The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-03-15

Wheat Steadied and Held a Range
Fractionally Higher Than
80 Yesterdays Close.
EXPORT BUSINESS IS PENDINF
Local Decrease of 7SO,241 Bu.-News
and Gossip of the Grain
Trade.

Minneapolis Chamber Of Commerce, March
15.-Wheat held on a range this morning Il
little above yesterdays close, and at noon
the market closed with May fairly steady al
T2ac. 1t was hesitation all morning and
indecision marked the course of the trading
At the close yesterday, with Chicago down &c
747sc. and Minneapolis May having sold to
723ac, there was fear that further liquida-
ton was to be- expected and even those who
thought the market a good buy for reaction
would not take hold yesterday, preferring to
wait until the liquidation has fully spent it
self. But the turn in the weather over night
brought firm opening this, morning and
liquidation was checked, Minneapolis May
opened at 73c. Here the traders found it
hard to decide whether to take hold or not
and the session dragged to a close without
much activity shown. The weather is very
unsettled and the prediction is for colo
wave over Sunday. There is no prediction
that It will extend far southwark. Should
there be a very cold period over winter whea.
following tho recent moisture there might
be legitimate ground for, fear, but this is a
possibility only the weather prediction
and not a strong probability. Winnipeg re-
ported a blizzard. The weather map shows
low temperatures in the extreme north, but
the temperatures the west and south
west were moderate.
Broomhall cabled: Influenced by the de-
cline in American markets yesterday wheat
opened A@Sd lower this morning, but later
in the session steadied on weeks end COW
erings. Corn opened I'D higher on shorts
covering and during the morning eased off OF
large firms realizing. Broomhall cables tina.
there Is sharp frost In the south Of Russia.
Liverpool closed 1s9Ad lower. . l.. 49,. :.
Reports as to export business were con-
dicting. Chicago wired that there was 1OO,-
600 bushels hard wheat sold there to go from
Peoria via Newport News. Another dispatch
ao3 oiY1op NJ Dffnr
i've loads abroad on the basis of 75c for Chi
cago May, without effecting sale. It is be-
lieyed that there is considerable export busi-
Meas pending and that on any material break
good deal would be done.
Primary receipts were only 1893 900 bushels
against 6SS, 900 bushels, and shipments were
81, 900 against 800, 900 bushels. The northwest
Is responsible for a good part of the falling
on in total primary receipts. as there were
only 9i cars here to-day, compared with 1888
last year. Duluth had 1877 compared with 3S.
Clearances of wheat and flour equal 1882, 900
bushels. Local stocks decreased by 78O, 241
bushels, making the present total here A.
T21, 1873 bushels. .~ ->..' ID
Minneapolis May closed at 72%c, July TAO
T41sc. September 72Ac. Chicago May closed
at 75Mc.
The cash market was active and showed
on the whole no important changes from
yesterday. No. 1 northern sold at TAG for
spot and at~the same figure to arrive No. 2
northern ranged from 717sc to 72ssc No. 3
wheat brought Tic to 71Ac and there was
good sale for the lower grades.