The Saint Paul globe., 1905-01-04
OPENS 1c HIGHER,
CLOSES C LOWER
News All BuIIish Excepting the
Visible Supply, Which Showed
an Increase

Minneapolis Chamber of Commerce, Jan.
3.B-The I. trading for the new. year com
menced today under the best kind OF news
from a bull standpoint that has been
forthcoming in a month. That was the
reason for the strong opening which was
upset by the blunder committed by some
one telegraphing the amount of wheat at
Port Arthur, Canada, which was said to
have increased 2500,00o pu last week; a
later report corrected this, making @
point named, but. the damage had already
been done. The Liverpool market was ex-
ceptionally strong and stocks of wheat
there decreased 160,00 bu in spite of the
heavy arrivals during the past month.
The market on the curb sold at ST.
but the official opening was at 81 l6% and
proved to be the high point for the day.
Liquidation of long wheat began at the
opening tap of the bell and was helped
along by the bears. who started to ham
mer prices when 1T became evident that
buying orders had been pretty well filled
around the opening price, The market
ruled strong and weak by turns, giving
but slight comfort to either the bull or
bear, although the latter have the best of
the argument at the close, which was 5e
lower than the close of last Saturday.
Trade was active during the entire ses-
sion, although no very large amounts We're
quite badly whipsawed in the days
operations, getting too bearish on the
weak spots and rushing to cover when
the market turned strong, and then TAX
ing the bear side only to let go on the
weak spots. With the exception of the
visible supply which showed an increase
of nearly a million bushels where Satur-
day they expected a decrease, the news
was all of sstrongly bullish character.
There was a very strong cash demand at
all points with light receipts. primaries
showing considerable less than million
bushels for three days against over a
million for one day a year ago. The cash
demand here was excellent and prices very
strong, while the -four demand was much
strong and l cent higher, while at Kansas
City prices were Ito cents higher.
May wheat opened up %c at s1,16A;
and closed at $1.15ss July opened at
81 a., sold at 81 145s @1. 14I4 broke to
S1.12A, rallied to $1131s and closed at
Minneapolis stocks increased 100000 bu
for three days. Receipts here 524 cars, in
Guiding so cars of Canadian wheat against
545 cars year ago. All receipts reported
year ago. Duluth had 54, against SO, Chi
cago "a against So, Kansas City 5S and St
Louis Lou $4,000 bu Inn Clearances Of wheat
S91 900 bu, against 1,O91, 600 bu a year
ago; shipments, 15S,000 bu, against 100000
bu.
bu, an increase of 901, 600; corn, 9,577, 600
bu. an increase of 1859, 900 bu; oats, 22,-
S32, 600 bu, a decrease of $40, 600 bu. Wheat
on ocean passage, 33,1s4,O0O bu. de-
an increase of $4,000 bu; worlds shipments
of wheat for the week, 6,936, 900 bu; last
week, 10, ,432, 600 bu; last year, 8,648,0 bu
Liverpool wheat closed q old higher;
London Id lower; Antwerp unchanged;
Paris wheat and flour firm; no compari-
3 son; Berlin. &c higher and Budapest &c
higher.
Weekly foreign crop summary: United
Kingdom-The winter crops look we'll
. France, Germany-The weather is winter
ly, and although the crops generally look
favorable, more snow is wanted. Supplies
are fair Italy, Spain-Crop reports are
favorable Russia, Roumania, Bulgaria
Crop reports have been favorable but a
commenced. The snow covering is de-
ficient. Argentina-Some private reports
state there has been further rains in the
North. Our agent cables that splendid
rains for corn have fallen and the pros
poets for that crop are excellent.
Broomhall predicts the arrivals of bread
stuffs into Europe the next four months
will average $4,000 bushels per week,
while the minimum weekly requirements
are 100000 bushels Of the above ar
rivals North America is depended upon
for $40. 900 bushels weekly. He also esti-
mates that North America will ship 640,-
600 bushels per week additional to nom
European countries.
Price Current-An interesting feature
In the conditions of the week which
brought about the disappearance of snow
and the rainfall in the winter wheat re-
gions is the fact that the ground being
unfroZen with the rain coming in a mod
crate way admitted of the absorption of
the moisture by the earth in q most
gratifying manner throughout the sections