The Saint Paul globe., 1904-12-20
WHEAT TRADE QUIET,
UNDERTONE STRONG
In Today's Receipts Were 81
Cars of Canadian Wheat
for MiIIers

Minneapolis Chamber of Commerce,
Dec 19-The market today was very
quiet with narrower range than for
many a day, only about &c on the May
option, the most active of the futures.
Foreign markets did not show any snap,
worlds shipments were liberal but about
what We're estimated there was big de-
crease on ocean passage and Armour had
an Argentine cable reporting weather
fine and harvesting progressing rapidly.
The. visible again showed a good sized
increase, more SHOWS reported in the
winter wheat belt. About the only bull
ish, item was the receipts here which
showed only GA cars, with 81 cars of
Canadian wheat among them, leaving but
533 cars for two days receipts
Scalpers and shorts were good buyers
On the curb and opened the market up
half cent, after reacting &c it gradually
began to- work higher, eventually advanc-
the close shows practically ~ rally for
the day. Trade was very quiet, there be-
: ing practically no activity on either the
buying or selling side. The scalpers
and were willing to take small profits
and would not stand for but small losses.
The undertone was very strong all day
with the exception of just before the
close some of the early buyers not want
ing to go over long took their profits
which caused a trif1e easier feeling at the
close
May wheat opened 1kc up, at s1.12%,
sold at Slips, rallied to s1.132s, and
worked between these figures during the
entire day, closing at Slips @1.13. July
opened at 81 1.117s, rallied to $l1215 @1. .125s,
and closed at $1.121s 01.12A.
Minneapolis stocks increased 100000 bu
for two days Receipts, GA cars, against
SI9 year ago; Duluth. 127 against "A;
geo bu, and st. Louis $4,000 bu Liver
pool stocks reported at 5,152,000 bu,
decrease of 10000 bu; corn 526, 600 bu, de-
crease 100000 bu. Clearances of wheat
f0llls hI1 PriT1 1or 1eoac cir1f5
1,033,000 bu against LII, 600 bu last
year; shipments, 2S9,O0O against 203, 900
bu.
Worlds shipments of wheat S,S40, 900
bu, last week 9,2SS,0 900 bu, last year
1854, 600 bu. The visible supply reported
at 38,585000 bu of wheat, an increase of
1 ~ COG 9 bu; corn 5,S59, 900 bu, an increase
of $4,000 bu; oats "a $4,000 bu, a de-
crease of u 900 bu: wheat on ocean pas
sage decreased $4,000 600 bu; corn de-
creased 900, 900 bu.
Buda Pest &c lower, Paris wheat un-
changed to centimes higher flour 10
centimes higher to 25 centimes lower.
Berlin, Antwerp and London unchanged.
Edward Heeman. of Chicago, says: I'm
my opinion any concession made by Sec
retary Shaw pertaining to the mixing of
Canadian wheat with American wheat,
all of it to be exported, must be con-
strued as a bull instead of a bear argu-
ment. It will mean that just so much of
our wheat will be exported that would
not be otherwise. The continued large
stocks and receipts of wheat In the
Northwestern markets seems to be about
the only argument of the bears, but as
comparison of the last three years is
will require every bushel of wheat they
have there now or will get and more too.
The receipts there have always been large
from October to December and the Vlsi--
BILE records show Minneapolis had over
1900, 600 bd of wheat in January, 1902,
which was reduced to about 100000 bu
by the following September. This year,
owing to the high prices the farmer
everywhere has marketed larger proper
tion of the crop than ever before, which
means that Minneapolis will receive
much smaller quantity this year than ever
before and the supply left there next fall
will probably be very small.
In fact, there is every indication we will
next summer experience the greatest
scarcity of wheat on record, and the wild
est predictions as regards the probable
price is likely to be realized before an
other. crop is available.
On Dec. L the Daily Trade Bulletin
figured the total worlds stocks of wheat
and flour at 200, ,000 600 bu against 174,-
000.006 a year ago, so that available sup
plies this year are 26,0G0,0O0 more than
last year. Ten millions of the increase
in United States and Canada and the
other 16,000,000 in Europe and a1oat
LiVerpool-The agent at Agra, India, ca
bles that the United and Central provinces
have received most opportune rains for
largest provinces.
Roumania-Last seasons corn crop is Of
ficially estimated at 2O,656,O00 bu, against
Sc. .572, 90 bu in 1903.
Chicago-A Liverpool house cables:
Wheat quiet, but rather steadier. Sup
plies more moderate. Corn futures are
neglected and declining because of larger
receipts expected. Shipments too small
to allow of much decline. Consumption
expected to increase. The weather is
more favorable"
Chicago Cash Business. More wheat
was wanted by millers late Friday and
Saturday, $4,000 bu Duluth and Oregon
wheat being sold to mills Friday after
noon by one house and 10000 bu in mixed
lots Saturday. Prices on the sample ta-
bic were 1%c lower. No red. $1.14z@
11515: No 8 red. $1.10@114; No. , hard,
$1.10@114, and No. spring, $1.10@1.12.
St Louis declined 12c to $1.11& for No.
red in store and Kansas City 11c to
$1.04Q1.06 for No. hard. There were
claims of 500, 900 bu No. / northern sold
out of store at Minneapolis to mills.
Weather Map-Extreme north and
Northwest, zero to 80 above. Northwest,
generally cloudy, 4 to 26 above, light
scattered SHOWS. West and Southwest,
clear and lower tempera lures. s to "a
above, light SHOWS in Illinois and Iowa.
Ohio valley, cloudy, "a to 81 above, gen
eral SHOWS.
Weather Forecast: Illinois-Fair warm
er central and west. Tuesday increasing
cloudfiness north and central Indiana