The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-28
Liverpool sd Lower, in the Face
Of the American Gain of
Yesterday.
Receipts Here Very Light, Only
1914 Cars, Including Cana
dian Wheat.
The Government Final Crop Sum-
mary Expected Late
Today.

Minneapolis Chamber of Commerce, Dec. 2S.--
Liverpool kicked back again In wheat and
against the American advance of yesterday that
took Minneapolis May to $1l61a, the foreign tone
OF this morning was weak. Opening as@nd
lower, Liverpool was of I'D at the close. This
was too much for American markets to with
stand, and all were down, Minneapolis losing
cent and holding around $1.15h after the arst
hour The visible report, delayed by the crippled
wire service Of yesterday, came thru finally and
showed an increase of 1 1873 900 bu, which brings
stocks also Increased again, and while the daily
gain r. now much less than formerly, there Is
total increase so far In the week of $50, 900
bu. The big bull item was the Minneapolis
movement. Only 1914 cars came in. against 1855
year ago. OF todays total, ii cars from
Canada. Duluth had 237 cars against 1874, and
Chicago 81 against 65.
During the morning 1t developed that flour
trade was better than had been reported earlier.
Considering the holiday season and the fact
that the wires were crippled, the sale Of
10000 barrels by one company was good.
Estimates Of the crops will be issued by
the government this afternoon. The report
will give acreage and yield in bushels. and
will revise former government estimates. In
the October report the government announced
the average yield of spring wheat per acre
at 1871 bushels, subject to revision when the
final report was made in December. In Octo-
Der the average condition Of wheat was given
at 1871. In August the government estimated
the winter wheat as averaging 1928 bushels an
acre, and put the total at 33Goo,o0o bushels.
The yield of winter and spring wheat as
compiled at the time Of the October report.
654 100000 bushels, and the total area
a, 81 1 500 acres. of which 49, 500 acres was
spring and q 500, 900 acres winter The trade
expects a bulish report as the result of the
government revision Of spring wheat yield and
reduction of Its estimate Of low average
quality to bushels.
The report OF John Hyde, chief statistician
Ms to the quantity Of wheat available for mill
ing In the last spring wheat crop should also
come this afternoon.
The Record Herald says: $50 far
face indicati lions in the wheat pit may be
relied upon, the New York bulls. Gates and
his following. are not operating largely in the
market, altho some of yesterdays buying may
have been for them. But they have been more
or less advertising for some time. sending tips
TO the trade here that they going t.
stand pat on their holdings until the 31st O.
big advance. 1t looks as tho local trader
beginning to believe 1t and proposed t
get aboard. There is probably a large scat
tered short interest. and the short who pic
lures the reputed 2O,OOO.OO0 bushels holding
OF the New York crowd juggernaut whlc
could run all millon-bushel contrac
stock Is liable to moments Of nervousness. Ar
apparently against the advance, al
open seller of nearly 1000. 600 bushels, bu
1t Is hard for the trade to believe this inter
est does not at times do things with Its RICH
hand that It's left hand does not know about
and there was. therefore. more or less sus
picion that the wheat sold taken bac
the small reaction. There were none o
over sc. however. and few Of those: III
scalp would have been small one and
quick one II made. The buying apparently
was for the northwest and for local traders.
May wheat closed at $115B @1.15A. an
July S1.13A.