The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-31

WHEAT ABOUT THE SAME
EXTREMES OF CONDITION BALANCE
EACH OTHER
Tone is Easy at the onsnfna Due to Fa-
vorabIe Crop Weather-Then Sellers
Scramble to Repurchase, Influenced by
Leading Longs Buying.

CHICAGO, March 80. Favorable
weather conditions for wheat counterbal-
anced strength in the cash market to-
day. The close was almost precisely yes
terdays figures the July option being
up only 1sc. Corn shows a net gain of
1B@1Ac. Oats are up &c. Provisions are
off 21zc to sc.
Lower prices at Liverpool and rain
throughout the greater portion OF the
Southwest caused an easy tone In wheat
| at the opening, July being shade to n @
quite generally bearish on the favorable
crop news from the winter wheat belt In
| consequence there was little demand at
the start. The market became still weak
er on liberal offerings from commission
houses. July declining to 8634c before any
support was encountered: Strength IN
corn soon began to be felt in the. wheat
pit, however, the market gradually be-
coming f1rnaer Prices advanced more rap
idly when q runfoF was circulated that a
leading long was buying heavily of old.
July wheat, purchases Of half million
bushels being credited to this operator.
. Under the influence of the buying as
scribed to him there was a scramble
among early sellers to repurchase wheat.
cash situation here as well as IN the
Northwest and Southwest. Sales of cash
wheat were made here at advanced prices,
and the cash demand everywhere was
said to be unusually good A sale OF
100000 bushels to Texas millers at &c
over export price was reported from Cal
weston An offset to the strength IN the
cash market was the prevalence of rain
in the Southwest. AS the session drew
near the close the numerous bearlSh re-
ports from that section brought out lib
eral offerings, resulting in another reac-
ton, July declining from SS1sc to 87Ac:
The close was about steady, with July at
8712 @S75sc. May sold between 931ac and
&c. and closed at $3.50.
Clearances of wheat and -four were
equal to s2,Seo bushels. Primary receipts
Were $4,000 bushels, against 95S, 600 bush,
els a year ago. Minneapolis, Duluth and
Chicago reported receipts of 274 cars.
year ago.
Corn Is RuiIIsh.
The sentiment in the corn pit was ex-
tude of the principal holder. The big long
was an active buyer of both May and
July during the entire day, and owing
of tra trade ' We're Ioath to take the Selling
side. Small receipts and unfaVorapie
weather for the movement Were add1-
tional factors in creating q strong tone.
Prices advanced gradually throughout the
day, closing figures being at nearly the
high point. July opened a shade to Is a
Ae higher at 81 &c to SIC and after selling
between 51sc and 53@53Bc, closed at 5Sc.
May closed at 55a4 @557sc, after ranging
between "a &c and SEC. Local receipts were
IS cars.
Under the leadership of corn and in
sympathy WIIQ higher prices III lIlS
market. oats ruled strong Shorts and
commission houses were active buyers,
but offerings were comparatively light
coming largely from scalpers. The close
was strong and practically at the top.
July opened a shade lower to a shade
higher at 3S1sc to 3Sssc, and after SELL
ing between 3S1sc and $3.50, closed at
39A @3sssc. Local receipts were 56 cars. I,
A heavy run of hogs with lower prices
at the yards led to considerable llqulda-
ton in provisions during the early part
of the session. The selling met with lit
tie response from buyers and in conse-
quenee all products showed losses. Later
the market became frIner under the In
fuenee of strength in corn. much of the
early loss being regained. The close was
steady with July pork 21sc lower at
S13 251s. July lard closed at a loss Of 21ac
at $40, while ribs were down SC, at 81.
| The Board of Trade will be closed Good
Friday,
Range of Quotations.
The leading futures ranged as follows:
/ 4 n T |