The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-01-24
They've Seen Chicago Wheat Jump
&c Since Monday, While Mime
apolis Closes lac Higher.
Armour Will Yet Come Into the
Minneapolis Pit, They Say, and,
& Punish the Bears.
Close of a Week of Active Fluctua-
ton in All the Speculative
Grain Markets.

T. Minneapolis Chamber of Commerce, Jan. "a
Heavy buying by the Armour interests, sharp
recovery In price in Paris and very favorable
reports from export grain markets lifted wheat
from the depression that marked the close yes
terday and carried May, back up to 7sNc Chi
cago led again. and Minneapolis dragged again.
There such evidence of bull sentiment
here as in Chicago. The local May option fol-
lowed Chicago, but in a half-hearted sort OF
way. 1t was difficult to sell any round lots
here at top-notch figures, San Francisco had
three ships to load with wheat and -four for
Australia. st. Louis reported exporters buying
wheat futures there. New York started off with
.rect was favorable for more business through the
day. From Rosario direct cable to Chi
~cago reporting good weather. Worlds ship
ments expected to run lighter than last
week in the Monday showing. The Mime
apois stocks fell off during the week by 460,s 1854
.bu, leaving the total 14.S67 ,975 bu. y@t-.--."
Chicago Is getting far out of line that spec
ulation has started as to the possibility of the
two markets getting together again. 1t is con.
coded that the Armour interest is hardly likely
to carry Chicago to point too high over the
northwest. They will not want to draw Du
lnthMnneapolis wheat that way neither will
they want to put the level so high as to hands
cap the milling industry. For this purpose 1T
Is highly desirable that all markets should fol-
low closer together. To the bears this means
that the Chicago manipulators will let up for
while until other markets get more firmly estab-'
lshed the new higher price levels. To the
bulls it means such thing. 1t means to
them that the bears, seeing a fanced security
in Minnea polls, will naturally sell great deal
Of wheat here, and there will be big shortage
here, and day. they say--the wish being
father to the thought-Armour will come in and
buy few large lunches of wheat in the Mime
apolis pit and there will he scramble for cover.
IT Is interesting to note that Chicago May, start
Ing the week at 1885 @7s&c, has sold to $3.50,
while Minneapolis May, starting at 7sMc.s could
not be carried to roc. There are many disap-
pointed bulls here still banging on. hoping Min
reapolis will shake off her depression and rally
later. yet losing hope Chicago draws farther
away. the difference at time to-day amount
ing to sac, while for instant at time
Chicago &c above Minneapolis. On Mon
day morning last the Minneapolis May option
opened at 7Shc. and the local bull who held his
wheat through all the fuss and tumble of the
week finds himself 4c ahead at the close of to-
day. The Chicago bull at the close to-day finds
himself level 33sc higher
Liverpool cabled that wheat holds very firm
at slight decline. Corn is depressed, with buy
ers holding off. but they have confidence in pres
ent prices of wheat and corn although the
market may go temporarily lower. New York
reported ten loads Of wheat for France. which
made the business for the day twenty-five loads.
Minneapolis had 357 cars. against 1874 last year.
and Duluth had 43. against "a. Primary
ceipts were 591 900 bu. against 439. 900 bu last
year. and shipments 100000 bu against 240, 900
bu. Wheat and flour clearances. 54s, 600 bu.
The market closed quiet and easy at 7S1ac
for May and 1885 M7S1ac for July.
The cash market was active, with demand for
good milling wheat to arrive.