The Saint Paul globe., 1904-12-18
LOWER CABLES
NOT 4 BULL CARD
Larger Argentine Shipments
Than Expected, With Liberal
Receipts Here

Minneapolis Chamber of Commerce. Dec.
1.-THE market today opened weak and
lower at practically the high point for the
day Shorts covered so freely yesterday
on the bulge that they were able to take
the short side again today. The news
favored the bears from the start. Liver
pool was weak and lower, Argentine ship
ments about twice the amount expected,
receipts here again large and worlds ship
ments expected to run heavy.
Longs started to sell out the wheat they
bought yesterday on the curb and the
bears were out in force to put the price
as low as possible. There was little or no
demand and prices receded rapidly. The
opening quotations We're q C lower and the
decline continued until values were off
15sc from the previous close on the May
option. A good demand developed on the
break and prices ran up nearly as fast as
they declined. shorts being the best buy
ers. Trade was not heavy, nearly all of
scalp1ng holiday character. The outside
speculative demand continues to be OF
very small proportions. Cash market con-
tinued strong, with good buying of the
lower grades by millers with prices ruling
hrmer than the options.
May wheat opened at $112&s, sold down
to $1.1112. rallied to $112$s and closed at
Sl.l214. July opened at $L1112. broke TO
$l.lGs4. rallied to opening prices and closed
al $111$s @I111a
Minneapolis Stocks increased 10000 bu
for one day. Receipts here 522 cars,
against 73. Chicago 26 against 81, Kansas
City 49 and St. Louis $1,000 bu.
Worlds shipments fol-. Monday esti-
mated at $500, 600 bu Australian ship
ments for the week, 2S8, 600 bu; last week,
4S0 900 bu, and last year 1860 bu. Clear
aEces of wheat and flour, 153 900 bu
Primary receipts. 7S9, 900 bu. against 679.-
ESQ bu a year ago: shipments, 269, 600 bu,
against 254 600 bu last year
Liverpool wheat closed 1s@2sd lower
London and Antwerp unchanged: Berlin
1sC lower. Budapest & c lower. Paris wheat
Centimes lower TO . centimeS higher;
flour 10 lower to 10 higher.
ll-Wheat-Opening quotations
were unchanged but later eased off I'D
in March and 81 III May, owing to in
c. easing cheaper offers of Argentine par
GELS. but cargOeS are Sparingly offered
Toward the close the market Steadied
sd in the nearby deliveries. owing to sup
port by large houses. Corn-Opening
unchanged in the distant months. Small
er American receipts offset by talk of
large American shipments. At the close
prices We're unchanged from the opening.
Our Australian agent estimates the eX
portable surplus of that country at "a
GOO 600 bu.
Weather Map-EXtreme north and
northwest, generally cloudy. to sc above.
Northwest. generally cloudy and cooler
6 to II above: general light SHOWS in
Minnesota. West and southwest. gener-
ally cloudy. 10 to 80 above; general SHOWS
in Iowa, Missouri and Illinois. Ohio val
ley cloudy, % to SS above; general rains
or SHOWS.
Forecast-Illinois. Iowa-CIoudy to-
night and Sunday. Indiana-Snow fur
TieS tonight and fair Sunday. Missouri
North and South Dakota, Nebrasl1 Kan
sas. Montana-Fair tonight and Sunday
Lower and Upper Michigan. Wisconsin.
MinnesOta-SnOw fiuTTies tonight and
Sunday.
Rance In MINNEAPOLIS Prices