The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-12-02

MINNEAPOLIS, CHAMBER OF CON-
MERGE, Nov. 30.--On Saturday evening the
greater portion of local wheat traders
felt inclined to favor reaction to a lower
level of prices. This morning first cables
caused a sudden change of opinion and at
the opening it was which should pay 13sc
over Saturdays close figure. Trading
quite active for the first half hour, ruled
rather quiet for hour, again became
active on receipts of the visible supply
statement showing another decrease over
100000 bushels for the week. From II 10 up
to noon market was steady and trading
light The news of the day was mostly
buliSh in tone. First Liverpool cables
advised of I'D advance and second cables
quoted further advance of u to s4d. Paris
markets were all active and higher with
Berlin steady at a trfling advance. The
worlds shipments were S,720,oO0 bushels
against 100000 bushels last week. Rus
sian shipments were well up to the average
of weeks past. These shipments from Rus
STA will in the nature of things soon
cease for the season. The close of naviga-
ton is at hand. The following extract
from Beerbohm'S latest letter will be of in
terest. shipments to Europe have been
enormous. In Is weeks, ending Nov. IA they
have totaled To- 167, 900 quarters against 49,
100000 quarters same period a year ago.
The extraordinary power of importing
countries to absorb wheat this season is
here shown. With shipments of over
100000 quarters in excess of last year
stocks in the United Kingdom ports actual
~ 25OOO0 quarters less than Aug. and only
increased slightly on the continent" New
York advised of fair export demand.
Clearances were fairly liberal for the day.
Advices from the Argentine re-assert the
OUTLOOK for the crop is very poor indeed be-
cause of the ravages of locusts. Prime
says: Winter wheat-The entire crop is
still bare of snow in the Southern area Of
the winter wheat belt, still growing There
Is ample moisture, very little frost in the
ground and crop in fairly good condition.
Think 1t will go into winter quarters bet
ter than at this date in 1885, Spring wheat
There has been a decided falling off of
spring wheat receipts in the present week
and this state of things must continue
from now until another crop is made.
Spring wheat farmers, however, are bullsh
and seem more inclined than they did 80
days ago to hold their reserves for bet
ter prices.
December wheat opened at S1&c against
SOasc Saturday. gained &c, sold down to
81Ac. advanced to S1A@S17sc, declined to
S1Ac, firmed up to S15sc by AS, and by
noon held at S1Ac.
May wheat opened at $3.50 against $3.50
Saturday, firmed up to SAC, declined to
S3Ac, advanced to $3.50, sold down to. S3Zc,
gained Ac, declined to $3.50, firmed up to
S311c by 11:45 and by noon held at S3c.
The demand for cash wheat was good
Receipts were very light. The sales made
were mostly to arrive later on. No. l
northern sold at S21aQS3c and No at
S11sQS2c. Sales were made as per statement
below. Receipts here were $50 cars, and
q cars shipped out.
The wheat market was decidedly weak
during the first part of the noon hour in
sympathy with Chicago. Closing cables
were mixed. Liverpool was Nd lower, Lon
don Sd higher, Paris Is centimes higher
and Berlin u mark lower. About 20 min
utes before the close active buying caused
the market to advance to the top prices of
the day. November closed at SIC, Deem
Der at SIC and May at S3kc.
Observation-Disclosures OF PRICES
The following the range Of prices today:
Open High Low Closing.
Wheat ing. est. Today. Sat