The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-07
WHEAT GOES HIGHER
OHIO CROP REPORT is PRODUCTIVE
OF STRENGTH
Firm Opening Followed by q Period OF
NEUTRALITY-SUSPICIOUS. OF BuIlIsh
Advices Causes Active Buying-corn
and Oats Lower.

CHICAGO, May 6-The Ohio crop re-
port was perhaps the chief factor in
the close the price of July wheat show
ed gain of Is ole. Corn is down u q &c.
221%c.
The opening in wheat was firm on small
receipts and higher prices In Liverpool
July being up at 1sc to 3sc at S515c to
S5Ac. immediately after the opening there
was short period of hesitation in the
minds of many traders, during. which time
the market assumed an easier turn July
selling off to 85Nc. The slightly bearish
sentiment soon gave way, however, to a
preponderance of bullish crop advices, the
first one of which was the Ohio crop re-
port Statistics in regard to the condition
OF winter wheat in that state showed
marked deterioration, the figures being SO,
compared with 81 last month Shorts and
commission houses became active buyers
and the market soon developed decided
strength. Some impetus was given the
upward trend by the strength of the
Northwestern markets, Notwithstanding
the shutdown of the flour mills at Mime
apolls A general report on the condi-
ton of the winter crop issued by a we'll
known Chicago authority was decidedly
bulllsh. According to this expert a heavy
railing off in winter wheat conditions was
manifested in all states east of the Mis-
sissippi river and north Of the Ohio. Some
states We're said to show decline of
10 to Is points. The loss in the Ohio
valley, it was claimed, was the heaviest
II AudIly years. "A partial cOlIlfInatlOn OF
these figures was given in a report from
ST. Louis by another crop statistician.
Under this superabundance of adverse
in s streneb an late continued ihn
During the last hour realizing sales
checked the advancing tendency and caus-
ed a slight recession in prices, but the
market closed strong. After selling up
to $3.50, July closed at S6A @S6ssc
Clearances of wheat and flour were equal
to 16l 600 bu. Exports Of wheat and flour
for the week. according to Bradstreet's,
We're equal to 1,201 900 bu Primary re-
ceipts We're $4,000 bu, compared with
5000 bu year ago. Minneapolis, Du-
iuth and Chicago reported receipts Of "A
cars year ago.
Strength in Corn Doesn't Last.
During the early part of the session
in consequence the market ruled strong.
The influences that brought out these
buying orders were firm cables, small re-
celpts and strength in wheat. Reports of
probable early settlement of the labor
troubles connected with lake navigation
also had stimulating effect on prices.
On the advance there was heavy selling by
pit traders, which caused weakness dur
ket closed near the low point. July open
ed a shade to Il c higher at 1880 to 48A %
4S%c.. sold between 4SA and 1880 and
closed at 48Ac. Local receipts were 211
cars, with p Of contract grade.
In sympathy with other grains oats
We're strong early in the day. Late in
the session quite lot of long oats came
out, and while the pit crowd was inclin-
ed to the bull side the support from that
source was not sufficient to check the de-
Ginning tendency. All the early gain was
lost, the market closing at about the low
point. After opening B@Ac higher at
39Bc, July ranged between 1850 and
80 Bc and closed at 3SAc. Local receipts
were IS cars.
r FeayvsSelline bv ma clxerc and outside in
terests caused a weakness in provisions.
The market was firm early in~Sympathy
with higher prices for hogs at the yards
and on the strong grain markets, but SEN
timent soon changed, the market becom-
ing weak on poor support At the close
July pork was down 22hc at 81. 67z.
July lard closed TIC lower at Sc. 621a.
Ribs We're off 5@7xc at $6.45.
Range of Quotations.
The leading futures ranged as follows: