The Saint Paul globe., 1905-01-17
OPENING FIRM,
CLOSES WEAK
Liberal Receipts and Only Fair
Cash Demand Too Much
for the Longs

Minneapolis Chamber of Commerce, Jan.
16.-The frmer Liverpool market was
more than offset nv the liberality of the
days receipts and generally slow char
acter of the cash demand. The world S
shipments We're about 1,000, 600 bu under
the estimated requirements of Europe:
and foreign markets were in nearly all
gases strong and higher, but the fact Is
that foreign markets are so much out OF
line with American markets that it mad
practically no effect on our markets. The
fair sized decrease in the visible supply
had but a momentary effect on prices,
soon giving way to the hammering tac-
tics of the bears who whenever they dis
covered that buying orders were lacking
would jump in and sell the market down,
bringing out long wheat on stop-loss or
deTS
The market opened a trife firnfer On a
little short covering and "a few buying
orders from commission houses, this
causing the market to rally slightly from
the opening figure. As soon as this de-
mand was filled prices began to sag and
then the bears got in their work of ham
mering, the market gradually being forced
lower. Up to the noon hour prices held
fairly steady at about 1Sc under opening
prices, but later the lack of buying power
to absorb the offerings was seriously
bottom price for the day. Trade was
mainly of a professional character, with
the scalping element doing the bulk of
the business The bears have been some
and will probably force their hands on the
market tomorrow, unless the larger oper-
ators come to the help of prices:
The Kansas City Star says that wheat
in farmers hands in Kansas is II, 100000,
Nebraska 100000 and 10000 in Okla
homa, total of 20,500,000 bu, against
Sa;5eo, a.; ooQ bu ~ % year g ago The world s
1,232,00O bu, last week 7,736,000, last year
b.344,000 bu. Wheat on ocean passage de-
creased $4,000 bu The visible supply of
~rrl,0 sod fral \
100000 bu and oats decreased 902, 900 bu.
Ciearances of wheat and flour, $4,000 bu.
Primary receipts, $4,000 bu, against $780,
600 bu year ago.
May wheat opened at $1.17M al. .174l
sold at 81. .17as, reacted to 81. .16as, rallied
to s. 16a4. broke to and closed at 81 15ss a
/. .15&. July wheat opened at 81. 141s.
down to 81 .13. where 1t closed.
Minneapolis stocks decreased $4,000 bu
for two days. Receipts here, sos cars,
against 461; Duluth, %. against S5: Chi
cago 19. against 39 Kansas City, SO, and
st. Louis 104, 900 bu
Liverpool wheat closed 1sd higher Lon
don I'd higher, Berlin and Antwerp un-
changed Budapest sc higher, Paris wheat
and flour 10@15 centimes higher.
A City of Mexico dispatch says that
Mexico is facing a scarcity of wheat and
flour in that country on account of the
crop harvested being insufficient to sup
ply the demand. The price is advancing
steadily, practically all of the wheat of
the e-repuDllc Is In Ine nanQS OF mllerS, and
stocks are only sufficient to keep the
plants in operation to the end of this
month. 1t suggests that the only way
out is to admit American wheat free of
duty, and that some action may be taken
along this line very soon.
The Kansas City Star says: Replies to
1900 Inquiries addressed to grain dealers
and millers in Kansas, Nebraska and
Oklahoma indicate that the stocks of
wheat in elevators in Kansas City terri
tory are about 100000 bu, or 100000 bu
less than a year ago. The estimated
amounts in farmers hands are: Kansas,
II, O00, 900; Nebraska. 5000, 600; Oklahoma
and Indian territory. 100000 Total, 20,-
100000 bH. compared with S4,000,0 900 bu a
year ago.
Broomhall-Quantity of breadstuffs in
passage to the United Kingdom. 22.2SS 600
bu, and to the continent S,616,OOO bu,
showing an increase to the former of
l.00S,0 600 and a decrease to the latter of
l.064 900. making a total net decrease of
$4,000 bu
Corn on passage to the United King
dom 7,24l,000 and to the continent 49,
5SS 200 bu, showing increase to the former
OF 41S.000 bu and to the latter of 966, 600
bu; total increase, 1856, 900 bu
Liverpool Wheat-The opening was in
active and unchanged, but later better
tone prevailed and net gains of I'D and
sd We're made, the factors being very
cold weather in England with a good spot
demand. Cern-After opening unchanged
January gained sd and March I'D on coy-
ering by shorts owing to firmer American
offerings
Weather Map-Clear weather every
where with a general moderation in tenn
perature. There is no precipitation re-
corded past twenty-four hours In ex-
treme north and northwest it is generally