The Minneapolis journal., 1903-10-10
Local Conditions Warrant It, but 1t
Is Question Whether Other
Markets Will Follow.
Government Report Predicted Show
ers and War Talk Make for
Uncertainty.
Meanwhile Receipts Are Light and
the Demand for Cash Wheat
Good. -

Minneapolis Chamber of Commerce, OCT.
1e.-Wheat closed the day stronger ana
hisher, December at 1850 and May at
7eAc. Strength ruled thru the session.
The cash market was strong ana. actlve
and other markets besides Minneapolis
had good cash demand for wheat. There
was the government report to come out
this afternoon, the war scare in the Wlnu,
the light receipts and the forecast ior
warmer weather and probable showers To-
nigilt to keep the bears quiet, ana not
much pressure was on at any time. There
is bull market on unless all signs lalt.
The government report is expected to pe
bullish and probably reactionary weakness
may follow the receipt Of it, as IS often
fhe case when such an influence Is diS-
counted. There are other factors Whlcn
may turn the market down, and the trad.
ers committed to the bull side We're N
clined to go slow in view of the unusual
degree Of uncertainty at the close OF the
week. Rut unless the foreign figures and
foreign reports are bearish on Monday,
advances are likely, for here all IS
strength, and could the local situation
alone control prices would already be
higher. The market has suffered depres-
sion Of late on the foreign outlook, and
;1ustly so, for with Russia and the Danube
shipping freely, India coming in every
week with big showing and the new crop
in Argentine doing nicely, it has been
impossible to get Liverpool in line. and
without some response from Liverpool it
Iis usually pretty hard to bull wheat. Now
the trade has gathered the idea that the
figures from this time on will be less de-
PRESSING and that the foreign markets will
turn firmer as soon as shipments from
ether countries fall off, and it has been
assumed that something Of betce. show
iIg in this respect will appear on Monday.
This may be too soon. The ngurcs iOr
foreign ShiDmentS
ard deprcss the market again, and the
b1 II turn NAV be over, but there is no
doubt that the disposition here, based ON
conditions as seen by the local trade, is
to bull the wLeat, and if there is the
least encouragement offered from abroad
higher prices are likely.
Minneapolis elevator stocks increased
3046 bushels for the week, making
total now in store of 039 bushels.
Receipts here to-day, 216 cars, against
464, and in Duluth 297, against 4o9; Chi
cago received 81 cars, against 81; st.
Louis received A, 900 bushels, against 139,-
0O0,. and Kansas City $4,000 bushels,
against $4,000. Primary receipts were
$4,000 bushels. against 1,19S,00O, and ship
ments We're $4,000 bushels, against $685.
900. Wheat and flour clearances, 389, 900
bushels. Chicago reported $50, 900 bushels
of No. red sold late yesterday, of which
$4,000 bushels was thought to be for St.
Louis
The weather map was a favorable one,
with the only rain in Montana and the far
\ northwest; elsewhere generally clear with
rising temperatures. North Dakota, Sc to
so; South Dakota SO to 54; Minnesota, 42
to so; Nebraska, lS to SO; Iowa,+44 to 4S;
Kansas. As to SO; Missouri. a. to 46; IL
linois. 40 to so. Frosts general in the
Ohio valley. With this, however, there
was the forecast for showers tonight in
Minnesota. (-:
Liverpool closed SD higher, Paris 5@40
centmes higher.
Broomhall cabled: Arrivals of bread
stuffs into the United Kingdom during the
past week, about 4,S0OOOO bushels, com
pared with $500, 900 bushels the previous
week and 3.S00,000 bushels the correspond
Ing week last year. Wheat opened firm
and 1sd higher and later advanced ia on
covering by scared shorts, owing to the
critical situation in the far east between
Russia and Japan. Corn opened weak and
unchanged to 1sd lower, but during the
morning a better demand for corn on
spot and the forecast of small American
shipments to Liverpool caused an ad-
vance of sd and Ad
The cash market was firm and active
from the start. Miers were after the
good wheat and paid S1% c to SIC for No
l northern and 7Shc to SOC for No. 2
There was good demand for any whea,
available for milling purposes