The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-10-25
News from Abroad More Pacific
4. and the Markets Less
Nervous.
Receipts Here Run Ahead Of a
! Year Ago and Scare Weak
+ IT,. Holders.
= g.
Selling Out of Long Wheat Gen
eral Before the
i Close.

Minneapolis Chamber Of Commerce, Oct 90
At sight Of an excess Of 125 in local receipts
this morning the bulls in wheat ceased their
aggressiveness and the market fell into a quiet
affair, with trade light and not much new buying
coming in. December sold off to 81 10 and was
steady around that point, for while the bulls
bought little the bears still had in mind their
scare of yesterday. and were hestant about sell
ing short. The foreign reports were less war
like and, Liverpool advices gave the impression
that the sian-English incident had shown It's
worst effect at first, and that nothing more was
to be feared In that connection. Liverpool was
of a little, but Broomhall said there was still
much nervousness over the political situation
and while every one believes that prompt set
tcment will BIO made the strained relationship
between the two great powers Is not reassuring.
The posting showed $50 cars against 334 In Min
neapOlis. Duluth fell behind, with 40S against
4S5 also Chicago with 90 against 1888. st.
Louis had 5000 bu wheat against $4,000,
Kansas City $4,000 against 304 900. The market
jumped later to $1.19Ts for December. on adtices
of snow at Fargo Comstock and other points,
and the fear that this might make receipts
lighter in the country. The Bradstreets report
showed an increase of 3,5oo,0 900 bu in the worlds
visible supply.
Primary receipts of wheat. 1.115,ooo blu.
against 1,229OO0 bu; shipments, $4,000 bu,
against 679ooo blu.
showers or durries Lake Superior;
warmer Wednesday. North and South Dakota.
Nebraska, Kansas. Wisconsin and 1owa-Fair
and warmer. Missouri, Illinois and Lower
peratures. lndiana-Cooler and fair except
showers in extreme southern portions; rising tenn
peratures tomorrow.
A Liverpool letter date Oct. 10 says: wheat
market is steady with a good consumptfve de-
mand. and while the market may remain quiet
during the month reason for very much
decline. The latest Information we have from
France is that native wheat Is not offered freely,
farmers being very firm, owing to the shortage
in the yield. France will, We feel sure,
import a large quantity of wheat. There Is no
doubt that several Of the Mediterranean and
Black sea countries will import wheat this season
thruout. Italy will require 100000 5000, 600
quarters and with regard to Austria, she Is al
ready importing, while previous years she has
been an exporter. Rumania will not give more
than 900. 900 Or 100000 quarters and south
Russia has much less to sell than last year. The
shipments from that quarter fairly heavy at
the moment but after the next week two
they should fall off. In any the wheat
she is now shipping Is required and 1t Is hard to
say what would happen If she not In the
field with the quantity she is shipping, because
Plate and the cargoes now arriving not at
all good quality. Australian wheat is held
above the market, and for the balance Of the
last crop now remaining she Is asking extreme
prices. South Africa Will probably get the
bulk of it. 1t remains to be seen If the re-
cepts in Manitoba will bring shippers into the
market. but at the moment they rather wide
apart
Near the close the market sold off sharply on
heavy business, trades between Woodwork and
Watson amounting to about 100000 bu in May.
December closed at $1.1S@1.1SA, and May at
$1.17A.