The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-23

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CHICAGO, May 21.-Enorrnous sales Of
cash wheat in the Northwest caused
strength in speculative options here to-
Gay. July wheat closed with a gain of
1@11sc. Germ is off shade Oats are
down &c and provisions a shade to 71zc.
Excellent growing weather and large
australian shipments had depressing in
Huence on the wheat market at the open
ing. but the uncertainty of The situation
IN the May delivery held the bears in
check and prevented any considerable
selling. Initial sales on July showed a. loss
9f shade to Is @14c at $3.50 to B6aac
May was unchanged at 99c. In the alb
Sence of any great demand for the May
option the price Of that delivery eased off
a trife declining to 9Sac. LAS the session
advanced a number of bullish factors
came into prominence. A foreign StatiS-
tIcian an. estimate of the world S ship
Inents Tor the week showed a large fall
ing loft, while at. the same. time claiming
a heavy decrease in the visible supply.
Later there was considerable purchasing
on belief that the local stocks of con-
tract wheat would show quite a decrease
On Monday. The predominating influence.
I however, was the reported sale of /, 000, 900
bushels of cash wheat at Minneapolis to
country millers. There was an active de-
mand here from Northwestern houses.
The market closed almost at the top
prices, final figures on July being at 87Bc
after the price had touched S8c. May
closed at 69%c, a net gain of Il c.
Clearances of wheat and flour were
equal to 191 500 bushels. Primary re-
| ceipts were 1855 800 bushels, compared with
351 GEO bushels a year ago. Minneapolis
Duluth and Chicago reported receipts of
" cars, against 81 cars last week and 1873
/ cars year ago.
Corn Is Off.
During the early part of the session a
| bearfSh sentiment was manifested in corn
| due to ideal weather conditions Offerings
/ however, We're not large and prices sus-
/ lalned only slight losses. Later in the day
| the market became firmer in sympathy
| with the strength of wheat. A decrease
movement in the West. indicating a par
tai exhaustion of stocks was late bull
| factor. July opened * 0Ac to 3sc lower
| at 4Sc to 4Sh 648Ac, sold up to 4S1% and
| 4S?sc and closed at ASA @482sc Local re-
! celpts We're III cars, with of contract
grade
The feature of trading in oats was fur
nlshed by the May delivery. Under the
leadership of a big holder there was some
heavy selling in that option resulting in
considerable weakness early in the day
Nearly all the GoSS was later regained on
| covering by shorts Deferred futures were
| adversely affected by favorable weather
! lower at 3SA assoc to $685.. July ranged
| between 1875 @SS$sc and 3S1Ac. closing at
| SSAc. Local receipts were 1872 cars.
| PROVISIONS We're easier on outside liqui-
| dation and on selling by packers Large
receipts of hogs and lower prices at the
yards were the principal selling motives.
july pork closed with a loss of 715e at
SlU %. Lard was down ~ 0D5c at sc. 271A
'g6 30 Ribs were off a shade, closing at
| Sc. 350 az. 37%
! z cars; corn, l19 cars; oats, 10 cars; hogs,
| 1000 head.
Range of Quotations. ts,sy
The leading futures ranged as follows:
Open.I Hight Low I IyioSa