The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-04
Free Selling Forces the Market Back
After an Opening Show Of
Strength.
Statistics Bullish-A Moderate In
crease in the Worlds
Visible.
Receipts Not Heavy-some Export
Business-Weather Less
Settled.

Minneapolis Chamber of Commerce. Nov.
4.--Damage reports from Argentine, less
settled weather conditions in the west,
and moderate receipts, put halt to bear
activity in wheat this morning and for
an hour after the opening the market held
In narrow range and about steady at yes
terday's closing prices. Liverpool was
weak and Ss@5sd off at the close, butfthe
continental markets were strong, Paris
equal to &c up and Berlin about &c up.
Broomhall cabled that in the province
of Santa Fe in Argentine, some damage
has been done by hail, but there is no
intimation so far that 1t is anything of
nature at all serious. In our own coun-
try the weather this morning was cloudy
over the northwest. and compared with
the almost perfect weather that has ruled
for long time, conditions to-day were
less favorable For Minnesota, however.
there is a forecast for fair and cooler
weather tonight and Thursday. Receipts
here were 376 cars against 1,2ll last year.
which was bullish showing, even allow
ing for the fact that the last year figures
are for two days and this year for but
one day. Minneapolis elevator stocks in
creased by $4,000 bu. An important fea-
ture and one now being closely watched, is
the outward movement from Minneapolis.
To-day 81 cars went out Duluth had III
cars in against 295 and Chicago 1854
against 304. Kansas City had 214,O00 Blu
against $50. 900 and st. Louis $4,000 bu
against 100000. one day this year against
two days last year In both cases. The
Bradstreet's figures for the change In the
worlds visible show an increase OF 5l9O 900
bu which is bullish. for year ago at this
time there was an increase of 1856, 900
blu. and the worlds visible ordinarily In
creases heavily at about this time. East
of the Rockies there is an increase Of
1910, 900 bu but this is offset by a de-
crease of 800, 900 blu on passage.
Galveston reported forty loads to go out
from that port.
Primary receipts 1855 900 bu against
3,490,000 and shipments 100000 against
1901, 900, two days last year against one
this year. Wheat and flour clearances,
287, 900 bu.
Farnum of Chicago sizes up the situa-
tion as follows: LAS near as | can see
shorts have bought a good deal of May
wheat. 1t looks as tho it would sell off by
this time little more than it has, but
there has proved to be a fair demand.
Pit-traders have been fair buyers. While
1 don't feel buIlish on wheat and think
market will work some lower I would not
sell it just now. Corn is steady with mod
crate trade. Good many small traders
short trying to get price to 4Oc. Think
some rally is due. The weather is soft
and wet where husking is going on and re-
ports of conditions are in many cases I'M
favorable
Principal increases in Bradstreet's re-
port were as follows: Manitoba, 100000
bushels; Northwest Interior Elevators
1.00O.O 900; Kewatin, $4,000; Aberdeen. S
d, $1,000. Decreases: Depot Harbor
225,0 bushels; Nashville, 17500(
Chicago. private elevators, 10000; Roch.
ester. $4,000; Louisville. 10000 Milwau
kee.. 50, 900; Minneapolis, private elevators
$4,000.
The market was easy towards the enc
and the early gain was quickly lost. De.
cembcr closed at 1850, May at 771a @775s c
July 77kc.