The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-27
Surprising Drop in the Movement
Low Crop Estimates No
Longer Ignored.
Argentine Has Rains-Strong Mar
ket and a Higher Close in
All Options.
------------- Ir
Sentiment Firmer, but Trade Still
Light Twenty-eight
Loads Sold.

Minnea polls Chamber of Commerce,
Nov. 27.-One thousand cars less than last
year on the corresponding day-such was
the showing this morning in northwest
ern wheat receipts With good weather
for the movement and good demand for
wheat at prices above last year, Mime
apolis had only SIT cars In the yards-over
forty-etsht hours-against, 1.211, and Du-
luth had only 24S against S55. Here is
a total Of LOGS against 2.066 last year,
or 1,001 cars less. If Chicago, with 95
against 109. be included. there Is a total
of 1.1S0 against 2,175, or a loss of LOIS.
II the southwest be included, the showing
is not changed relatively, for St. Louis
had 10000 bushels against $4,000 and Kan
sas City $4,000 against $4,000. Where
is the wheat? This is the question. For
several months there has been lighter
movement, and it has been ignored on
many different grounds. Every sort of
explanation has been offered, and the
trade has again and again been told that
while the movement was light it would
increase later. Everything in prospect
that was to bring the increase has been
reached and passed, and still the wheat
holds back, and still the bears say the
situation is not right. prices are too high
and some day, the wheat will begin to
; come In and prices wilt go to smash. Now
the argument is that the turn into De-
cember will bring that pre-holiday mar
ket1ng of wheat witnessed annually when
farmers want Christmas money, and so
the stuff will come in. But many in the
trade have about begun to think that it
is time to cease theorizing about condi-
tions and that the fact that there is con-
siderably less wheat In the northwest than
last may as well be accepted now as
later on -.ss..= ...- ..-- ''~
Antwerp and London sent cable advices
rs to Argentine, both confirming reports
OF rains in that country, and Antwerp re-
ported 1t, still raining. Whether this is
good or bad is doubtful, but from the fact
that European markets were unaffected
1t would appear to have been accepted
as favorable. Liverpool alone was up a
little. Argentine shipped 272,00O bushels,
against 1000 last week and $4,000 a
year ago. The weather In the northwest
is generally favorable. with temperatures
moderate and fair and warmer weather
predicted. There Is no precipitation.
Minneapolis elevator stocks increased
about 100000. bushels for the week.
The Winnipeg Commercial Record says
Manitoba has been firm all week and
prices have advanced under the influence
OF American advances. 1t is becoming
more evident that the extent Of the crop
has been overesttmated and the quality of
grain has been damaged badly by frost
in,the west and southwest districts. -
The Modern Miller says favorable crop
weather for this season Of the year has
prevailed this week, with a good snowfall
in most sections east of the Missouri.
The excellent condition Of the winter
wheat crop is well maintained.
Primary receipts were 1909 900 bushels,
against 2.1e9,000, and shipments were 3d.
600 against 389, 900. Wheat and flour
clearances were $4,000 bushels Clear
ances for the week were g. 851, 900 bushels
New York reported eighteen loads sold
for export.
The market closed firm and higher for
all options. December at 79Ac May al
SOssc and July at 90@8o1c. o..
NO. northern sold we'll at sligo for a
good part, and there was excellent cash
demand for all good wheat. Fn.''.' .-'r