The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-25
Wheat Sells Off Early on Heavier
Receipts and Lower For
~ eign Markets.
Big Gain in Worlds Visible and an
Increase of 100000 Blu. in -.
Local Stocks. .~.~7.
but Cash Demand Good and Ex-
porters Sold Some Wheat
to Go to France. -

Minneapolis Chamber Of Commerce. Nov 90
With cables on decline. receipts irly liberal.
lack of support from the Armour interests i'll
Chicago and something of disposition to liqui-
date the part of small holders, the bulls
found it hard to hold the wheat market against
the pressure Of the first hour; December was
of AZ and would not rally. May sold down to
7S1ac and stuck at that figure. There was a
fair trade in the local pit May was weak after
the first break and would not react, but there
was much effort to sell it lower, the local
crowd being inclined to wait for the Bradstreet 8
figures. and to hold of with the expectation that
the dip in New York would land some export
business and bring higher range before the
close. The market dragged for time
In the northwest the receipts were the
over the corresponding day of last year there was
decrease of G2 ears. Minneapolis made gain
with 043 cars. against 465, but Duluth had a
falling OFF, with COS, against 79S, the Duluth
figures covering two days receipts for both this
date and last year. Corn was u weakening in
fuence. the Chicago December option opening
houses through Nebraska were reported to have
increased materially every day since Friday last,
and this was depressing
Midway In the session report came OF the SAFE
of cargo of wheat to France by New York
exporting house. This helped the market Il
trihe. May reacting slightly. but the fact that
1T was Armour who gave out the report
in Chicago dampened 1t little. The specula-
tive crowd was inclined to view 1t rather as a
sale by Armour probably Mt concession, for
the effect upon speculative sentiment rather
than healthy business due to urgent demand
from France. Clearances Of wheat and flour
eQualed 419, 900 bu.
Liverpool closed ss@p1ad lower.
Bradstreet's figures show an increase OF $685.
900 bu in the quantity east of the Rockies. and
an increase of 10000 bu in the quantity aaoat,
a total gain Of Ass. 600 bu.
The primary markets had receipts Of i ,627 900
bushels. against .453 900 bushels. and shipped
6O1, 900 bushels against 6O6, 900 bushels Min
neapolis elevators have been taking IN
considerable wheat for the past few days and
since Saturda, local stocks have increased by
about 500, 00G i'"she1s.
c. F., Lewis Il Co., from Chicago: Cables are
well down both spot and futures. Receipts
are going to show up literally again. Looks as
though with .'rnour support the market would
sink. Impression is his line of May Is a rela
lively small enc.
Chicago to Watson-Armour pumped into the
pit a lot Of December wheat, widening the
spread to &c. I feel quite sure the Armour bull
deal is about Mt an end.
The weather map shows heavy rains In Ohio
valley and raining this morning. Heavy rains
at ST. Louis and Springfield, Mo-; Cairo, Tx. and
Fort Worth. Texas. Light rains Mt Springfield,
ILL.,. and Wichita Kan; SHOWS in the northwest.
Lower temperatures in the southwest.
Near the close the market was stronger ana
74M74hc: December closing 72asc.
The cash market was not materially changed
from yesterday, except that the No. 2 northern
was q trife weaker selling at about the Decem-
Der figure for the bulk No. sold at y al u
over for good part. Elevators We're again BUY
ers. taking good share of all the offerings.
There was demand for No 2 northern to ar,
northern to arrive sold at 73MmI4Ac. No. !!
wheat sold from TIC to 6sc. Rejected sold
from Tic to Csc and grade all the way from
Csc to 5Sc, according to quality and CONDITION.