The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-20
WHEAT TAKES A FALL
WEATHER is GOOD BOTH NORTH
WEST AND SOUTHWEST.
Bearish Sentiment Prevails Most Of the
Day-Good Acreage for the Northwest
Is Reported Assured-Corn Has a Bad
Break.

CHICAGO, April 19.-Unanimity, North
west and Southwest that the weather is
excellent brought out liberal sales Of long
wheat here today. AS a result July wheat
at the close showed a loss Of an even cent.
July corn is down q Cd &c. Oats are off
&c and provisions 214 @71ac.
Rain in Kansas, with an official forecast
of more to follow, caused bearish senti-
ment among the traders at the opening.
In spite of firm cables, the market here
was barely steady, initial sales on July
being unchanged at S6% c. News from the
Northwest also was dscouraging to the
bulls. the Wea ther there being reported as
greatly improved and that a good acreage
Is now almost assured Long wheat was
offered freely from the beginning but the
majority OF traders We're timid about buy
ing, notwithstanding the fact that numeT-
Gus crop damage reports are still being
received from Indiana. Illinois, Missouri
and Kansas. The lack of demand soon
started prices downward and, for the re-
ma1nder of the session. a decidedly weak
tone was manifested. The market lacked
any outside support Business from out
OF town was chiefly in the nature of sell
ing orders from the Northwest and South
west. decrease of $4,000 bushels in
the worlds visible supply, as shown by
than had been anticipated contributed
weakness to the general situation. After
July had declined to 851Ac, there was
little oStensible support. A slight rally
July at S5%c. May ranged between 91Ac
and 92c, and closed at 911Ac. Clearances
OF wheat and flour were equal to 74,500
bushels. Primary receipts were PA, 100
bushels compared with 339 500 bushels
year ago. Minneapolis. Duluth and Chi
cago reported receipts of 161 cars against
104 cars last week and 123 cars year ago.
Something Doing In Corn.
In the face of theSdeclining tendency Of
wheat, the corn market exhibited consid-
cradle trmness during the early part of
the session, due largely to small receipts
Buying by commission houses caused
moderate Advance in July, and the gain
was well maintained until near the mid
! Gle OF the day, when leading long be-
gan to sell large quantities of May. I'm
DER these offerings the market broke Sc
yereiy. the May delivery declining about
z12c and July over 1c. Weather was
1aXOrabIe for farm work and there was
talk OF freer acceptances of corn by the
West. especially Nebraska. One reason
assigned for the slump was that in order
to prevent being sold any of these ac-
ceptances, which are likely to grade we'll
the big bull decided to break the price
OF the May option. The market closed
weak and near the low point July OPEN
ed unchanged to &c higher at sos @56Hc,
sold between 491Bc and 5O&k 6501bc and
closed at 1914 @49$sc MAY closed at 49sI 9
after ranging between 49A 0521kc Local
receipts were 1853 cars, 40 of contract
grade.
Pit traders and commission houses
bought oats early in the session on the
strength in the cash situation. Offerings
were comparatively light and in conse-
quence fair advance was made in all
deliveries. The break in wheat and corn
induced considerable realizing resulting
IN a weaker tone. The close was almost
at the bottom. July opened unchanged at
1880, sold between 37A@37Ac and 38c
and closed at 37Hc. May closed at 373lc.
Local receipts were Y cars.
Provisions were strong early in the day
on an excellent demand from prominent
packing interests but the market Yielded
to the extreme weakness in grains The
close was easy, with July pork 5671bc
lower, at 12.2215 @12. 20 July lard was
down 21a @5c, at $6.671a. Ribs were off
212c to 5Q712c, at Sc .471a 06 so
Range of Quotations
The leading futures ranged as follows: