The Minneapolis journal., 1903-12-02
More Liquidation in All Markets
Bulls Forced Into the Back
ground.
Minneapolis May Sells Off to sol1ac,
December to 7sc and July
Under so1sc.
Armour's Tactics Rather Puzzling
Eighteen Loads Sold for
Export.

Minneapolis Chamber of Commerce, Dec. |
Wheat lost the little rally to 'S1A c
made at the close yesterday and fell back
under sic soon after trading started this
morning. Selling out of long wheat con- |
tinued and with little new business in
hand the surprise was that the market
Gid not go lower even quicker. Around
SO& @807sc considerable support was seen
and the decline was checked. Armour
supported the market in Chicago but not
TO the extent noted yesterday. After ali
hour OF trading the local pit could show no
change of sentiment either way despite
the sagging. The crowd had lost the bull
ish feeling but was by means bearish.
The feeling was that the proper move for
pit man was to buy the wheat, but
whether to buy at once or wait for the
continued small lot selling out to break
the market further was the question, and
Saost of the traders decided to wait.
The bulls got a new line to open up on
y, the winter wheat reports. Yesterday
there was a summary of conditions from
Springfield ILL.,, covering the crop of that
state which could not be pronounced as
very favorable. This morning came the
regular Washington bulletin for Dec. /,
which notes a lack of uniformity in re-
ports concerning winter wheat, finds the
soil too dry in PAGES to give the conditions
most to be desired. and notes the presence
OF hessian fly in some districts. In the
run of foreign news there was nothing of
Importance. Liverpool, still Indifferent to
American price changes and bullish Amer
lean news. opened small fraction lower.
Against advances and against declines
Liverpool stands unchanged with the Eng
1sh trade more intent upon the Favorable
prospect in Argentine than upon anything
America has to show up in the nature Of
prospective shortage here next spring.
Minneapolis received ST. cars against
5s4 and Duluth 1872 against 2S1
Local elevator stocks have Increased by
100000 bu so far this week. ~
Kansas City received 155, 900 bu against
$4,000, and ST. Louis 112,nnO bu against
10000 bu
There is practically no precipitation any
where in the winter wheat, spring wheat
or corn belts There are some SHOWS
shown in the northwest Manitoba. There
are a few very light snow falls in Mis-
souri, Illinois and the Ohio valley. All
those are mere traces. The temperatures
are generally moderate, a little higher
than they have been. Conditions are IA
vorable for the movement but the Decem-
ber official crop and weather bulletin
shows that more moisture is needed in the
winter wheat belt. To-day's map shows
no relief in that particular.
Bradstreets figures for the worlds Wis
fble change, delayed from yesterday, show
an increase of 1,644, 900 bu, of which 744,
600 bu is in the quantity east Of the
afioat.
Liverpool closed 1sd lower
There is some talk from the northwest
of freer offerings. The st. Anthony
Monarch and Great Western elevator com.
panies reported this. The primary re.
ceipts were not reported last year, but they
were abbout 1900, 600 bu as reported the
following day. The primary receipts to-
day We're 1,291,000 bu, the increase in the
receipts at Kansas City and st. Louis
ne ping out the primary the past two days
Last year d blizzard in the northwest pre-
vented any report.
Clearances, wheat and flour, S65 900 bu
Eighteen loads sold for export at New
York
The market continued on decline unit
the close, rallying only a trife near tn
end. December closed at 79@791sc Ma
s05sc and July at S0Ac.
The cash market showed good deman
general at prices about steady relatively
but lower in line with the option. No.
spot or to arrive sold from size to s2c
+. some to arrive going as low as SIC.