The Saint Paul globe., 1905-03-26
SHORTS IN MAY
DRIVEN TO COVER
Wheat Market Firm, Corn and
Provisions Hold
ing Well


CHICAGO. March 25.-Rumors of
revival of the bull campaign in May
wheat had Strengthening effect on the
wheat market in general here today.
At the close May wheat was up &c.
July is up &c. May corn showed
gain of Il a &c. Oats are off 80 &c,
and provisions are almost unchanged.
Wheat
AS result of higher prices at Liver
pool, the wheat market here had a firm
tone at the opening. May was un-
changed to 1sc higher at s1.121s to
Sl.l25s. July was up shade to Il a sc
at 9O12c to 90Ac. The excellent out
look for the new crop, however, in
duced some selling of July, and in con-
sequence the option declined TO 90Ac.
Many operators were considerably
disturbed by rumors that the May deal
was not yet finished. and that 1t was
the intention of Wall street coterie
to force the price of that option to a
much higher level. The fact that one
of the recognized leaders of these east
ern spectators was in Chicago yes
terday gave some emphasis to such
gossip.
In addition to the revived interest in
the May option advices from Mime
apolis claimed that there was a good
demand from elevators and millers for
all grades of cash wheat. The effect
or excellent weather conditions was
completely offset, the market becoming
quite bullish. May was in good de-
light. From $1.13 the price of that
option advanced to s1.14 without
single trade. At $1.14 commission
houses sold moderately and the price
reacted somewhat. A belief that July
had been largely oversold caused fair
buying of that option late In the day.
The market closed strong, with May at
s113$. Final quotations on July were
at 9O% @9OBc.
Clearances of wheat and flour were
equal to 71,700 bu. Primary receipts
were 351, 200 bu, compared with $4,000
bu year ago. Minneapolis, Duluth
and Chicago reported receipts of 223
cars against 276 cars last week and
220 cars year ago.
Corn
Influenced by the strength of wheat.
the corn market exhibited considerable
firmness. Shorts were good buyers,
and offerings were comparatively light.
Higher prices at Liverpool had some
effect on the market here. May opened
under to shade lower at 4Sssc to 1885
csc, sold between 1885 @4S1ac and
49c and closed between 4S% @4Skc
and 49c and closed at the highest point.
Local receipts were 425 cars, with 25
of contract grade.
Oats
A liberal movement and a near ap-
proach of the feeding season caused
selling of oats by cash houses. The
result was a weak market. May OPEN
ed unchanged to &c lower at 30%c to
30Ac. sold off to 301kc and closed at
3O1a @S0ssc. Local receipts were 243
cars.
Provisions
Provisions were firm early in the
day as result of small receipts of
hogs. Later an easier tone developed
on moderate liquidation of pork. At
the close May pork was off 2iz a sc at
S12.171e @12S0. Lard was up 215c at
SI15@715k. Ribs were up 21s G5c
at S6.971s.
Estimated receipts for Monday:
Wheat, 60 cars; corn. $50 cars; oats.
346 cars; hogs, $4,000 head.
Cash quotations were as follows:
F1our-Dull. No. 2 spring wheat sl.Os@
liz; No No ST.; s1O2qI11 No f1os red s1IsS@ ts,
No. oats. 301k 630Ssc; No. 2 white. 32I4c
No; white. sOh G31Sc; No; 2 rye, $50
l-23; No. ! northwestern. s1.S5. Prime
timothy seed. 81, 25q2. so. Mess pork. per
s6i; 6o,t sle B3 1eq12I5 % Lard per 100 Obs, lbs,
se.S1h@7.00. Short clear sides (boxed),
5000 7.l2h. Whisky. basis of highwines.
ST. Clover contract grade S13.35. Re-
ceipts-F1ouT. 1000 bbls; wheat. $4,000
bu; corn. 490, 700 bu; oats. 242, 200 bu; rye,
1000 bu; barley. $500 bu. Shipments
Flour. Al. 500 bbls: wheat &c. 900 bu: corn.
2l3,70 bu; oats, 314.100 bu; rye, 5000 bu;
barley, 49.400 bu. On the produce ex-
change today the butter market was firm:
creamery 2362Sc; dairy. 20622c. Eggs
iirm at mark. cases included. 16Ac: firsts.
l6A; prime firsts. lie; extra, 1Sc. Cheese
Firm; I2@13hc