The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-11
SUMMARY OF THE DAYS TRANSACTIONS IN TIE MARKETS
WHEAT GAINS A LITTLE
EXPECTED DECREASE IN FARMERS
RESERVES is POTENT.
Higher Liverpool Cables Have Strength
ening Effect at the outset-Selfing
Movement Takes Place, Depressing
Prices-shorts Cover at the End.


CHICAGO March lo.-Flear of an of
1ficial announcement of decreased re-
serves in farmers hands was largely the
cause of net gain of III cents today in
May wheat. July closed at an advance
of A@Mc. May corn lis up nc Oats are
precisely 1c above last nights close, and
provision 21s to loo.
At the start the higher Liverpool cables
had q STRENGTHENING influence on wheat.
May opened Ne lower to aac higher, at
925h @9Sc, while July was UP 1sc 10 &c,
at SS1h to $685. @8SAc. The early firmness
rain, during the night had broken the
dreath in Kansas, soen started sefHng
movement. With only little demand,
prices gradually declined Little ACTIVITY
was manifested in trading during the ffTSt
hour, and weak tone prevailed May
sold off to 81 sc, and July to S7Mc. Ihere
was an unusual demand for september
delivery, owing to numerous crop damage
reports. Later the buying EXTENDED 10
the nearer month. In spite of rain IN
Kansas, the price of May wheat at KAN
sas City experienced a sharp advance.
The sudden strength in the Southwestern
market was regarded here as c9ffirnnaflorl
of damage reports. AS a result, the &c
mand became quite urgent during the
latter part of the day. In the meahtifne,
offerings had dwindled to comparatively
small volume. Covering by shorts, VINO
were filed with anxiety in regard TO the
phasized buIliSh sentiment decidedly May
advanced to s94c a gain OF NC from 10"
point. July sold up to S95a@ $3.50. Inc
market closed strong with May at 94c,
the high point of the day. FINAL ngufes
ON July were 89B@S9Ae.
Clearances of wheat and -four We're
equal to 277,900 bushels. Primary re-
cefpts were 536 500 bushels, against 434.-
SOC bushels "a year ago. Minneapolis, Du--
Iuth and Chicago reported receipts OF
371 ears. against 260 cars last week and
329 cars a year ago.
Course of Corn Variable.
AS result Of unresponsive cables the
corn market opened quite steady. Ihe
initial frmness in wheat was also rae
tor at the start. Weakness soon de-
Veloped, however, on heavy LIQUIDATION
The feature in trading was the active
profit taking in the May delivery. There
seemed to be little corn wanted. Before
the selling had subsidized, May had decIn-
ed nearly 2 cents from the opening high
point The market turned strong toward
the middle of the session Active puylng
by one or two prominent provision inter-
ieStS started a general demand under the
influence of which prices advanced rapid
ly A late bull facter was the big export
business at the seabeard. The close was
strong and at the top prices of the day.
513s @515kc After selling between soc
and 52Rsc, the close was at 52Ac July
ranged between 485s@501kc, and closed
with a gain OF lie at 5012c Local receipts
were 175 cars, with four of contract
grade
Oats We're weak early in the day ON
heavy selling by the leading longs. Many
stop loss orders came on the decline, and
for time the market was quite democrat
lied. Shorts were the best buyers
throughout the day. With the strength in
wheat and corn the market became
strong within the last hour of trading.
An improved cash demand was a bull
feature late in the day. The market clos
ed strong and almost at the top. May
opened II lower to &c higher at 401s a
401ac. After selling down to -39%e, the
price rallied to 411ac, and the close was
at 41ssc. July ranged between 3Sd4 @
392ssc. and closed &c higher at 391sc
Local receipts were 231 cars.
In sympathy with decline of 10c to 15c
in the price of hogs, the provision mar
ket ruled easier early in the day. The
selling was largely by outside holders.
With the improved tone in grain markets
there was renewal of investment de-
mard for hog products Offerings were
rather light and the market soon became
quite firm. The close showed slight
gains throughout the entire list, May pork
being up Toe, at $13.S71s. May lard was
21ac higher at $7.321a, and ribs up 71ac,
at $7.22h
Estimated receipts for tomorrow:
Wheat. Is cars; corn, 145 cars; oats, 145
cars; hogs, $4,000 head
Range of Quotations.
The leading futures ranged as follows:
Cl,..,, n TJ;rrI, 49, rSl-------