The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-16
Japan Reported Buying Wheat in
Indie December Leads the
Advance.
Liverpool Not Bullish and Disin-
clined to Follow the Ameri-
can Markets.
The Local Situation Stronger Than
Ever and Little Wheat
Coming.

Minneapolis Chamber of Commerce.
Oct. 16.-Continued strength was shown
In wheat this morning, yesterdays ad-
vance being well maintained - thru the
early session. The bulls We're disappointed
because Liverpool was unchanged at first
and only IA up at the close. 1t was a
little hard to reconcile this with the re-
ports Of frost damage IN Argentine and
the later report from Broomhall direct to
the effect that Japan is buying wheat In
India. No doubt both reports are true.
The questions arise, however, as to how
serious is the frost damage in Argentine
and how much wheat is Japan buying?
In themselves these items are not Won
derfully bullish, unless they should be
shown later on to be more serious than
the attitude of the Liverpool market would
indicate them to be. This at least is the
way the trade was inclined to look at it.
On the other hand 1T Is not the business
of Liverpool to bull wheat as a general
proposition, and it is quite conceivable
that that market might hold indifferent
to bull news so long as her own require
ments are coming along all right, and, in
deed. it Is hard to see why Liverpool
should rush into any excitement while
worlds shipments continue heavy. The
shipments on Monday next may fell off
sharply, as some traders expect but this
Is always big guess. The first important
report received would hardly indicate that
there Is to be much Of falling off, for
India shipped 1,493, 900 blu, against $40, 900
bu last year, or almost three times as
much. The weather In Argentine was
reported somewhat better, altho the for
mer cables as to frosts having appeared
In some provinces were confirmed.
AS to the local situation there Is no
end of strength, indeed the situation Is
stronger to-day than ever. Mllers are
still out for the cash wheat and the pre-
imiums this morning were fully MAIN
tanned and a shade higher in some cases,
while the receipts totaled only 296 cars.
against sos. There was little sprinkle of
rain at 1890 around Larimore and Neche.
/ N. d. Farmers are now busy with fall
blowing, which is the most important con-
slderation for them at this time, and as
the roads are bad anyway, little wheat is
coming into country points. When the
weather turns colder the movement will
be increased, but there is nothing to in
dictate an increase in the immediate fu-
ture. Duluth had 297 cars against 2Ss.
and Chicago 104, against los. Total pri-
mary receipts, 1,012,0O0 bu, against 1,21O,-
t000 and shipments $4,000 bu, against
$4,000
The Liverpool Corn Trade News Of Oct
9 says: 1.-THE Russian wheat lately har-
vested Is giving great satisfaction III
many parts and as long as 1t is shipped
honestly, without intention at admixture
tof foreign substances. our Canadian
brethren and American cousins will have
to take care that the Muscovite does not
forestall them on the British market fol
the bulk of the recent heavy shipments
from the Black sea has been both goo6
and cheap"
-Clearances, 500, 900 blu. ..>..
The market was very strong near the
close. December selling to s1ssc and clos
Ing at 71Ac, May going to 8Okc and clos.
ing at SO&c.
Bradstreet's figures show clearances a:
follows: This week, 1856, 900 bu; las
week. 297s,0 900 bu; last year, 5,241, 900 bu
Corn-This week 1.410,OOO bu; last week
l,1O1, 900 bu: last year, 1S1, 900 bu
The Modern Miller says weather condi
tions have been highly favorable for the
advancem ent of winter wheat seeding ir
sections where this work has not beer
completed. besides furthering the growth
of the crop where it is in the ground: AL
advices indicate satisfacto condition
for the new crop. ,... -.
The cash market was firm to a. sha do
higher and 35c was the ruling figure fo1
No. l northern. No. 2 sold from SIC to 83t
and at &c to come out Of elevator There
was business in No. to arrive at S1@
8115c.