The Saint Paul globe., 1905-01-31
WHEAT CLOSES
STRONG 1C HIGHER
Market Dull but Firm Early
Just Before the Close
Shorts Cover

Minneapolis Chamber of Commerce, Jan:
S0.-The news today from a statlsucal
point was bearish. Liverpool was again
lower, the worlds shipments over a mil
lion more than estima ted, a small increase
in the visible, good sized Increase In
wheat on ocean passage and liberal re,
ceiptS here. The worlds shipments and
lower Liverpool market started the mar
ket off little weaker and for the nrst
half hour prices were inclined to- sag un-
der the pressure of small offerings of
both long and short wheat. The bears
soon discovered that the wheat was be-
ing well taken and started covering
movement, causing a slight rally from the
The posting of the visible had practical
~ no effect on the market, but near the
close on reports of sales of cash wheat by
eleva tors to the mills reported at 10000
bushels, and rumored large sales OF -four
shorts and ScalperS became more active
and prices advanced sharply under the
demand from these sources. With the
exception of the last few minutes of the
session the market was very quiet, and
scalpers who did any trading were in for
small amounts only and for small scalp
ing profits. The market closes within
fraction of the top of the day and unless
something unforeseen in the way of bear
news turns UP tomorrow, the market
should show further advance.
The cash situation is the one that doml-
mates the market at the present and that
could hardly be better. Good wheat was
: very strong here this morning. The lower
grades We're rather slow owing to the
heavier receipts, but everything was sold
that was on the sample tables. st. Louis
reported the cash situation there healthier
and demand much improved. Chicago re-
ported a better cash demand for wheat
than for any day during the past two
week. The Kansas City market was
strong and higher, some of the lower
grades being &c higher than on Satur-
day.
A forecast from Washington predicts
the turning down of any help to North
western millers at the expense of all the
: farmers of the United States by any
I foolish change in the matter of the draw
back Of legitimate duties on Canadian
want all the wheat they can get their
hands on and want it as low as they can
= get it: 1t Is probably on this forecast
that the millers here are taking all the
wheat that's fit for milling and also taking
large quantities of the low grade Elevator
wheat, nearly all the sales of elevator
wheat during the past week having been
May wheat opened slightly easier at
/ SLId5B, sold off to sl.l5s and then. grad,
ra worked u to s1S tbs h1oldng gbn fps
/ at s1.16%. July opened at si.13N, sold at
sI.13@1. 1875, advanced to $114as and
Minneapolis stocks show an increase OF
$4,000 bushels for two days. Receipts,
AZ cars, including So Canadian against
cago IS, against 80, Kansas City so, and
st. Louis $4,000 bushels Clearances of
wheat and flour 21,OU0 DuShelS. PRIMARY
receipts, 1000 bushels, against $4,000
bushels year ago. Shipments 245,000
bushels, against 424 900 bushels.
The visible supply is now SO, 9,SS7, 900
bushels. an increase of 1000 bushels:
16S, 900 bushels. Oats Is, SSS, 600 bushels, a
decrease of 5000. Worlds shipments of
wheat for the past week 9,029,000 bushels;
week before 1885, 900 bushels; last year
11,016, 600 bushels. Wheat on ocean pas
sage increased 1, 1876, 900 bushels. Corn de-
creased $1,000 bushels.
Liverpool wheat closed II @ssd lower,
London and Antwerp unchanged, Buda-
pest Il C lower, Berlin &c lower, Paris
wheat 5000 centimes lower and flour 80
centimes lower.
ool-Wheat-After the opening
unchanged. March declined I'd and May
SD, the factors being larger worlds ship
ments than expected and continued fair
Argentine offerings. Corn-Opening quo
tations were unchanged, but later declined
lad On large offerings and poor spot de-
mand.
Chicago Cash Business-No enthusiasm
in the cash trade in Chicago or other
markets Saturday, but steadiness pre-
vailed, considering the limited business.
There was no pressure to sell. In Chicago
there was taken by millers %, 900 bushels
In mixed lots. No. 2 red f. 0. b. was 81. .1S
to $1.20; No. 1 hard, $1.14 to S1.16; No 8
red brought $1.16A; No. 8 hard $1.10 to
$1.11; No. 4 spring. 961ac; No. northern
$1.19 to $1.20 f. O. b.
St. Louis was Ac better, with No. red
at $1-14ss in store Kansas City was firm
with No. 2 hard $1.06 to $1.07
Corn sales were $4,000 bushels. Prices