The Saint Paul globe., 1904-08-27
WHEAT TRADE ERRAT|C
MARKET vEERs UPON SLIGHT I'M
PULSE, BUT CLOSES HIGHER
Extreme Nervousness characterizes the
Trading ahoat-Nonappearance of
Frost Causes Weakness Part of the
Time

CHICAGO. Aug. 26-The course ,of
Whea5 y f,esa, price prices today was like the path Of
impulse, the market finished 1Kc to IL a
&c better than the previous close. Corn
fnished " up to a shade off. Oats are
down se. Provisions show loss of 25ac
Wheat was extremely nervous through
out the session. September stated 1sc to
l12c down, at $1.021s@1.03k. December
was Ac to sc to IL @1ssc off, at $1.0460
largely to the nonappearance of frosts in
the Northwest. and turned stronger on
preliminary i1la Argentine shipments; A dis
outsiders who had bought wheat under
the dollar mark. Several of the leading
pullS, however, were reported to have
come to the support of the market Their
alleged operations resulted in a rather
eager plunge to the buying side. The
reVers1on of falling was helped by private
advices. which, if true. indicated more
emphatlcally that the Manitoba crop will
be considerably shorter than that of last
year. The Northwest bought in this mar
ket On the strength of the shortage news.
As result frightened shorts began to
JemDer wheat had advanced 1%c to
S1.0S& and December &c to $1.061b. The
trade seemingly is rapidly getting out of
the nearer month and the deferred future
received the greater attention. Renewed
taking of profits resulted in sudden de-
cline Soon September was back to $1.043s,
with December down to $1.05% when an
other- Dull wave overlook the market and
the best prices of the day were recorded.
The strength attending this last reaction
continued until the close final quotations
pelng d at the top. $l.O57s for September and
$1.07A for December.
Bradstreets' exports since July /
show decline of 100000 bu, as com
pared with a similar period last year.
CiearanceS OF wheat and flour were equal
to $4,000 bu. Primary receipts were 824 :
100 bu, against 7S0,S00 bu last week and
6lS,l0O bu a year ago. Minneapolis, Du-
luth and Chicago reported receipts of 3O1
cars, against 126 cars last week and S43
cars a year ago.
Little Change In Corn
Corn opened fractionally under the pre-
vious close, chiefly because of the weak
ness of the cables. September started
unchanged to 1sc off at 527sc to 53c De-
51Ae to 515sc. Liquidation by Southern
holders soon brought about further de-
cline to SIC and 505sc. There We're many
who appeared to believe that the proba-
and they seized the opportunity to take
on long lines at the decline. This started
prices back toward the opening figures
and with the Improvement shorts hastened
to cover their sales. Then the wheat up
turn added its influences and the advance
continued until September corn touched
53ss 9 and December 529sc. Close was firm
at 53Ac and 51S4c. the recession from top
figures resulting from profit taking sales.
Local receipts were 304 <carS
Oats in a general way followed the
course of the corn market, although trad
ing was without distinguishing feature
and price changes We're within a very mar
row range. Commission houses had oats
for sale. but declines from such selling
were taken advantage of by the shorts
and steady feeling prevailed. Septem-
Der starting 1sc to 1ac lower at 32Ac to
323sc, dipped to 32c, rallied to 325sc and
closed 92ssc. December opened unchanged
". a n 10
tween 3354c and 33A @33%c, closing 3S5ac.
Local receipts were pa cars
In provisions trading was mostly in the
way Of changing from September to later
deliveries by outsiders. Local traders
were chiefly on the selling side Final
quotations showed loss of 2k@5c in
September pork at $11 .55@11. .5711a. Lard
was off 21sc at $6.S77S @6.90. Ribs are
down 21sc at $7.32k. Estimated receipts
for tomorrow: Wheat, 103 ears; corn, 369
cars; oats, 278 cars; hogs. 5000 head.
Range of Quotations
The leading futures ranged as follows: