The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-21
WHEAT SENTIMENT
VERY MUCH MIXED
Weakness in Northwest Mar
kets Caused a Cent Break,
Followed by 1Ac Rally

, CHICAGO, Jan. 20--Improyed export
demand for Canadian wheat and report
ed scarcity of seed wheat in Texas caused
a hrm finish in the wheat market here to-
day At the close May wheat was up
asc: Corn and oats are each up &c. Pro
visions show gain of ~ @l21sc
Wheat
Buoyed up by an unexpectedly firm
market at Liverpool, wheat here opened at
slight gain, May being unchanged to
ihere was fair demand from commission
houses Offerings were rather light. After
May had touched $1.14& @l.14B prices
suddenly started downward and the de-
cline was not checked until May had sold
OIL to $l.131a. The break was due largely
TO the extreme weakness or outSiue mar
kets, prices at st. Louis and Minneapolls
showing sharp loss. Heavy liquidation
by prominent long was reported as the
principal cause of the slump at Minneap-
oils. The poor demand for cash wheat
at all centers, however, was SAID to be
the fundamental reason for the heavy tone
OF the speculative market.
Another influence that contributed to the
WEAKNESS here was the liberal movement eIl
OF wheat from Argentina. shipments for
the week being 1, 600 Blu, compared
with $4,000 blu the previous week. New
eftheless pit sentiment gradually lost
much of it's bearishness. One or two
prominent operators became fairly active
buyers. Many of the smaller traders who
had sold freely on the early weakness
SONCISu their sales anu Hclp0O CAUSE
slow recovery One news item that en-
coufaged the bulls was report from KAN
sas City that Texas farmers were buy
ing seed wheat in that city. canadian
good demand from foreigners for Mani
toba wheat and -four The market as a
result became active and strong. with
Phe n at tha top notch Of the
ClearanceS of wheat and flour were
equal to 22.100 bu. Primary receipts We're
709,60O blu. compared with 803, 400 bu a
year ago. Exports of wheat and flour for
the week, as shown by Bradstreet's. was
equal to ], 139, 600. Minneapolis, Duluth
and Chicago reported receipts of 500 cars.
against 800 cars last week, and 366 cars a
year ago..
Influenced by higher cables the corn
market opened firm with fairly active
business. The break in wheat caused
some recessions in prices, but later all the
loss was regained on active buying by
commission houses. Small acceptances
from the country had bullish effect.
May opened a shade to 1sc higher at 447s
@45c, sold between 445s @45c, and closed
at 44B @45c. Local receipts were 225
cars, with one of contract grade.
Oats
Sentiment in the oat pit was governed
principally by the action of the corn mar
ket. The decline in wheat had de-
pressing influence early in the day, but
prices rallied subsequently IN sympathy
with the firmness of other grains. May
opened shade to &c higher at 31@311sc,
sold between 30A D30hc and -315sc, and
closed at 31@31Ssc. Local receipts were
20 cars.
Provisions
The provisions market was firm Trad
ing was not particularly active, but buy
ing orders were numerous enough to alb
sorb all offerings without the necessity
of any cut in prices At the close May
pork was up 121a @12.75 Lard and ribs
Were each up 21ac at Sc .S71a and Sc. 700
6.7212
Estimated receipts for tomorrow:
Wheat, 33 cars; corn, 319 cars; oats, IL
cars; hogs, Is, 900 head
The leading futures ranged as follows: