The Saint Paul globe., 1905-02-21
LIBERAL RECEIPTS
DAMPEN BULL ARDOR
One and Two Northern I'm Good
Demand, Other Grades Quiet
and Slow

Minneapolis Chamber of Commerce,
Feb. 20.-The market showed considera-
BILE strength in the fore part of the ses-
sion despite the bearish statistical news,
but later became heavy and closed within
a fraction of the lowest point of the
day. There were but two pieces of news
that were bulliSh; this was higher Liver
pool markets due to damage to the wheat
crop of India and fair sized decrease
in the visible supply. On the bear card
were, heavy worlds shipments, big in
crease in wheat on ocean passage, lib
eral receipts here and a rather poor cash
demand. As year ago today was holi-
son on any of the receipts and ship
ments.
Trading has been rather quiet on the
whole in today's wheat pit There were a
few times when the market became
active for a few minutes, but these
spells of activity were few and far be-
tween and did not last long. The bears
started the ball rolling by opening the
market off nc and on some fair selling
orders the market declined a further Nc.
The quick squirt by Chicago caused shorts
TO run to cover and advanced the price
half cent This advance filled all the
demand there was, and when offerings
the wheat. Consequently prices began to
move downward with hardly check un-
til they had reached put price. Buying
against puts checked the decline and
Steadied prices, the market closing barely
steady and at around bottom price.
prominent trader says: People Won
more bullish. they wonder why our visi-
bic is not smaller and why primary re-
ceipts even run half as large as last year.
They seem to forget that we have and
are importing fully 100000 bushels Of
wheat from Oregon and Washington and
something like 090 bushels has also
come from Canada This is all appearing
in our primary receipts all the time we
are exporting nothing and yet, with all
this, we-are decreasing our stocks. The
Oregon wheat is practically done for now
decreasing stock
sensational, as it is still five months to
another crop, and you don't want to for
get that
May wheat opened at $116, sold at
$1.15%, rallied to $1.16A. dropped to
$L15A @L153s and closed at s1.15$s. July
opened at $1.13%, sold at $1.13as, rallied
at $1.135s. September opened at 941sc,
sold at 94hc and closed on bottom at
94c.
Minneapolis stocks decreased 225,OOo bu
for two days. Receipts, 5S7 cars, last
year a holiday, Duluth 33, Chicago IL,
Kansas City So. St. Louis 5000 bu.
Primary receipts 10000 bu, and ship
ments 214,000 blu. The total visible is now
81, ,453, 000 a decrease of 640,000 bu. Corn
decreased 1,656,0O0 bu, and oats decreased
263.000. Worlds shipments, 600 bu;
last week, 9,SSS, 900 bu; last year, 8,7G6,000
bu. Wheat on ocean passage, 39,136,00O
bu. an increase of 2,264 900 bu.
Liverpool wheat closed Ad higher, Ber-
lin hc higher, Budapest &c higher, Ant
werp unchanged, Paris wheat SOLO CEN
times higher.
Broomhall cables: Liverpool : Total
worlds shipments of breadstuffs during
the week, 10,312,000 bu, compared with
9.SSS,0OO bu the previous week, and s.
10000 a year ago. Quantity of bread
stuffs shipped for orders included in the
above, 3,4SS,O00 bu, against 2,96S,000 bu
the previous week, and 2560,000 bu a year
ago. Total wheat taken by continental
countries during the last week, 3,2OS,O
bu, compared with 1853, 600 bu the pre-
vious week, and 3,44S,000 bu year ago.
Quantity of breadstuffs on passage to
United Kingdom, 2S.744,000 bu. and to the
continent 1882, 600 bu, showing increases
TO the former of 1886, 900 and to the lat
ter of 36S,OOO, making a total increase of
2,264.000 bu. Corn on passage to the Nnit-
ed Kingdom, $751; 900 bu and the conti-
nent 11,794, 900 blu, showing increases to
the former of 257 600 bu and to the latter
of 100000 bu. Total increase, 1,217, GOO
bu.
Liverpool-The smaller Russian and In
dian shipments caused steady opening
with prices Ad to SD higher. A fur
ther advance of I'D occurred in the dis
tant months later by the Indian official
crop, but selling by large house checked
opening figures. Corn opening prices were
I'D higher, owing to a large percentage
of the American corn shipments last week
going to the continent. March later gain
ness in the spot market. India-Our
agent at Agra cables that the damage to
the crops is officially estimated as eX-
ceeding so per cent of the united provinces
of Agra and Oudah and in the central
provinces 1t is believed that the use of
the word crops includes wheat. The
provinces mentioned are the first and
third largest growers, raising last year
about 105, 731 900 bushels of wheat.
Chicago Cash Business-Sales of cash
wheat to mills Saturday were 90 900 BUSH
els Prices We're easier, but there was no
pressure to sell. No. red f. o. b. was
S1.2112 to $1.22. No. hard was S117 to