The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-28
STRONG EARLY,
CLOSING EASIER
May Advanced to St.16H on
Covering, Later Breaking
to S1.15M

Minneapolis Chamber OF Commerce,
Jan. 27.-The market opened weak and
sc lower on the large Argentine ship
ments and lower Liverpool cables, and
for a short time was inclined to drag;
The wheat was pretty wei Ia TAKEN ta os AND
causing a sharp advance of full cent
Prices held above yesterdays closing f1g-
ure until around the noon hour, when
the shorts, seeing that the market was
losing its support, turned to the snort
side and hammered the market down
1ssc from the high point, prices recov-
eTing fractionally at the close. There
was<no particular feature in todays mar
ket none of the prominent operators do
ing anything to call special attention to.
feature, No. l northern selling at 1c un-
der May, No. northern at Az @5c under,
No. wheat at s103@107, No. a at 94c@
81, with millers active bidders. Re
demand and milleTs are taking elevator
stocks of No. 3 freely from the elevators,
besides the 100000 bushels reported in
this paper yesterday, there was another
lot of 50, 600 bushels sold today that was
confirmed, and rumorS place the sales at
100000 bushels A message from Port
land Or, stated that freight rates to for
eign ports had dropped down about one
third from what they were and that
there has been some wheat worked for
export from that place with prospects
uation at both st. Louis and Kansas
City was very strong, with prices 1a@1kc
higher, st. Louis reporting 10000 bushels
No. 3 red sold out of store to go to
May wheat opened off as@hc. at s1.15%,
sold at $1.151a, rallied sharply to s1.161s,
broke to s1.15@ and closed at $1.153s
rallied to sL1sM .1s%, broke to si.i2ss
@1.12% and closed at $1.12%.
Minneapolis stocks increased 100000
including 10 Canadian against 1872 year
ago, Duluth IL against 81 Chicago %
against "a, Kansas City 33 and ST Louis
S6, 600 bushels. Clearances of wheat and
the week 1,101. 000. Primary receipts
$1,000 bushels, against 5000 bushels.
Shipments 1913, 900 bushels, against 231,-
600 bushels. Argentine shipments 20O0-
600 bushels. last week 1,716, 600, last year
2,056,000 bushels.
Liverpool wheat closed %@1kd lower,
17sc higher, Budapest Hc higher, Paris
wheat unchanged to 10 centimes higher,
-four 25@S0 centimes higher.
Modern Mliier.A large area of the
winter wheat belt was in an unprotected
condition during the late severe cold
weather. but it is impossible to tell at
this early day whether damage will re-
suit. Country reserves of wheat are be-
low the average for this season of the
year and the movement is light
Broomhall-Under the influence of a
good foreign demand the Argentine wheat
markets are now firm. Arrivals from the
interior are liberal and the quality is sat
isfactory. The corn markets are easy
on account Of the. export demand being
small The weather continues favorable.
but corn has not been maturing well and
the yield in Santa Fe is low, owing to its
exuberant growth.
Liverpool Wheat-The wheat market
opened unchanged, but realizing on heavy
Argentine shipments caused declines of
3scs In March and nc in May The de-
cline In May was recovered however,
owing to good demand from the con-
tinent of cargoes as well as good de-
mand for flour. Quotations at 80 D. m.
We're unchanged to &c lower than the pre-
vious close. Corn-Initiak prices were II C,
with further decline of &c in March ow-
ing to heavy American arrivals but LATER
the market steadied 1sc in sympathy with
the firmer feeling in wheat.
We're paid in all markets for cash wheat
Thursday. particularly in Kansas City and
Minneapolis, the low grades being up
Sharply. In Chicago prices were steady
to lie higher, the latter on best grades.
Sales We're only 1000 bushels. No. 2 red
was rs to s1.20 f. o. b., with a car sold
at the latter price. No. 3 red sold at s1.14
o; p, SIl4 to 1.16, No. 8 hard Slip to
$l.14, and No. red at 81. No. mixed
brought $1.10. No. a. spring had a range
brought $1.061h.
St; Louis gained nc, with No 2 red
Sl.14 in store and s1.151k to $1175h
+. O. b. Kansas City was up lie to SIC.
$1.0S. Winnipeg, Toronto and Montreal
wheat.
Corn advanced &c, and sales were called
: SOC, 600 bushels on the new rate of freight.
part of the business having been done the