The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-16
MIMI EAPOLIS GRAIN.

MINNEAPOLIS, April 15.-Wheat opened
higher this morning on strong Liverpool ca
bles and hrmer continental markets, ana
partially on the large cash and export busi-
ness done yesterday. The market ruled very
active during the first hour, ana scored an
advance of 1Ac for May, eased of little
about IL a. M, and ruled very quiet from
that time up to noon. The news OF the day
was generally in favor Of higher prices, but
the fact that tomorrow is holiday in the
markets of this country, and that there Will
tinent from today till Tuesday. caused the
character Of the trading more OF an eVen-up
sort than anything else The position OF
wheat is acknowledged on all hands TO De
very strong but it is likely that trading for
the next two or three trading days Will be
very light unless something extraordinary
happens in Eastern politics or larger domestic
demand for wheat and flour.
From advices received yesterday from the
seaboard it would appear that wheat mas
reached an export basis, and that sales on
large scale was the result; moreover, that
sales have been made for forward delivery as
far ahead as December next England and
Europe's only source Of supply will be con-
fined to Russia and America during this
year. and judging from crop conditions at
present, every bushel of it will be needed.
When the trade was shouting that May Hqul-
dadon was the cause of the decline in prices
the opinion was ventured that when the May
future was actually being Hquldated 1t would
be hquidated up, and not down. 1t is doing
so now in a mild and easy way, and when
there will be some excitement in this market,
greater than at any period of decline on this
crop. A late dispatch said that the advance
had checked the cash demand. 1t is, how
ever, more likely that the holiday above re-
ferred to is the chief cause. A feature in the
market which almost escaped attention was
the activity OF the Germans in buying of both
wheat and rye. Yesterday the large day
in rye exporters taking 260, 600 blu for prompt
shipment. Crop reports were generally gloomy
as to the coming crop. The Illinois crop re-
port says that two-thrds Of the winter wheat
sown viii be plowed up, and that the other
third only shows 33 1-3 in condition. Mis-
souri, is said to be also going backward.
May wheat opened at $3.50, against 675sc
yesterday, advanced 1sc, lost 1sc, frmed up to
6S%c, sold at 6812@683sc. advanced to $3.50,
dropped to 68%c, gained 1sc, fuctuated be-
tween 6S24c and 6SBc for nearly an hour,
and by noon held at 6S24c.
July wheat opened at 6S1ac, against 677sc
yesterday, gained &c, lost 1sc advanced
sharply to 6912G69%c, declined to 687sc, firmed
up to So Lice, lost &c by 11:30, and by noon
held at CSC.
The demand for cash wheat was very good
for all grades. No / northern sold promptly
at 112c over the May price Sales to arrive
were made at 1Ac over. Frosted wheat was
slow, but all offerings were we'll taken be
fore noon. Sales were made as per statement
below. Receipts were 127 cars; shipments,
40 cars. The wheat market held strong but
not active during the greater part of the
noon hour. April wheat closed at 703sc, May
at $3.50 and July at 694c.