The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-11
WHEAT PRICES ASCEND.
GOOD FOREIGN DEMAND FOR FLOUR
is THE INSPIRATION
Radical Decline in Liverpool Depresses
the Market at the Beqlnning-Active
Covering by Shorts Produces FIrmness

CHICAGO. Oct 16-ExeelIent foreign
demand for -four caused an upward turn
today in the price OF wheat. Another po-
tent influence was reported shortage in
the Roumanian wheat crop. At the close
December was up Loose. May showed
gain OF &c. Corn is c. Oats are down
7s45sc and provisions 75bc to 271ac.
a radical decline in grain prices at LiV-
erpOol had a depressing influence on the
wheat market here at the opening The
December option was OF shade to g %
&c. at S1-07 q oil S1z, while May was Il a
&c higher to 1507sc lower, at $1-pS12 TO
I.091z. The weakness abroad was due
mainly to large shipments from Russia,
An additional drag on the local market
was a fresh break in corn prices For
time commission houses had liberal Of
ferlngS. but the demand was light AS
result December sold off to S1.07Ss and
May to $10SA. The market made q
slight recovery on buying said to be for
the account Of q leading bull operator
but trading lacked animation. Continued
heaVy primary receipts were a seemingly
effectua1 check TO bull operations. Dur
ing the latter part Of the session. how
ever. the market became decidedly firm
as a result OF active covering by shorts.
A report from Minneapolis stating that
GOOD sized lot or Hour had been sold Tor
export had an Immediately strengthening
influence on wheat prices here. An OFF,
clal estimate on the Roumania wheat crop
came about this time. placing the yield at
d. 600 600 bushels, compared with 73, 000-
600 bushels last year The Roumania news
proved a useful instrument in lifting the
market, the demand from shorts forcing
the December option up to $10S3s. Mean
time May rallied to Sl-093s The market
closed firm with December at S1.0S1s.
Final quotations on May were at $1O9A q
1.09@s
Clearances Of wheat and -four were
equal TO So, 100 bushels. The amount on
passage increased 1876. 900 bushels. while
the visible supply increased 3 221, 900
bushels. Primary receipts were 2,6S5.000
compared with 1884. 600 bushels a year
ago. Minneapolis Duluth and Chicago
reported receipts OF 1857 cars against
1,46S cars last week and l, 102 cars a week
ago.
Corn Shows Weakness
A continuation Of warm weather was
the principal element in weak corn
market. Prospects of a bearish govern
ment report also had a depressing in
huence. The selling was quite general
early in the day. but later in the session
fair demand developed from commission
houses and outside shorts. A report from
New YORK claiming a moderate export
business was the cause of some late buy
ing December opened Il C to &c lower.
at 477sc to 4S1ac, sold between AIS a
1870 and closed at 4Sc. Local receipts
we're 29S cars, with fourteen of contract
grade.
Weakness of corn brought out consider
able selling of oats by cash houses and
elevator interests. resulting in lower
prices. A large increase in the visible
supply was an additional bear factor. De-
cemDer opened shade lower at S33z C,
ranged between 2915 8295sc and 30A q
302sc and closed at 2934c. Local receipts
were 38S cars.
Provisions were weak on general liqui-
datiOn. Selling of January products for
outside account together with the break
in corn prices was the cause of the
weakness. At the close january pork was
off 2716c. at $12.75. Lard and ribs were
each down 715c. at $40 to s6.6715
Estimated receipts for tomorrow;
Wheat. 112 cars; corn. 173 cars; oats, 1S5
cars; hogs, 16, goo head.
Range OF Quotations
The leading futures ranged as follows:
q. Z n.