The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-29
Lack of Direct Influences in Wheat
" Turns Interest Towards the Is.
"a Situation in Corn.
The Monday Statistical Changes
About as Expected, the Visible
- Gaining $4,000 Blu.
Receipts Not Especially Heavy for
Monday-Forty eight Loads
Sold for Export. -.

Minneapolis Chamher OF Commence, Dec. %
Wheat was nff notch this morning May going
under l5c at the strrt. Nothing important deyel-
Oped over Sunday in wheat proper, and neither
III The weather, the movement foreign advices
sor the regular Monday statistics there
ANYTHING to change sentiment materially. But
corn started in weak AMI wavcrnS and this
brought out enough selling in all the pits to
make weakness general. Corn was especially
weak at the eaboard, New York December
dipping almost &c This revived the old talk
about the difference in point of view between the
scaboard corn exporters and the big financial
interests ON the one hand. and the speculative in
forests in corn in the west. Many corn men
In Chicago assert and good part of the public
believes that May corn will sell away up before
May comes around, for while there is a bountiful
crop 1t is their argument that scarcity of
contract grade will develop later. And many
have sold short the certainty of big crop,
isrs viii be Tild Times in corn , some day. The
that this may all happen, but that it will be
very bad thing for the country if it does hap
pen. and they deprecate all bull talk on corn.
In brief they would like to see the stuff go out.
High corn, they argue would benefit many d.
rectly interested, but would be a bad thing for
the country at large, it would stop exports.
Cheap corn would mean large exports. the can
ceiling of debts abroad, the building up Of foreign
credits, and the assurance Of the maintenance
OF favorable monetary conditions by the pre-
t. Europe. In 1900 exported close to 1oo-
n@.WD hu corn. For 1902 with only one week
remaining, We have exported only little over
tS,"W'Ouo gu. lhlS tremendous uecl1ne must De
made up. There are bulls here and in Chicago
who would like to corn Soc, and they may
Win out. but they will have to do 1t without the
support of the eastern bankers and exporters
who would raj Their see it '5c. This is an impor
1Ant matter to wheat traders as we'll, since the
wheat market, at present devoid of important
new factors Of direct influence would probably
follow any decided turn either way in corn.
Minneapolis received 500 against S37 last
year. and Duluth 10 against 1rS At primary
points total receipts were 1o66.ooo bu against
j 800 900 hu. and shipments $4,000 bu aginst
$4,000. The visible increased by S62 600 bu,
bringing the present total up to 49,67S. 900 bu.
Worlds shipments We're 6.440.OoO bu aEinst
900 last week and 6,O12,OOO year ago.
Americas lHrt was 1860 900 bu; Russia shipped
9. 224 900: tie Danubian shipments fell of about
ms expected. showing only 5000 bu. Argentine
shipped $1,000 bu and India 2SS0OO bu. The
quantity passage decreased by 2.303.oO0 bu.
The final report of the agricultural depart
will give the totals on all grains for the crop
Of 1902
Liverpool closed 1ad lower
Wheat and flour cearances were j7S, 900 bu
New York had good export business In wheat
and reported 81 loads taken in the early bust
Before the close New York raised the esti-
Of the days oresn fo sass to - oad M
15l2c and December at 1890.
The cash market was less active than WOULD
have been supposed fn m the fact that 30? cars
Of wheat in, for the reason that consid-
the bulk taken up satisfactorily, going prin-
cipally to elevators. No. l northern was the
merest fraction lower than on Saturday. selling
In part ut &c under May, but takn.: the market
right through there was scarcely any noticeable
change. No. ] northern brought "a 1ac and zoe
7 .akc sn" the great bulk going at 7sc The low
grades fairly active.