The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-09
fRRATIC AND WEAK
WHEAT MARKET
Deferred Options Break Sharply
July and September Off
Three Cents

.tShICAGO. March SIN a whirf of ex-
Element today wheat for July delivery
I IaoAe &c from the highest point of the
gay. Other options shared in the weak
ness Favorable weather for the growth
OF ran sown wheat was largely the cause
OF me sharp decline The closing price
OF the day, the net loss being 2sc. May
Is down 1h61&c. Corn and oats are
pTactica1y unchanged. Provisions are
The wheat market opened quite steady
as result OF comparatively firm prices
at Liverpool. May was unchanged to &c
lower at 81 14S to 81 14E. July was &c
pwer 10 &c higher at $3.50 TO 967sc-
tIaulnS, however, was barely under way
before sharp break occurred in the price
OF the May option. Just after the open
ing ing May touched 81 .14&. Then within a
ll2lz. The fall was accompanied by
great confusion in the pit. The break
started on selling by leading holder, fol-
lowed by general liquidation The July
option was affected heavily by the up
setting OF May. but even more by favor
aoie weather conditions throughout the
west and southwest: AS the session adj
vanced the opinion that the movement re-
port due Friday will show a wonderful
Improvement In condition Of fall sown
wheat gained many adherents and in
increasingly weaker. In the meanwhile
however, the market experienced a tenn
porary rally. Shorts were active buyers
of May, causing a recovery OF about a
cent.
A revised report OF the condition of
the Kentucky crop. making the average
90 instead OF 81. as announced yesterday.
was factor partly responsible for the
upturn. Late in the day July was sub
1ected to heavy selling by a big holder.
PIT traders also sold freely. The market
dropping to ss&c. The close was at
$3.50 May was comparatively steady the
latter half of the session, trading being
margeiy IN the July option. AT the close
PRIMARY receipts were 340.S00 bu. COM
pared with co.. 200 bu year ago. Worlds
decreased 100000 Blu. Minneapolis. Du-
luth and Chicago reported receipts of LIS
cars, against 212 cars last week and I23
cars year ago.
The corn market was independent of
wheat ruling firm throughout the day.
Support by Wall street interests was said
TO be the mainstay of prices. Shorts and
provision interests also were good pur-
opened unchanged to a shade higher at
4I1sc TO 41A GISc. sold between A7%c and
4S1zc and closed at 4Sc. Local receipts
were 3Io cars, with of contract grade.
Oats
Trading in oats was fairly active and
the market was firm in sympathy with
corn May opened unchanged at 31&c
sold between 3l1kc and 32@35kc and clos
ed at BIS 431Ac. Local receipts were
161 cars. n
Provisions
Little interest was manifested in trad
ing in provisions. Sentiment was rather
bearish and the market lacked any def
mite support. May pork closed 2kc low
er at $12. 40. Lard and ribs were each off
2z@5c at 81. 021k and s6.S5. respectively.
estimated receipts for tomorrow:
Wheat, Is cars; corn, 81 cars; oats, 10
cars; hogs, $4,000 head.
Cash quotations were as follows: Flour
was-steady. No. 2 spring wheat, SLIGO
1;l5; No. 3. 81 .o4q1 ID: No. red, 81 .14s
Gl;17%; No; corn, 46hc; No. > yellow.
33Ac: No. white, 31% G32%c. No. .
rye. 7S@7Shc Good feeding barley. 3sG
Ale; fair to choice mailing. 44@47c. No.
l flaxseed. s1.261z; No. / northwestern.
81 1914. Prime timothy seed. 50 .05. Mess
Pork. per Dbl. s12. 6O912. SIS. Lard, per
100 lbs, s6.S7h 96. 80. Short ribs sides
iboxedi. Sc S7h@7. 90. Whisky. basis of
high wines. 81. %. Clover, contract grade
$12. So. Receipts-Flour 1890 brls;
wheat, $4,000 bu; corn 500 800 bu; oats.
349. 500 bu; barley. les. 800 bu. Shipments
Flour, $500 brls; wheat. 35 200 bu:
corn, 215,500 bu; oats. 101,600 bu; rye,
$500 bu; barley. 600 blu. On the prod
uce exchange today the butter market was
weak. Creameries, 21H26c; dairies 1870
24c. Eggs steady to firm; at mark, cases
included, 19@19hc; hrsts, 1910; prime
firsts, 201ec; extras, &c. Cheese firm. Il
nl3bc.