The Saint Paul globe., 1905-02-25
MODERN MILLER IS
SOMEWHAT bULLISH
The Market Opens on Bottom,
Advances a Cent and
Closes Strong

Minneapolis Chamber of Commerce, Feb.
24.-The market today during the early
part of the session was active, but dur
ing the latter part 1T was the same old
dead market, with prices hardly changing.
The opening was weak and lower on lower
Liverpool markets, large Argentine ship
ments and liberal receipts here. The
bears started to hammer the market on
the curb and canaged to force prices down
14c by the time the market opened. The
opening prices were the lowest for the
day A good demand developed shortly
after the opening and took care of all
wheat that was offered. When the sorts
tried to cover they found the market
bare of offerings until call price was
reached, when selling against calls by
holders checked the market for the mo-
ment.
The demand continued good however
and prices soon went through calls for Rc,
with only a fractional setback, the mar
ket closing strong and within 1sc of the
top price for the day for the May option.
The crowd which had been so bearish
the past few days and had been ham
mering the market We're forced to cover
to some extent but the short interest has
been greatly increased by this persistent
selling, although considerable of 1t has
been by elevators, presumably against cash
purchases. The best buying has been by
a couple of prominent houses with East
ern connections. 1t may be that they
week on the advance, or the replacing of
long wheat sold at that time One of the
houses has been prominently identified
with the Wall street elioue ever since
the advance started last fall.
The cash demand is good for No. / and
No. northern, with the lower grades slow
and draggy. MilleTs were not in the mar
ket to any great extent today only one
milling firm doing any buying to amount
TO anything. There was little buying
by outside millers, but elevators and
of the samples offered today
May wheat opened Ac lower at 81 .15,
gradually worked up to 81 .16 reacted to
81 15% and closed at 81. 15%. July wheat
to 81 14A and closed at $1.14. September
wheat opened at 94hc. sold down to 94Ac,
rallied to 94&c and closed at 941k 094Mc.
week s5d o b stocks for the
against 209 a year ago; Duluth %, against
y: Chicago 35 against 25: Kansas city
$4,000 bu, and St. Louis $4,000 blu. Clear
ancess, of wheat and flour 10000 bu, and
Tor the week $4,000. Primary receipts
$4,000 bu. against 44S 600 bu last year.
SHIPMENTS $3.50 bu. against 150,O bu.
argentine e sa, shipments Shd 100000 bu; last
Liverpool wheat closed A@%d lower.
antwerp unchanged. Paris wheat un-
changed: flour unchanged to 25 centimes
higher >'
Modern Miller says: In sections where
the winter wheat crop has emerged from
under its cover of snow and ice reports
L
mas made small growth. but that it is
green and healthy in appearance. There
Is complaint that late sown wheat is not
showing above ground, but there is no
evidence of winter killing as vet
Broomhall-The Argentine wheat mar
kets continue firm under the influence of
a good export demand Arrivals from the
interior are large, with the quality salts
factory. The corn markets now strong
as a result of a good foreign demand ar
rivals at the ports continue light with
the condition giving satisfaction Weather
continues favorable for the corn crop
Liverpool Wheat-Opening quotations
We're Ad lower owing to larger Argentine
shipments than had been expected Later
the market firmed owing to railway
strikes in Southern Russia and further
unfavorable Indian news. the factors
creating better undertone. Prices at
80 p. m. were unchanged from the OPEN
ing. Corn-The market opened unchanged
and later the nearby delivery eased off
1sd due to fair American c. l. f. offerings.
Chicago Cash Business-Millers bought
70 600 bu wheat in all positions in Chicago
Thursday. The demand was scattered
some houses getting no orders Offerings
We're small No. red was 81 20 to 81 21
f. o. b. No. red sold at 81 IA; No. 4 red.
sac to 81 10; No. 3 hard, 81 16; No 2 hard
4c under May in store and 81 II to 81 10
+. o. b.; No. hard, 81 IS: No 4 sprjng
81 O3 to 81 OF; No. g. 81. 10 to $114
st. Louis said there was a fair milling
demand, with No. 2 red at 81 II to 81 1917
+. o. b, In Kansas City No hard brought
81. 09k to Sill.
Corn was in active request and advanc-
ed Ac.to &c. Sales for shipments and