The Saint Paul globe., 1905-02-24
CROWD BEARISH AND
HAMMER|NC MARKET
BuIIish Reports From India
Boost Liverpool, but
ineffective Here

Mime apolis Chamber of Commerce,
Feb. %. - The Liverpool market came
strong and higher this morning owing to
reports from India of damage to their
growing crop. Our market had a firm
opening, but the atmosphere in the pit
was heavy and bearish sentiment pre-
dominated among the pit traders. Sew
eral times the bulls started to advance
prices. but these advances were short
lived. the demand was limited, and as
soon as buyers were filled up, the con-
tlnued pressure of wheat on the market
kept the market on the toboggan The
decline was not very much, the range
Being but sc for the May option, but it
was enough to increase the bearish ten
dency of traders, and every time the
market began to get its head up, there
would be enough wheat thrown at it to
discourage any attempts TO advance
prices.
Trade was light and the market without
feature: Private wire houses had consid-
cradle trouble with the wire service today
and the gossip was very meager. The
statistical news was bearish outside of the
LlVerpool cables, There were liberal re-
ceipts here and the cash demand was poor
except for No. l and No. 2 northern
MiIlers were in the market for these two
grades and prices were strong the bulk of
No. ! northern sold at May price with
some sales of choice at half a cent over
May. No. northern choice sold as high
as &C unOeT May. with the bulk going at
212 d3c under No. wheat was slow un-
less it was choice, and the same could be
said Of No wheat. Reports from the
winter wheat belt were snow has dsap-
peared from the ground and show the
plant is very promising and greatly en-
couraged the bears. especially in the de-
1erred options. The bears are very timid
about attacking the May option. il being
a little too congested and dangerous for
them to go on the short side of that fu-
ture, except for small scalp. and it does
= fn DlrA
cover. New York reports seven loads of
Manitoba wheat sold for export at Iszc
over Tuesdays price;
May wheat opened off 1sc at s1.15%,
sold at s1.15B @116, dropped to $l.156
LBS and closed at $115A. July opened
unchanged at s1.14% @L14A. which
the break it sold to si.is1k and closed lose at at
$l.l53s The trading in September was
very light. the opening was 94sc, sold at
e412c and closed at 9412 @945sc
Minneapolis stocks show a decrease of
S25,o00 bu for five days. Receipts, 45e
cars, including 4 Canadian, for two days,
ssgainst e. ls4 90 one day a year ago; Chicago,
sas City, $4,000 bu, and ST. Louis 81, 600
D.. All receipts and shipments reported
are FOR two days against one day year
11700O bu. Primary receipts, ISL. 900 bu
against 1,375000 bu. Shipments, 315. 600
bu against 795. 900 bu. Argentine ship
week.
Liverpool wheat closed k@%d higher,
Antwerp. 3sc higher. Berlin &c lower,
Budapest sc lower. Paris not reported.
The Spokane (Wash.) correspondent of
the Grain Dealers Journal reports: The
wheat crop in this vicinity of Walla
Walla has been seriously damaged by the
recent frosts. In the foothill districts
the damage will not be as severe as in
the fiat lands where the thermometer
dropped to 18 below zero. Many farmers
are obliged to re-seed their fields
Price Current says: Where melting of
snow and ice gives exposure to wheat
plant, it appears well and encouraging
General position favorable. Interior
grain offerings generally restricted. Feed
ing demand for corn curtails commercial
100000 hogs last year.
ol-Wheat-Opening prices were
unchanged from Tuesdays close, but
later advanced 3s@%d. being influenced
by several cables from Kurrachi, India.
stating that the weather is cold and wet
with prospects less favorable to very bad
The undertone became very firm. Corn
The market opened unchanged from
Tuesday. but later both deliveries ad-
Nanced 1sd on the firmness of spot corn
and in sympathy with the strength in
wheat
Weather-No precipitation. and there
was none shown on Wednesdays map
Temperatures are higher in Southwest
and extreme Northwest, and are about
unchanged from Tuesday elsewhere. Cen
orally cloudy everywhere. In extreme
North and Northwest it is generally
cloudy. 10 to 46 above. Northwest is gen.
orally cloudy, except in North Dakota, "a