The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-01-09

The Wheat Market Errntic-Opened
Weak, Became Strong and Active
Weakened ON Heavy Russian Ship
ments.
MINNEAPOLIS CHAMBER OF COM
MERGE, Jan. THE local wheat market
opened weak and lower Indifferent ca
bles and light receipts. Later gained
strength on the report that the visible sup
ply would show a large decrease. Still
later weakened under free offerings because
OF heavy Russian shipments during the
week and a higher estimate regarding the
Argentine wheat crop. The news from the
Argentine was contradictory as ever.
Some reports put the crop at Is per cent
below that of last year, others at 80 per
cent below, and again putting the crop al
6o,otoGD instead of 100, 0Ov0o0 blu, as former
~ eNtimated. With regard to the estimate
it is WI to state that it cuts no figure in
the marhe. The estimate may have been
excessive ,hetefore cut in the estimate
still leaves the matter in doubt as to
whether the crop is larger or smaller Ca
bieS We're not encoura s1nt. for the reason
that they indicated firmnesS on the part OF
holders only. The thing that caused the
later weakness undoubtedly due to
Powers London cable saying that Ruse~n
shipments alone reached $4,000 qrs for the
week or 100000 blu. and that the trade
VIII be excessive in the near future. This
feature l. truly dscouraging Rosario, how
ever. is Yet to be heard from. which may
possibly kill the Argentine crop. Clear
ances from the Seaboard We're quite liberal
arr, increased the hope of the bulls. New
expor, trade, however, is light, and conces-
sions ha.'e to be made in order to make
sales on fN,Hign account. The visible sup
PLY st4tement was posted at II 80 a. m
showing a decrease of 5000 bu These
tip1ros no mn leading to those VINO
have not kept track of the gossip of the
past week, 1t is we'll hnown that about
LOO. 600 bu were held by line OF elevators
In Chicago. which have sone out OF tne
regular elevator system and no. counted
In the visible. The wheat is. however
there as before, and actually points 10 an
Increase instead of decrease. Loeas
stocks only increased about $4,000 bu, and
Duluth about $4,000 bu during the week.
May wheat opened at o9s4c, against $3.50
zoe Saturday. lost Lice, frmed up to 6oisc
dropped to $3.50, firmel up to Golsd6Ol4c
and declined to 5914M59ssc by noon.
July wheat opened at 605sc asked against
Gi,"5p7sc Saturday, sold at 601ac, firmed
up to Sic. declined to 60a4 G6O7sc, advanced
to 81 Lice. and dropped to 60iac by noon.
The cash wheat market was fairly active
with IA good demand from local miers
No. | hard held at Sic; No. l northern
al Goc and No at 5S1ac to SOC. Sales
made per statement below
Receipts here were 203 cars, and ears
shipped.
During the noon hour the market was
quite active but cannot be called strong
Second cables advised of light declines in
Liverpool and London. Closing cables
showed slight advances in Liverpool Paris
ana decided advance of l mark in Berlin
The English visible decreased 100000 bu
during the week. and the amount on ocean
passage Increased 2G36,0O0 bu, which is
nearly q stand-off. st. Louis reported sales
Of 10000 bu for export, but New York was
silent May wheat closed at 593sc and
July at 693sc.
The following the range Of price for
wheat today at Minneapolis:
January Closing today. 5Saic closing Sat
u Law. 59c.
.Jtv-opening. 59aac; highest. Go's@6ol4c;
-" 4, l9l2fi599sc closing today, 59sse; clos
fsturIay, 597sG60c.
Opening, 6o9sc; highest 81 Lice: low
a,@sd6el2c; closing today, 6c3sc; closing
~, 60a,M6o7sc
'rrack-No. / hard 6olac; No. / north
d. 59i &C. No. 2 northern. 5sc 5
CnHD May wheat, nominaly. 5o7s
Puts on May wheat. ..... ................... $685.
ia y on May wheat, sellers. ...........5 500,
SOME SAMPLE SALES
=" n nrfI to arrive. IS cars Soc
NJ. nertietn to arrive 20 cars. ........... 6oic
NJ. l northern. cars ACKNOWLEDGEMENTS. 6ol,c
NJ. northern 5 Observation-Disclosures. 5Sl.c
~. northern, i car ....................... 5Sac
NJ. Wileat. car Observation-Disclosures.
Rejected wheat. IL off, ear ........... 55isc
Eei~cte'l wheat off 3 Observation-Disclosures. SIC
Neglected. wheat off ars............... sec
i.r cnh' l c'r .....''''t'... ..--........... Ace
No corn. I cars NEUTRALITY-SUSPICIOUS.. Acc.
NJ > oats. cars OBSERVATION-DISCLOSURES. 29sc
No = White oats cars ........4........ 2es,c
NJ. ) white oats, cars ...................... SOC
M ; oats. stained ........~........ zoe
q" graft oats. l car. 2sa4c
NJ barley. 5olhs OF, car.............. 47c