The Saint Paul globe., 1896-12-09
MINNEAPOLIS GRAIN.

MINNEAPOLIS, Dec. S.-The weakness
shown in wheat in Liverpool and London was
not a surprise to local operators this morn
ing. They came down prepared for 1t and
felt rather disappointed because cables were
no weaker after our pronounced weakness of
yesterday. First prices for May were off sc
TO 1ac as compared with yesterday, and
proved to be the top price for the morning
session Trading was rather light and so far
as could be learned purely local in character
with operators following the UPS and downs
recorded in Chicago and New York.
The bull feeling is gradually eozing out
and those who were bullish at sc higher are
now talking of another decline Of &C before
Christmas. The domestic cash demand is
modeTating and foreign demand very light
and likely to be till after the advent of the
new year. Foreigners have bought enormous
quantities to go forward and generally feel
that wants are fully cared for, for the next
month or six weeks at least. The news of the
day was generally bearish in tone save the
large clearances from the seaboard and Ar
gentine advees regarding a poor yield and
very light surplus for export. Adyices from
India are trihe more favorable for the grow
ing crops. 1t is said, however, that specula-
tion still continues there and prices appreci-
atng daily, thus aggravating the situation
there. San Francisco reports that prices are
declining there owing to a more moderate
demand, but that two cargoes have been
worked for Australia at the decline; also
that one cargo which cleared for India had
received orders TO proceed to Chill instead
Among other statistics this morning we find
that the amount of wheat and -four in Eu-
rope afoat and in this country is practically
the same as last year, viz: SO 600 900 bush
els. New York advised that houses having
English and continental connections were
free sellers of futures this morning and that
Liverpool longs were also unloading upon
their fellows. The worlds visible is expected
to show a decrease of 1900 900 bushels to-
day. Last year the decrease was only 475,-
600 bushels
Clearances from the Atlantic seaboard to-
day aggregated 519 900 bushels largely COM
posed of -four This makes little over two
million bushels for the past three days from
the four ports alone. 1t also points to a very
large total for the week and correspond
ing large decrease in our visible
May wheat opened at 79c. against 793s-15
yesterdays close, sold at 1854 firmed up
TO 7S7sc, declined to 7S1sc, gained Ac lost
&c advanced to 7SSs-zc, sold down to 7S2sc.
hrmed up to 7S1assc again sold at 7S3s-5bc
ADVANCED to 7SAc lost &c, hrmed up to 79c
and lost ;sc by noon.
The demand for cash wheat was very good
but at prices not quite satisfactory to holders
Buyers were inclined to force the price
down to 1lac under May price, whereas for
some Gays past the difference has been only
q to lie. Holders, however, were firm and as
iaI as could be learned very little of any
Actually sold at the difference asked Sales
Wefc made as per statement below Receipts
EeIe we're 306 cars; shipments, A cars
Bl+dstrccts report showing q decrease OF
4.9t7 COO bushels in the worlds visible sun
ply caused the market to rally little short
ly after II O'Clock. Liverpool reported jan
uary sSheat a little stronger; balance nm
Hhangea. Australian government asking Cal