The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-20

chicago ..........................72 1s 1874
S 81 Iau,s IL 7S&
New York ...................... 1878 TIL
These figures show a decline of 1870 in
Minneapolis, nc Chicago. 11sc Duluth, 1Ac
st. Louis and 9sc New York
Following the holiday Monday the market
opened Tuesday with a reasonable degree of
strength and with gradual departure of the
extremely severe weather of the week before.
The receipts for the previous week were not
abnormally large, and the Liverpool cables
were somewhat stronger than at the close
Of business Saturday. Feb. II. There was
| also good buying at export points of wheat
for March delivery. The worlds shipments,
however, were larger than expected, and the
fact was revealed that unlocked for exports
had been made from Russia. An increase
in the European visible supply was reported,
indicating that some Of the recent buying
was with view to the replenishment of for
elgn stocks. The fact began to appear, also.
that no, serious damage had occurred in the
winter wheat belt as the result Of the Sc
we're weather of the previous week.
Wednesdays cables, however, reflected an
easier tone in the European markets, and
! the May option opened weak with sellers
more numerous than buyers An increase
in receipts was also reported, and New York
| reported the export demand as practically at
standstill. st. Louis was decidedly bear
1sh and showed disposition to sell at every
fractional advance. Receipts at Minneapolis
| and Duluth showed large increases in COM
parison with those for the same week last
year. There was good buying for March de-
livery, and this really supplied the ground
for the hope of spectators in the May op-
ton.
The beariSh feeling continued to Thursday,
and the return of milder weather. showing
abundant SHOWS throughout the winter wheat
belt and no reports CT damage, had the effect
of depressing all the efforts of the bulls
to advance prices. This element finally lost
heart and began sales for realization and
general liquidation. This movement was en-
couraged by the bears, who sold with free
dom which may perhaps later reflect impru-
dence. Receipts were liberal at Minneapolis
and Duluth. however, and the reports from
the seaboard revealed little in the way of
demand fer expert Primary receipts showed
considerable advance in comparison with
the volume for the same period last year.
On Friday there was some inspiration af-
forded the bull element in the news of the
death of the president of France. the as
sumption being that markets would advance
over the apprehension Of political troubles
resulting therefrom. But the later news was
of a character to dissipate all fears of i'm
mediate disturbance and prices gradually
ing was met by determined selling move
ment. and this was assisted by the figures
showing increase Of the visible supply.
The bears. however, manifested no special
spirit of aggressiveness.
The bear interests, that had been gather
ing force throughout the week, especially in
the March option, had, it ascertained,
somewhat oveIsold the market, and upon
this condition being made manifest strength
the Northwest were reported to be large and
there were signs apparent that some of the
elevators had been quietly laying in stocks
The worlds shipments for the week, as irdi-
Gated by late cables showed some improve
ment over tho sc of the week before. 50 far
as increase in volume was concerned but
not sufficient to create much permanent i'm
preston either way.
The closing Saturday only moderately
firm. Argentine, Indian and Australian
shipments must necessarily play their part
for some weeks to come, and there appears
nothing the surface to indicate any i'm
mediate advance meanwhile worthy Of much
consideration. If wheat cortinues to be
marketed Us freely hereafter as during the
week just past. lower quotations are inevi-
table. 1t is apparent that European buyers
are holding off from the American markets
temporarily, ard IT, as stated re-
Punishment of stocks abroad has been 60
ing On. it would not be unreasonable to
expect a slightly lower range for May and
July.
The following is the summary by the
Northwestern Miller in it's issue of last Thurs
day:
The cold weather appears to have prevent
ed wheat deliveries in the country and the
movement has been very light. Locally the
sentiment Is pronounced on the side of high
er prices, it being felt that the natural po-
sition of wheat is stro lg one. One serious
obstacle in the way of advance is the out
spokenly bearish position Of Chicago
1t is thought that much OF the wheat now
held in country elevators in the Northwest
will be shipped to terminal arkets by April
l. That date is assessment time in North
Dakota. and fear of the assessor will cause
the grain to be shipped elsewhere.
| The stock OF cats in Minneapolis is over
| 100000 blu short of year ago.
| COMPARATIVE WHEAT RECEIPTS
| Receipts of wheat at winter and spring
grain markets for SO weeks, July 1 to Feb.
Is, with comparisons, in bushels, compiled
| by the Cincinnati Price Current:
1SSS-99 1S97-9S. 1867.
| st. Louis ...... T. 1861 600 600 9,945, 900
| Toledo . ....... 10, 729 eco 9,O97 900 6653 600
| Detroit =. ...... 3,87S000 1881 coo 2531, 900
Kansas City -. 1885, 900 24,36S000 6,412, coo
| Cincinnati $685. 900 571,000 III 900
Winter wheat. 81, 376 GOO As. COO 2S, 312. O0O