The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-27

CHICAGO Feb 26.-Crashing down
twice today following break in prices at
Liverpool. wheat for May delivery went
31Ac below last nights final figure. The
market closed 5zc above the low point.
July wheat closed at net loss of 1hc.
May corn Is down ss@hc, oats Bc and
provisions a shade to 2712c.
Under the Influence of large Argentine
shipments and lower English cables, ex-
IRENE weakness pervaded the wheat PIT
at the opening. The market appeared to
bearish advices from foreign markets
served as an excuse for general profit
taking. Opening prices were very. err
ratio. Initial sales of May We're made at
$1.0501.07, a decline of A@21Ac from yes
terday's closing quotation. July was Ss a
21Sc lower at 96@9713c. For a time the
selling. was fast and furious. When the
July delivery touched 957sc there were
large buying orders. The crowd took the
fact as a hint that the ftrmness Of wheat
was perhaps no mere fash in the pan. but
more or less lasting state of affairs that
might possibly parallel the duration of the
war The demand seemed to be as urgent
as 1t had been any time during the pres
ent bull campaign.
full recovery was made. May advanc
ing to $1.O7 and July to 98Ae. The mar
ket turned weak again during the latter
part Of the day. Open selling of both May
and July by the leading long started
prices on the down grade. Moderately
bearish reports of the condition of the
winter wheat brought out some selling,
while limitations of an increase move
ment of the grain added to the depression.
The selling became general and prices
rapidly declined. May dropped to 81 .04%,
and July went back to sec. Covering by
shorts caused some recovery, but the close
was weak. with May at $104B. July
closed at $3.50.
Clearances of wheat and flour were
equal to 152,700 blu. Primary receipts
ago. Exports Of wheat and flour for the
week. according to Bradstreet's. were
equal to 2.091, 600 bu. Minneapolis, Du-
luth and Chicago reported receipts of 246
cars, against 254 cars last week and 304
cars year ago.
Corn Likewise Weakens.
Lower cables caused weakness in corn
also helped to bring out considerable liqui-
dalton from small holders. The large bull
houses were active buyers after the open
ing decline, and in consequence the mar
ket ruled quite firm the greater part Of
the day. The late break in wheat how
ever. caused additional selling during the
last hour. The close was easier. May
opened Is @Ac to %@%e lower at 5612 a
SIC: After selling between 563s 0561Ac
and 577sc, the close was at 56Ac. July
closed &c lower at 553sc. Local receipts
We're 245 cars, none of contract grade
The oats market was a sympathetic one
and largely Influenced by the action OF
wheat and corn. There was an early de-
mand for July and September. which
In May was general although there was
no evidence of any large sales by the
leading long. The late market was veal.
along with other grains The opening on
May was ss@5sc lower at 45h @45A q.
After ranging between 44% @45Ac, the
close was at 453sc. July closed &c lower
at 421se. Local receipts We're 1874 cars
Provisions were extremely nervous I'M
der the leadership of May pork. There
was, heavy selling by big holders early
IN the day. with commission houses TAX
a loss of ne to 421kc at sic. 15@16. so.
out quickly advanced to 16.67h. Heavy
pront-taklng on the bulge caused another
setback, and final figures were down 271%c
at $3.50: May lard closed NC lower a t
SS.05, and ribs We're off shade at So O21b
estimated receipts for tomorrow: Wheat,
hogs, 29, 900 head
Range of Quotations.
The leading futures ranged as follows
Oman I IJioI, r ~~x--- ! 81