The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-26
WHEAT MOVEMENTS.
CHANGE GOSSIP.


First cables; London-Wheat and corn off
coast, nothing doing. Cargoes Of wheat on
passage active at 3G6d higher per or; corn
quiet, English country markets generally I'D
OILS lower. Liverpool-Wheat firm at sd
dearer; corn, Ad higher. Paris-November
wheat 10 centimes lower; flour, rs centimes
lower.
Chicago Receipts-Wheat, 81 cars; corn, 157
Hog Receipts Chicago. 5000; Kansas City,
IL eco; Omaha, 5000.
A. . Chambers & Co. received the follow
ing:
The Northwest cars are $50 less than last
week and 80 less than last year Primary
receipts are 325000 less than last week and
primary points are $4,000 more than last
week and are 10000 more than last year.
Clearances from four ports of wheat and
flour are equal to $40, 600 blu.
In our yesterdays letter We did not quote
our Duluth correspondent we intended
We said that at the close of navigation they
would have there more than half million
bushels of contract wheat and not more than
two and one-half millions Of any kind Cables
this morning were up three pence and a far
thing and this served to open our market
with a rush.
The first trading was on May wheat at
S3Ac to S312c, or about 21ac over yesterdays
closing. There was slight reaction, but the
market has been strong all day, and there
is good evidence that the buying has been
of better class than the selling There has
been a dearth Of important news, but as we
have been saying, the position of our crops
and our domestic demand, together with the
demand from other countries, is sufficient to
maintain, not only a strong market even at
such an advance as this morning, but when
we consider all the facts calmly we are sur
prfsed that wheat is SO low. Today No. red
wheat has sold in this market at 93c per Blu
and No. 1 northern, spring, at 21ac premium
over the December price If these prices do
not bring out reserve from farmers hands in
the surplus winter wheat states we have a
right to conclude that there are practically
no reserves. Our visible supply is commenc-
ing early in the season to decrease and shows
now two and a quarter millions less than
last year. "a, 000000 less than 1894, II 900. 600
less than 1893 and nearly 1LO00 900 less than
1892. 1t is legitimately well as speculative
ly an exceptionally strong situation.
F. D. Brown.
Frank Jolly received the following: The
foreign markets responded to our advances
J of yesterday to the tune of Sd this morning
closing with the advance being maintained.
estimates given by Broomhall yesterday that
the importing countries would need II 900 900
blu monthly for the balance of the crop year.
If this be approximately true, with the win
ter wheat section of our country compare
lively bare of supplies in November we think
fancy prices may be paid for the last few
millions that wanted. The feature Of the
trade today was the free realizing by holders
and selling against calls. 1t was reported
from San Francisco that nine cargoes for
Australia, for Bombay and three for
Cape Town had been worked, and are now
loading at that point. The total of 263 900 bu
of cash wheat was taken in this market late
yesterday and today. The corn market has
been dull. but firm. Outside trade was light
most of the business being changing Deem
Der to May The cash demand was fair and
the receipts light. F. g. Logan.