The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-10
WEAK HOLDERS FORCED TO LET 60 IN WHEAT
Chicago December Makes Severe De-
cline, Minneapolis Holding
Somewhat Better.
Rains In Argentine Against Earlier
I, Reports Of Good Weather
Snow Southwest.
Receipts Run Heavier Armour Fails
!. to Support the Market-A
Rally to Close.

Minneapolis Chamber Of Commerce, Dec.
10.-Conhicting Argentine advices were a
feature in wheat this morning. A cable to
Iohrke, the New York exporter, from
Buenos Aires. reported fine weather and
good prospects. Another cable. presun
ably Of later origin, from Rosario to Har-
ris-Gates. Chicago. reported heavy rains
general over the wheat districts. Between
the bearish reassurances Of the former and
the buillsh import Of the latter the trade
was in some doubt. The markets mean
while turned lower on domestic influences,
the principal Of which were the lack of
support from Armour and the snowfall
over a good part Of the winter wheat ter
Iritory which puts the crop in much better
position. May wheat was off to SO1sc
early and appeared to be tending still
lower. Receipts were pretty well up COM
paratively all around. Minneapolis had
465 cars against ass, Duluth 122 against 119
and Chicago 81 against So. st. Louis re-
ceived $4,000 blu against $4,000 and Kan
sas City $4,000 against $4,000 bu. The
winter wheat markets were easy and all
markets sagged. Corn showed strength
and was a sustaining influence early, but
this was lost later. The Price Current
finds rapid progress in corn husking, but
the corn irregular in yield and quality.
Wheat growth retarded in the Ohio val
ley from deficient moisture. Elsewhere
favorable. with unimportant insect COM
plant. Corn marketing increasing. Wheat
movement normal. The feature Of the
weather map is the almost general snow
covering over the west, northwest and
southwest. With the. exception Of Kan
sas, which has no precipitation, there are
light SHOWS everywhere. They are heav1-
est in the Ohio valley where they are most
needed While sufficient to make a light
Towering, the SHOWS are nowhere heavy
enough to interfere with the movement.
The temperatures are seasOnable. In the
extreme north at Z a. m, the mercury was
8 to So above. In the Dakotas and Minne-
sofa zero to IS; in Iowa and Nebraska, 6
to "a; and In Kansas, Missouri Illinois,
Indiana and Ohio. IA to %. -.-....
The official figures of Great Britain
yields on the last harvest have been made
public, and they bear out the predictions
made months ago that there would be
shortages shown. For wheat the total is
placed at AZ, 624 900 bu against 5S, 463, 900
i'm the previous year, and I'll 959,oO0 bu as
the fve-year average; The oats crop is
placed at 155, $50, 900 bu against 1874, 100000
in the previous year, and 0,2S0,000 bu for
the Ave year average.
Baltimore cleared 107, 900 barrels of flour
which made it look as tho the clearances
of wheat and flour for the day would be
very heavy. Other ports fell off, however,
making the total showing good. but not
quite up to expectations at $4,000 bu.
Primary receipts, $4,000 bu against 49,
900; shipments, 351.0 900 against 1913, 600
Near the close the market firned up and
the closing prices were only a fraction I'M
der yesterday, May at S11sc. December
7sAc and July s0M Msic. Armour had APP
parently shaken out the weak holders on
the severe decline in Chicago, and the
market looked healthier near the close.
The cash market showed wide range
Of prices in line with the option, and the
advantages were all with the early sellers.
The government report to come late this
afternoon is now the important factor. and
is being anxiously awaited. The Michigan
state report makes the wheat condition SO
compared with 88 last year. -..