The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-23

apoiiS. 75c In chicago, Ac in Duluth, 9sc In
st. Louis and 1ac in New York.
The opening Monday morning showed a
slight disposition toward strength. based upon
stronger cables and report of abnormally
low shipments from Russian ports during the
previous week. The figures given were only
100000 blu. The worlds shipments were also
reported to be unusually light. The home
receipts for the previous week were however
comparatively heavy. But Tuesdays cables
brought correction of the figures previously
sent concerning the Russian exports, which
We're shown to be 1,024, 900 bu. The error was
probably due to the original report being
made in quarters instead Of bushels. This
sudden swelling of the volume had a de-
pressing effect upon the traders, and there
was consequent sagging in prices. The
enect was still visible in the transactions of
wednesday. but the bulls who had been de-
ceived into buying ON the first report were in
disposed to unload after the correction was
made. and the bears were consequently indis-
posed to sell in the face of the confidence
manifested by other elements. This state
ment illustrates the frmness in the situation
OF wheat at existing quotations and demon
strates the normal tone which now domi-
mates the market. There is a total absence
OF sky-rocketing methods, and fluctuations
are lett to depend wholly upon receipts and
ciearances with due Difference of course to
be allowed to the influence of rumors
whether these be true or false
Thursday the market was irregular with a
buliish tendency, although the Liverpool ca
Dies were not inspiring, rejecting as they
old quiescent state of things abroad and no
eagerness to buy. AS prices declined, how
ever, the bulls entered the market and pro-
ouced steadying effect, and this incident led
shorts to cover. The receipts at terminal
ad tO he
altogether the result of the days operations
was to create strength. The opening Friday
was higher, on improved cables The news
contained also an official revision of the Rus
sian YIELD which added several millions to
the surplus for export. The immediate result
was selling of long stocks and a. rush nv
the bears to find seat on the toboggan. But
there was really not much in it. The main
erect was to create uncertainty and conse-
quent dul1ness. and this was reflected in the
limited operations Of Saturday. Receipts at
minneapolis and Duluth were comparatively
heavy. The usual reports at this season of
the year concerning Argentina have been so
largely discounted that they are no longer a
Dugaboo. The sum and substance of the news
from there may be put into a nutshell and
laoeied an Indifferent quantity" So far as
the demands upon the United States for
wheat by European buyers are concerned
Inc Argentina crop is not likely to cut much
OF figure one way or the other. The con-
dltions which have prevailed during both the
growing and reaping seasons have been COM
pick, which is sufficient assurance that moth
ing overwhelming may be looked for from
That source. The market closed fairly steady
and while the indications are opposed to any
measurable advance. and are, in fact, in favor
OF weakness for some days to come there is
nothing in the situation presaging more than
fractional declines
The Northwestern Miller in its last issue
says:
wheat deliveries by farmers at interior
points are light, as not only are prices not
satisfactory to them, but the roads are yery
poor for hauling. 49,
Much less blowing was done last fall in
the Northwest than is ordinarily the case.
This was due to the rainy weather. With a
backward spring, it will have vital bearing
upon the next wheat crop.
COMPARATIVE WHEAT RECEIPTS.
receipts OF wheat at winter and spring
gram markets for twenty-nine weeks, July /
TO Jan. Is, with comparisons in bushels. com
In6