The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-21

New York OBSERVATION-DISCLOSURES 74A
These figures show a decrease of &c at
Minneapolis; an increase at Chicago of 1c. a
decrease at Duluth Of 9sc. an increase at st.
Louis OF NC and decline in New York of
nc.
The market has presented no particularly
new features throughout the week The de-
HVeries have been considerable, a condition
which has been largely due to the fact that
good weather has prevailed throughout the
entire Northwest. thus enabling the farmers
to haul their wheat to the market. The
heavy receipts which were predicted in this
column a week ago were realized on last Mon
day when the reports came to be made up.
Early in the week the cables from Liverpool
did not encourage a strong support to the
market. but as the days went on the demands
from that center created a stronger feeling
There Is undoubtedly a large short interest
In the December option. This will have its
part to play as the season advances. When
the crop year came In a good many specu-
lators believed that the immense figures
representing the wheat product of this coun-
Try afforded an excellent basis for bearlsh ac-
count. The light export demand which has
prevailed during the past month or six
weeks added encouragement to this theory and
cables from Liverpool have indicated no con-
siderable shortage there accompanied by a
disposition to Overstock. OF course il Is
Gatural that the Liverpool merchant should
gauge his operations after an outlook on the
general situation He recognized the fact
which has been so literally advertised that
this country is possessed of a very large sur
plus Of wheat. He has thus far shown no
disposition to draw upon our markets because
ne seems to know that cut of our crops
whether In the winter or spring wheat belts
there is large surplus forthcoming ard that
the prices will be entirely within his reach
for considerable period to come. The ex-
porLations during the past week have not
been Overwhelmingly large yet there Is a
good-sized, wholesome deficiency both in Liv-
erpool and Hamburg. How far the Russian
crop Is to supply the vacuum is not as vet
known. 1t is unquestionably true however
mat the Indian crop will likely be absorbed
by contract very early In the shipping season.
Russia. according to the latest reports. affords
very little OF promise. as compared with last
week, In the way Of supplying wheat to the
exclusion Of that which shall come into the
European market from our own crop.
There is little nothing to be drawn from
the weekly reports OF foreign operators.
The main fluctuations during the past week
have been chiefly due to the operations of
those who were identified with the short in
terest. 1t Isl isimply the old story that every
thing Is in chaos far as the two parties
are concerned in the market. The long can
not stand up against the Big receipts. and the
bear is a nervous quantity whenever an ex-
tracrdnary demand is made for export
The Northwestern Miller in it's issue of
Nov. IS says
Cash wheat has been in very good demand
all the week, in spite OF large receipts and
at the close low grades were commanding
relatively better prices. The weather and
roads III the country are favorable for deliv-
cries, and the farmers are marketing wheat
az pretty lively rate. The elevation com
panies in turn are doing their utmost to get
IL 70 the terminal markets. but are handicap
ped a good deal by the lack of cars and are
accumulating stocks to a considerable extent.
In North Dakota, where rains and snow were
supposed TO have done heavy damage, the
gram has been threshed ard Is now out of
harms way Though this grain was, per-
maps. lowered grade in quality, the num-
Der OF bushels is not decreased, and the
greater part OF It Is ready good milling grain
here.
Coarse grain handlers say that cash stuff is
so high in price compared with futures that
there is little chance to do business by ac-
eumulating stocks. as in former years.
good deal of wheat is reported TO have
been worked for export from Duluth last
week, ard that a large part of that in store
In country houses tributary to Duluth has
been soldfor export, shipment to be made by
lake. some elevator men estimate the guam
ttty so engaged at 5,0000 O0 bu.
1t is notable that OF the various public ele-
v9tors. all those showing any change as to
wheat for the past week made ierease The
aggregate increase in the public stocks was
$4,000 bu. year ago the stock was nearly
9.O000o bu, in 1896, 1888 COO, and in 1895
II. Gao. coo blu.
Local commission grain men who have In
the past derived considerable business by
shipping wheat from here TO mills in W scon-
sin and Illinois complai that the railroads
are this year making III Grim naling rates sc
the Srain, instead OF coming to Minneapolis
goes around TO the south Of US.
COMPARATIVE WHEAT RECEIPTS.
Receipts Of wheat at winter and spripa
grain markets for twenty weeks. July l "a