The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-21
Wheat

Wheat
Weakness in the wheat market was
manifested at the start Initial quota
lions OF May were off &c to sc at 81. Is
at SI11c to S71k GS74sc. Conditions gen.
orally were favorable to the bears. One
OF the main influences was rain through
out Nebraska Iowa, Illinois. Kansas. the
Ohio valley and parts OF Missouri. APP
prehensions concerning drought damage
TO growing wheat were thus relieved.
Soon after the opening May suffered per-
ceptlDly on what seemed to be moderate
profit taking, the price declining 10 81 .12%.
Active buying of July by Armour, how
ever, gave support TO the entire market.
As result May quickly rallied to 81. Is.
Later the selling of May became extreme.
ly heavy and prices rapidly declined. A
story that started flood of offerings in
the pit was that John w. Gates had eff
fected private settlement with the Ar
mour forces. whereby Gates would turn
over lO,OO0,0Oo bu at or very near the dol
lar mark.
Offerings TO sell May wheat came ap-
parently from almost every trader in the
pit. The result was that Bedlam marked
the sensational decline which followed.
reached 81 0S5k. Sales of May wheat on
the break were estimated at between
100000 and 100000. The story Of the
alleged settlement of the May deal while
regarded by many as evidence of the de-
feat OF the Wall street coteries. was not
believed on all sides. There was consid
cradle gossip to the effect that Gates
and his followers had shifted the May
deal TO Armour and others and were get
ting into July against the sales of May.
During the sharp break in May distant
9 SeI 81 also sold off. July declining TO
S6ssc. The market made a partial re-
covery late in the session on buying by
shorts. but the close was weak with May
at LILO. July closed at S72s GS71zc.
Clearances of wheat and flour were
equal to $1,000 blu. Primary receipts were
$4,000 blu, compared with 1S4, 200 bu a
year ago. Minneapolis, Duluth and Chi
cago reported receipts of 16S cars, against
223, cars last week and IO4 cars a year
ago.
Corn
Notwithstanding the slump in wheat
the corn market was steady. Decreased
receipts and prospects of a continuance
OF small movement formed the chief
basis of support. The volume of trading
was exceedingly small. July opened I'M
changed to a shade lower at AS G471sc
closed at 4I5s @47Ac. Local receipts were
144 cars, with of contract grade.
Oats
Sentiment in the oats pit was rather
bearish, owing to heavy rains throughout
the country. Trading was fairly active.
sc to &c lower at 29Ac to 292sc. sold
between 29Ac and 29tsc and closed at
z9Ss @2S12c. Local receipts were 81 cars.
Provisions
Provisions were easier, influenced by
lower prices for live hogs. Trading was
exceedingly quiet At the close July pork
was off 2l2c at $12.75. Lard and ribs
Were each down 21Ac at S7.321a and
81 .17ik respectively
Estimated receipts for Saturday: Wheat.
63 cars; corn, 191 cars; oats, 1o7 cars;
hogs. 1900 head
Cash quotations We're as follows: Flour
easy. No. spring wheat, $1.O5@1. u;
NO 3, 81 O0@1.12 No. red. $1.OS1.@
]. 49,. No. . corn. 47%c; No. 2 yellow,
49c. No. oats, 30c; No. white 29Ik@
3l%c. No. rye, 7Sc- Good feeding bar
ley, S7gSse; fair to choice mailing. 40
41c. No. l faxseed. 81 -; No. l north
western, 81. 40. Mess pork. per brl, So 40
@12. 10. Lard, per 100 lbs, 81. OK al. 10.
Short ribs sides (loose), Sc. 1907. 90. Short
clear sides CboxeD, SC. S71k az. 90. Whis-
KY, basis OF high wines, $1.23. Clover
contract grade. $14.O0. Receipts-Flour.
5000 brls; wheat 900 bu; corn. 1885,
900 bu; oats. 152, 200 bu; barley. 6O1OO bu
Shipments-Flour, i, 400 brls; wheat, 49,
100 bu; corn, 526600 bu: oats. 252, 100 bu;
rye. 1880 bu; barley. 1900 bu On the
produce exchange today the butter mar
ket was steady; creamery, 25631c; dali
ries, 23m2Sc. Eggs easy; at mark, cases
included. 151s; firsts, 15%c; prime firsts
1910; extras, 17Rc. Cheese firm 14c