The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-05
Early Weakness Gi0es Way to Strength
December Wheat Sells Of to
$1.127s, but Closes the Day
at $1.1334.
A Bearish Feeling in Chicago and
Much Pressure Is
Felt.
Northwestern Receipts Last Week
About 1900 Cars Under
Year Ago.

Nov. 5.IWheat fell to 81. 12N for
Minneapolis December, soon after trad
ing began today, then frmed up a
fraction and held steady around
ST. 1875 al. 1871. AS was the case yes
terday so again today there was much
against the market The weather was
good and the predictions favorable, re,
ceipts here larger than year ago, and
the big leaders were putting on the
the Rock Island road, in winter wheat
territory, reported traces of rain, and
dry weather and hessian fly reports
were not so numerous on the whole. Ca
bles were sharply lower, Liverpool I'D
off The world s shipments report is
Monday and it is likely that Russia
will again figure heavily. Receipts
here are also expected to show up less
bullish, as there were 965 cars in on
the day last year corresponding with
. Monday next and it is thought that
this will be equaled and possibly sur
passed this time. There was therefore
buy it, in the early news. Later on it
developed that the weather in France
is too dry for best results. The south
west also sent out a favorable note,
Kansas City reporting recent sales Of
almost 100000 bu cash wheat to go
to Buffalo, and as cash wheat has been
slow and weak for some days, and the
low grades were slow here today, and
as this cash market weakness has been
very largely the cause of the declines
in futures, the Kansas City report was
taken to indicate that the worst has
probably been felt in cash wheat and
that improving markets will be the
feature from now on.
The bulls certainly have something
to go on in the showing of receipts.
Prices are high and should induce lib
eral selling, and for the past week or
ten days the weather has favored q
free movement. Yet for the week just
closed Minneapolis and Duluth received
4.961 cars: A year az. in the same pc
is a falling off of 1,192 cars in week
favorable to large receipts. 1t is clear
from this that a period of bad weather
could easily make a showing that would
look very bullish by comparison with
last year.
For the day Minneapolis received 594
cars against 81 gain OF. Al cars, but
against 1928, and Chicago fell off again,
$4,000 bu against 10000; and Kansas
City. $4,000 against 174,0OO. :.
Minneapolis elevator stocks in
creased for the week by 1,190,637, MAX
increase is about 100000 bu
Primary receipts, 1,o6s,ooo bu,
against 1,aos,ooo. Clearances, wheat
and flour, 100000 bu.
Rumanian advices are that the off
cial prohibition of the exports of oats
have been rescinded. Australian ad.
vices are that the weather continues ia,
vorable.
The weather map shows it generally
clear over the west, northwest and
southwest, cloudy in the Ohio valley
and some rain in Texas. Temperature
Canada, 26 to a; North Dakota, "a
to %; South Dakota, 80 to SO; Mime
sofa, % to 40; Iowa, SO to 40; Nebras
/ A. to 40; illinois, DO to ID.
The forecast is as follows: Mime
sofa, Dakotas, Nebraska, Kansas
Missouri, Iowa, Wisconsin, fair igh
and Sunday warmer; Illinois, fair to
night and Sunday except threatening il
north portion tonight; Indiana, partly
partly cloudy tonight and Sunday
Bhowery north portion.
Broomhall cabled: "FCheaper offer
ings Of the new Argentine crop caused
an opening decline of II in Decembe
and &c in May, later liquidation il
december by large hrm caused
further decline Of &c in December am
sBc in May. A good demand for Argen
tine corn cargoes from continent as wei
as q good spot trade caused stead,
opening with prices unchanged. Late
January advanced I'D while Decembe
continued unchanged from opening witt
lit undertone Of market strong.
The Logan Grain company of Kansa
City had the following from the Nc
Guire, Milling company, Hiawatha
:. Replying to yours Of the Sd, will stat
that farmers are beginning to report
great many bugs in the growing wheat
They do not seem to know whether it
heseian fly or something else, but it i
sausing uneasiness. Corn not Yer
heavy crop, but good quality.'
A message from Casselton, N. D
says: "The big Oliver Dalrympl
q farm, located here with 5000 acres o
wheat, this year averaged 81 bushe]
per acre, three cars of which graded NJ
! northern and the balance No. 2, NJ
3 and No. 4. Last year the whea
yielded 1912 bushels to the acre and
all GRADED, No. northern and No.
hi northern
December closed at $1.1aA and Ma
at $1.143s.