The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-11
Govt Report Bullish, Receipts Light,
Liverpool Firm and Rains
in Argentina.
olearances Gss 1000 Blu, and for the
Week 4,6o7, 900 Bu! Fair Elk
port Sales To-day
Modern Miller CONFIRMS Moisture
Deficiency Market Record Has
Bullish Summary.

AIinnea polls Chamber OF Connefce, DEG.
11:1Bad weather in Argentina, 3 bullish
government report and light northwestern
receipts were a trinity OF strong factions
in wheat this morning. The market was
fiensr. higher and more active, the bulls
We're again filled with confidence and vent
atsthe May with renewed courage But
Newmarket stuck at S1Hsc and it was d
hard matter to force it higher. Some dig
appointment was shown over this stub
ooriiiiess, forw llicil the bulls had reason
fory& satisfaction over the good recovery
from recent decline and the. firmness
shown. the advance was less than had
been expected. in view of the preponder
ance of strong items in the news. J<noH.l-
edge OF the heavy line held by Armour
and fear that at any time he may dunn
a bigslot and bring on a break Of a cent
or i've deters manyre. small trader from
coming in The selling in the local pit
about an hour after the opening looked
suspiciouslyS like Armour, and he was re-
ported to have sold a lot in Milwaukee.
This Armour nlanipulat ton is the great un-
certainty. Aside from this, and in the
news bearing upon prospective supplies
there is a decided change for strength
Chicago expressed surprise that Liverpool
was UP 1s@Xd, against our easier close
nfsyesterday, and said the trade there did
not understand it, but later Broom hal
cabled that adyices from Argentina We're
T bad weather, that sBuenOs Aires reports
I'd rain oyer a wide area. and that far-
restins operations are being retarded. Ks
70 the government report on the growing
winter wheat, the most ardent bull could
hardly have asked for anything more ia
Norable to his side. Against a condition
of 99.7 Dec. H. 1902, the condition Dec. l.
last, is found to have been $685., a decline
of ISL points. This, after all, Is the least
important part Of tho report, for early
conditions, however favorable or unfavor-
able they may be, always have the posi-
bility OF change as the season progresses,
but the area of 100000 900 acres compares
with an acreage OF $4,000, 900 last year,
leaving a loss of 2 200, 900 acres, not in any
likelihood to be regained. or offset by in
creases elsewhere. The Market Record mas
p summary: of northwestern conditions
that Is very strong in ITSELF and strong be-
yond all comparison, if one considers: thai
it is based upon an estimated yield OF
200, 10000 900 blu, while other estimate sare
lower and the Jones figures are for only
147100,000 bu.
Receipts here We're 3s7 cars. against 52S;
at Duluth 49, against 43. and at Chicago
90. against 81. a loss Of 1872 cars for the
three points. Kansas City had 95, 600, blu,
against $4,000, and st. Louis $4,000,
against $4,000. One bearisb item was the
estimate Of the New York Produce Ex-
change that the India shipments VIII this
week amount to 73S.000 blu, against :224, 900
bu. The bears also made much of the
increase Of about 100000 blu for the week
in Minneapolis elevator stocks, &whichil looks
large in itself, but is really small. by com
parson with the corresponding week of
last yes-. when. the increase was i 400 600
blu. Argentine shipped 100000 bu, against
424'0o00 last week and 112 900 year ago.
Eallida*s Of Cairo, I'LL. wired out. that
little snow fell there and In the country
adjacent there is lack Of sufficient. N DIS
flsre for. winter wheat. The weather map
shoCTs light SHOWS in Manitoba. Minnesota
Iowa and t5erXs general SHOWS in the Ohio
valley. These SHOWS are everywhere light
The temperatures are seasonable. The
SHOWS are nowhere heavy enough to in
terfere, with the movement but they are
seneral anoughs to. be favorable for the
winter wilea t in the Oilio valley
Armour reported the sale OF y2OO.OO05 bu
No. 1 northern c. i. f., Buffalo. Richard
son Of Chicago rcposted sale of 100000 bu
for export yesterday and to-day Wheat
and -four clearances $4,000 Blu, against
$4,000. and shipments 2s5,000 against
lie, 900.
The Modern Miller says snow has been
quite general thluout the central and
northern part Of the winter wheat belt
which offers. sea sonalle prot ectior: The
checked growth of the plant III most sse-
tiens will necessitates Plentiful moisture
and favoring weather conditions when the
plant enters the growing period next year.
4 Clearances for, the week were heavy,
1907 900 bu in all, against 1851, 900 bli
last week. With this there was a. New
York message reporting forty loads sold
for export and twenty loads corn The
market turned stronger and more active
near the close and May led but did not
hold at SIC, closing off a fraction.
The cash market was again active and
good demand ruled for all desirable lots.
December closed at,79A c, May SITS @
s1&c, and July. .Stiac..