The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-27

ing accounts both sides were generally
closed out, leaving conditions to settle mean
while. On Thursday higher cables were re-
ceived, and ii was socn made apparent that a
good export de nand existed at the seaboard.
The opening for the May option was 1h@Hc
higher than the closing Tuesday. Liberal re-
ceipts were reported from Duluth and Min
neapolis though the arrivals at Chicago were
somewhat shy There was some more talk
OF damage to crops, but this quite properly
had little effect Liverpool closed strong, and
this fact disheartened the bears, who tried
to make something out Of the news of the
heavy snowfall In the winter wheat area 1t
may be said, in passing, that so far as win
ter wheat is concerned, 1t will suffer nothing
from ell the snow that is likely to fall
from this time onward. What 1t is more IN
danger of is rain and sleet. followed by
freezing weather and this is a condition
which will be more apt to prevail during the
month of March.
Friday opened with more favorable news
as to the childish talk about damage from
snow, but no animation was afforded by the
cables which were decidedly spiritless. There
bull argument discovered in the ship
ments for the week from Argentina which
were shown to have been 100000 bu, as
against l, i0S, COO, or liz GOO bu less than the
same week last year. There was also an i'm
provement in purchases for export account,
both in New York ard Chicago, for delivery
in March. and this fact had sustaining effect
on the May option.
Saturday brought nothing by cable indica-
tive of strength of an abiding character
abroad. The worlds shipments for the week
we're reported to- be larger than expected, the
estimate being 5000, eco bu, nearly one-half of
which representing the United States and
Canada. The bears began a little sale for
scaiping purposes, and prices quickly yielded
in the absence CT buying support. The closing
was unsteady, but with marked signs CT
serious weakness.
The conditions with respect to the world s
wheat market continue normal. The ele-
ment of uncertainty which has been so con-
spicuous for several months has not been re-
newed. nor is it likely to be. The marketing
OF the ye.d OF wheat has been well conducted
with a view to preventing any heavy de-
cline. Prices would no doubt be higher how
ever, had there been less liberal selling dur
ing the past two months. The fact has been
thoroughly advertised to the world that the
farmers of the United States harvested last
year an immense crop. The official figures
have not been disputed. OF course, foreign
dealers have kept close watch upon the ex-
port and consumption record. 1t is Known
that a large reserve exists here, upon which
these circumstances, taken together with the
easy flow of wheat to market, 1t is, in the
nature of things, a source of surprise that
prices remain go nearly stationary?
The following is the comment by the
Northwestern Miller. in its issue of the 22d
on the declines of wheat:
The comparatively large receipts here have
occasioned surprise. They are reported to be
due to arrivals of wheat which was kept back
by the cold weather. Considerable was
bought before the cold snap to arrive and this
net having been received is now helping swell
current receipts. The elevator companies
are also disposed to reduce stocks in the
country by shipping to terminals. as there
is no inducement to hold grain in country ole
vators. Farmers are represented to nave
been delivering rather more wheat of late,
though poor roads initiate against large de-
liveries as well as does the price.
COMPARATIVE WHEAT RECEIPTS.
Receipts of wheat at winter and spring
grain markets for thirty-f -four weeks, July /
to Feb. 20, with comparisons in bushels, COM
y;Ia by no prio