The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-09
WHEAT OFF ON SOUTHWEST SNOW REPORIS
May Strong Until Noon, When Kan
sas and Missouri Reported
Precipitation.
The EARLY News, Mixture with the
Bull Items Still More
Prominent.
Worlds Visible Increase Light-Ar-
mour Against the Pit in
Chicago.

Minneapolis Chamber of Commerce, Dec.
9.-Wheat was up and down in narrow
range In the opening hour, with f1rmness
shown In all markets, but little disposition
to trade very heavily either way. In Chi |
cago the entire pit crowd appeared to be
fighting the big bull and In other markets
pit traders waited to see what Armour
might do before making new ventures.
Minneapolis December was dead, with
scarcely a trade noted. May sold from
S1a4c to S2Ac and July between S1h@
S17sc, with no heavy business in either
option. The principal bull item of the
morning was the Missouri state report,
which showed not only. an area $4,000
acres under that of last year. but con-
dit1on II points lower, or IS, against So.
This was the third important state report
of winter wheat that was bullish and 1t
caused the shorts to hesitate. Dry weather
In the southwest is the feature now There
has been no serious damage, nor has any
been claimed. There is probably no Sec
ton that is not In fair condition and a
good rain or snow would make everything
all right Still, the lack Of moisture re-
mains very important matter and one
that will bear watching. st. Louis mail
advices to Minneapolis houses are to the
effect that good precipitation over the
dry districts within week swill allay all
fear, and this is the time when rains or
SHOWS may reasonably be expected, hence
no cause for nervousness exists. To the
speculative element, however, looking
ahead for anything likely to develop into
important factor, this dry weather in
the southwest is now a matter of leading
interest. The map shows general SHOWS,
most Of them light. but more or less pre-
cipitation in Manitoba, Minnesota, the
Dakotas, Nebraska, Iowa. Missouri and
Kansas. There is not enough moisture as
vet shown to relieve the southwestern dry
weather. but conditions are favorable for
more. Temperatures are moderate.
Larger receipts, weak cables and the
increase in local stocks, which now
show gain the week Of 100000 bu.
were leading bear items. Broonnhall cabled
that the Liverpool dullness and sagging
tendency is due in good part to the in
creasng wheat stocks at Russian ports.
Other foreign markets were Indifferent
Kansas City showed up heavily with $780,,
900 bu secured, against 1000 bu last year,
and st. Louis had sc, 900 bu, against 49, 900
bu. Minneapolis received AS cars. against
62S, Duluth IS, against "a, and Chicago 80,
against 43.
The Chicago Daily Trade Bulletin makes
the total available worlds wheat supply
174000,000 bu, against 185, 900, 900 bu at this
date last year.
Bradstreet's figures, delayed from. yes
terday, showed increase of 5e3, 900 bu
in the worlds visible supply. East of the
which total Manitoba shows $1,000 bu. and
Rockies the Increase is 2.193,000 bu, in
and northwestern interior elevators 3d., 900
bu gained. The quantity afloat for
Europe decreased by 1905 900 blu, leaving
a net gain of $4,000 bu.
Primary receipts 1859 900 blu, against
1,057,00 bu, and shipments 512, 200 bu
against $4,000 bu. Wheat and flour clear
ances 1884, 900 bu. .s.-n.
After reports began coming o,
snow over Kansas and Missouri and it was
reported showing over a wide area south.
west. This was the cause in some part o.
the closing weakness which carried May
off to 81 4 @lS1Ac closing 1t at the low fig
ure. December closed at 795sc and July
at SIG S1Ac ..-.> ~.-- ..
New York reported II loads sold for ex
port,