The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-13
Elevators Took About 100000 Blu.
and Demand Was in Excess Of
Supply.
The Market Advances, May Closing
at 773sc-Forty-seven Loads
q for Export.
Receipts Not Heavy and a Better
Feeling General in the
Market.

Minneapolis Chamber of Commerce, Nov.
13.-Wheat started in steady and a shade
frmer this morning holding about Nc
above yesterdays close during the open
ing hour. Liverpool failed to show any
marked weakness Notwithstanding our de-
cline and closed only Is to n off. Ameri-
can market changes. important as they
are, do not alone influence Liverpool at
present. That market is watching Rus
STA, and much Of the eaS1neSS and heSita-
ton there, according to Broomhall, is due
to predictions of a heavy movement of
wheat to come from Russia in the near
future. Australia too, is an important
Liverpool factor at this time. The esti-
mate has been made, that II the Austral-
Ian crop comes out al right there will be
ian crop comes out all right there will be
bears take this as a matter for additional
heaviness, altho the estimate is large and
even If realized good part Of the surplus
will go to South Africa. AS for Argentine
the reports carry nothing new but are
confrmatory Of former advices of a large
crop coming along nicely. Last weeks
shipments from Argentine were 200 blu
against $4,000 in the previous week and
$4,000 a year ago. The comparison from
January 1 is about the same proportion
ately, showing to date 6O,544,OO0 bu,
against 1885, 900 in the same period of
last year, and 1887 900 bu corn against
40, 60, 900. 1t is a fact to be noted that
the preponderance Of the bear news Is OF
a. nature prospective. Actual conditions
are less bearish than week ago.
The increase In breadstuffs supplies dur
ing October was equal to 8,446,OOO bu
wheat and tlour)S In October last year
there was an increase Of 20.99o,OOO blu, or
about what should ordinarily be shown
at this time. 1t is a noteworthy fact that
in the face Of heavy production flour
stocks decreased in October by 900 bar
rels, while a year ago in October there
was an increase of 279, 900 barrels. This
showing is certainly powerful bull argu-
ment, but one likely to be lost sight OF In
the present general bearishness. Because
local wheat stocks have Increased this
week by 1.1Oo, 900 bu the local traders are
likely to imagine general pil1ng up or
stocks. but this is hardly the case, and
If reports from the country may be taken
at their full worth, no great rush or wheat
into Minneapolis in the near future Is
likely, To-day there were 400 cars here
again 1896 Duluth had PIG against 236. and
Chicago 1872 against 1O2. Kansas City re-
ceived 1876. 900 bu against 10000, and st.
Louis S. 900 against 100000. Chicago has
shipped out about 100000 bu in the past
two days.
Primary receipts were 1,415,Ooo bu
against 1,217,00O and shipments 666.OOO,
against 76s 900. Clearances. $4,000 bu.
The Modern Miller says conditions sur
rounding the winter wheat crop are gen
orally considered as being seasonably IA
VOTdDle. mo COiAple1iiilo " HoAi'SaNSAAN>
are being received. Little mention Of hes
sian fly since the cold weather set in. The
plant Is in excellent condition to Withstand
$, severe winter weather.
Chicago sold q cargo Of wheat Buf-
falo at &c over December and New YORK
bids were at a good premium. New York
reported forty-seven loads Of wheat anc
forty Of corn for export. May wheat II
ST. Louis advanced 15sc, or to 2Ac ovel
Chicago.
For the week wheat and -four clear
ances were 8, $50 900 bushels.
The market made a quick jump near thu
close and the close was strong and higher
December at 77@771sc, May at 773sc ant
July at 77B @77Ac.
The feature in the cash market wa
the heavy buying of wheat to arrive
Round lots were taken. principally b,
elevators, at Tx @78Ac for No. l.. Their
was good demand generally at &c owe
for No. l and December price for No.
Millers would not pay these prices in al
cases, but elevators We're ready to TAX
all the wheat offered, and for wheat t.
arrive there was demand in excess Of tn
supply