The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-10-30
December Breaks to II lac to $3.50,
But Rallies Later, Closing
y the Day at II 3-4c.
The Good Weather, Heavier Re-
ceipts and Easier Cables
Help the Bears.
Millers Still Buying Wheat to Ar
rive-H. V. Jones Estimate
on Farmers Stocks.

MINNEAPOLIS Chamber of Commerce, Oct. 3d.
The bears in wheat having made a little head
way yesterday for the first time In weeks, FOL
lowed I'D their advantage this morning with
renewed pounding on the curb and at the
opening On this there was more long wheat
Jared out, and December opening sc OF At
II rqc. sold to 71A@7lSc. or almost &c under
yesterdays high point Meanwhile some one
short of May got scared, started to bid TOR r
small lot, and as an Illustration OF the genral
nervousness that still governs the short sellers
MAY wns I'D full cent from I2Bc to 731sc In
short order.
Lower cables, good weather in general in the
northwest and increase of $50 cars In north
western receipts the incentives for the early
bcarishness. The primary receipts We're another
weakening element showing an increase or OIL
900 bu, $3.50, 900 bu. against ! ,lo9,o 600 last
year. Scattered showers were shown on the
map over North Dakota and Minnesota. but
this morning the weather was favorable. 1t
Is the talk that next week wheat receipts In
Minneapolis will be heavy, which seems reason
able to expect The sentimental effect, should
this develop, will naturally be bear1sh, but this
will be tempered IN considerable degree by the
fact that there have recently been very heavy
sales of wheat to arrive, and 1t Is probably not
an exnggeration to place the quantity due local
buyers on previous sales to arrive at close to
$500, 900 bu. good part represents purchases
to arrive against sales of -four and suggests that
there will be little hedging against it. 80 that
heavier receipts here will be hardly as hear1sh
as would ordinarily be the
crossing as fast as conditions permit. There is
a disposition to sell at present prices. The quail
ity varies widely. There is much fine as Web as
damaged grain. Wheat Is all and in fine
condition There is some apprehension about
Hessian fly In Indiana. Interior grain movement
active.
In Chicago the bears brought out the labor
trouble In Minneapolis factor, and the
strike of the uaillwriehts given undue i'm
portance. New York had no export inquiry, but
Duluth reported another sale OF 100000 bu. Liv
erpool closed sd higher to I'D lower. Clearances
equaled 800, 600 bu-
The market rallied near the end, December
closing nAc: May, 72M @72Bc.
It reported the close that H. "
Jones had estimate out making the present
marketable stocks in farmers hands rs, 600, O0t
bu and estimating milling requirements at So
600 900, leaving only Is, 900, 900 bu the surplus
for the northwest to carry until Sept. 1, 1903
The cash market less satisfactory to-day
to buyers and sellers. This was through no loss
of interest lack OF demand, but due to thu
fact that receipts In all were the poorest seer
for time. There difficulty in NOV
ing the choice lots, but the poor lots dragged
little all through. No. l. northern sold at thu
fat figure 73c for almost everything in tina
grade No. northern spot sold at TN q
II PC for the average. There demand fo
good milling wheat TO arrive and No. l north
ern sold at 1915 @73c, No. 2 to arrive bringing
7oTs@71c. Spot No. wheat ranged in prize
from Tic to 60Hc. Rejected sold from Tic tt
&c, and no grade covered about the same range