The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-10-17
An Increase in the Visible and
Many Other Bearish
Figures.
The Milling Situation at the
Head Of the Lakes-A Bear
Argument.
The Early Market Hard to Break
and Very Quick to
React.

Minneapolis Chamber of Commerce. Oct H.
All grain markets showed tendency to slide back
this morning. and both December and May were
off cent In price from Saturdays high point
With this there little evidence of weakness.
1t was as tho the froth was of the top and the
market steadies at the decline. December held
around $1.15A @115as, and most Of the traders
were inclined to wait for the Monday figures to
shape their minds, the visible change being
thought especially important. The bears met
disappointment In the receipts. for, while there
were ITO cars in here, this less than had
been talked Of ON Saturday. The comparison
here against 469 cars a year ago, but In
Duluth there were only 215 against $780, 50 that
the northwest had in all 176 cars more than
year ago, and this was not thought to be much
of an increase all things considered. The quail
ity Of the wheat showed no improvement. Fri
days receipts contained about per cent OF
contract wheat Saturdays per cent and there
was about the proportion in today's run.
Trade fell off. and at times the pit was dull
December sagged later to n.14% and May was
down to $1.15A. Considerable long wheat was
sold out
Worlds shipments were a bear feature, for
Russia showed up again with over 10000 600 bu.
At present, Russia is shipping at rate about
40 per cent heavier than year ago, the Danube.
Argentine and India are holding up to last year;
Australia Is sending out about 100000 bu
week against nothing at all year ago. and
America, with shipments of 1854 900 blu the past
week. is sending abroad one-third as much wheat
as ordinarily. The quality afoat. at 40, 064. 900
bu shows decrease for the week Of $4,000 Blu.
The southwest helped the bears. st. Louis get
ting 13s, 600 bu compared with 5000 bu; Kan
sas City 254, 900 bu against 10000 bu.
Minneapolis stocks increased o50,OOO Du Tor
the week. The milling situation will be Of
leading Importance from now on. If -four can
be sold freely, the price OF wheat Is all right
whatever the figure may be- but whether 1t can
be sold is question. In this connection re-
view of the head-of- the-akes milling outlook is
at hand, and is timely. In condensation 1t
Minneapolis operate when the Superior mills DO
not. ''If the Minneapolis mills can make money.
why cannot the Superior mills? If the great
number OF mills IN Minneapolis can run, why Is
1t that only one out of six Duluth-superior mills
is In operation? There is discrepancy between
wheat in Superior and the price in Minneapolis
On the start 1t I've bushel. The gap
wtdened until there difference OF &c a
bushel and it has not been below &c for a long
Be in favor Of Duluth. This means 221ac on a
barrel Of -four in favor of the Duluth-superior
product. The difference in the rates for getting
the -four to the east for the market is &c In
favor Of Superior and above Minneapolis.
Even at that, five out of the six mills-and six
most OF the time-remain idle
This the bears say indicates that the flour
trade is not generally good as 1t is thought
to be. On the other hand, 1t must not be for.
gotten that the head-of- the-lakes milling indus
try is in a half-moribund condition most Of the
in itself indicate anything bad in the general
trade.
The visible increased by 1892, 900 bu, making
the total %, 2OsO0O bu.
,Verhoeff had report Of sales Of oats for export
in Chicago.
The marriott sold down near Ca close and IA.
cemher closed weak at $1.141a; Nay 1t $114A.