The Saint Paul globe., 1905-01-18
CASH DEMAND
IS VERY SLOW
A Very Quiet and Narrow Mar
ket With Barely Steady
Prices

Minneapolis Chamber of Commerce, Jan.
17.-The market today was rather Weah Sl
and another fraction was Topped on tne
market value of wheat, both options ana
cash stuff. Liverpool markets and other
foreign markets were weak and lower
and gave our market a bad start. Ine
opening being off sc from the previous
closing price, this decline was met with
little covering movement by the weak
kneed shorts which carried prices back
to a fraction above yesterdays close
Renewed selling by the bears, with lit
tie long wheat coming out, broke the
market &c to 81. Is, with &c rally just
Trade has been very light and quiet,
scalpers being satisfied with small prohts:
The bears are. afraid to sell much short
in the face of the 4c decline within
week and the bulls do not care to go
long any more just at present. The tact
that there was no evidence of support to
the market on the weak spots by the large
Eastern holders gave the bears little
courage but not enough to cause them
to hammer the market to any extent,
and they. ran quickly on signs of the mar
of the market is that Minneapolis, Duluth:
Chicago, st. Louis and New York are all
within a very small fraction of each other
on the May option, Minneapolis and Chi
cago closing at the same figure.
The cash demand here was very SLOW
and other markets reported their mar
ketS in the same position. Receipts here
in the Northwest were 5S cars under a
year ago, while at Kansas City and st.
Louis they were 211.000 sbu under year
ago The total primary receipts at all
Western points We're only $4,000 bu,
against S29, 600 bu a year ago. The bears
are using the Canadian crop as bear
could bring. that wheat here for filling
contracts. They evidently do not watch
the receipts at Winnipeg. Today they
were only 5S cars, with 81 of low grade
wheat The crowd is however, bearish
and may cause still further setback be-
fore a good covering movement starts in.
May wheat opened off &c at s1.15A a
and closed at 81. .153s. July opened down
.2sc at 81 .12ss, sold up to 81. 13, reacted
to $l.l2@ and closed at 1l2ss 81 81 .d2&; S&
for three days. Receipts here were 297
cars, including "a Canadian, against 280
a year ago; Duluth 46, against 121; Chi
cago 81; against 6S; Kansas City 142, and
Bradstreet reported wheat east of the
Rockies decreased 1,307,000 bu. Europe
and af1oat decreased 100000 bu. Total
decrease, 3,507, 900. Corn increased 1921
600 bu; oats decreased 1,42S, 900 bu. Clear
ances of wheat and flour, 63, 600 bu. Pri-
mary receipts, 200 bu, against 829, ,000
bu a year ago. Shipments, 22S,000 bu,
against Sal 900 bu.
Liverpool wheat closed I'D lower Lon
( don: Berlin and Antwerp unchanged,
times lower, flour 20@25 centimes lower.
st. Louis-This mornings be-Demo-
crat prints the following special from
i>dHSuS NllS ItcpOrtS from nearly l,UUU-
mills, elevators and stations in Kansas,
Nebraska and Oklahoma show falling
off of 20 per cent in the wheat held by
country mills and country elevators as
compared with a corresponding date a
year ago. At that time the stock on
hand approximated 5000, 600 bu Today
it is about 100000 bu.
Kansas mills seem to have anticipated
the shortage and their stocks are only
about 100000 bu less than at this time in
1904, but these total stocks are sufficient
Tor little oyer months run full time.
The average of reports as to the amount
or the crop left in farmers hands is Is
per cent Nebraska will average probably
25 per cent. 1t is estimated by compari-
son of the figures for 1904 and the present
year that there are 100000 bu less
than last. Kansas City supplies are small
.er than for the year past.
Broomhal-Wheat-Th weakness in
american markets caused an opening de-
cline of SD in each delivery. with fur
ther decline of sd in March, sd in May
and "a in July, owing to cheaper Ar
gentine offerings, the latter giving a weak
steadied sd by delivery later Fair spot
demand Corn-Opening quotations were
IA lower in sympathy with the weakness
IN wheat. Later. however, the March de-
livery steadied sd. owing to a fair spot
demand the nearby delivery remaining
unchanged from the opening.
Cnlcago cash BuSineSS-The trading in
cash wheat in all markets Monday was
limited to car lots and there was very
little call for them. No. 2 red f. O. b.
was 81. l9 to $1.20 for fresh receipts. No
hard 31ac under May in store with 5, coo
bu sold >on private terms and f. o. b. at
Sl-l5 to sl.l7. A car of No. A red brought