The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-09
STRONG OPENING ON
HIGHER LIVERPOOL
Two Cent Break During the
Noon Hour in Sympathy
With Chicago

Minneapolis Chamber of Commerce,
March S.-Liverpool was the reverse of
the day before, coming slightly higher In
the face of a 2 cent break here yesterday.
This caused considerable covering by
shorts on the curb and opened the market
strong and S@kc higher. The demand
seemed to have been well supplied on the
was not difficult to break prices cent
within very few minutes. The sudden
break in the Chicago market was taken
advantage OF by the bears to hammer the
market down. The rally from this point
was almost as sudden as the decline
prices recovering to within a fraction of
before.
Shorts covered very freely on this last
upturn and the market was active, but
was no comparison to the activity dis
played shortly after the noon hour and up
to the close. The Chicago market went
an TO pieces and our market followed.
Prices went down with scarcely a stop for
Two full cents and closed at practically
the bottom price for the day. Commission
men had to stop loss orders, which they
found great difficulty in filling at the fig
ures wanted, the market breaking so rap
IDLY that some of the sales were 1s6hc
below the figures where the wheat was
ordered sold. there being practically no
demand on the way. All the brokers could
90 was to offer the wheat until. they
found a buyer.
and the cash demand excellent, with local
and interior millers and elevators after the
samples. Prices We're strong, most of the
samples being sold during the early part
of the session. Wheat is not accumulat-
ing here very fast PAP cars were loaded
out of elevators yesterday. Shipments
flour, and with decreasing stocks. millers
will have to come to the terminal eleva-
tors for their stocks for grinding. Reports
from the southwest are most glowing.
everything coming ne
TWO days being extremely beariSh. A cor
rection was made today in the report of
the Kentucky condition for March 1. 1t
should have read So per cent instead of 81.
BIadStreets report was bullish. but could
not stop the decline, traders losing sight
of all the bullish factors in their haste to
dump their wheat regardless of price re-
ceived.
May wheat opened as@Ac higher at
sd1 z f,,f dropped to sl1las glib rallied
s1.Os9s. dropped to s1.0S1s. rallied to
$I;o9A, broke to sl;o7ss. closing at sI;o7as
dropped to Sic, recovered to 91asc, then
took the toboggan to S8c closing at SSAc.
Minneapolis stocks show an increase of
against 1874 year ago Duluth Is against
73. Chicago 10 against %, Kansas City 81
and st. Louis $1,000 blu. Clearances of
wheat and flour. $4,000 blu. Primary re-
ceipts, 100000 bu against COZ 600 blu a
year ago. Shipments, 100000 blu against
33S. 600 blu.
Bradstreet reported wheat east of the
Rockies decreased 1,542.0O0 blu. Europe
and ,afioat decreased 1900, 900 blu. Total
decrease. $4,000 blu. Corn increased
$4,000 blu. Oats decreased SCI, 900 blu.
The report last week showed an increase
of 900 blu, and for last year decrease
of 429, 600 bu; The worlds visible for
March l.. 175, 755, 600 blu; Feb l., 17s. AIS, 900
blu. and March 1, last year, 1853, 361. 600 Blu.
Liverpool wheat closed unchanged Ber-
lin and Antwerp unchanged. Budapest &C
lower. Paris wheat 56l15 confines higher,
flour 5 centimes lower.
Chicago-Kansas City is sending much
bear news on wheat now. as ii did bullish
news thirty days ago. Wheat was to, be
very scarce by this time. Now Allan Lo-
gan says reports from 900 points in Kan
Sas show II per cent of the wheat crop in
farmers hands and the mills sold one to
two weeks ahead. Flour demand, he
says. is fair. and the condition of the
growing crop is excellent Charles Hoyt.
a cash grain man of Kansas City, just
back from a trip over the state, says the
growing crop is splendid, and that there
is more wheat in country houses than is
generally supposed.
The governments weekly snow report