The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-06
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WEAKENING IN WHEAT
RuLLIsH OPENING IS NuLLIFlED BY
DEVELOPMENTS
Good Advance Invites Realizing, the
Principal Trading Being In the July
optIon-RaIn In the Winter Wheat Belt
Helps the Bears.

CHICAGO March 5.-An interruption
of the long standing. drought In Kansas
today. the May delivery closing 3sc; off;
with a gain of S@Hc Oats are I'M
changed. Provisions are up loo to 25c
was keenly felt at the opening in wheat,
an advance at Liverpool being largely
credited to the Ohio report The pit
crowd was quite bullish and bought free
advance in May of 7s@1c, opening quo
tations being at, 977sc to csc. July was
Il &c higher at $3.50 to 92a4c. A cable
gram from Odessa predicting a curtail-
acreage due to the war was another
source of strength. The principal trad
ing was in the July option, commission
houses having considerable buying or
ders for that delivery. Some of the longs
in May took profits early in the day and
caused a decline to 97c, but shorts were
active, buyers, and the price quickly raj
lied to $3.50. July sold UP to $3.50. Adj
ditional realizing occurred on the advance,
and when rain was reported in Kansas
and other sections of the winter wheat
market was poorly supported, and weak
tone developed. May declined to s961Ac,
while July dropped to Size: The mar
ket failed to recover from this setback,
, the close being weak and near the bot
TOM with May at 965sc. July closed at
92@92hc.
Clearances of wheat and -four were
equal to 159.2oo bu. Primary receipts were
$40, 200 blu, against 413,600 bu. year ago.
Minneapolis, Duluth and Chicago report
ed receipts of 344 cars; compared with 321
cars last week. and 313 year ago.
Corn Gains Little.
Strength in wheat and an active de-
mand from a prominent provision inter-
the day. There was very little corn for
sale until May had advanced nearly a
cent above yesterdays closing figure. OF
ferings then became rather free and
prices eaSed off. Commission house sell
ing, due to the late weakness in wheat,
caused an additional decline toward the
end of the session. The market closed
steady, with all of the advance lost. The
higher at 531ac to $3.50: On the early
bulge the price rose to 541s @54Ac, but
dropped back later to 90 &c. The close
was at 535s @53Mc. July ranged between
515s @51%c and 52Ac,. closing NC lower
at SIC. Local receipts were 2o9 cars, with
one of contract grade.
Early in the session an impression pre-
vailed among traders in the oats pit that
the big long in May was accommodating a
line of July. The pit crowd was inclined
to follow this buying and the result was a
strong market with both May and July
showing gains. Quite general selling de-
veloped late, due to the break in wheat
and corn, resulting in considerable weak
ness. The tone at the close was easier.
to 1850, May ranged between 411sc. and
41%c, closing at 41Ac. July sold between
395a and 40c, and closed at net loss of
Nc at the low point. Local receipts were
272- cars.
small run of hogs with higher prices
at the yards gave. provisions a strong
start, and the early strength was Well
maintained throughout the day. There
was big general trade and comparative
ly few products on the market. The best
buying was by commission houses. Sell.
ing by packers caused a partial loss of
the advance, but the close was firm. Final
figures on May pork were up 25c at
$14 1711. May lard closed 15c higher at
ST 40, and ribs were zoe higher at $7.271s.
Estimated receipts for Monday: Wheat,
% cars; corn, 1876 cars; oats, 270 cars;
hogs, $4,000 head.
Range of Quotations.
The leading futures ranged as follows: