The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-20
HEAVY SELLING BY
LARGE OPERATORS
Market Very Quiet Until the
Noon Hour When Bears
Start a Raid

Minneapolis Chamber of Commerce. jan
19.-DuriDg the. early part of the session
up to the noon hour the market was eX-
tremely quiet. there was practically moth
ing doing and traders We're playing morse
in the pit a good share of the time A
few fves and tens were occasionally
traded in among the scalpers and there
We're no indications of the severe break in
sight up to the noon hour. Shortly after
the noon hour, heavy selling orders APP
peared in the pit, traceable in part to
eastern holders, and as there was no de-
mend for the offerings the market be-
came Very weak and dropped off Sharply
the top price of the day. Stop loss orders
We're reached below $1.15, which added
to the general weakness.
There was little or no demand on the
way down until the market had reached
$1.14, where a few of the scalpers coy
cred little and buying against puts also
absorbed quite little of the wheat, but
this demand was not enough to check
the market until it had dropped a further
Nc. The demand from shorts became
little better at this point and frae-
close, which was Us @14c lower than the
day before. The afternoon curb market
was very weak, May selling down &c to
$1.135s with no demand. 1t was said that
quite liberal sellers all the week, We're
the best sellers today and dumped mill
ions of bushels of long wheat in all the
speculative markets. From the amount of
selling during the past week they must
now be pretty well cut out of their big
line, or. the shorts interest has been
is certain that the tailers on have been
badly punished and have been compelled
to throw over large quantities of wheat
bought last week on the advance.
The Liverpool market was firm and
again showed good advance, but this
was offset by the continued liberal re-
ceipts here. This run of cash wheat is
due to the heavy sales of wheat to ar
rive during last weeks advance and
which is now making its appearance,
the bulk of it is coming from country ele-
country elevator stocks. The cash demand
today was fair, with millers taking the
bulk of offerings An early cable reported
a. very light Argentine shipment of wheat
this week, but a later cable from Broom
hall estimated shipments at 100000 bu,
which would indicate more wheat than
expected last week A Kansas City mes
in Kansas. but that the growing wheat
was In shape to be adversely affected by
freezing weather.
to si.15%. reacted to s1.l5A and hung
around $1.157z until the noon hour, when
1t started on. the down grade, selling to
u $1.13& and closing at $1.14. July wheat
Sill and closed at $1.111s.
Minneapolis stocks decreased 100000
bu for five days. Receipts, 374 cars, in
euang tS q against 2S5
u, against none; Kansas City 81 and ST.
Louis $4,000 bu. Clearances of wheat
and flour, $4,000 blu. Primary receipts,
$4,000 blu. against 81, 900 bu last year
) minneapolis not included in last years
reeeipts). Shipments, 100000 bu, against
/. 255.000 blu.
Liverpool wheat closed A@hd higher,
Antwerp and London unchanged, Paris
wheat unchanged to centimes higher.
Flour Unchanged Berlin, &c lower, and
Budapest 1sc higher.
can see no reason why wheat should
not rule above 81 per blu for the next two
or three years. said former President
w. S. Warren, of the Chicago Board of
Trade. The actual wheat is going into
consumption at fully as high relative
prices as the futures we are trading in,
have curtailed consumption by as much
as / per cent. We ihave almost as short
crop In prospect as the one we raised
last season, and it has its vicissitudes be-
fore it,
Price Current-Winter wheat generally
under snow. Week favorable for wheat
and for improving corn quality. Cold
of corn and feed materials Packing $780,
O0o hogs, against 100000 year ago.
Broomhall-Liverpo ol--Wheat-Openins
prices were unchanged and no further
changes was shown at $50. but the under
tone was very steady. owing to offerings
of Argentine wheat being confined to sec
ond-hand sellers only. 4Corn-After OPEN
ing unchanged. both months advanced ss C.
the factors being better spot trade and
the fact that importers are storing ar
rivals
London-One cargo Of wheat has arrived
off coast, compared with two yesterday
Three cargoes are waiting at ports of cal