The Saint Paul globe., 1904-12-17
NEWS BEAR|SH
HAS NO EFFECT
Good Demand for Cash Wheat
at All Points With Increas-
ing Premiums

Minneapolis Chamber of Commerce, Dec;
16-Liverpool markets were weak and
lower on larger Argentine shipments than
expected. This had a depressing effect
on the "curb" market and caused the
regular opening to show &c loss from the
closing of the day previous. The open
ing, however. was practically the low
point for the day. There was good de-
mand right from the start some of the
large operators picking up the offerings.
Shorts soon noticed that all offerings
were readily absorbed and became fright
ened Rushing to cover they found the
market practically bare of wheat until
prices had reached call price.
At call price offerings became a little
more free, holders of these privileges sell
ing against them and the early buyers
also went after their profits. The sell
ing from this source was enough to break
the price little over 12c, the market
on Thursday. Trade was not particularly
active, and, while the pit element was
the most active quantity in making bust
ness, it was noticed that some Of the
strong operators were quietly picking up
wheat on the soft spots.
The cash wheat situation continues
strong, not only here, but at st. Louis
and Kansas City. At st. Louis the mar
ket was very strong, a lot of 10000 bu
: of No. red selling at 275c over May
price. This is about equal TO &c over
millers of the South and Southeast are
rapidly depicting the stocks of wheat at
both of the latter points, while shipments
are almost nothing not enough to keep
their local mills running. 1t wont be
long before the same condition will exist
in the Northwest.
May wheat opened easy and Ac lower
at 81. u, sold at 81 11B@1 II, worked up
to $1.125s, reacted to Slips and closed
at sh13%. July opened at 81. 11as, which
was the low point sold UP to 81. .12%, re-
acted to 81 .11H and closed at 81. 12H.
Minneapolis stocks show an increase for
the week of 1,080.000 bu. Receipts here
were 451 cars against S16 a year ago. Duo
luth had 118 against 90, Chicago II
against GA, Kansas City 81 and st. Louis
81, 600 bu.
Argentine shipments of wheat for the
week were $4,000 bu, last week 208 600
bu, last year 1000 bu. Corn 1881, 900
bu, last week 1928, 600, last year 1,440,0 900
bu. Clearances of wheat and flour from
four ports for the day were $4,000 bu.
Primary receipts 729, ,000 bu, against 641,-
600 bu year ago. Shipments $4,000 bu
against 323, 900 bu.
Liverpool wheat closed SD lower Lon
don Id higher. Paris wheat unchanged to
10 centimes lower. Flour 5@10 centimes
lower, Antwerp and Berlin unchanged,
Budapest 72c higher.
European stocks are same as year ago.
Stocks of wheat and flour at leading cen
terss in United Kingdom, France, Russia,
Belgium, Holland and Germany are the
same as year ago. They are 63, ,000, 900 bu
against 60, ,000. 900 year ago. United King
dom has 5, 600 more, but Russia 7,000,
600 less. They decreased 100000 last
month Amount af1oat for Europe was
SO, ,000,0 600 against %, 900, 900 year ago. but
larger proportion is from countries re-
quiring long voyage, such as India and
Australia.
Modern Miller says: "Most of the cen
tral portion of the winter wheat belt, as
well as the territory west of the, Mis-
souri, river. is covered with snow, and
rain has given relief in the more south
erly sections, including the wheat coun-
try in the Southeast and Southwest.
Chicago-Liverpool cables: Wheat
demand moderate, prices steady. Futures
are neglected and declining because of
weather reports from Argentine. Bet
ter advices from America have no in
fluence. Corn is declining in sympathy
with Argentine shipments which are in
excess of the estimate. Rather less de-
mand."
Chicago Cash Business-Outside millers
took a moderate amount of wheat in the
10000 bu in mixed lots. mostly winter
wheat. The sample market was dull,
with offerings small, and some sales of
low grades at concessions but prices of
choice wheat up with the futures. Balti-
more reported Ohio millers buying red
St Louis was 1c higher No red
quoted at $1.11A in store. At Kansas
City No. 2 hard sold at 81. .0215@1 0S7A.
Shipping business in corn was smaller,
mainly because there were fewer offers.
Sales Of 1S5, 900 bu No 8 and d, 25.ooO bu
No. 8 yellow were reported. There were
sales of $4,000 bu white clipped oats.
Weather Map--Extreme north and
northwest, partly cloudy and generally
lower temperatures, 4 to Is above. North
west, generally cloudy, IA to rs above.
General SHOWS and showing at Winston
Bismarck, Moorhead and Huron. West
and southwest generally cloudy, rising
temperatures, IA to 40 above; general
SHOWS in Nebraska, Indiana, Iowa, local
Kansas. Ohio valley, partly cloudy, 4 to
80 above.
Forecast-nlinois-R or snow to-
night; cloudy Saturday. Indiana-Rain
or snow tonight and Saturday. Missouri
Rain or snow tonight; fair Saturday.
Lower and Upper Michgan-Snow to-
night and Saturday. wisconsin Mime
sofa and Iowa-Snow tonight; fair Sat-
urday. North and South Dakota, Kansas,
Montana NebraSka-Fair and colder to-
night and Saturday.
Range in Minneapolis Prices