The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-13
c ISL DEMAND
RATHER POOR
Elevators Selling Wheat Cheap
er Than Sample Wheat
Can Be Bought

Minneapolis Chamber OF commerce,
Jan. 1.-THE feeling of nervousness In
the wheat pit today could readily be seen
by the sudden and frequent. changes In
prices, the ups and downs following each
other rapidly, although the range was
small up - just before the close, when a
heavy selling. movement set in which
caused the market to close weak and at
er than the top figures for the May option.
Scalpers have sold their wheat freely dur
ing the past two or three days and bears
have also put out some fair sized short
lines Considering the amount of wheat
sold this week prices have held remarka-
bly, we'll
Liverpool continues to show steadiness,
while other foreign markets did not show
any weakness. The recent heavy SHOWS
over the winter wheat country has had a
somewhat bearish influence on sentiment,
also the poorer cash demand here the past
two days While all offerings On the sam
pla tables We're taken care Of it was at
discount from the recent high prices. All
grades are lower, and especially the lower
grades, which have suffered a decline of
2@5c, as compared with the decline of
? about 10112c in futures. The reason for
this is that the elevators are selling their
stocks of low grades of wheat at cheaper
prices than buyers can get at the sample
tohles.
The market opened practically I'M
changed and held steady within a fraction
Of opening prices until until }pst before the
tons turned sellers and hammered the
market to a standstill. The best sellers
today were Watson & Woodwork, while
Lewis & Whallon Case were about the
best buyers, especially early in the ses-,
sion. Scalpers played both sides of the
marhet for scalps and l:saraged to pick
up little profit on their deals
Oscar Youngren, of Hallock, Kittson
county was on the floor today, and In
conversation with I h G 10 b e reporter
stated that he did not believe that there
was 10 per cent of the crop left in farm
ers' hands in that county, and that the
elevators held but little wheat In store.
Af oil fhnr
was probably 25 carloads; at Hallock, with
five elevators, a little more. Farmers
have sold their crop much earlier this year
and sold practically everything. expecting
to be able to secure seed wheat from
Canada. He says that, of course, there
are a number of farmers who are well
enough fixed financially to be able to hold
their wheat for much higher prices, and
some of them have done SO. The acreage
the coming sprinp will be considerable
larger than that of last year.
May wheat opened at $1.17ss, dropped to
$1.17ss@117A, advanced to $1,17A @118,
and closed at the bottom at 81. @1.16%.-
July wheat opened up Nc at $1.15ss, sold
at $1151s, and closed on bottom at ST. 143s.
Minneapolis stocks decreased $4,000 bu
for five days. Receipts here, 290 cars, In
ago; Duluth. against so, Chicago 1S
against 80, Kansas City 10000 bu and
St Louis $4,000 bu. Clearances of wheat
and flour, $4,000 blu. Primary receipts,
5e6, 000 bu. against $4,000 bu last year.
Shipments, 228,000 blu, against 432. 000 bu.
y = Liverpool wheat closed rs "a I'D lower,
8 London and Antwerp unchanged, Berlin
&c lower, Buda Pest &c lower Paris
wheat unchanged to 10 centimes higher,
flour unchanged.
Buenos Ayres-Rains interfering with
+ threshing Exportable surplus in Argentina
not more than last year. Prospect was
for s3O,000,O00 more. Early corn crop
prospects much poorer.
Portland, Or. gives the total movement
of wheat and flour as: Wheat from July
to Dec. 81, 1904, at 29, ia, 900 blu, COM
pared with Il, 455, 600 bu one year ago..
and -I,2S0.000 blu two years ago, and
stocks remaining in all positions 10, $50, 600
sbu. The shipments east already gone, and
to go amount to about is, 600 bu.
Price Current: Whatever change in
.saging indications now generally under
sGnow Little frost in ground. Grain move
ment as usual Packing, $4,000. against
$4,000 last year. I"
- Iiverpool-Wheat - Cheaper Argentine
offerings caused an opening decline in
wheat of sd for May and July, with an.
other break of &c later. However, the
undertone to the market steadied on talk
OF light Argentine shipments and an in
creas1ng speculative support Corn-The
opening was at an advance of sc with a
further gain later of sd in January and
I'd in March, owing to firmer American
Gfth undertone of the market firm Later
March eased off I'D.
Chicago Cash BusneSs-Lack of anima-
ton characterized the local cash wheat
market Wednesday, but prices were about
steady and offerings in the open market
small. There were sales of 80. 900. bu
mixed lots here, including a lot of 1000 bu