The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-18
With a Regular Bull Market On and
Still Higher Prices Not
Unlikely.
Light Receipts Here and Other Bull
Factors Offset the Argen-
tine News.
Good Buying and Not Very Much
Realizing Shorts Badly
Scared.

Minnea polis Chamber Of Commerce. Nov.
1S.-Wheat was up again this morning and
just under the soc level to IL o'clock.
threatening to so above it on every fresh
squirt of strength. The bulls had the pit
pretty much under control, for there was
practically no short selling, and the realiz-
ing was confined largely to small lot profit
taking. New buying orders We're not
heavy and some commission houses COM
planned of the absence of outside interest
in market more buoyant than for some
time. Fear of manipulation in December,
and gossip from Chicago bears to the
effect that it is a manipulated market
rather than one based on legitimate bull
news may have had some effect towards
keeping out timid buyers. At the same
time the market is not up very much on
the whole and if this Is a bull turn in fact
another advance of a cent two would
not be surprising. AS to the contention
that it is manipula tive market, the bulls
merely pointed to the 1913 cars Of wheat In
here against GIT last year, which is GER
tainly sound bull argument. In Duluth
1856 cars were received against ISL, and in
Chicago 119 against IS, a total for the
three markets Of 6SS against S51, or 213
less than last year. st. Louis had 10000
bu against 105, 900, and Kansas City 167.
600 against 131, 900. The foreign news
brought more bearish report from Argen-
tine, which was interesting because 1t
came in a new way, via Paris. A Paris
grain house in close touch with Buenos
Aires cabled that the Argentine crop is
doing splendtdly, and fully confirmed the
former good report received thru Liverpool
via Chicago. and In direct Argentine Min
neapolis advices Of yesterday. The fact
that Argentine has a crop 40 per
cent larger than last year, close to ma
turity, would now seem to be settled be-
yond dispute.
Minneapolis stocks increased $4,000 bu
no far this week.
Liverpool closed H@Md lower.
A later report showed the receipts here
to be 364 cars and not S33 as at first re-
ported, but there was no beariShness In
this. On the contrary, 1t was shown that
of the 1884 only 20 or about 8 per cent
graded No. l northern. December ran
away from May, and while May stuck at
1890, the December option touched S0Ac.
The weather is clear with nothing more
than traces of precipitation anywhere.
The temperatures are mild winter ones.
&c below in the extreme north and zero
as far south as North Platte, and only
4 above at Dodge, Kan. Chicago shows
II above. The mercury at a. m. was
rs below to 2 above in the extreme
north; below to s above in the Dakotas
and Minnesota, zero to IL above in Ne
braska and Iowa, and 4 to Is above in
Kansas, Missouri, Illinois, Indiana anC
Ohio. The conditions are favorable fol-
the spring wheat movement and also fav-
orable for the curing of corn.
Primary receipts were 1,262.000 bushels
against 1,519,0OO, and shipments were S43..
900 against 1000. Clearances were 170,-
900 bushels.
The market closed very strong. De.
and July at 79%c.
In the cash market there was demand
for wheat to arrive as well as for tbs
spot stuff at good prices.