The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-02
DECEMBER SELLS TO TIC AND CLOSES STR0NGl
The Wheat Market Stimulated by a
Better Demand for the
Cash Article.
Also Larger Weekly Clearances--
Weather Not the Best and
Receipts Moderate.
The Bear Arguments All Thought to
Be Discounted in Good
Part.

Minneapolis Chamber Of Commerce, Oct. 3
Wheat jumped almost cent this morning. De-
cember opened at 764sc against yesterdays close
at 76@761c and sold quickly to 1876. while
May opened at 77a4c, and sold to 7sc. The bulls
were confident that the turn had been made and
that further advances were to come. but at the
December back to I61ac, where 1t stuck. De
cidedly less bear talk was heard, however, and
the general tone Of the market was greatly I'M
proved. Some new buying was shown and out
side orders more numerous than for several
days The bears had long line of weakening
facts and figures to set out, but their gossip was
not new. While there are many bearish things
in the view, there are few bearish items that
are new. The local stocks were shown to have
Increased 1900, 900 bu, but this had been dis
counted long ago. The cash market is still I'M
satisfactory the whole, but not more 50 than
the worst time. the cash market really shows
Improvement. For the first time in days
the foreign markets showed disposition to come
up little and Liverpool was I'D higher. Paris
cables also showing moderate strength. The
September option Is out of the way and it is
long look ahead to December. The weather
now is not good. Two days of rain brought
precipitation heavy enough to cut down the
movement of grain do any harm. Still no one
pretends to say that damp weather is the desira-
bic thing. Present atmospheric conditions GER
tainly do not advance northwestern wheat
ditions any and with showers again predicted
for tonight and Saturday, the outlook as to
threshing and the movement in general is not
the best. Receipts are not heavy and the three
principal points all ran under last year, Min
34S against 362. and Chicago 43 against 121,
while Kansas City had III cars against So, and
st. Louis 10Y 900 Blu against III, 900 bu. Mean
while the flour mills, badly crippled they are
by the strike. are doing business, and the
fact that the past three days show shipments of
20,1Ss, 1928 and 1878 barrels respectively is
pretty good evidence that the industry Ia far
from being completely parayzed, even tho the
6o.sl4 barrels put out in the three days is
much less than would go out in one day under
different circumstances.
Total primary receipts were 1119OoO bu
against 1210o00 bu, and shipments, s07, 900 bu
with the report from Newport News missing,
showed 100000 bu. Baltimore cleared esO
barrels flour.
Bearish news continues coming from eastern
Enfope, and 1t was reported that wheat stocks
at Odessa Increased Ito, 900 bu during the week
Argentine shipped AS, 900 bu this week
against 9ss,ooo in the previous week.
Broomhalls agent at Barcelona sent a sum-
total for Spain 1e, 600, 900 bu below last year
or LOT 600 600 bu. The five year average for
Spain is Ill 200. 600 bu.
The Modern Miller says: Weather conditions
wheat. which is making seasonable progress.
excepting In scattered sections where there has
been lack of moisture, and where farmers are
delaying this work in order to avoid insects
Inc movement OF winter wheat to market is Of
moderate volume. especially Of the soft variety
weekly clearnnces showed 4, O92. 900 bu which
was SO much better than the last two weeks that
the bulls were encouraged by it..
december wheat having been sold off to 76Nc
rallied to TIC, and closed firm at high point
May closed firm at 7sc, also high point
MlIers mace their appearance In the cash
market and bought fair quantity of wheat with
the result that the market stimulated all
thru and a much more satisfactory showing was
made than on any previous day Of the week. No
1 northern brought 79G79Hc and SOC for choice
ana No. 2 northern sold at TIC for much Of the