The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-26
MAY STILL HEAVY,
JULY SUPPORTED
Corn Breaks a Little at Open
ing, Closing With Sharp
Rally

D.
pervaded the wheat market here today.
To all appearances the famous deal IN
May wheat is not absolutely a thing of
The past Influenced by substantial de-
crease in the worlds available stocks the
market closed firm with July up k@xc.
The May option closed precisely at yester-
days final quota tions. Corn is up 1sc-
Oats show gain of ls@Kc. Provisions
are up DC to nc.
Wheat
An altogether different feeling from that
recently in evidence existed in the wheat
pit today The opinion was generally
expressed that the Gates line of May
wheat had been entirely liquidated. With
the deal In May definitely settled. atten
cry. Rumors OF a contemplated deal in
that option under the guidance of in
nuentlai bulls gave considerable conf
dence TO shorts. who covered freely Not
wfthstanding favorable weather for the
development of the winter wheat crop.
sentiment during the greater part of the
day was quite bullish. At the opening
July was shade to A@ssc higher at
S41sc TO S5hc. May was &c to sc high
er at 93Ac to 932sc. There was little
nervousness after the opening and trade
IN the May option was made at CSC. with
other trades at the same moment at 93Ac
10 y4c From these figures there was
gradual decline under scattered offerings
oy northwestern houses and little elev-
enth hour liquidation by small traders.
one OF the big longs also was credited
with moderate sales. The selling pressure
TO 92c towards the end OF the first hour.
Meantime the price of July had eased off
TO S42c under selling by pit traders.
Sentiment then changed and for the re-
mainder of the session a firm tone pre-
vailed. The principal cause of the firm
ness was decrease of 4.414, 600 bu in the
worlds visible supply as against an in
crease og $4,000 bu for the Corresponding
week last year
Another bullish factor was a report from
Baltimore that the first contracts for
SHIPMENT " fO had
been made there today. On the theory
that future deliveries had been generally
oversold during-the smash in May prices
the demand for the more distant options
was active during the last half Of the ses-
sion. The market responded to the inn
proved demand. July advancing to S52sc.
the highest point. May crossed at 93c
Clearances of wheat and -four were
equal to 1920 bu, primary receipts $685.
900 blu. compared with 2O4 500 bu a year
reported receipts of 314 cars. against PAS
cars last week and 102 cars a year ago.
Corn
Liquidation of the May delivery was the
feature OF early trading in the corn mar
ket The selling was quite evenly dis
tributed. without particular prominence to
any individual operations. Prices ca Sed off
trifie under this profit taking. Later in
ket became strong. Closing prices were
at the highest point of the day. An in
crease of only SIS, 600 bu in the worlds
visible supply was one of the bullish in
fluences Estimated small receipts for to-
morrow formed another strengthening fac
tor. July opened unchanged to &c lower
47c and closed at the top. Local receipts
were 1888 cars, with "A of contract grade.
Oats
Influenced by early weakness of the corn
market the oats market experienced some
depression during the first hour, but later
lf..l
by early sellers to reinstate lines. A de-
crease of ,55S, 900 bu in the worlds visible
supply was the main bullish influence. July
opened shade lower at 29Bc. sold be-
tween 2Sz acc and 292sc and closed at
29Ssc. Local receipts were III cars.
Provisions
Provisions were weak at the start on
profit taking in pork brought out by a
1Oc decline in the price of live hogs. Cow
ering by shorts caused a substantial rally
and the market closed almost at the high
est point Of the day. At the close July
pork was up SC at $12.5 80. Lard was up
!ke at 81 :32k. Ribs were sc higher at
81. 121z az .15.
Estimated receipts for tomorrow:
Wheat, "A cars: corn, 81 cars; oats, AZ
cars; hogs, 81, 900 head.
Cash quotations were follows: Flour
easy. No. spring wheat. 921z Q941sc; No.
8, 93c; No. 2 red. 926s5c. No. = corn.
5 ss* 30 NSg yellow White ties sl0 SIC Mo- oats
ing barley. S7a39c; fair to choice mailing,
40647c. No. ! faxseed LIS: No. l
northwestern. $40. Prime timothy seed.
$3.50. Mess pork. per Dbl. So. 15@12. 20.
ribs, sides (loose). s675g6 Sly Short
clear sides (boxed). s6.S71k az 90. Whisky,
basis of high wines, 81. %. Glover. con-
tract grade, s13 so. Receipts-Flour. 26.-
100 brls; wheat, 224, 900 bu; corn, LAP, 100
bu; oats 129. 900 bu; rye. 5000 bu; barley.
%. 700 bu. Shipments-Flour. Il. 900 brls;
wheat. 5000 bu;. corn. 10000 bu; oats,
1S9, 800 bu; rye, 1000 bu; barley, $500 blu.
On the produce exchange today the but
ter market was weak. Creamery, 22d29c;
dairies. 20@24c. Eggs weak; at mark,
cases included. 14tzd14Ac; firsts. 151kc;
prime firsts, Ice; extras, lie. Cheese
strong l4c