The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-06

No. ] northern has advanced from dis
count under May at the beginning of the
week to premium of hQ1c over at the
close of business Saturday. No. north
ern Is selling at 212 OSLO under May,
gaainst 312 G4hc at the beginning of the
week. 1t is stated that the amount Of
wheat left In country elevators in the
three states of Minnesota North and
South Dakota will not run over 1000 900
bu. Stocks of wheat at Minneapolis con-
tlnue TO show fair decrease even with
crease crea Tor the past week being close to
2UU,VVQ bu. Contract stocks however
snow an increase of about $1,000 blu for
The following items are clippings ex-
pressing the opinions of prominent oper-
ators In the wheat pit. both here and at
Chicago:
A prominent Minneapolis firm says:
The situation, we think, is very strong
here, and regardless Of any corner or
CLIQUE we believe wheat is worth the
money. and will sell higher than 1t has
at any time on this crop. Reports from
over 200 stations indicate to us that grain
In farmers hands does not exceed over 6
to 10 per cent. The entire Peavy system
OF country elevators have not over $780,
700 bu OF wheat, about as little as they
can carry without shipping bulk-head
cars The Federal Elevator company have
only about 10000 bu OF wheat on their
entlre line, and that is on the road We
mink the receipts will keep up fairly well
Tor the next week or ten days, but do not
eiiSs VIII dNCIdSt over lou per QdV
for the entire month of March. we arc
selling wheat In the country every day.
shipments from here are about 100 cars
per day.
THE Gates deal should be all through
with before the 1st of May; you would
make no mistake to buy our May and sell
yours, for the bottom VIII not fall out
OF our May on May / or May Is. We be-
neVe our market is a purchase against
all other markets
There are some good traders in wheat
oh wrvl.-
what the Gates interests are doing in the
market They say fluctuations of / to 3
Genus day are to be expected in May,
and that they will not be Surprised TO see
many breaks like those of the past three
days. They are to be expected in a bIg
market. The tactics of the bull leaders
nave 6eeh changed and they are scalping
IN IN and out so fast, and doing so much of
II mat brokers who get most of
their orders do not know how the
pull interests stand at the last Of each
Jay. MOST wheat traders are bearish and
sell on all weak spots. Operators are
seiiing wheat short now who We're afraid
10 touch 1t at s1.lS. There has been a
break of cents in two weeks. the tom
price being made two weeks AGO. The
pull clique have a lot of good money
taken on sales of a big line of wheat on
that bulge va
Regarding the report from winnipeg on
manitoba wheat reserves, would can at
tention to the fact that IL Indicates ahont
10 10 per cent OF the crop back In farmers
py the nigh prices being paid for wheat
III the states, which naturally led farm
eTs TO hold back in hopes OF obtaining a
somewhat similar price for their re-
serves.
meeting of the grain committee of
tne chicago board of trade and the chief
ment was held yesterday They decided
upon type samples of No / northern
wheat. There has been so LITTLE M This
. Mmea. Drought here so far on this crop
samples heretofore. Now that there Is a
pLospect OF some coming when nayiga-
lion, ,non opens 1t was necessary to decide
upon standard for guiding the track
inspectors. It was decided to make The
STANDARD test 57h pounds, against IS
pounds last year. 20
chase of some Of the Duluth No north
ern wheat to be brought to Chicago. hut
would give no figures on the quantity. He
"f May wheat In Chicago remains
about at this present figure a great deal
OF this Duluth and Minneapolis No /
n9rInern wheat will be headed this way.
lhere is no other place on earth except
the chicago speculative market for Nav
delivery. where this wheat can be sold
n Il can h be sold here at a profit and de-
nVery pefore May l5 guaranteed II will
cleaning" o
Inquiries are coming in from millers all
over tne country In reference to prices of
contract grade wheat. Most OF them have
been grinding lower grades all season. and
nave little contract wheat on hand The
recent decline in May prices evidently
stimulated the inquiries. The miller has
round that he cannot sell his flour on fhe
basis OF Chicago May delivery prices ana
ne is getting ready to unload his best
Chicago-A prominent trader saws.
win the crop season opening up the
July delivery and also the Sepfember are
attracting great deal of attention. Should
the prospects assume a more favorahle
outlook than they did last fan If will he
olnlcuit matter to maintain the -JuIv
delivery at this level. While the Sentem,,
per may decline in sympathy with fha
other delivery it is in a far safer posi
ton for the bulls than any of the Others
Anything which will affect the July i'm an
enhancement OF values will helm the Sen
temDer. Cash wheat has cot to dran
about q cents in all markets to MAZE
the short sellers position in II correct %
Antwerp is reshipping $4,000 blu of Ore
gon wheat to New York II was said fbet
there was between 10, 600 and 80 600 IN,
winch would clean up the Oregon wheat
anoat there, the balance having gone ouf
OF the original steamer bottoms ana 70
import them into the United States l.
VIII nave to pay duty of 25o. The wheat
tnat is coming can be imported duty free.