The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-09
A Flood of Bullish Gossip Comes
Pouring In From Every Point
of the Compass.
Northwestern Receipts Decrease SO
Per Cent-Liverpool Firm III.
Chicago Corn Up.
st. Louis and San Francisco Bullish,
and New York Sold 100
" Loads for Export. =

Minneapolis Chamber of Commerce., Dec. o.
Both York ana The northwest were strong
ana higher wheat to-day, and with Mlnneupo-
his senulng bulllsh gossip into Chicago from Tue
one euu amt New YORK rom the other, ana
heavy buying OF corn i'll Chicago, the bears IN
that market ceased Ineir efforts 10 hammer down
ton higher at disc Tor May and a gain to
1886. The falling off in receipts IN the north
west was the incentive OF the strength here
Minneapolis had 33i cars, against 800 last year
which not bad, although showing drop
OF 5S cars; but In Duluth the posted receipts
which covered two days, showed only 2lo cars
against IA for the corresponding two days last
year. so that the northwest had in all 552 cars,
against l.119 last year. falling on OF o0' cars
or a decrease of 50.I per cent. This was enough
to start IL little buying i'll the local pit ana
with all things apparently turning against them
for the time it looked after the first half hour
as if an uuturn of another fraction would start
the shorts covering and bring quick advance.
The pit was very nervous
In New York the strength came from the con.
tinued inquiry from abroad for good wheat NOT
only New York. but all the export markets report
ed inquiry and. while the early reports brought
of only moderate. quantities worked, theTe
said to be many trades pending at only
start. and ga go up at the close. me corn COZ,
market was active and excited. one large Chi
cago house bidding for May in lots of 2oo'9oo
In. and Armour reported buying, one dis
patch making the quantity Of corn bought sup
posedly for Armour over 1000, 600 bu. st. Louis
was buyer of May wheat and May corn. Broom
hall cabled that the tone there Is very hrm on
the cold weather in England and the fact that
receipts of wheat at Liverpool for three days
were extremely light. amounting to only lb2. 900
bu. OF this quantity, 100000 bu was Ameri-
can wheat.
With the northwest. the seaboard and the for
eign markets firm, it needed only the PACING
coast To complete the bull circuit, and Dull
message from that end came along toward noon.
San francisco wired that the posting OF the
figures showing stocks Of wheat and flour on
the coast caused an increased bull feeling as the
total is equal to only 321 900 tons, while at this
time year ago the total 621 900 tons.
At primary points receipts totaled $4,000 bu.
against LOCI 900 bu last year, and shipments
900. 900 bu, against 1911 900 bu. Bradstreet's
report of the visible makes an increase OF
064 900 bu in the quantity east of the Rockies
and an increase Of 500 900 bu In the quantity IL
Europe and ahoat. a total gain of 1854 900 bu.
This was about what had been expected
Near the close tn, report came from New
York that the export business for the day wa:
-pnning very heavy. Seventy-siX loads were re
ported sold at first. Later reports made 1t 10
If all the trades pending We're. finally closed t,t
business would be in the neighborhood of la
loads or approximately 100000 bushels
yesterdays close at 73asc Minneapolis Decem
Der sold to 734c. closing at high point. MAY
sold to 75Ace and closed at at ~. LAS @15Ac
Good demand ruled for cash wheat; seller
millers were after the good wheat yet thu
premium was no hrmer. In fact. the basis TO
May, while the May figure the price yes
terday. There was another good demand TO
wheat to-arrive, tie No. to arrive going a
"a i q a &c. and the No TO arrive at I2@
13c. Most of the cash stuff sold early and henc
the rise of the option to high point found tn
TABLES nbo" ea ar up and very few lots share
the lower grades we'll taken.