The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-08
FARMERS RESERVES
ESTIMATED AT 22%
Or About 100000 Bushels
of the 1904 Crop Still i'm
Farmers Hands

Minneapolis Chamber of Commerce,
March Liverpool cables showed an I'M
expected decline this morning being sur
prislngly weak. There were most glow
ing reports as to the condition of winter
wheat, exemplifed by the March report
of Kentucky showing the. condition to be
u, against 64 a year ago. w. b. Snow
came out with his report as to the amount
OF wheat in farmers hands on March /,
making showing of 10000 600. or about
% per cent This report includes the
seed wheat on hand for the spring crop,
which is about 25.OOO.O00 bushels The
report was about 20, 600, 600 more than ex-
pected by the trade and is what broke
the camels back during the latter part of
the session, the crowd without exception
turning sellers and hammering the market
to a standstill Since this report was is
sued the pit element is more pronouncedly
bearish than ever.
The bears started their campaign on
the curb forcing May down to $1.13 by
the time of the opening. This is &c lower
than the close of the previous day. lit
tie covering by shorts and some buying
against puts on the weak opening carried
prices back fractionally, but the bears
were on their mettle and went after the
bulls again, their persistent selling soon
filling what demand there was. AS soon
as this support was withdrawn prices
sagged downward until the issue of Shows
report turned prices downward rapidly a
break of cents from the high point on
shorts started to cover some of their short
wheat. the market rallying quickly &c to
SLIP, and closing weak and rs @1Ac
lower than on Monday.
Trade was very active during the great
er part of the day.. especially so during the
last hour, price changes following each
was much better today. all classes of buy
ers being in the market and samples were
reported to be after elevator wheat, and
while no sales could be traced the bids
were very close to the market and I'M
doubleday some sales We're made. Prices
strong
No. l northern closing &c over the May
option and the other grades well up.
May wheat opened at $113, rallied to
$1.13i4 @1:13ss, broke down to $1.119s. raj
lied to Slip, and closed at $1117s @1.12
July opened at S1.1OA @1.102s, sold up to
$1.09R September opened at 92Ac sold
at 92%c, broke to 91A @91&sc, closing at
91Ac.
900 blu for three days. Receipts 255
cars, against 1S9 year ago; Duluth, Is
against II; Chicago. "a against Sc; Kansas
City 149 and ST Louis 1900 bu; Clear
ances of wheat and flour, $4,000 blu. Pri-
mary receipts, 100000 blu, against Gal 900
ba a. wear lar o ago l.; Shipments 100000 bu
Liverpool closed k@1d lower; Berlin
and Budapest &c lower; Antwerp not
reported Paris holiday.
mary: United Kingdom--Crop conditions
continue most fayorable France, Ger
many. Hungary-The recent weather has
generally favorable. Roumania-An of
fetal report states that crop prospects
are very. satisfactory. Thawing weather
crop is in excellent condition. Russia
No change has occurred from the previous
satisfactory crop outlook. Italy, North
Africa-Crop reports are satisfactory
? SpaiR-There are some complaints of dam
age
unchanged, as a result of the steadiness
In. American markets yesterday after
noon. but later a sharp break of SD oc-
Cured, owing to heavy liquidation caused
by the pressure of Argentine cargoes for
sale, cheaper offers of Kurrachee (India)
wheat and the large arrivals at this port
everybody being bearish- Corn-,After op,,
ening unchanged March declined I'D and
May Nd. the factors being the weakness
in wheat and the liberal American pri-
mary receipts.
r wheat to mills were %, 900 blu at Chicago
Monday Some Of the cash men reported
the demand extremely slow. No. 2 red
f. o. b. was l.16 to 81. 1S. There were sales
of 5000 blu No. red at Slip f. o. b. and
car lots sold at $1.10. No. hard sold at
S1.05 to $1.0S; No. hard at LOG to Glib;
No. mixed at $1.06 and No. Colorado
$1121h. Offerings of spring wheat were
light with sales of No. at S1.05 and No.
8 at $1.06 to $1.09. No. hard was diff
than $1.14 in store.
ST. Louis advanced 1c with a better de-
mand at $1.118 for No red in store.
port said over 200 cars were on SALE in
Guiding samples carried over last week
No. hard was $1.05 to $1.06.
Corn was bought in car lots by elevator
interests at kc advance for part of the
offerings. Sales of all grades were 200,-
Geo. Oats gained Hc with sales of So 600
bu for shipment. Seaboard reported 224-
900 bu corn. sold for export.
Weather map this morning is wet one
Rain all over the west and southwest and
raining this morning in Kansas Ohio val
ley and parts of Iowa. Missouri and Okla
homa. There were light SHOWS in Mani
toba, South Dakota and Minnesota Cloudy
everywhere with seasonable temperatures
. In extreme north and northwest it is GEN
orally cloudy, 16 to % above, local SHOWS,
precipitation .01 to .04. Northwest is
cloudy, "a to 80 above, precipitation trace
to OF and showing at Duluth. West and
southwest cloudy.
Forecast: Illinois. Indiana Lower and In
per Michigan. Minnesota Wisconsin. Iowa
Nebraska. KanSas-Rain or snow tonight
and Wednesday, Dakotas fair tonight and
Wednesday. Indications are that precjni-
tation will occur throughout this district
except in extreme northwest tempera ture
will be somewhat lower west of the Mis-
souri, valley tonight and probably in the
balance of the district Wednesday after
noon or night.
closing Cash Grain Prices
No: 1 hard. s1.14%; No. northern.
A.