The Minneapolis journal., 1903-12-12
LOWER IN SESSION; Up AGAIN ON The CURB
May Wheat Breaks from s17sc to
so7sc, Firming Up Again
Near the Close.
A War-Talk Demand for Calls on the
Curb Sends May to
S11ac Bid.
Liverpool Quiet Against Argentine
Rain Reports = Commercial
West Figures.

Minneapolis Chamber of Commerce, Dec,
12.-May wheat broke to S0Nc to-day,
covering a downward range of a full cent.
the opening trade being at S17sc Satur-
day selling and lack of support from the
big Chicago bull interests made the weak
ness very manifest, altho little 'f1rmness
came in before the close carrying May
back up to S13s MSi1sc and closing it at
s1B@S1Ac The report was circulated on
the floor and was sent out to other mar
kets that the -four mills will close in part
next week. 1t is likely that two smaller
outside mills mill of the consolidated |
group and one of the Pillsbury- Washhurn |
mills, will close. but no important shut |
down is Indicated The Washburn-Crosby |
company viii not close any part of the !
capacity. Foreign advices were indiffer- ,
ent and Liverpool 1sd to ,Ad lower. which |
was disappointing, in view Of the rains in |
Argentine, and the expectation of reflected /
fImness in Europe. Primary receipts were
900 bu, against 695, 900, and shipments !
20S.00O, against 201.0O0. Wheat and -four
clearances $4,000 bu.
Minneapolis received 1872 cars agans
40: Duluth g. against TO- and Chicago 67,
against II. Kansas City had 11S.C0O bu,
against 60 ,000 and ST. Louis SS, ,000, against
$4,000. Local elevator stocks gained 914,-
551 bu for the week: and now total S,641,-
$50 bu - o&+fs
There is quite general precipitation over
the northwest. west and southwest. There
are 'llEsnC SHOWS, IN minnesota ana SOuln
Dakota SHOWS in Nebraska and Iowa and
rains or, SHOWS in Missouri. Illinois and the
extreme southwest. Temperatures are
very much lower and colder weather gen
era1 Winter wheat is getting some of the
moisture required. The snow fall is not
heavy enough to retard movement.
Cash business yesterday was the most
attractive of the week Armour sold 2O0.-
900 bu No. l northern wheat at Buffalo
and there was 10000 bu No rcd sold at
st. Louis. Sales Of corn in Chicago were
$4,000 bu and oats 40, 900 bu, lOhrke con-
firmed 445,OOO bu Of wheat taken for eX-
port in all positions, including 12S,000 bu
of spring. Other exporters reported 246,-
600 bu corn sold.
The Commercial West speaking edi-
torialy. declares itself unable to figure out
much above 30000,000 more Of wheat in
the northwest to come to Minneapolis and
Duluth. AS early as August that paper
said Minneapolis and Duluth would re-
ceive IS, 100000 net Of spring wheat of this
crop, as against 10000 900 on the last
crop, decrease of 25.000.G00. Thus far
on the crop Minneapolis and Duluth have
received $4,000, 900 bu of spring wheat from
the three states, which would leave
10000, 900 to come to next August on this
basis. I'VE are unable says the Gem
mereial West. ito find anything to date
to warrant changing these figures: at
least, nothing to warrant an expectation
of more, wheat tEar this to come forward.
40.000000 to 45,000,000 bu to grind, based
on present averages, and admitting that
the present averages will not be sustained
for the crop year. it would still seem to
be necessary to import some wheat in
order to fill out the needed supply"
December wheat closed at 79Ic. May
S11s MS1Ac and July at sc. =,
In the cash market there was good de-
mand at S1@S11ac' for No. northern and
191s@795sc fo- No. northern.
/, ,1-r1 I~-, i ~
sharp. demand on tine floor for calls and
from S0Ssc the privileges rose to s214c. Lo-
gan & Bryan were persistent buyers of
calls. This made the pit crowd very ner-
vous and May on the curb sold to st1ac.
The only explanation of the curb strength
was a renewal of war talk from the far
east.
At 1:25 the curb price for May wheat
was S1Ac. Calls sold at S2Ac for a half
million May. The shorts in May We're
badly ratified.