The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-10
After Selling to ST. 16ss@1.1611a
May Reached $1,16A-The
Tone Very Strong.
Receipts Lighter and Much Bet
ter Local Cash Wheat
Demand.
Liverpool Watching Argentine
and Inclined to Advance on
Bad Reports.

Minneapolis Chamber Of Commerce. Nov. TO-
Wheat went up again today, starting OF strong
and active. Trade was not heavy, but the
buying side had the better of it, and some shorts
came In on the upturn. Some traders believe
genuine bull market Is now on. Other express
themselves as bullsh, but still inclined to wait
for the cash wheat demand to improveme, and
the increase in stocks to show change about.
The big local bear item was the gain In Mime
apols elevator stocks, the figures for five days
showing increase of 100000 bu. This has result
ed from poor cash demand from millers and the
selling of most Of the wheat to the elevators
That this may change was suggested by the
receipts today, there being only 547 cars against
800, Minneapolis receiving 31S compared with
453, and Duluth ia against 1856. Chicago had
and Kansas City $1,000 against 900. The
quality of the wheat still runs low. and only a
small part Of the increase In stocks Is wheat
of contract grade. 49,.
The southwest stu sends bad news, but the
trade has not been scared. 1t is generally be-
lieved that the winter wheat has been injured by
the dry weather and the Hessian fly. but whether
or not in degree important enough to warrant
serious attention Is a matter In dispute. The
winter wheat harvest is far away that the
trade Is slow to bad winter wheat news.
Nevertheless, 1t is noted that some very good
firms in the trade are sending reports that are
unfavora BILE, and the more conservative trade
papers are taking note of the situation The
Price Current says: DRY weather has retaard-
ed and to extent injured growing wheat,
but not sufficiently to disturb the generally ia
vorable position. The corn situation is un-
future will be light under Indifference about sell
ing at current prices, regarded as low relative to
wheat"
Broomhall sent advices Of unsettled Liver
pool market, Influenced very largely by reports
from Argentine which, while not alarming, 1nd1-
cate that the harvest has been set back by about
two weeks. The bearish feature abroad is the
continued prominence of Russia as an exporter.
The Russian correspondent Of the London Times
says the railways of southern Russia are crowded
with grain to the point of congestion. that
blockades gre occasioned by the rush to the out
let and that 1000, 900 bu wheat went out thru
the Black in day recently.
The government report comes this
afternoon. Verhoeff had advices Of the sale OF
10000 bu No. 3 yellow at Tic in New York
Primary receipts-Wheat. $4,000 bu against
1893, 900. Shipments-Wheat, 774,O00 against
$4,000.
The weather map shows it showing in Ne
braska and raining in southern Illinois, Indiana
Tennessee. Kentucky and Ohio. Light rains ant
fell In South Dakota, Kansas Iowa, Mis-
souri,. illinois, Wisconsin aud southern Mime
sofa last night. Temperatures decidedly lower
In northwest and dropping elsewhere. The fore
cast: Minnesota, Dakotas. fair. colder in cas-
portions, warmer in Dakotas Friday. Iowa, part
" cloudy tonight. furries southeast, colde
tonight. Nebraska, Kansas, partly cloudy to
night: colder east portion Illinois, Missouri
Michigan. Indiana Wisconsin, partly cloudy to
night: probable snow furries and colder.
% December closed at $1.16h; May at 81 1875.