The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-06
BULLS PUT SCREWS
ON MAY SHORTS.
Run May Up Nearly Four Cents
and Close the Market
Three Cents Higher

CHICAGO. April b---An advance of
3Ac in the price of May options gave
strength to the entire wheat market here
today. An urgent demand from shorts
was responsible for the sharp upturn in
May At the close May wheat was up
an even cents. July was up SI1c-
July corn also shows a gain of Il G1c.
oats are up y M1zc and provisions 1Oc to
Wheat
Strength in May wheat was in evidence
at the start. the opening being &c to Sc
higher. at s1.14 to s1.1lh Distant de-
iveries, however, were weak, July being
on &c TO nc to nc to SC at S7ssc to
Sl4sc- The cause OF the strength of May
anticipation OF bull raid. Weakness of
the July and September deliveries was
due TO lower cables and to continued IA.
vorable weather, conditions Frosts were
reported as far south as Texas, but tenn
peratures recorded were not low enough
20 suggest any injury to the growing
also were most favorable for seeding
State reports from Ohio Kentucky and
missouri were received and all were ex-
tremely bearish. showing a marked inn
provement in the condition of fall sown
wheat Under ordinary circumstances
THESE influences would have been suffi-
market
Manipulation OF May by the bull CLIQUE.
however, was enough of factor to coun-
ter balance all these bearish Influences.
May mounted higher and higher, until il
had reached s1.IT=4. Offerings were very
,,gnt ana me entire volume Of trading
IN mat option comparatively small The
strength OF May gradually started a COW
ering movement In July, which later de-
ve,oped into quite active demand. The
only item or bullish tenor in the days
news was an estimate of the amount of
wheat stiH in farmers hands in Ohio
0 egd GA ngures place the amount at p
100000 bu. compared with T. 500 900 bu a
year ago. bulge in corn was late
bull factor In wheat Realizing In Nav
caused some reaction just before the
hlsnest point. at SSBc. Final quotations
on May were $1.17
Clearances OF wheat and flour were
equal TO l03,1O0 bu. Primary receipts
were 627,6O0 bu compared with SOS. 300 bu
year ago. Minneapolis, Duluth and
chicago reported receipts of 16S cars
against 24O cars last week and PAL cars a
year ago.
The feature of trading in the corn mar
ket was active covering of May and a
consequent advance of 11kc in the price
Of that delivery. There was little in the
way of news that had any immediafe
bearing on the action OF the market. al
though cables were trifie higher. Trad
ton. offerings being wholly Inadequate to
supply the wants of some of the larger
shorts Strength OF May had buliish
July opened unchanged at 47Kc. sold off
to !5sq4Ihc. and then steadily advanced
TO ass @4S14c, where it closed May
ranged "a between 47Hc and 4s9sc and clos
cal receipts were 1S5 cars.
Oats
Oats were firm. The volume of tradinp,
was light and the market was governed
almost solely by the strength in corn.
S5ni syr opened pc ed, shade lower to shade
and closed at soc. Local receipts were ISIS
cars.
Provisions
Provisions showed considerable strength
ana business was of liberal proportions
An advance of loo to 15c in the price of
I'VE hogs caused scramble by shorts
to cover at the outset. and as packers
bulls had their own way. Local longs
sold moderately. The market closed al
the highest point of the day with July
pork up 2Oc at s13.1715; lard was up IOc
at 81. 10 and ribs were l5c higher at 81 40.
estimated receipts for tomorrow:
Wheat. % cars; corn. $50 cars; oats, $50
cars; hogs, 1900 head.
Cash quotations Were as follows: Flour
easy: No; 2 spring wheat. s1.OS61.14;
No :. 81 LOCAL; 70: No. 2 red. s1I4G1 is.
2 oats. SO7sc: No 3 white soIE G31Ne.
No. rye, 7sG7S1sc Good feeding barley,
5Ia3se; fair to choice mailing. 43T47c.
Lard. per 100 lbs s7.i567 'f7iS, Short
ribs sides 0oose). s7.O0D7. 25 Short clear
sides tboxedD. S.o0@7. 121k. Whisky.
basis OF highwines. S1.23. Glover, con-
tract grade. $14. IS. Receipts-Flour. AZ
600 hrls; wheat. $4,000 bu: corn, 1,427. 500
bu; oats. COG: 100 bu; rye. IL. 900 bu; barley,
2l2,5OO bu. Shipments-Flour. Sc 800 brls:
wheat. $1,000 bu; corn. 944. 100 bu; oats
$4,000 bu; rye. 10000 bu: barley. 27.5OO
Du On the produce exchange today the
butter market was steady; creamery. 22eD
2Sc; diaries. 20G25c. Eggs firm: AT mark
cases included. 161kc; frsts. 1e5hc; prime
hrsts. 111sc; extra, 1S1kc, Cheese steady,
12m13hc.