The Saint Paul globe., 1905-01-22
LIVERPOOL STRENGTH
SURPRISES TRADERS
Shorts Cover on Morning Curb
and Sell Wheat Freely
During Session

Minneapolis Chamber of Commerce, Jan.
21.-The bears were given a srock this
morning on coming down to business to
find that the Liverpool market closed at
an advance of ss@Ac in the face of weak
American markets. 1t is said that the
advances over there during the past day
or two were on the smaller Argentine Of
ferings and covering by shorts. If our
to advance, we will be getting closer to
an export basis. We have been out of line
with Liverpool so long that the quotations
from there have had but little effect on
American traders.
The shorts started a covering move
ment on the early curb and caused a
strong and higher opening. and at practic-
ally the high point of the day. The de-
mand had been filled on the curb, and
yesterdays buyers were willing to take
their profits and sold wheat rather freely.
the large bears pounding the market on
every little rally. The beariSh feeling
became intensified as the session progress
ed, resulting in a break of 11sc from the
opening price, with fractional rally just
before the close. Trading was active and
scalpers who were bearish reaped quite a
harvest. The afternoon curb was even
more bearish than during the session,
May wheat selling off 5sc to Slips.
Reports that interior stocks were much
more than had been rumored was one of
the principal bear cards which, with the
continued liberal receipts here and poor
cash demand not only here but at all
other markets, gave the bears the courage
of their convictions and they were good
sellers on all rallies from time to time.
A correction was made in the decrease
here for the week, being only 49, 900 bu
instead of 250,000 bu, as reported yester-
day.
May wheat opened up sc at s1.14%.
sold at $114% @1.147s, broke to S113X,
and closed at $1.13h. July opened at
$1.111s, which proved to be the high point
for the day, rapidly declining to S1.09%
and closing at $1.1O.
Minneapolis stocks decreased 5000 bu
for one day. Receipts here were 1856 cars.
against 301 year ago; Duluth 40, against
40; Chicago 16, against 80; Kansas City
110 and st. Louis $4,000 bu Clearances of
wheat and flour, 1000 bu. Primary re-
ceipts, $4,000 bu, against $3.50 bu;
shipments, 2l9,O00 bu, against 2S9, 900 bu.
Worlds shipments estimated at 1900, 900
bu. Australian shipments of wheat, L.
032, 600 bu; last week, 776.000 bu; last year,
1,069, 900 bu.
Liverpool wheat closed ss@ald higher;
London unchanged; Berlin and Antwerp,
sc higher; Budapest, Ae lower Paris
wheat and flour, 10000 centimes lower. N1
Liverpool--Broomhall predicts world s
shipments Monday will be about 1900, 900
bu against a similar quantity last Mon
day. Iie expects there will be but mod
eratc Charges in the breadStuffS on pas
sage of the shipments. Europe will prob
Z ably take about 6,400 900 bu. Arrivals of
breadstuffs IN the United Kingdom during
the past week was about 5000 900 bu, as
against 2.400 900 bu a week ago. and f.
100, ,00u a year ago.
RroonhaIl-W Wheat: Scarcity of Argen-
tine offerings caused an opening advance
of Il d in each delivery, with further net
gain of I'd in March, sd in May and Hd
Is III July later, as a result of good specu-
lative SUPPORT The undertone to the mar
ket IS very firm. Corn: During the morn
ing January advanced SD owing to
strength on spot market, holders being
Verv firm in their views. March also ad-
vanceu 1SG from the opening, but later
deciired I'D on estimates of heavy Ameri-
s can shipments.
Chicago Cash Business Opinions on the
cash wheat demand were not unanimous
although sales Friday here were 35, 900 bu
to a shade lower. No. red f. O. b. was
S1.17@1.1S; No. red sold at S1.13; No.
hard, 31ac under May in store and f. o. b.
$1.14@1.15. No. hard brought S1.12a q
1.15%. Two cars of No. 8 mixed wheat
sold at $1.06. No. 4 spring sold at 90c
and the hard variety at s1.05; No. 8, 81 .05
@1.06.
st. Louis finished at s1.1SA for No. rec
: in store and $1.16 f. o. b.
Kansas City carried over so cars from
Thursday and late trades were at 1@2c
lower, with little demand.
Corn sold in the sample market at u q
7ac decline. and oats suffered the same
loss. At the seaboard exporters sold $780,
600 bu of corn.
~ Weather-Map shows generally cloudy
conditions everywhere with a little pre-
cipitation in the Dakotas and Mime
sofa. Nebraska s to % above; precipita-
ton. trace and showing at Valentine
Iowa, cloudy, to % above. Illinois
cloudy, 81 to 80 above .06 precipitation
Chicago. Missouri, cloudy 2S to 80 above
Oklahoma. cloudy. 80 above. Fort Worth