The Minneapolis journal., 1902-11-01
December Strikes II 1-8c Selling
Y Caused in Part by Weakness
in Coarse Grains.
The Local Cash Markets Easier
Primary Receipts Larger But
Local Receipts Light.
Local Stocks Increase as Expected
,i Clearances Wheat and Flour
100000 Bu.

q Minneapolis Chamber of Commerce, Nov: l.
Wheat closed to-day at the lowest point or the
week, and was steady Mt II Is @7l1ic for Decem
ber, after a session marked by no speculative
feature OF Importance beyond continuation Oh
the liquidating tendency that started ON Wednes
day. In Chicago the coarse grains were lower,
which had effect upon wheat The weatner was
hardly so favorable could be w1shed put the
news In the main was moderately bearlsh, rather
than stimulating. Liverpool closed 1sa loWer
and the foreign tone was dull and easy through
out. The fact that local stocks Increased by
COS, 1924 bu, making the present Minneapolis to-
tai iii store 3,057 ,133 bu. was taken as moder-
ately bearish by the Chicago crowd, pus there
effect here since the increase was no more
than was foreshadowed early In the week. st.
Louis private and public elevators have regent
ly been increasing little. that market now
holding about 5000,O00 bu In store ana since
there only 3,5oO.Oo0 bu there on Noy.
last year, the bears brought this our TOT ehect
In view Of what the Modern Miller said yester-
day about the probability Of heavy winter wheat
receipts next week it was certainly bearish. For
all this, the northwestern movement to-oa!
showed up only IT cars more than last year,
argued, however. that this only means still
heavier receipts Monday. Minneapolis had
only 500 cars, against '606 lust year, but Duluth
had 81. against 291. One cause Of the weakness
here was the lack of strength In the cash mar
ket, not in wheat only. but in all cash stun.
One STRENGTHENING item was shown In clear
1896, 900 bu against 100000 bu, and ship
ments 72S,Ou0 bu against 3s4, 900 bu.
Broomhall cabed: Moderate realizing caused
wheat to open sd lower this morning. During
the remainder Of the session it was characterized
by, dullness, and at the close prices were un
changed from the opening. Corn opened hsc
lower and further declined 1sd in sympathy with
American markets yesterday. A steadicr under
tcne developed on a better spot demand anc
covering by shorts. Broomhall estimates the
worlds shipments for Monday next will be abou
900 bu, of which quantity Europe vii
take about IL .2OU,O 900 bu He predicts that there
will possibly be some decrease III the quantity o
breadstuffs passage.
The cash market was not so satisfactory as o.
late and this was the first really poor day sell
ers have had for time. Buyers fought
little shy of the Omaha wheat from the south
west, much of 1t was hardly up TO scratch
Still at the close the market was fairly vel
cleaned up and the quantity carried over t
Monday, not 80 heavy as was thought would b.
the case earlier in the session No I northern
sold at 78@73%c, and No. at 71@72c. No
to arrive brought 731sc, and No. to arriv
11A @711ac No. wheat sold from roc t
CSC, and rejected from soc to G5c, no grad
selling fairly we'll and the better lots of n
grade selling from &c to 64c, although som
sround lots of poor stur went at 59M60c.