The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-10-31
But Prices in All Markets Are Stub
born Against the Heavy !
Liquidation.
December Closes Only 1-8c lido
Lower Than Yesterday Recov-
ering Near the End.
Heavier Primary Receipts Help the
Bears, but Local Sentiment
Remains Firm.

MINNEAPOLIS Chamber Of Commerce, Oct 81
Wheat halted and hesitated this morning and
Minneapolis December stuck for two hours around
the re level, selling to 121s @I2t4c down to
ike, and back to TIE. None Of the big traders
were active, the smaller crowd did little ana III
the local pit there was activity by turns but
moderate trading Oh the whole. chicago was the
weak center and tue holding back there, some
thing OF Hquldutio developed in n small way In
the outside markets. What strength there was
in Chicago came, the gossip said, from the hrnl-
ness In the northwest, aud the Chicago crowd
were reported watching the Minneapolis and Du-
luth fluctuations with more than the usual In
terest. One big Chicago trader who sold 3oo,0 900
bu May yesterday ut 1885, bought II PACK tnls
morning around 74&c, but after this buying had
subsidized there was lack Of good support. The
Chicago crowd tried to make something lnpor-
tant of the 2O5,UO bu received there from Du
luth. this making 315, 900 blu so far this week,
said foreshadow 1000, 600 blu or more yet
to como. This given bearish colorlng at
first, but since 1t comes out OF public STOCKS III
Duluth, and goes into private elevators In Chi
cago the effect in It's statistical bearing is ia
vorable--at least the bulls were disposed to take
The foreign markets were dull the cables
bearing the same reports Of prices only frac-
tionally changed Liverpool Va up at the close.
This steadiness abroad encouraging, how
ever, to holders, since while 1t is true that
Liverpool has not followed promptly on our
advances, neither does 1T sell of materially on
our weaker turns. London had some more Ar
gentine reports. The weather Is said to be about
nil that could be desired. Argentine HIS uloppeu
out as shipper, sending out no wheat this week
and nothing In the previous week.
Eight hundred and ffty-nine cars OF wheat
came in northwestern markets, this making a
gain Of 100 cars over the 800 received on the
corresponding day last year. Duluth made the
gain, with 312 again SO last year, but
Minneapolis had less wheat than last year, or
DAT against eO4.
Local stocks will increase approximately
500 900 bu this week, which will bring the
total to about 5000, 900 bu.
Primary receipts 1,111,0O0 bu against
lisa 900 Blu. and shipments 415.ooo bu against
Ill 900 bU.
The Modern Miller says the winter wheat con-
tinues to move freely. The largest proportion Is
Of. the soft variety. The offerings of this are
the largest ever known at this season OF the
year. The scarcity Of cars interferes with the
movement. Stocks at country points are so
large, continuance of the unprecedented re-
ceipts at accumuative centers is promised for
some time. Offerings Of hard winter wheat have
fallen Off. Crop prospects excellent. Favorable
weather continues
Clearances were se1 900 bu for the day and for
the week 5,99s. 900 hu against 7.06O,OOO last
week and 9, e73.000 last year. Chicago stood
against heavy selling pressure and a late dis
patch said 1t suspected part or the long
wheat held by Potter had been sold out and that
1000. 900 bu to-day. Minneapolis December broke
to INC. but rallied and at the close was only
&c to Ac under yesterday ssts at 71h@71ssc- May
Wheat to arrive was in good demand, inquiry
coming from millers and elevators. There was
not so much sold sellers were not Offering so
freely to arrive. No northern sold at III q
average. The spot No. went at 73h@73&c.
the choice lots going ut 74c and higher. No =
sold from tic to 72Bc for the average and AZ
high 3c for choice No. whsot solo from
n grade.