The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-14
MINNEAPOLIS.

neapolis-Hesitation was the distinc-
tive feature in wheat, the market holding
traders waited for some new influence to
come in. The foreign news brought
nothing important except that from Ar
gentlna, which made the general outlook
there more favorable, the weather having
made a turn for the better. The North
west showed up receipts of 327 cars,
against 422 last year, Minneapolis getting
al, against 3S7 and Duluth &C. against
35. y. Local elevator stocks are not in
creasing at the heavy rate Of the past
several weeks and the first part of this
week shows the comparatively moderate
gain of 125, 900 bu. A Chicago grain ex-
porter who has been making private in
VeStlgatiOn since the harvest began in
Argentina, with a view to determining
to what extent that country will cut into
the export trade, announced that there
will be Is, 600 600 to 80 900 600 bu of good
average quality. Later in the session a
Chicago house had a cable from Argen-
tina announcing that it was raining again
over considerable area. With this came
London cable limiting at dry weather
and need Of rain in India.
All this had little effect upon specuIa-
tive sentiment. The markets everywhere
dragged, and although there was bull
news in Liverpool before that market
closed, the closing figure was up only
sd. This bull news was in the London
Times, which printed an article made up
of reports received by mail covering in
Testigations into the condition Of the win
ter wheat crop in the territory tributary
q
dltlons are reported very bad. the plant
being inferior in growth and generally
damaged. There are a few districts where
the outlook is so poor that the government
officials are already taking steps to pro-
vide for storage Of stocks of grain to an
ticipate the stringency that will come later
If general crop conditions do not improve
materially. While it is only a small por-
ton Of the South Russian area that makes
such bad reports. it Is said the conditions
IN these particular localities are the worst
in ten years.
Chicago reported sale of Zoe, 900 bu corn
for February shipment from New Orleans,
and in wheat New York had Is loads
Near the close the market was strong,
selling to 751s @755sc May, and closing
firm at the high point. July closed at 76hc
and January wheat at 747sc. Good demand
ruled in the cash market. Receipts were
not very heavy, and there was demand
for everything. Millers bought the selec-
tions and elevator buyers were In evil
dence; No; 1 northern ranged from 75c
to 75%c, the average going at the lower
prices OF the early and easier time of the
option; No. 2 northern sold at 74@74Ac
was q fair demand for this grade to ar
rive. No 8 wheat sold at 720721hc for
the bulk There was a moderate demand
for the poorer lots in the low grades.
The following was the range of prices:
Closing.
Wheat Open. High. Low. Tues. Mon. Ago.
May $50. ~ 75X 75I 7755ss 7 75 II
July ........ 755s 76js 75S 76R 75K 77Z
On Track-Jan. 10: No. hard, 763sc;
No. 1 northern, 1880; No. northern,
73Bc; oats, 33@34c; No. white oats.
barley, 85@sOe; flax, s1.so; fax O futures
January, $1.19h; May, $1.221 July,
81, 231s; faxseed, to arrive, S1.20.W
Flour-The market holds steady and
firm, with a good demand for the season
and continued firm inquiry Sales in the
aggregate are about up to capacity, and
there Is the promise Of steady demand
Is firm. Shipments for the day. 81 ,004
bbh. First patents. $3.s5Q4o5; second