The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-22
SUMMARY OFTHE DAYS TRANSACTIONS in THE MARKETS
LONG WHEAT COMES OUT
REARIsH CONDITIONS ARE TOO
MUCH FOR HOLDERS
Price is Lowered by Continued Rains in
> the Southwest Easier Cables and In
creased shipments-sh Cover, but
Rally Is Only Temporary.

CHICAGO, March 21-Excellent grow
ing weather in Kansas and Oklahoma
took 1ac off the price of wheat today.
Corn closed sc down, oats 1sc and pro-
visions &c to &c.
Additional rain has fallen over a large
section of the Southwest since Saturday
ket at the opening. May was down vs.:
to q at 921ac to $3.50 and July was or
ss@1sc to 5s@%c at SIC to STAG. Other
factors that tended to intensity the sell,
ing pressure were easier cables, liberal
worlds shipments and an increase In the
amount on passage. The combination ap.
parentiy was too much for the majority or
holders, and in consequence great guam
titles of long wheat were thrown upon
the market. May wheat was neither
wanted nor pressed for sale in any con.
siderable quantity, but offerings, small
as they ee e9Ta mot es Within
hour the price of the May option had
fallen to Gle, while July in the mean
time had declined to $3.50 Shorts, who
had put out wheat earlier in the day.
then Commenced to cover, causing a rally
of about cent in the price of both de-
liveries. On the upturn more wheat came
out and the market again declined. There
was no news of Importance to encourage
buying. AS a result about the only de-
mand throughout the entire session was
from shorts who had profits in sight. An,
other slight rally from this cause occurred
within the last few minutes of trading.
The close was about steady with May
at 92c. July closed at 86b @S6Ac.
CIearances of wheat and flour were
equal to 1913, 700 bu. Primary receipts were
7l6, 200 bu, against 501,400 year ago.
The amount on passage increased 1,224,-
900 bu, while the visible supply decreased
All, 900 bu. Minneapolis, Duluth and chi
cago reported receipts of 575 cars, com
pared with GAL cars last week and 419
year ago.
Corn Is Likewise Down.
Weakness in wheat had a depressing
influence upon the corn market, causing
heavy liquidation early in the day, Wnlch
ly nc in May. On the decline, however
there was good buying, both by shorts
and commission houses, resulting in
rally. The principal bull factor was the
unfavorable weather, which is greatly
hampering the free movement OF the crop,
although firm cables and a decrease In
the visible supply were minor influences
Trading was mainly in the July option,
the nearby delivery being voided owing to
it's contested condition. The close was
steady July opened a shade to as@ nc
lower at 50ssc to 505sc, sold between 49Bc
and 5O34 @50Bc and closed with loss
of &c at s5OA @50asc. May closed down
hc at 52Ac. Local receipts were l95 cars,
with of contract grade.
Oats ruled comparatively hrm H., IN tne
face of the weakness in wheat. The fact
that the cash demand for good oats snow
ed no abatement and that the country
movement is still small was the chief rea-
son for the nfmneSS. there was ooiio
liquidation early in the day in sympathy
with the heavy selling in wheat but the
demand was sufficient to prevent any
great loss. Trading during the latter part
of the session was largely Of scalping
nature. The close was steady, with May
A@Ac lower at 40c. July opened 1sc low
er at $3.50, ranged between $3.50 and S9c,
and closed with a loss of 1sc at 3S4c.
Local receipts were 203 cars.
Provisions were inclined to weakness on
selling by commission houses and pack
ers. Lower prices for hogs at the yards,
together with the break in wheat and
corn. were the main bear Influence Pork r..
showed the greatest decline Covering py
shorts caused a fair recovery, the close
being steady, with May pork 15c lower
at SIG. TO- May lard closed down DC at
6.921s, and ribs were off INC at $3.50 II.
Range of Quotations.
The leading futures ranged as follows:
4 ! r