The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-02-01

Lack Of Speculative Interest and
Poor Export Business Are
Features.
HEAVY AUSTRALIAN SHIPMENTS
Local Stocks Decrease 6OS,67O Blu.
for the Week-News OF
Quiet Session.

Minneapolis Chamber of Commerce. Feb. l..
Wheat closed a shade firmer to-day after a
quiet and uninteresting session. There was
a decided tendency to sell at the start. and
after opening at 74asc, May sold down
to 74@743sc. draggy period followed with
enough short covering at the close to run
May back to 7414c. Receipts continue light
There was decrease in local stocks. Liver
pool was steady against our decline OF yes
terday, coming only Esd off. These gave the
opening hrmness. But there was a lack or
speculative interest and the telegraphic news
showed no Improvement in the export de-
mand. The same items of the cheaper Mani
toba wheat pressing the seaboard cash mar
kets that were Of weakening effect yesterday
We're seen again to-day. The weather map
shows continued cold in extreme north, and
the northwest generally clear. In the west
and southwest SHOWS were reported at some
points and cloudy at others. Temperatures
ranged in the west from below zero to ii
above and in the southwest from 16 to 26
above. Broomhall cabled, Liverpool opened
inactive and unchanged this morning, the
main factor being the advance in ocean
frelghts Later In the session a decline OF 1sd
took place owing to the increase in the Liver
pool monthly stocks, and the large Australian
shipments. Corn opened quiet and va lower
but later stsadied 7sd on the forecast OF
small corn shipments during the past week.
Broomhall Cabled later that arrivals Of
breadstuffs into the United Kingdom during
the past week We're about 100000 bushels
compared with similar quantity the previ-
GUS week and 900 the corresponding week
a year ago. Australian shipments this week
have been very heavy, running to 1,072, 600
bushels, against GIG, 900 bushels last week, and
2I2, 900 bushels year ago. Export purchases
OF grain at the seaboard yesterday were S.
900 bushels Manitoba wheat Loerke con-
firms loads. Duluth No. 1 northern for
shipment at CEening Of navigation is offered
at INC over Chicago May, C. l. f. Buffalo, and
Manitoba No. l northern is offered at May
price c. t. f. Buffalo. These are much cheaper
than Chicago No. 1 northern.
Bradstreet reports the exports from July /
to date at 166, $4,000 bushels, compared with
1857, 900 bushels in the same period a year
ago. 2.
Primary receipts were 100000 bushels,
and Shipments 20S, 900 bushels. There was
holiday last year. Wheat and Hour clear
ances $500 bushels. Minneapolis received
zo2 cars against 304. and Duluth 1913 against
e last year. Local stocks decreased by 50S,-
go bushels, making the present total here
16,912, 51S bushels
The cash market was active and firm Re-
ceipts were again light and prices firm. No.
L northern sold at full May prices, and
some good No. in desirable cars went at nc
over. The same discrimination was felt
against lots in Great Northern cars I'M
available for immediate reloadng. No. 2
northern sold at lie under for the average
The extreme range on this grade was 711sc to
I2Ac. No. wheat sold from 711sc to 72Lc
Rejected ranged from 6712c to roc, while 20
grade sold down to 65c for some and at
&c for other lots.