The independent., 1907-02-28
WHEAT OFF A FRACTION ON IN
CREASED STOCKS.
BRISK SELLING AT OPENING
Commission Houses Begin Unload
ing at the Stmrt--CorD Down
Quarter Cent and
Oats n Half.

CHICAGO, Feb. 27.--Increased stocks of
wheat at Minneapolis and lower prices
at Liverpool were the chief factors caus-
Ing weak wheat market here today At
the close the May delivery was offA@
%c. Corn was down 1sm14c. Oats de-
clined asGD1ac. Provisions were up 21sc
to 10c.
Commission houses commenced to sell
wheat at the opening OF todays market
ON the report that the amount Of wheat
in store in Minneapolis had increased
GO0,000 bushels and on the statement that
prices at Liverpol had declined I'D AS
the session advanced additional news of
bearish character was received which
added fresh impetus to the selling move
mcnt. II was reported from Russian
markets that the wheat crop III the south
ern provinces OF that country had not
been as seriously damaged as had been
reported. Conditions in this country
were favorable to the bears. Receipts
In the northwest were liberal and the
weather both in the northwest and south
west was favorable for The crop move
ment. The market closed weak. May
opened unchanged to shade higher at
tJAWfitSC W IISC, bOlu dl ltlSWfsC dnd
then declined to 77hG77asc. Final quota
tons were at 771zc. Clearances of wheat
and -four were equal to 166,900 bushels
Primary receipts were $4,000 bushels
against 100000 bushels for the same day
last year Minneapolis. Duluth and Chi
cago reported receipts OF 423 ears against
575 cars last week and 403 cars year
ago.
Trading was quiet in the corn pit and
the market was firm in sympathy with
Il At.x{rt nlr r<1ef
cars In excess OF the estimate and
weather conditions were favorable for
the movement. Pit traders were the
principal sellers and offerings were ta-
ken chiefly by commission houses. The
close was easy with prices at the lowest
point OF the day. May corn opened a
shade higher at 4711c, sold off to 47Ac,
and closed at the bottom. Local receipts
were $50 cars with two cars of contract
grade.
holders. The break in wheat was large
ly responsible for the selling pressure.
Small local receipts caused considerable
buying by cash houses but the demand
was not sufficient to prevent amterial
decline in prices. May oats opened un-
changed to a shade higher at 42as@42l2c to
421sc, sold up to 429sc, and then declined
to 42c, where 1t closed. Local receipts
were SO cars
Provisions were firm on buying by
May pork was up 1Oc at $l6.5o Lard was
up 3hc at s9.72l3e. Ribs were 5I7Sle
higher at 50 .10M9 .l2la.
Estimated receipts for tomorrow are;
Wheat, q cars corn, 3ol cars; oats, s.
cars: hogs, $4,000.
Cash quotations were as follows:
F1our--Steady
Wheat--No. spring. sons3sc; No. 3, 72a
s21ac; No. 2 red, 743s175c.
Corn-No. 2, 43ac; No. 2 yellow, 44i9c
Oats-No. ?, Ale; No ? white, 431ac; No
white. 4lAN42ssc.
Rye-No. 2. 6oc.
Barlev-Fair to choice mailing. e2aD64c
Flax seed No |, Sill; No l north
western, Sl.H
Timothy seed-Prime, $4.506pi 60
Clover-Contract grades, Sl3.50.
Short ribs. sides tlose) Ss.S7l5'09. 90
Mess pork--Per barrel. SIG. .50af16 .55
Lard-Per 100 pounds, $9.5712.
Short clear sides tboxedD. So. .25Gl9 3sla.
Whisky-H %
Receipts. Shipments
IS1nnr rrale- Al % TM