The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-27
WHEAT is STIMULATED
BIG ADVANCE AT PARIS RAISES
PRICES HERE
Depressing influences Appear at the Open
ing, With Longs Selling FreeIy-Mr.
EiiIPs Crop Prediction Has a BaiIish
Effect

s CHICAGO, July pa big advance at
Paris had a stimulating effect on wheat
prices here today. AT the close Sep
tefnber wheat was up B@%4c. Corn was
up IS 9Ae Oats showed a gain OF 1sc
PROVISIONS were 212c TO 121bc higher
Heavy receipts and an easier tone at
Liverpool Notwithstanding the sharp adj
vance mere yesterday had depressing
effect on the wheat market here at the
opening. A number of local longs were
Tree sellers, and under the liberal offer
lngS initial quotations showed consider
able losses, September being of &c to
&c, at S4Ssc to size. After the first
burst OF selling enthusiasm had DaSSed
the market remained quiet with prices
towering around the opening figures. To-
ward the middle Of the session trading
again became active and a strong under
tone developed. ScalpeEs were caught
snort OF wheat when a Paris cable show
ing an advance there of &c came in and
IN an effort to cover prices We're forced
rapidly upward. The bulliSh sentiment
was further intensified by a report credit
ed to James J. Hill that the total wheat
crop Of the country would be 100, 0oo, coo
puSne4Ss less than last year. A decrease
IN the worlds visible supply Of nearly
two million and a half bushels was an
additional bull factor. Seemingly little
attention was paid TO a number of bear
influences. the most important of which
was heavy primary receipts. The market
continued strong the remainder of the
session. September advancing to 3Sat c.
Clearanees of wheat and -four were
equal to 103-S00 bushels Primary re-
ee1pts were 600 bushels. compared with
fS4. 400 bushels a year ago. The worlds
available stocks according to Bradstreet
decreased 2.40d.0ea bushels Mfnneapo-
lis. Duluth and Chicago reported re-
ceIpIS OF 400 cars, against 278 ears last
week, and S72 cars a year ago
Corn Weak and Strong
Influenced by favorable weather and
fairly large receipts some weakness was
manifested in corn early in the day
When wheat prices started upward a
Ialr demand for corn developed resulting
IN f1rmer feeling Favorable crop adj
vices. however, tended to check any- ma
teriaE advance in prices. The market
closed near the high point. September
opened &c to AmAc lower at 49Ke 10
at 1850. Local receipts were 553 cars
with 46 of contract grade.
OATS considering the small amount of
trading, the oats market had fine tone.
Inc Improvement in prices was mainly on
account OF the strength of wheat but re-
turns from threSherS in this state show
ing poor yield. had some effect. Sep
TEMPER opened &c to 4 DAc lower. at
35e to 33@331sc. ranged between 32k0
3Sc and SO 6D33he and closed AFT 331L n
So sc Local receipts We're 169 cars
PROVISIONS were firm on light offerings
Tne strength OF wheat influenced some
pdyIng BY pit traders and in order to
secure the goods required. prices were
ten1ber pork was up PIE at SI2 S2R
Lard was up 272e, at $500 Ribs made a
gain OF 5G412c. closing at STATE 6DT50.
Estimated receipts for tomorrow:
Wheat. SO cars; corn, 150 cars; oats ca
cars; hogs, 1000 head.
Range of Quotations
The leading futures ranged as follows: