The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-26
May Goes Down to $1.117s on Per-
sistent Selling, but Is Very
Stubborn.
Worlds Statistics on Monday Are
Likely to Run Much Less
Bearish.
All Eyes on Argentine Stocks In
crease Over 100000 Bushels
for the Week. .a,.@

Minneapolis Chamber of Commerce,
Nov. 26.-The bears found it hard
matter to break wheat today, even tho
it was Saturday and the early tendency
was to sell out long stuff over Sunday.
May was off to around $1.l21a, but
held steady just above that mark after
the opening weakness. Later it went
under $1.12 on persistent sellino. The
news was not important and
trade was light. The most
significant thing was the firm
ness of Liverpool, that market not only
holding the advance of yesterday, but
coming sd up and closing I'D higher.
in Argentine advices OF bad weather,
for after an advance Of 11sd in Liver
pool yesterday the chances were IN
favor of part reaction today rather
than another advance. Armour s late
cable made the weather good again and
suggested that the worst may be over,
yet traders would not venture far on
that conditions in Argentine are not the
most favorable even tho it is doubtful
if material damage has been done.
Broomhall looks for less bearlsh fig
ures in Mondays report, and says
worlds shipments will run to about
!, $500, 900 bu. This would be, 100000
blu less than last week, and it the de-
e crease SuOul(t De SuO"u W w ~ LII
cipally due to a lighter movement from
Russia, as is Xix ely, it should be
strengthening to prices.
G. H. Hulburd, former president OF
. the Chicago Board of Trade, is quoted
as predicting higher prices for wheat.
Northwestern receipts again meas
sured up fairly well by comparison with
5l7 cars comparing with 4S3 a year ago,
and Duluth getting 143 against 200.
Chicago had 50 cars against So, Kansas
City 100000 bu against 5000, and
St Louis was closed for holiday:
Minneapolis stocks increased 841, 1872
blu for the week, and for one day to fig
ure into next week the increase is about
100000 bu.
There is a strike on in Argentine and
this, it is thought, may delay the Ar
gentine movement. s'Estimates Of the
Argentine wheat crop, about which
there is some nervousness in wheat
trade circles, agree that it will aggre-
gate about 135,000,000 bu," saws the
Record Herald, "and that there will be
from 11o,ooo,ooo to ll5,oOoaooo bu
available for export. Figures from Ar;
sgentina, however, are usually checked
off and revised later, after the crop has
been moved. The last two crops were
officially estimated as practically the
same size. Nevertheless from the last
scropOf 11S, 100000 bu there has already
been shipped a total of 9O,000,0O0 bu
and it is estimated there are 100000
bu yet back, available for export. From
the preceding crop of 100000 bu
there were shipments of only 63,OOO,OOC
The Argentine situation is hard t.
figure out, as the cables are very con
T flicting. This morning Armour's Ro
sario cable SAYS: "Weather BETTER
New York wired: HPrivate Argentine
cable here says weather unsettled
Another cable says: "Weather i'm
proving, but strike interfering will
business The Harris Scotch Argen
tine cable says: "Weather very ia
vorable but fear strikes in January
And in Liverpool Mendel, Dreyfus s
Dobells cable reads: Ella Platt,
weather, improving but fear strlk
Primary receipts, 1,O7S,0OO bu; las
year, 1881 900. Wheat and flour clear
ances, 218,000 bushels.
Toledo has a cargo of wheat in from
Duluth this morning. The distribution
to unusual places still keeps up.
The forecast reads as follows: Min
nesota, Iowa, Wisconsin, Indiana, fai
and cool tonight and Sunday; Nort]
Dakota, rising temperatures Sunday
: South Dakota, fair wright and Sun
day, cooler; Nebraska, Kansas fair to
night and Sunday, warmer in western
portion Sunday; Illinois, fair tonigh
and Sunday, cooler in extreme southern
portion tonight. .-.
December wheat closed at $1.09, Ma,
at $1.12A. -. -.