The Minneapolis journal., 1903-12-18
ADVANCE OF SAC IN The PRICE OF MAY WHEAT
Frost Damage in Argentina and the
Old Ru1nor of a Russo-Jap
War.
With This an Export Business To-day
Said to Equal Eighty Loads
in ALL
Liverpool Listless Shorts in the
Local Pit Scared by the
Strength.

Minneapolis Chamber of Commerce, Dec.
1S.-Wheat started. up this morning and
scared the local shorts not a little. May
sold up to size by II o'clock. Chicago
had a good showing of strength to start
off with and other markets followed. Ev-
cry trader anxious to know whether
there was anything to the rumored heavy
export business of last night but no con-
firmation was forthcoming. There was.
however, a revival of the old Russo-Jap
war rumor and the southwest was buying
a little wheat for the reason that the re-
ceipts there We're much lighter than re-
Gently Kansas City getting $4,000. against
$4,000 last year, and st. Louis 200 bu
again 1000. Of paramount Importance
was a cablegram from Rosario to Armour
direct, which the Armour representative
made public on the floor Of the Chicago
board. This stated that southern portions
Of Argentine has had severe frosts, and
the damage in some localities is estima ted
at 25 per cent, altho the weather now is
more favorable. Liverpool was quiet and
unchanged, and Broomhall cabled that
while there are local rains reported in in
terror Argentine, the work of harvesting
is proceeding we'll in general. Supplies
are not coming forward promptly. For
the week Argentine shipped 1874, 900 bu
against 304. 900 last week, and 256,000 a
year ago. In our own country there were
SHOWS in the Dakotas and Montana and
some precipitation in Kansas and Missouri
with temperatures moderate. s'~
Local stocks have increased by about
500, 900 bu for the week.
Minnea polls received 316 cars against
400, Duluth SO against Is and Chicago Ga
against Al. Primary receipts GAL, 900 bu
against 5000; shipments 923, 900 against
1856, ,O0O Wheat and flour clearances, SIS, =
900 bu..
English consols We're reported off 5-16d
which helped the wheat strength as it was
taken as indicating some substance to the
far eastern talk. ..--
Chicago wired that there was a large
export business in wheat yesterday which
was not generally known until after the
close. Chicago traders were inclined to
sell wheat because of the dullness. AS has
been the case for several days, they put
out their shorts, got the price off little,
but did not bring out further offerings.
Then on an attempt to cover, all loss in
price was recovered. Armour seems to
be quite as active in preventing advances
declines at present. The movement of
wheat is being closely watched. Should
there be any falling off in the southwest
It would be difficult to prevent a sharp ad-
vance. There is a better cash demand for
corn both export and domestic. 1t might
easily overtake the present light move
ment.
The Modern Miller, says. there are con-
tnued complaints of insufficient moisture
and unfavorabe wheat conditions from
the southwestern and southeastern sec
tions of the winter wheat belt. In the
more northern belt the crop Is generally
we'll protected by snow. IL. .~E'
Forty five loads were sold for export up
to noon. 49,
Before the market closed the export busi-
ness was raised to 56 loads and again to
80 loads.
Wheat and flour clearances for the week,
1858, 900 Du. -.... f.
T. December closed at 79&c, May at S1B @
S1Ac, July at S1Ac.