The Minneapolis journal., 1903-12-30
SHORTS THROW WINTER WHEA I INTO MINNEAPOLlS|
And Break May to 831sc, but 1t Makes
Quick Recovery to 84c, Clos
ing Firm.
The Market Hangs on the War Re-
ports, but Is Very Strong
Independently.
Southwestern Receipts Large - The
Market Broadening and Interest
Increasing.

Minneapolis Chamber of Commerce, Dec.
S0.-Interest in wheat fell away this
morning from influences far removed and
was directed upon the situation at the
moment in the local market. The ses-
sion opened with the news relegated
to the rear, all other items showed into
the background and traders intent upon
the posting OF receipts for the day, IN
which the figures showed run of 555
EARS into Minneapolis. Not only was this
heavy by comparison with the 26S cars in
On the corresponding day Of last year, but
it was more wheat than any one had
thought would turn up. At once the in"
ference was drawn that this was the
forerunner of a freer movement to come.
and that the higher prices now ruling,
compared with prices q year ago and
average prices at this time, are at least
beginning to draw in wheat in larger
quantity. On this the early tone was
weak. and May, having sold yesterday to
S4A A@S47sc and having closed firm at
S3NC, was off to S31Sc. a still lower
figure appeared almost certain, but the
report soon went around that the big
showing was due to a large proportion
of winter wheat, that this winter wheat
from the southwest had been accumulat
ing in the yards around st. Paul and that
the railroad companies had made con-
certed effort toward affecting a cleanup
and had brought over several hundred
cars of the southwestern stuff. Hesitation
followed. the trade waiting for the in
spectOn summary usually obtalnable at
the inspectors office about noon. Mean
while the scare was off and the market
held steady. .-...
81 In the southwest the movement is con-
tinuOusly heavy. Kansas City had to-day
263 900 bushels against $4,000, and ST.
Louis 145000 against $4,000. Duluth had
% cars against %. and Chicago 43 against
81 cars.
D.
futures and -four broke off on December
wheat. San Francisco wired that rates
on flour to the orient have been cut, about
100 per cent. ,..-.
About noon some new war gossip came
alongsand Jared the shorts a little. Odes-
sa cabled that in southern Russia the
weather had turned colder and the wheat
has little snow covering.
Primary receipts were 1,1o6,1oo bushels
i against 5O6,0 900, and shipments were 362,
! 900 against 151 900. Wheat and flour
clearances were 431,OOO bushels.
After noon the gossip went around the
! floor that the winter wheat that swelled
receipts SO materially, and some of the
spring wheat as we'll, was largely the
property of shorts who have place for it,
but permitted an accumulation on track
with the idea that big lot coming in
would have weakening effect on the gem
eral market. This looked like rather
lar IeICN9Q lQeH yet IL WdS dCCepIcu Uy
many as more accountable for the big run
than mere desire on the part of the roads
to clean up When the report came it was
shown that out Of 4S1 cars inspected. 76
were winter wheat, which was pretty
large proportion. Assuming the proportion
to be the same thruout the receipts to-day,
with winter wheat out would have been
467 cars instead of 500. E.M. .~#.H..H
May sold to- SAC and closed at SS& a
S3Bc. July closed at $50 and December
at S11ac. ..,.-4.... -
Armour bought wheat the close
New York sold eighteen loads of wheat
and twelve loads of corn for export
Grade wheat sold we'll in the cash mar
ket. the No northern going at nc under
May and the No. 2 northern at 2Ac under.