The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-25
The Bears Get December Down to
75c at Last, but It Jumps
Back to 761ac.
Reports Not All Verified, but No
Doubt Exists That Europe
Is Buying.
The Bears Still Have Their Old Ar
guments, but the Bulls Are
Taking Heart.

Minneapolis Chamber Of Commerce, Sept. %
The best news the wheat bulls have heard in
long time this morning In the form OF re-
ness reported could not be verified. There was
disposition to question the figures for the gulf
ports were said to have worked 2560OO Du,
New York 296, 900 and Duluth 1000 bu. This
made total of 1882, 600 blu. and was certainly
total not to be passed over without serious at
tention. If that much wheat was sold abroad.
then the old and effective bear argument that
American markets are above business basis
no longer holds good, and the biggest bear card
has been played. The figures looked too large,
however. and the bears hesitated to act upon
them, but later Duluth confirmed her share
of the total in good part and New York ad-
mitted that considerable waiting business was
uncovered on the break of yesterday. This was
sufficient to start the more timid bears, and
vancng full cent to 76Ac, and May selling up
n cent to 7Sbc. September sold from 81 hc to
size
The old bear arguments remained, but they
were less effective The strike Is on, but some
of the mills grinding and 1t Is now thought
to be unlikely that all of them will cease oper-
has spent itself for the present OF course, If
there is to be prolonged period of idleness,
that Is another proposition but the effect coming
direct from the announcement Of the trouble and
the beginning of the strike has been discounted
in full The bears still point to the good weather
but this morning the bulls found grain of en-
enlargement in the weather prediction, which
was for possible showers Saturday. Local
stocks, however are gaining rapidly, and $4,000
pu ID tue cstiludte VI Inc luCEedSe " tHlS HOrH-
ing.
Minneapolis received 37S cars against 421, and
Duluth 1914 against $50. Chicago had es against
IA last year. Kansas City 142 against 1853 and
st. Louis $4,000 blu against $4,000 blu. Primary
points received 924 900 blu against 1874, 0OO and
shipped 5O7, 900 bu against 900 bu. Wheat
and flour clearances equaled $50, 900 blu.
Liverpool was of as@%d, and Paris tribe
frner Broomhall says the hot weather in
Argentine has given way to COOL refreshing
rains, making the outlook very favorable The
foreign tone remains dull and weak. Odessa
wheat stocks increasing and now total $780,
600 bu ns..,' ...,...,.,. y....,.ss9
Duluth reported ten loads sold to-day for ex-
port.
The Modern Miller says The seeding Of winter
wheat Is making seasOnable progress the only
delay being in scattered sections where there
is lack Of moisture or too much rainfall. The
movement of wheat to market Is up to the aver
age for the of the year, but consists
largely of the hard winter variety Of the south
west and Nebraska. There Is 80 little soft wheat
on sale in the principal markets that millers pay
large premiums the December option price
TO obtain supplies. III ~
Toe December wheat was seen, at least the
market sold to within Lie of 1t at 76@75hc.
1t looked for q moment tho the 75c level was
to be broken thru, but the market worked back
to 75%c and held. Shorts became nervous as the
close drew near, and began to cover. and in
twinkling December spurted to 76% @78hc,
closing at 761s @76Ac. May closed at 7sc and
September at sec.
The cash market about the same as yes
terday in tone and sellers found 1t a hard mat
ter to get firm prices and some wheat was unsold
late. No. l northern sold from 81 1c to &c.
No. sold largely at TIC, sagging to THO and
to 79c later for choice lots