The Saint Paul globe., 1905-01-10
STRONG OPENING,
STRONGER CLOSE
Minneapolis Stocks Decrease
225,OOO Bushels for Two
Days-Demand Strong

Minneapolis Chamber of Commerce, jan.
9.-Now that the time has arrived for the
accumulations in commercial channels to
gradually disappear the trade is becom-
ing more alive to what is to be expected
from now on. Bulls who have previously
hesitated about taking on more wheat
were active today and those who were
short helped the strongly upward move
nlent. In addition to decreasing stocks
the demand for milling wheat was ex-
cellent from all directions, Kansas City
and st. Louis report decreasing stocks,
with no wheat to come in later to replace
them. OF the 587 cars received here to-
day there was rs Canadian in bond for
grinding and round lot of low grade
wheat from Duluth bought by millers.
This indicates the alarm of the millerS
over future supplies, and the cash market
was very strong here and everywhere else,
Detroit selling wheat to interior mills at
81. %. Duluth reported a sale of 10000
bu in store at Buffalo to Buffalo miller
at a very high price, but the price was
not made public.
Worlds shipments were moderate and
there was n good-SiZed decrease in the
amount on ocean passage which should
make BradStreetS report tomorrow very
bullish. The visible report was not issued
today owing to the fact that some of the
Canadian points were missing. The Maple
Leas elevator at Kansas City burned Sat
urday night with 100000 bu of the best
wheat in Kansas City, also 40 cars of
wheat which will lower the visible supply
just that much. Liverpool showed con-
siderable strength on their opening cable.
DQI In1S was parity lOSt DY subsequent
reports. In the winter wheat belt the late
warm weather has practically melted all
the snow covering over the winter wheat
plant, and with cold wave reported for
the entire Northwest and Southwest 1T is
hardly likely that the growing crop will
come out without some harm.
There was some short covering on the
curb which gave the market a very
strong opening, advantage was taken of
this advance by few of Saturdays early
buyers 10 take their profits and half
cent less was the result. very good de-
mand sprung up at the decline and finding
offerings practically nothing prices start
ed upward with rush, the higher 1T went
the stronger it became, until call price
was reached, when there was some SELL
irg against calls which checked the ad-
vance for the moment, prices later break
ing through call price and selling within
fraction of the previous high point,
,closug very strong at slight concession
from top figures, but l 1sc over the close
of last Saturday. Trade was fairly ac-
such that with the Wall street line hang
ing over the market they are not inclined
to load up very heavy. The short in
terest is small and the scalpers only take
the short side for small profits on the
sharp bulges, while the same may be said
of the scalping bulls in buying on sudden
breaks, both run quickly II the market
starts against them.
May wheat opened up Ac at s1.175s,
broke to $1.11B, rallied to $l.18B and
closed at s1.1S1s. July opened fractional
being followed by an advance of bc to
$1.1Sss and closing at 81. 1873 @1: 15k.
Minneapolis stocks decreased 225, oOO
bushels for two days. Receipts were 5Sl
: cars, including rs Canadian against 55S a
year ago, Duluth SO against 30, Chicago 5S
against 80, Kansas City 900 bushels,
and ST. Louis $4,000 bushels Clearances
of wheat and flour 80 600 bushels. Pri-
mary receipts, $4,000 bushels against l.
100000 bushels against 276,000 bushels.
Worlds shipments of wheat 1884, 600
bushels; last week, 6,639, 900 bushels; last
year, 1922, 600 bushels. Wheat On ocean
passage, $4,000, 600 bushels, decrease of
< 2,244,000 bushels Corn, 19. 243. 900 bushels.
an increase of 3S5,000 bushels. The world S
visible is 189, 216, 900 bushels decrease
year it was 17S.274,000 bushels. an in
crease for December of that year of 4,1S9,-
600 bushels.
Liverpool wheat closed Nd lower to Ad
higher, London and Antwerp unchanged,
Berlin &c higher, Budapest 1kc higher,
Paris wheat unchanged to 15 centimes
lower, flour unchanged.
Chicago-The report from ST. Louis that
contract stocks are less than 1000, ,0OO
ago, with no chance for an increase, and
advices from Kansas City that supplies of
contract grade there are hardly 100, 000
bushels, called attention anew to the light
contract stocks here, little over LOCO, ,000
bushels to meet concentrated May
holding. estimated at 10000, 900 bushels
and gave more encouragement to buyers
London-No cargoes of wheat have ar
rived off coast as compared with none
Saturday. One cargo is waiting at port
OF call and offered for sale compared
with two SATURDAY.