The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-06
Traders Afraid to Venture Far
Either Way and the Market
in Narrow Range.
Armour's Actions Closely Watched
but His Real Position Is
Not Clear.
Exports for the Week Light-For-
eign Markets Steady-Modern
Miller Bearish.

Minneapolis Chamber of Commerce Feb c.
With frmer cables and reports of some damage
to wheat In France, the speculative wheat
ket opened firm this morning and fraction up
from the close of yesterday. Liverpool was
hrmer and l2@&d up at the close. Antwerp
closed &c higher and Paris was up Is centimes.
All the early continental cables had little to
say about the French crop, which had had to
stand frosts in places, but the trade 10th
to believe there could have been much damage
with Paris on decline yesterday and showing
only moderate recovery to-day. In OWN
country there seasonable temperatures,
with light SHOWS in Kansas, Nebraska and Iowa.
No precipitation was shown in Missouri Illinois
or in the Ohio valley. California had rain.
The figures of yesterday, giving 600. 900 bu
the estimate for Argentine shipments, were too
high and the official report this morning showed
total of l.2I4O00 bu This compares with
shipments of 1850. 900 bu last week and 5ss, 600
bu a year ago. In the Chicago pit there was
much hesitation seen which found reflection
here. Armour was in the market. There was
every evidence of Armour activity, but whether
he was on the buying or selling side was diff
cult to determine. One report would make
reported selling again. New York had twenty
nine loads sold in the early business. Primary
points had 495. 900 bu, against 1856. 900, and
shipped $4,000 bu against 100000. Minneapo-
lis had 253 cars, against 20S last year. and
Duluth 81. against 70. Wheat and flour clear
ances, 4SO, 900 bu.
The Modern Miller says nothing has been heard
to Indicate that the winter wheat crop has been
injured by the recent freezing weather, which
extended over the greater part of the winter
wheat country. In the northern section of this
belt the plant was well protected by snow. but
elsewhere there little covering. Pros
poets in general from the Atlantic to the Pa
cihc coast, appear to be seasonably good. The
scarcity of Is checking the movement Of
wheat to market and is curtailing shipments
from the centers that mills which depend
upon the markets for their supplies of wheat
seriously inconvenienced.
ST.. Louis wired that in the last four days
that point has shipped out in wheat and -four
$50 900 bu more wheat than received. At this
rate, in seven weeks st. Louis would not have a
bushel of wheat in stock. -
Chicago wired: There appears to be consid-
cradle wheat for sale at 791ac and local traders
are shorting the market just inside this figure.
Armour is In the market. Liberal selling by
Tracy is being credited to him.
Rosario cabled that the eNportable surplus is
estimated now at about 63, 900 bu.
Bradstreet's figures show wheat and -four ex-
ports for the week of 3965,916 bu, against
4420O65 last week.
The market closed steady at 7lsc for May and
773s @7714c for July.
The good milling wheat sold we'll. Millers
were buyers of everything choice: No. north
ern sold at 17R @7&c. and No. northern aver
aged 761a @76S4c. There was good trade IN
small lots of no. . northern to arrive at 761s a
&c.