The Saint Paul globe., 1904-08-26
SUMMARY OFTHE DAYS TRANSACTIONS IN THE MARKETS
FROST SCARE HELPS
1T SERVES TO LIFT PRicEs ON
'cHANGE IN CHICAGO
Wheat Is Weak at the Start and Bears
Maneuvers With Success-Turn Comes
and the Close Is Higher Than Wednes-

CHICAGO, Aug. 25.-The wheat market
experienced frost. scare today which
lifted prices 1sc to SIC over the pre-
vieus close. Final quota tions, however,
showed net gains of but CSC to ss@ &c.
Corn is off u c to 1@11sc. Oats closed rs
@Ac down. Provisions scored losses of
214c t@10c.
wheat trade who seemingly maneuvered
for a further break, and under this man
ipulation prices dipped below those of the
previous close. September started with
loss of &c to 1ac at $1.03B to 1.031A,
and December 1c to @c off at ST. 04k to
81 .04Ss. The weakness was only tenn
porary and buying at the lower prices
advance that carried September to 81 .06A
and December to 81 OTIS. Temperatures
IN the Canadian Northwest were regarded
as close enough to the danger line to make
it advisable not to sell. This applied
both to those who had actual wheat to sell
and those who otherwise might have
been tempted to sell it short on the ex-
treme weakness of foreign markets. Com
mission houses had numerous buying or
derS and the, efforts to- execute them, to-
gether with the covering of many local
traders who sold short yesterday on the
break in prices, supplied buoyancy to to-
Gently disposed of their holdings were also
In buying rush to get back their lines
Ihere was renewal OF the rust and short
crop reports from Manitoba. and these
reports added Zest to the bulliSh tone of
the market. Toward the end of the ses-
sion the market weakened on heavy profit
taking. Late weather reports indicated
rising temperatures for Friday in the
frost menaced districts. The break in
corn prices reacted on the wheat market
All operated to reduce the advance to
modest dimensions. September closed at
81 04 and December at 81 05A @1. 05 IS
ClearanceS of wheat and flour were
equal to $4,000 bu. Primary receipts were
$4,000 bu larger than a year ago. Min
neapolis, Duluth and Chicago reported re-
ce1ptS or 241 cars, against 243 cars last
week and 334 cars a year ago.
Corn was steady at the start under the
influence of favorable weather conditions,
lower cables and a crop estimate at $780,
000,0 bu, barring an early frost. Septem-
Der started unchanged to hc higher at
53Ac to 53 &c. December was off kc to
ssc at 52A @521sc. AS in the wheat mar
ket, frost was contingency that caused
uneaslnesS among nervous shorts and
when, later in the day, messages from
Omaha told of the likelihood of freezing
temperatures in that vicinity tonight, the
market had sharp reaction. The upturn
IN wheat prices also added motive power
to the advance. September at its best
touched 55c and December 54hc. Sep
tember was much in demand by cash
traders. while December values were sup
reports on the new crop were of an en-
phatieally bearish nature and induced lib
eral selling at the top prices. The result
was loss of more than the early adj
vance and weak tone at the close. Sep
tember finished at 53c with December
down to 51% @51Ac. Local receipts were
167 cars.
Oats did not seem to catch the bull
spirit which prevailed in the other grain
markets. Trade was not large and was
chiefly on the selling side. There was in
creased selling pressure by cash houses
Notwithstanding receipts We're only mod
erately heavy. September started un-
changed at 331sc and December unchanged
to a shade off at 3414c to 34A D343sc.
Both deliveries made a small fractional
advances bat closed at thes bottom prices
for the day. September at 321sc and De-
cember at 335ac. Local receipts were 203
cars.
Provisions We're inactive and without
material change in values. Packers gave
some support to the September deliveries,
but offerings were more than adequate
and final quotations showed September
pork down 71s@10c at 1.60; lard off 21s
@5c at sc. .90@6. .921s and ribs down 21k a
&c at $7.35.
Estimated receipts for tomorrow
Wheat, 122 cars; corn 272 cars; oats, 232
cars; hogs. 1000 head.
The leading futures ranged as follows: