The Minneapolis journal., 1903-12-01
May Wheat Falls From S2c to 8o7sc
and the Bull News as Sudden
ly Ceases.
Country Elevator Stocks Increase,
Primaries Are Larger and
Bears Plenty.
Yet the Situation in the Main I'm
changed and the Bulls Con-
fident.

Minneapolis Chamber of Commerce, Dec.
IA sharp setback occurred in wheat
this morning, all options falling off, both
May and December losing almost cent
in an early break. Selling began by longs
with profits in sight, and against this
there was not enough new buying to hold
prices. Kansas City had big run OF
wheat, which was one beariSh item, anu
cables were rather Indifferent, which was
q more important consideration. Receipts
were still under last year at spring wheat
points, notably at Duluth, but in Mime
apolis rs cars more than last year turned
up and this made sentiment a trifie less
bullish here. To IL o'clock no deliveries
were reported on December contracts. but
in st. Louis it was thought the December
deliveries would run in excess of 2,5OO,--
coo bushels. The weather map this morn
Ing shows quite general light SHOWS.
'fnere was a light covering, or traces,
quite generally last night, and the map
this morning shows light fall also in the
:. .Dakotas, Minnesota, Kansas and Missouri.
The precipitation is nowhere heavy. The
temperatures are still seasonable, but
somewhat milder west Is indicated. The
following Is the forecast: Illinois, In
diana Michigan and Wisconsin-Cloudy
tonight and Wednesday. Minnesota
Snow furries tonight and Wednesday.
Iowa, the Dakotas, Nebraska and Kan
sas--Fair tonight and Wednesday. Mon
Wednesday.
Chicago wired that deliveries of grain
there this morning were very 1ght. NO
wheat, possibly $4,000 bushels of corn,
10000 bushels Of oats and 10000 bushels of
flax, and a few provisions-not enough
to have any effect on the market 1t
was not expected, however, that any
grain would be delivered until after the
close of navigation, which will not be
before Saturday next, so probably del1v-
cries will have no influence on the mar
ket at ALL
Minneapolis received 511 cars against
436, Duluth 279 against 5S1, and Chicago
100 against S6, a total of $50 against 1,lO3,
or 123 cars less than last year. Kansas
City had 200 bushels against 11S, 900,
and st. Louis 126, 900 against $4,000.
Bradstreets report of the change in the
worlds visible supply was delayed and
mo figures were received up to noon.
Argentine cables to Chicago direct re-
ported the weather unsettled and less
favorable generally. Broomhall cabled
that Liverpool advices are Of unsettled
weather in Australia well, that rains
in Victoria are hurting crops, but in New
South Wales the rainfall has been bene-
fetal.
Armour bought about 100000 bushels
of wheat in Chicago, presumably to check
the decline, but was reported selling
wheat in Milwaukee.
SiOSSSI r
was unchanged.
Duluth reported acceptances from Ham
burg on offers over night.
The report Of the secretary of the cham
ber, showing an increase Of 660,0O0 bush
els in country elevator stocks, was a sore
disappointment to the bulls, who had been
looking for a decrease. Last year the
Dec. ] report showed decrease of O,00C
bushels. Even with the increase, how
ever, the country elevator stocks are row
1,090 900 bushels under last year, at $685.
900 bushels against 7,726000. 4
Primary receipts were 1.622 900 bushels
against 1929, 900, and shipments were ,952,.
900 against s46 900. Wheat and flour clear
ances were 265,O0O bushels
Near the close the market showed
stronger tone and recovery was made IL
part, but the close was 1a@5sc off for May
at S1Ac, and ~ off for December at 79A c
July closed at S07ac.
Excellent demand for cash wheat wa.
the report from the cash tables. No. E:
and No. to arrive were in good demand
and the spot stuff sold as per memoran
dunn below.