The Saint Paul globe., 1905-02-24
CROWD bEAR|SH AND
HAMMERINC 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 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-
tinued pressure of wheat on the market
kept the market on the toboggan. The
decline was not very much, the range
Being but 5sc 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 ii to
discourage any attempts to advance
Trade was light and the market without
feature. Private wire houses had consid-
cradle trouble with the wire service today
ana the gossip was very meager The
statistical news was bearish outside of the
Liverpool cables, There were liberal re-
celpts here and the cash demand was poor
except for No. 1 and No. northern.
hlIlerS 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 under May. with the bulk going at
~ @3c under. No wheat was slow un-
less 1t was choice, and the same could be
sad OF No. wheat. Reports from the
winter wheat belt were snow has disap-
peared from the ground and show the
plant Is very promising and greatly en-
couraged the bears especially in the de-
ferred options. The bears are very timid
about attacking the May option. it being
a little too congested and dangerous for
mem them to go on the short side of that fu-
fure, except for a small scalp. and it does
not take much to make them run to
cover. New York reports seven loads of
Manitoba Man tD wheat sold for export at 1%c
May wheat opened off 1sc at s115&,
SOLD sold, at S116% OILS. dropped to s1.15@
11Sbs niS% nesd and closed at s15B July opened
proved TO be the top price for the day; on
me break 1t sold to $1.131a and closed at
SlI37S The trading in September was
s43zc and closed at 944a @945sc.
minneapolis stocks show a decrease of
$4,000 bu for five days. Receipts, 459
against 1874 one day year ago; Chicago
sas City, $4,000 bu, and St. Louis 81 900
ago Clearances of wheat and flour
5l7,0OO bu or Primary orh receipts, $4,000 bu
bu against 795. 900 bu Argentine ship
ments estimated at 100000 bu for the
Nv pun wheat CLOSED ~ W rs q n1Rher
Antwerp 5sc higher. Berlin Hc lower
Budapest sc lower. Paris not reported.
4. 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 foothilI districts
the damage will not be as severe as in
the fiat lands where the thermometer
dropped to Is below zero. Many farmers
are obliged to reseed 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
movement. Packing, 505 600 against
100000 hogs last year
Liverpool-Wheat-Op prices were
unchanged from Tuesdays close but
later advanced q @%d being influenced
by several cables from Kurrachi India
stating that the weather is cold and wet
with prospects less favorable to very bad
mhe 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
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
efaliy cloudy everywhere. In extreme
North and Northwest 1t is generally
orally cloudy, except in North Dakota, "a