The Saint Paul globe., 1904-08-29
WHEAT GAINS LITTLE
DAYS SESSION BRINGS MORE THAN
ONE BREAK
Nest Serious One Is Caused by Favorable
Results of Threshins In Minnesota and
South Dakota

CHICAGO. Aug. alternating cur
rents of bull and bear enthusiasm swept
the wheat pit today, leaving prices 1sc-
above the previous day. Corn is down
&c to 1 Ise. Oats lost 1sc to sc In the
final quotations. Provisions varied from
5@442c to 2711c on
Wheat started out with indications of
strength, although there was nothing OF
a seriously damaging nature in the early
reports of crop conditions. September
was up 1s@54c at 81. 06@ L II. and De-
cember h@1zc at 81. .07as@ al. 07A. and the
ngures were seemingly based on Sse
higher curb market at Minneapolis, to-
gether with improved Liverpool cables.
After the first few minutes the market
lost its hrmneSS and decfinea to 81 05A
for the nearer month and to $1-oSA for
the deferred delivery. The bears appar-
entity held hopes OF reiteration of ad-
vices from Manitoba of a crop in excess
OF last years. The market was very
tie inclined to take long chances either
way The lower prices brought out some
buying orders and with their appearance
the earlier sellers became wary and soon
the demand was In excess of the offerings.
Later rust news was Just bad enough
to keep the bulls confident, and for
time their confidence swayed pit senti-
ment toward higher values. September
advanced to 81 O6g and December to
81. .07% before the next wave of profit
taking checked the upturn. The second
and more severe break. caused partly by
a report of favorable returns from thresh-
ing in South Dakota and Minnesota,
eclipsed the earlier ones, replacing the
former gains by net declines from the
previous cloud. September dropped to
$l.047 and December to $1.06A Much
OF the loss was attributed to the unload
ing of long lines accumulated by the
leading bulls yesterday and on the unceF-
tain temper OF the market there were
many smaller sellers ready to assist the
decline. During the final hour calm
settled on. the pit and with the receipt of
bull news from Budapest relative to al
most total crop failure there, and from
Kansas City, where it is said that elevators
We're almost empty and but little wheat
was to=be had. the close was steady with
prices fractionally higher. Final quota
SLOTS.
Clearanees of wheat and flour were
equal to 50. 900 bu. Primary receipts were
7S2.500 bu. against 797100 bu last week
and 6s1.9Oo a year ago. Minneapolis. Du-
luth and Chicago reported receipts of $50
cars, against 290 last week and 500 last
year.
Corn Closes Off
Corn-Receipts were heavy and still
larger arrivals are looked for next week,
when the bulk of the grain bought in the
country by local firms during the last
week will find its way into this market.
With. so much cash grain in sight, and
with the weather such as to eliminate
for the present all fear of frost, bear
1Sh feeling took possession of the market
and there was little opposition offered to-
the declining tendency of prices. Sep
tember started 1zc lower at 5Sc and on
liquidation declined to 52c. December
was unchanged to &c off at the~opening
and sold down to 50s4c. Buyers seeming
ly found offerings plentiful and were dis
posed to bide their time. Southwest
houses were prominent in the selling and
q prominent bull September closed
weak at 521sc. The December option
found a few buyers al the low figures and
closed at 507sc. Local receipts were
1852 cars.
In oats. as in corn. fine weather and
prospects of heavy receipts induced gem
eraf liquidation. September opened at
1zc advance at 325zc and that was the
best price for the day The close was
within 1se of the low point at 32c. De-
cember was unchanged to 1sc higher in
the opening quotations. sold down to
32Bc and closed weak al SO 1se. Local re-
ceiptS were 298 cars.
Provisions We're weak under the pres
sure Of outside liquidation. steady
run OF hogs is said to be responsible for
the selling movement although the weak
ness in the grain market also had it's in
heaviest loss. 271a. at $11. 271s oil 80.
were down TIC at S7.25.
Estimated receipts for Monday:
Wheat. Is cars: corn. SIG cars; oats 293
cars; hogs, g., 900 head.
Range of Quotations
The leading futures ranged as follows:
OpenI Hight Low. Close.