The Saint Paul globe., 1904-12-29
MARKET BREAKS &c
ON LIQUIDATION
Lower Liverpool Market. With
Better Weather in
Argentina

Minneapolis Chamber of Commerce, Dec.
2S.-Wire service is still badly interrupted
and is playing havoc with the outside
speculator Receipts here this morning
were very light, but this was more than
offset by the weak Liverpool markets in
the face of the advance in American mar
kets the past day or two. The weakness
on the other side of the pond is said to
be due to continued heavy Russian ship
ments and reports of better weather in Ar
gentina where they expect to increase
their shipments in about four weeks.
The crowd. went home long last night
expecting to find a higher Liverpool mar
ket and chance to unload at higher
prices. To say that they were disappoint-
ed goes without saying The late buyers
tried to unload on the ecurb'' and forced
prices down to 81 16, where the market
opened for the May option. few scalp
ing shorts covered on the weak opening,
advancing prices fractlonally. AS soon
this demand was supplied, prices began to
sag and then the bears jumped in and
hammered the market, catching a lot OF
stop loss orders on the way down and
adding to the general weakness. There
was not enough wheat wanted to check
the decline until prices had declined near
ly 2 cents from the high point.
On the break shorts covered quite free
ly, advancing prices over a cent, this be-
ing followed by another decline to near
the former low point, with a slight rally
just before the close, which was weak and
rs a &c below the previous closing figures.
Trading was fairly good all day, but in
the hands of the professional element,
which did practically the bulk of the busi-
ness.
May wheat opened at s116, sold at
$1.16A, broke to 81. 145a, rallied to ST. 1855
and closed at 81. .151s al. .15A. July open
ed at 81. 1474, sold at 81 .141k, reacted to
1.13A and closed at 81. 1875.
Minneapolis stocks Increased SS0,00O bu
for four days. Receipts were 194 cars, in
Guiding IA Canadian, against S66 year
ago: Duluth had 2S7 for three days,
against 134 one day year ago. Chicago
had 81, against 65; Kansas City q, 600 bu
and st. Louis $4,000 bu.
Clearances of wheat and flour, 81, 600 bu.
Primary receipts, $40, 600 bu, against
1.O96.0O0 bu a year ago; shipments 269,-
600 bu, against 362, 600 bu. The visible sup
ply of wheat is 39,71S,000 bu, an increase
of 1,133,000 bu. Corn, 7,20S.000 bu. in
decrease of SIT 900 blu. Liverpool stocks
of wheat 5,144, 900 bu, decreased 5000 bu.
Corn 394 900 bu, decreased $4,000 bu.
Liverpool wheat closed q d lower, Lon
don and Antwerp unchanged Paris wheat
unchanged to centimes higher, flour 100
15 centimes higher. No report from Ber-
lin or Budapest.
Final estima tes of the crops will be is
sued by the agricultural department this
afternoon. The report will give acreage
and yield in bu and will revise former
port the government announced the aver
age yield of spring wheat per acre at II. I
bu, subject to revision when the final re-
port was made in December. In October
the average condition of wheat was given
at 1871. In August the government estl-
mated the winter wheat as averaging II {
bu an acre, and put the total yield al
333, 400 600 bu. The total yield of winter
and spring wheat as compiled at the time
of the October report, was 554, 100000 bu
and the total area 44.211,50 acres. OF
which 16, 1876, 500 acres was spring and 2I,
505,000 acres winter. The trade expects
bullish report as the result of the gov
ernment's revision of the spring wheat
yield and a reduction of it's estimate Of
low average quality to bushels.
Broomhall-The tone at the opening was
easy this morning with lower ten
dency to prices, although a temporary
gain of I'D was made in May, following
an unchanged option in both months. The
weakening influences were the continued
liberal Russian shipments and lack Of
support, as result Of which declines oc-
Chicago Cash Business-Cash wheat
was duh In the local market Tuesday
sales of only q, 900 bushels reported oyel
the holidays and yesterday. Prices o.
choice grades On the sample tables were
quoted up with futures with low grade:
steady. Few sales We're made and little
demand is expected until after January J.
St. Louis was strong: No. red IN store
SLY, and Kansas City was also higher
Wire trouble and the foreign holiday Gu
shipping business in corn down to 50,00i
bushels No. oats sales were only 25,
600 bushels, part barley, mixed, and par
white clipped.
Weather map shows severe weather al
over the country. Owing to wire troubles
returns from the Northwest and Canada
are not in it. In the Middle West, South
west and Ohio Valley the mercury varies
from below to 20 above. There has beer
widespread precipitation throughout thes
sections, varying from 10 to 80 De-
Moines is below, precipitation 80; Dav
export below, precipitation SO; Wichita
above. clear; Kansas City 2 above, pre-
cipitation "a; Omaha above, precipita
ton IL.
Generally fair and continue,
cold weather throughout this district
Temperature will be below zero tonigh
in this section, but it will begin to mod
crate northwest. Ilinois-FaiI, colder to
night with minimum below zero; higl
northwest winds. diminishing later In
diana-Fair and colder. high westerl.
winds. Missouri and Iowa-Fair, cold
rising temperature Thursday. Nebraska
and Kansas-Fair, rising Temperature
Thursday. North and South Dakota
Fair tonight and Thursday; slowly mod
Grating temperature. Minnesota-Fair TO