The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-28
WEAK At OPENING,
CLOSING FIRMER
Liquidation In Grains at Open
ing Checked by Shorts
Covering

CHICAGO, April 27.-The price for May
delivery fell "A cents a bushel today on
renewed selling by discouraged holders.
The lowest point of the day was touched
at S6S4c- The weakness was due largely
TO sharp decline at Liverpool and to
continued excellent weather in America.
The market became quite firm late in the
session on covering by shorts. At the
close May wheat was of 34c. July wheat
is down sc. corn is up 4 O sc. oats show
a gain of sc. Provisions are unchanged
to 111zc lower.
Wheat
At the opening the wheat market was
decidedly weak. May was of 1Ac to 3Lc
at SS1zc to e0c. while July was down &c
sales from scattered longs the price OF
May was forced down TO s6Ac before the
end OF the first hour. Millions OF bushels
OF wheat are said to have changed hands
during the break. July slumped of in
sympathy to S2A Gs22sc- number OF
influences entered into the situation and
tended TO create the prevailing bearish
sentiment One Of the leading elements
was sharp break In wheat prices at Liv-
erpool. Another prominent factor was
weakness at Minneapolis Perhaps the
most vital cause, however was the ex-
cellent weather prevailing generally
throughout the United States. Additional
the winter wheat belt. With predictions
OF higher temperature. prospects were ia
vorabie for the rapid development of the
fall sown crop.
Toward midday buying OF May by a
leading bull gave some support TO the
market. but the effect of the buying was
partially offset by rumor that the same
operator was selling under cover Later
hrmer tone developed on quite general
covering by shorts. One reason for i'm
proved demand was report from North
Dakota TO the effect that seed wheat was
rotting I'm the ground. Another reason
was report from Minneapolis telling of
improved demand for flour for export.
The price OF May held firmly around SSc
during the last part of the session. while
July advanced TO S3L 6S3%c The close
was moderately firm. with final quota
tions on May at Ssc. July closed at SIC.
Clearances of wheat and -four were equal
TO $500 bushels. Primary receipts were
$4,000 bushels, compared with $4,000
bushels a year ago Minneapolis. Duluth
and Chicago reported receipts of I73 cars
against los cars last week and 73 cars
year ago.
Lower cables and the break in wheat
caused heavy selling of corn early i'm the
session. resulting in considerable weak
ness. The selling. however, was general
and was not from any influential source
Seeing the leading bulls were not Offering
Freely pit traders gradually curtailed their
sales. and with good demand from shorts
the market became quite strong. Small
primary receipts had q bullish effect
y ~ y54 opened soIa &c to &c lower at 1850
SOS 446lzc. Local receipts were "A cars.
with OF contract grade.
Oats
Influenced by the weakness of wheat and
corn. commission houses were active
sellers OF oats early in the session AS a
result the market had a weak undertone.
Later the market rallied on buying by
shorts and closing prices were practically
at the highest point of the day. July
opened shade to &c lower at 2S1kc to
2Sss @2S&c. sold up to 2S7sc and closed at
the top. Local receipts were 63 cars.
Provisions
The feature OF trading in provisions was
renewed liquidation of May holdings The
market was weak throughout the entire
day Lower prices for live hogs had a
depressing effect. The slump In grain
also had weakening influence Pork
showed the greatest loss. the July option
Lard was on EQ5c at 81 20. Ribs were
unchanged at s7.12h.
Estimated receipts for tomorrow:
cars: hogs. $4,000 head
Cash quotations were as follows: Flour
easy; No; spring wheat. S6d90c; No. 8.
29c; No. white. 31@s1ssc; No 3 white.
ZS% @3O4sc c: No. rye. 73isc. Good feeding
6aTley: S1@Sse; fair to choice mailing,
northwestern. $l.4O. Prime timothy seed,
$2.s9 Mess pork. per brl, $11.90G11.95.
ribs sides doose1, :6.S5GS.S71e. Short oI
clear sides (boxed). s6.S7I6 az 90. Whisky.
basis of high wines. sI.23. Glover contract
grade. s13. so. Receipts-Flour. p. 600
brls; wheat, 81. 900 bu; corn. IS. 300 bu:
oats, 81 800 Blu; rye. 1000 bu: barley. AZ 800
blu. Shipments-Flour. II 800 brls: wheat.
1900 bu; corn. 2lS.9O0 bu; oats. 95. coo
bu; rye. 1900 blu; barley. 10. 500 bu On
the produce exchange today the butter
market was steady; creamery, 20625c;
dairies, 20@24c. Eggs steady. at mark,
! cases included. 14I4c; firsts. I5lh: prime
first, Ice; extras. 171zc. Cheese steady lac