The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-07
HEAVY SELLING OF
DEFERRED FUTURES
A Stronger Opening Followed
by Realizing and Short
Selling

CHICAGO, April 6.-Reaction from fear
OF an acute squeeze in wheat weakened
early In the session. The July option
closed at a net loss of Z61c May,
tn though up sc is Ne below the top figures
down &c. Provisions show a loss of 2k a
12hc.
Wheat
Strength of the May option was the
main factor in the wheat market at the
opening. Initial quotations on that de
livery were up &c to 1Ac, at s1.1S@1.1S%.
July was unchanged to &c higher. at
hat exercised considerable influence was
a substantial advances in the price of
wheat at Liverpool. The sharp upturn in
May was due TO an urgent demand from
shorts. Owing to the congestion in May,
commission houses showed signs of in
creasing unwillingness to take new trades
gins. A sharp call for excessive margins
Is said TO have forced some of the cover
ing purchases at the start. 1t was re-
ported that margins as high as zoe a bu
had been sked. AS the session progress
ed the dread of a sensational advance in
May resulting from a bull raid as affect
some prominent local operators who had
covered July wheat as a precautionary
measure, commenced TO resell. Offerings
were sufficiently heavy to start a decline,
which developed into considerable weak
ness before the end of the day.
Poor demand for cash wheat in all out
side markets had a depressing effect on
speculative trading here. Additional re-
ports were received telling of favorable
growth of the fall sown crop. Another
bearish influence was an estimate of g.
soc. 600 bu as the amount of shipments
from Argentina for the week. ompare
with 2.616. 600 bu last week. Late in the.
day May wheat sold off to s1.17A and
July S7Ac. The market closed almost at
the lowest point of the day. with May at
sl1a& Final quotations on July were
VI 80 -l- -.
equal to 5000 bu. Primary receipts were
325, 500 bu, compared with 374, 200 bu q
year ago. Minneapolis. Duluth and Chi
ago reported receipts of 239 cars, against
2S3 last week and 302 a year ago.
Corn
ments from Argentina created bearish
sentiment in the corn market during the
last half OF the session. Early in the day
the market was quite strong as a result
of higher prices at Liverpool and smalled
local receipts than expected. Shorts were
good buyers; prices declined OF profit
at the lowest point of the day. July
opened a shade to s@Ac higher, at 4SL
G4SSc, sold off to 47Ac and closed at
asc. Local receipts were Alb cars, with
Covering by shorts and a fair general
demand caused moderate frmness in oaU
early in the day. Later the market weax-
ZIG III osihpdtug with OtneT STdlnS- July
opened unchanged to a shade higher at
30c TO 30G30hc, sold between 29Ac and
SO34c aad closed at 2sSc. Local receipts
were Ice cars.
Provisions
Provisions were firm early In the day
on fairly active buying of lard by a
prominent packer. Higher prices for hogs
also had a bullish effect. An easier tone
developed on the decline in grains. At
the close July pork was off 1215c, at
1905. Lard was down PIC. at s7.421h.
Ribs We're 5@7hc lower, at $7.32h @7.35.
Estimated receipts for tomorrow:
wheat. 20 cars; corn. 296 cars; oats. 95
cars; hogs. "a. 900 head.
Cash quotations were as follows: Flour
steady. No. = spring wheat. $1.10@1.15;
3, $1.02@l.14; No. 2 red, S1.17A@
i;ls%. No. 2 corn, 4sHc; No. 2 yellow.
sS%c:a No; 2 oats. Soc; No. 2 white, S3c;
30 : white 3OgS2A. No. 9 rye, $50
TO choice mailing. 43@47c. No. i naxseed.
Sl.24; No. l northwestern. s1.3S. Mess
pork, per brl. So. S0G12.S5. Lard. per 100
lbs, S1.12h OILS. Short ribs sides (loose).
SnO0G t.1215. Short clear sides Cboxed).
SL:OO0 I.1219. Whisky, basis of high
wines, S1.23- Glover, contract grade,
sI4.35q14.40- Receipts-Flour. Is. 500 brls;
wheat, 5000 bu; corn. 594. 900 bu; oats,
10y. 200 bu; rye. 1000 bu; barley, SO. 500 blu.
approximations. %. 900 brls; wheat, A.
zoo bu: corn. AS, 100 bu; oats. 226, 500 bu;
rye. 1000 bu; barley. $1,000 blu. On the
produce exchange today the butter mar
ZVqZbc. Eggs firm, at mark. cases in
GUIDED, 16hc; firsts. 16kc; prime frsts.
Ia1zc; extras, 1S1zc. Cheese steady, 12@