The Saint Paul globe., 1904-12-14
OPENING RALLY
And WEAK CLOSE
Bears Rush to Cover on Smaller
Receipts Than Ex-
pected

Minneapolis Chamber of Commerce, Dec
13.-Liverpool markets Were somewhat
frmer this morning, wmch, with the
smaller run of receipts, gave the market
firner opening and rather sharp rally
of over a cent. Another bulllsh item was
the report from Englis that the yield of
the Argentine crop was only about 5Ql5
bushels and quality not UP to eXpecta-
tions. This was due to the cold wet
weather and blight from frost.
BradStreet'S report showing another
heavy decrease in the worlds visible was
also bulIsh and helped to give the market
some strength. The early advance, how
ever, had filed up buyers and when some
of the scalpers and holders Of calls
started to sell, there was no one to take
the wheat off their hands, and the market
suffered a sharp break of cents. A few
stop loss orders were reached at $1.10,
which added to the general tone of weak
ness There were some resting orders in
the market at around that price, which
partly offset the stop loss selling and pre-
vented q worse break.
Trade was fairly active during most of
the session, scalpers playing both sides of
the market, getting whipsawed- in the
early trading but making up their losses
on the decline later. Traders are playing
pretty close to shore. while the majority
OF the scalping crowd are inclined to the
bear side. They have been whipped SO
often on that side that it is not difficult to
make them run to cover whenever the
market turns strong. The same may be
said of the ScalperS who are chronic bulls
Contract stocks of wheat at Minneapo-
lis Duluth, Chicago and St Louis are only
5.597 600 bushels against S,3S1.000 bushels
q year ago. Minneapolis stocks of wheat
increased $4,000 bushels for three days
Receipts here 392 cars against $50 cars a
year ago; Duluth had 2S8 cars against 90
Chicago 43 against III. Kansas City 167
and st. Louis SO. 900 bushels.
BTadStreet reported wheat east of the
Rockies decreased 1,371.000 bushels. Eu-
rep and afioat decreased 100000 bushels.
Total decrease, z2,371, GOO bushels. Corn in
creased 100000 bushels. Oats decreased
$4,000 bushels Clearances of wheat and
-four $4,000 bushels. Primary receipts,
last year. Shipments, $4,000 bushels,
against 225. 900 bushels a year ago.
LIVERPOOL London, Antwerp and Buda-
pest closed unchanged, Berlin &c lower,
Paris wheat and -four 5000 centines
lower.
Foreign Crop Summary-United King
dom and Germany-W Weather the past
week has been wet, which is favorable
for. the crops and reports are now most
satisfactory.
France. Italy and spain-Drought has
been generally relieved and crop outlook
improving in consequence.
Roumania-Crops in excellent condition,
but there is no snow covering, which is
causing some anxiety. Arrivals at ports
very small.
Russia-Crop news favorable. Situation
generally unchanged.
IndiaECrops continue to progress ia
vorably
Ausfralia-Private estimates on the ex-
portable surplus have been reduced to
20,000,000 bushels. This is about half of
i~the early estimates.
An Omaha message reads as follows:
: Mr.. Walsh. Nebraska commissioner to
the worlds fair, just returned this morn
ing from St Louis. He says the snow of
Saturday and Sunday in Missouri was of
very little benefit to the growing wheat.
He says what little snow did fall was so
light that it has blown away and almost
entirely disappeared Mr.. Walsh says the
condition of winter wheat is the South
west is absolutely the worst he ever knew,
and he thinks the outlook for the growing
wheat in that section is very bad. Mr..
Walsh is a practical farmer and consider
Vest " GHs . 'ne Oess e'9p eNpei . - 'Hs
Chicago Cash Business-Sales of cash
wheat of all kinds TO mills Monday were
Is. 600 bushels. Prices declined 1c. No.
red f. @ b., in car lots. was S1.14 to
S1.10 to Sill, No. 2 hard was scarce at
$1.OS to $1.10. A sale of 5000 bushels
sample hard winter wheat was at 92c.
car of No 8 spring brought S1.0S
In st. Louis so, 600 bushels No. red sold
TO local mills and No. 2 red declined 1c
and closed at 1;0S1z The f. O. b. price
1zc and No. hard sold at s1.04 to $1.05;
Sales of corn were 325, 600 bushels, all
No. 3, with the exception of $4,000 bushels
No. 3 yellow sold to New England Sales
10000 bushels standard at sc to 12c
over May in store.
At the Seaboafd exporters bought 10000
bushels corn.
Weather Map-Extreme Northwest-1O
below to 26 above. partly cloudy North
wesESix below to 20 above generally
in Northern Illinois; partly cloudy in Iowa
and Nebraska. Southwest-Sixteen to 36
above, generally cloudy; showing at Dodge
City, Kan. Ohio Valley-Twenty to 26
above. generally cloudy.
Weather Forecast-Kansas-S to-
night and Wednesday,. NebraSka-Prob-
ably snow f1urries. South Dakota-Partly
cloudy, slowly rising temperatures. North
Dakota-Partly cloudy. warmer. Mime
sota-Partly cloudy snow near Lake Su-
perior. Iowa-Partly cloudy. snow flurries
west warmer. MiSsouri-Partly cloudy.
snow in south and west portions. Illinois
and Indiana-Partly cloudy and colder to-
night and Wednesday in north and east
portions.
Range in Minneapolis Prices
Close Close