The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-16


Minneapolis. 11sc in Chicago. 11sc in Duluth.
29sc in st. Louis and Nc in New York.
Mondays markets opened generally strong
on some indistinct and not well authenticated
reports OF damage to growing crops. But
large Northwestern receipts were recorded,
as compared with last year. but these fell
somewhat short Of expectations, and when
viewed in connection with an evident export
demand the condition did not afford much
solace to the bears Tuesday opened dull,
but with a strong bullish undertone, in the
presence Of a fair export demand from the
seaboard. On Wednesday, however, the Liv-
erpool cables began to play upon the posi-
bilities of enlarged exports from Argentina
and increased shipments from Russian ports,
but the home movement OF wheat stood in the
nature of an offset and, with the shorts in
uneasy frame of mind and disposed to run
to cover, fair degree of strength was main
tanned. The opening on Thursday was strong.
caused by the heavy clearances OF the day
before. The buying spirit appeared to be
stimulated, but in the absence of good re-
spending orders from abroad. The receipts OF
wheat at terminal points, however, while lib
eral, did not stand UP well with those of the
year before in comparison, and notwlthstand-
ing some slight declines abroad on account Of
renewed talk regarding Argentine prices
closed firm. Friday brought reports of ad
vances in Liverpool due to increased orders
in that market from the continent, and which
supplies from America were expected to fill.
There was DISAPPOINTMENT, too, in the volume
of receipts especially at Chicago, which,
though considerably than on the same day
last year, were still below those of the same
day the week before, and in marked de-
gree. And against these conditions the re-
currence of favorable export promises from
Argentine did not avail, and the market
stood up sharply for Saturdays opening and
the trading that day closed at material adj
vance on the week. The buying for export
was exceptionally active. The fact devel-
oped. too, early in the day that a large, short
interest existed and this, as prices showed a
disposition to advance. led to a desire to
cover The figures for the week showed a
good increase, and in fact a large volume
of world clearances. but especially from
American ports. On the whole the weeks
record was gratifying and indicated strength
at Least for the opening this morning, al
though there is nothing in the situation sug
gestive of grounds for any material advance.
The Northwestern Miller, in its issue Of
Jan. II, says:
Wheat receipts at country points in the
Northwest are very light partly due to bad
roads but more to the disposition OF farmers
to hold their wheat for higher prices. In the
past ten days, however, farmers in some lo-
cellitles nave sUlu CUllSlueTdUfe VI Inc Wucdl
they had stored in country elevators.
AS to the Northwestern wheat stocks, we'll
informed authorities figure the situation thus:
On Jan. l. it estimated that $4,000 600 bu
were in interior elevators and in farmers
hands OF this, 1000 will be needed for seed
Country mills will grind 1000 600 and farmer
will carry over perhaps 10000, 0O0-a total of
90. 900, coo blu. There would be a surplus left
to come from the country of 80, 100000 bu. Add
to this 100000 bu as the stocks Of Minneap-
oils and Duluth, and It makes ,OO0 blu.
Minneapolis and Duluth mills, between Jan.
and Sept. /. will probably grind 50 100000 blu,
leaving a total stock at terminals of only
4,OG0, COO OF course, while these figures are
based upon the best possible information OBJ
taipabe, they embrace a large element OF
interest as showing the trend of sentiment In
this market.