The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-03
Analysis Of the Movement to Date
by 6. D, Rogers a Feature
To-day.
Good Weather and Heavier RECEIPTS
and Local Increase in
Stocks.
Holiday in New York Trading
Light-The Undertone
Firm.

Minneapolis Chamber OF Commerce. Nov.
3.-The feature of the wheat market to-
day was the report of Colonel Rogers.
printed in the Minneapolis Market Record,
covering the movement to date Of the crop
now being marketed. Thirty per cent or
about that quantity has gone forward. The
report Is bullish no matter how 1t may be
read. The outright prediction Is made
that there will be q great scarcity OF mill
ing wheat before the season ends The
report was the cause of considerable COM
ment on change since it is based upon an
estimated yield of approximately 100000
900 blu. Traders We're inclined to view 1T
as making the northwestern situation for
a. long look ahead decidedly more bullish,
for II shortage Of wheat appears pos
lsible, even probable, In figures based upon
a 200, 900. 900 blu yield, the same method Of
figuring applied to the Jones estimate of
a47 100, 900 blu would be bullish beyond the
hopes Of the most pronounced bull.
The news on the whole was unimport-
ant and of no influence upon prices. Liv-
larpool was weaker and there seemed to be
an Increase In bearish sentiment at the
start. The weather was principally re-
sponslble for this. There has now been
q long period of continued good weather
and receipts are coming more freely, and
the indications point to continued good
weather, the immediate forecast being for
fair weather tonight and Wednesday for
Minnesota and the Dakotas. Local stocks
tChicago was easy, and led off In decline
on December wheat, this starting a down
turn here December. after an hour Of
trading, broke to 79Ac, and May sold
down to 7sc where it stuck.
Minneapolis received 475 cars, Duluth
l842 for two days, and Chicago 206, but
there was no comparison as last year there
was an election-day adjournment on the
corresponding day. Kansas City had $685.
900 bu and ST. Louis 101, 900 against holi-
days last year.
The October government report Is gen.
orally favorable as to corn.
Illinois-Corn matured beyond expecta-
lions; quality good; yield average.
Kansas-Corn unusually we'll filled. No
frost damage except in few northern coun-
ties.
Nebraska-Month very favorable for
corn.
Iowa-Corn mostly we'll matured and
being cribbed in good condition.
Indiana-Corn better than expected.
Very little injuredA
Ohio-Corn mostly secured without in
Jury.
Primary receitps 100000 shipments
T85,O00 No clearances were reported, nor
was there any Bradstreet's estimate as
New York was closed.
ST. Louis official contract stocks are
1922, 900 bushels and it is estimated there
has been an increase Of about 900
bushels this week so that there Is 2, 402,-
900 bushels No. 2 red there or about $780,
900 bushels increase there in three weeks.
Duluth reported ter loads for export
The market had $. break to 100 for De-
- cernber and to 77fac for May before the
close. and the close was easy at the low
point Winnipeg reported receipts Of 696
cars against 6S7.
The cash wheat market was hardly a
satisfactory one for sellers altho the good
wheat moved freely enough. For No. ]
northern &c over December was the aver
age for choice, and for No. northern Nc
under December for few choice cars and
M@1hc under for others. No. 3 wheat
sold from 73c to 76Ac.