The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-16
The Week Opens With Recession
From Saturdays Level, May
Closing Easy at 77s4c.
A Fair Increase in the Visible and
Liberal Shipments From
Russia.
Good Demand for the Cash Stuff
Clearances $4,000 Blu. Wheat
and Flour.

Minneapolis Chamber of Commerce. Nov.
16.-The week opened in the speculative
wheat market with trade quiet and the
price tendency uncertain. The strength
that came in late last week and closed the
market firm on Saturday was carried over.
1t held the market firm but was not
enough to bring any further advance.
May sold early at 1850. then slowly eased
off to 7Sc while December sold at 7Sc and
eased off little to TITS @77&c. Business
was not heavy in any market. Receipts
here were sc cars under THE corresponding
Monday of last year. or S53 against 939.
Duluth received 2S8 against 307, and Chi
cago LAG against 1884, total for the three
markets of 1887 against 1.430. or 14S cars
less than last year The st. Louis figures
were a little confused, but the report
thought to be nearest to correct was that
of 100000 bu this against $1,000 last year.
Kansas City had 122, 900 blu against $4,000,
and altogether the receipts were in no
way conducive to weakness, but were
rather strengthening than otherwise. For
two days the Minneapolis elevator stocks
increased about 100000 bu. Against this
Is to be noted that 100 cars We're shipped
out Of Minneapolis. The early indications
on the whole are that the increase In
stocks this week will be well under that of
last week. ...
The Argentine news was to the effect
that in some parts Of the wheat area
heavy rains have fallen. Liverpool was
dull and slightly lower, and other foreign
markets quiet and Indifferent.
In the report Of the worlds movement
for the week America Is shown to have
shipped 1896, 900 blu, Russia 1864, 900 and
the Danube 1,544.0OO blu, India sending
out 1,l92,000 bu. Various other countries
sent out enough to bring the total to H.
$4,000 bu, which compares with II, AGA 900
last week and 11,S64OO0 year ago. The
quantity on passage at 80. $50, 900 bu shows
decrease of 1886, 900 bu. The Harris Gates
review says that If the new crop Argen-
tine wheat should maintain it's present
high promise for the few remaining weeks
to the completion Of the harvest there it
would mean further unsettling of prices
the world over If the new crop grain that
the Argentine dealers are now so willing
to sell for delivery between January and
March should prove up to the expectations
It would prove a troublesome competitor
with that grown in this country. For the
year to date the Argentine shipments from
the last crop have aggregated 60,544, 900
bu, and 1t Is expected that there will be
fully 100, 100000 bu available for export
from the new crop. It Is Of the deepest
significance now that export sales of our
wheat are light after such an importa mt
decline. 1t Is important that we make UP
the shortage in exports caused by keeping
prices at an unnatural level thru the first
four months Of the crop year. There is
possibility, however, that exporters sales
nave recently Deen larger than have been
made public.
The weather map shows lower temper
atures in extreme northwest with Win
nipeg 10 below: Williston below. Very
little precipitation in the spring wheat
states and there was none at all on the
Sunday map Light scattered showers in
Missouri, Illinois, Nebraska and Iowa. and
heavy rain in the Ohio Valley. There is
not precipitation enough to interfere with
the movement of spring wheat. Condi-
tions will be considered more favorable
for corn curing.
Primary receipts were 1855, 900 bushels
against 1852, 00O and shipments were 741,
600 bushels against $4,000. Wheat and
flour clearances were $780, 900 bushels.
The market closed easy at recession
from Saturdays close December wheat
closed at 77Ssc, May at THO and July
at 773s @771sc.
An excellent cash wheat demand was
noted, and millers and elevators bought
the No. 1 going at 1&c over Decembe1
for a good part Some low grades were
runso1d late, but most of the good lott
moved readily at satisfactory prices.