The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-02
LIQUIDATION HAS
RUN ITS COURSE
Bears Stampede the Bulls
Early and Later Are Siam
peded Themselves

CHICAGO. March IA sharp rally in
the price of wheat today followed a de-
cline of an even cent under yesterday s
lowest hgures May wheat closed with a
abilities of decreased primary receipts
formed the principal cause of strength.
Corn and provisions are about unchanged.
Oats are up h@Sc.
In the face of lower prices at Liverpool
May up &c to sc at 81 i3& al Az. July
was shade to S@hc higher at 9S% n
$3.50. The initial strength was mainly
due to active buying by commission
houses. Decreased receipts northwest fur
nished the motive for the excellent de-
mand: Pit traders were the principal SELL
ers Toward the end OF the first hour the
market experienced a severe setback May
declining TO 81. 12h. July sold off to
97hc. General Liquidation of May was
the cause of the slump. report that
ment OF wheat from Duluth TO this market
TO fiji May contracts started the selling
AT the same time weakness Of corn en-
couraged bear traders On the break
shorts became active buyers. News from
Minneapolis was decidedly favorable to
bulls; reports indicating that receipts from
interior points would decrease materially
within short time. Primary receipts
also gave indications of a general falling
on, total arrivals today being only 1885,
900 bu. against 626 500 blu a year ago.
Late in the day the buying was of a most
influential character. the market readily
responding TO the demand. May advanced
to sl;16H and July to sstc, The close
was decidedly strong with May at 81 10.
Final quotations on July were at $3.50.
Clearances of wheat and flour were
equal to $4,000 bu- Minneapolis, Duluth
and Chicago reported receipts OF 212 cars,
against 4O5 cars year ago.
Early i'm the session the corn market
was weak as a result of heavy liquidation
by prominent commission house Larger
receipts than expected had some influence
vance in wheat an improved demand for
corn developed. The market closed
strong. with prices near the highest point
Of the day May opened unchanged to
Il a &c lower at 412sc to Az 647Ssc, sold
between 47lsc and 47%c and closed at
47ssc. Local receipts were 2S2 cars, with
one OF contract grade
Oats
An active demand for cash oats was the
chief reason for strong undertone in the
ers were good buyers. May opened I'M
changed to a shade lower at SIC to $40
81 sc, sold up TO 81 s@31&c and closed at
31ssc. Local receipts were $50 cars.
Provisions
At the start sentiment in the provisions
market was rather bearish. but later a
firmer tone developed on the strength of
grains. Trading was quiet the entire day.
AT the close May pork was shade higher
at So. 55. Lard and ribs were unchanged
at Sc. s5 and Sc. 70. respectively.
Estimated receipts for tomorrow:
Wheat, cars; corn. All cars; oats, 12S
cars; hogs, 80. 900 head.
Cash Quotations were as follows: Flour
easy. No. 2 spring wheat. s1.OSG1 Is;
No. 3. 81 .O5g1.15; No: red. 81. 121s %
1.16k. No. corn. 45hc; No. 2 yellow.
45%c. No. . oats. 81 sc: No. white. 32ll
@32Ac; No. 3 white. 31@32c. No. rye.
75@77c. Good feeding barley. 3sc; fair to
choice mailing. 43@4sc. No. l fiaxseed.
81 %; No i northwestern. 81 .351z. Mess
pork. per Dbl. $12. 40G12. As. Lard, per 100
lbs. $3.50, Short ribs sides Qoose): Sc. So
@6. 90. Short clear sides (boxed). Sc. $50
6.s71s. Whisky. basis OF high wines. 81 %.
Clover, contract grade, s12 80. Receipts
Flour. $4,000 bbls; wheat, 1000 bu; corn.
$4,000; oats, 376.900 Blu; rye, 1000 bu;
barley. 159,s00 blu. Shipments-F1our. 49,
900 bbls; wheat. 24.400 bu; corn, ICE. 800
bu: oats. SIS. 900 bu; rye. $500 bu: barley.
1920 bu. On the produce exchange to-
day the butter market was steady. Cream
cries, 24G32c; diaries. 24@27c. Eggs
steady; at mark, cases included. 26@27c;
firsts, PC; prime firsts, 29c; extras, SIC.
Cheese steady, 12Q13zc.