The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-01
TWO CENT BREAK.
CLOSING ON BOTTOM
Cash Demand Poor, Except for
Nos. 1 and 2 Northern
Wheat

Minneapolis Chamber of Commerce
Feb. 2S.-Another day with the bears in
control and very jubilant at the close to-
night, having forced the price of wheat
down csc. 1t has been very severe on
the longs the past two days and today was
nearly as bad, If not worse than yester-
day. The decline was persistent and
steady from the tap of the bell until the
close. the market closing on bottom. Al
10 time did the market show any evidence
of supporting orders, selling has been
general with commission houses busy ex-
ecuting stop loss orders on every &c de-
cline; the lower the market went the
against puts by some of the traders
around $1.13 failed to check the decline
except for moment. This indicates that
the unloading of long wheat has been
general and the pressure from the bears
also very great. materially increasing
their short lines, as they have not, as has
been the case for the past few weeks,
been covering on any little break of hall
a cent Or so.
Trading was very active during the en-
tire session. Orders to sell came from all
parts of the country that are interested
In the Minneapolis market. Many brokers
We're swamped with orders and some of
the houses had to have two or more men
in the pit to fill orders, one man not be-
ing enough to take care of the business.
If this is a liquidating market. as il APP
pears to be tonight, nothing can be ex-
pected until this liquidation has run it's
course. The rallies are likely to be very
feeble while the market is in such a nerv-
Gus and excited state. The cash demand
was what might be called rotten. No ]
northern sold quite well around the May
price; No. northern was in fair de-
mand at 3@41ac under, No. 3 very slow at
9Sc@$l.O4. and No. was extremely-s slow,
selling at S5@95c.
and worked from this down to Silly the
low point and the close. July opened off
&c: at nos $l II H. the top price; sold down
TENDER opened Il &c lower, at 93c, broke
to 91Ac, closing at 92Kc
Minneapolis stocks decreased 10000 bu
for three days. Receipts 1853 cars against
246 a. year ago. Chicago 40 against So
Duluth q against 103, Kansas City lao
and st. Louis $4,000 bu. Clearances OF
wheat and flour 1000 blu. Primary re-
ago. Shipments ZOO bu against 397-
600 blu. Bradstreet reported wheat east
of the Rockies increased $4,000 blu. Eu-
rope and atioat increased 100000 blu. To-
tai increase 249,000 bu.
Liverpool wheat closed A@3sd lower,
Berlin &c lower. Budapest &c lower, Ant
Werp unchanged. Paris wheat 10@15 cen
times lower, flour 35@75 centimes lower
l-Wheat-Opening was mac
tice and Ad lower. being affected by the
declines in America yesterday. The dis
tant months later reacted Ad on the I'M
satisfactory Indian news and the reports
that grain in Russia is rotting on the
railroads as a result of being held up by
the strikes. Toward noon the gain was
lost as the result of poor spot demand.
AT 1870 p. m. prices were unchanged to
sd lower on March from the opening.
Corn-The strength in the American mar
kets yesterday caused an opening gain of
lsd; but during the early session March
declined "A on realizing and in sympathy
with poor spot demand India-Weather
reports are conflicting but are nevertheless
causing anxiety
Chicago Cash Business-Millers took
10000 blu of wheat in Chicago Monday
and prices averaged fully &c lower. No.
2 red +. Q: b. was $1.1S to $1.21: No. 3 red
sold at Sill to $1.141z, and No. red at
$1.05 to $l.09. No. hard was sl14 to
s1.16. A car of No. 2 northern sold at