The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-11
December Wheat Goes Above
SLIT Today, Closing Strong
at $1.16%.
Many Bearish Reports at First,
but All Prove Inef-
fectual.
Bad News from Argentine Puts
Liverpool in Nervous
State.

Minneapolis Chamber of Commerce, Nov. H.
Traders in grain who had read the government
corn report and noted the large indicated yield,
the high average per acre and the high quality,
rather expected decline this morning in both corn
and wheat. When they saw the indication for
good weather tonight anu tomorrow over the
northwest, and the rain relief reported from some
parts of the southwest they felt assured that
decline would follow. When the secretarys Of
flee reported that stocks will increase for the
week by 1, 100, 900 blu they become openly bear
fish. and on the receipts of 567 here against
$50 year ago they sold the wheat short stin
the market cid not brenk, but held around
H16h CLICK for December and 81 1855 @1.161a
for May. The wheat offered was readily alb
sorbed and there appeared to be good support
under the market. The news against an
advance in the main, but one item stood out
prominently on the strong side--an Argentine re-
port of unfavorable tenor. Broomhall cabled
that his advices while noting the continued I'M
favorable conditions, excessive rain and the need
of dry weather. held that the crop outlook is
still satisfactory In general This was onset
by private Liverpool advices of q more serious
nature. They told of frosts In the province
of Buenos Aires and of damage to the wheat In
consequence. Liverpool was hesitant but firm;
and inclined to advance, and was up about Ad
by midsession r..-..,.
The old still in farmers hands, about 3d.,
100000 bu, Is '4.6 per cent of the crop of 1908,
which Is favorable showing for the corn bulls.
as against reserve at this time last year of
81 per cent, but this item not important
enough to Offset the quality, which is btgh.
averaging s6.2 per cent against s3.1 year ago
The yield the big bearish item, the report
indicating about 2.453. 900 600 bu.
Receipts in the northwest about stand
of, or TIE cars against 1865, the increase Of n
cars in Minneapolis being almost Cancelled by Du-
luth with 205 compared with 276. Chi
cago had 20 against 1872, st. Louis 52344 bu
against $685. and Kansas City 999,OOO@ bun
against 1557O0 Winnipeg received 274 cars
against 260, of which q were No. i northern, 90
No. northern 81 No. northern and 104 lower
era des.
Primary receipts were 100000 bu against
1.414ooo; shipments $4,000 against es5,ooo.
Wheat and flour clearances 1O5 900 bu
Kansas City wires that 1913 sections in Okla
homa and Kansas only received 1000 bushels
yesterday In the heart Of the wheat country.
This means less than fifty day in Kansas
City next week. . 81
Broomhall calculates that Europe will likely
need $50, 900 900 bushels Of American corn tie
coming year: American shipments last year
amounted to 900 bushels The French oats
els, against ao9:9so 900 bushels last year.
>tan he Modern Miller says: Altho the precipita-
/ sral In the, winter wheat territory and the
Z drought conditions relieved. Where seeding was
prevented by too dry. soil work has begun AND
VIII be pushed vigorously to enable farmers to
finish before winter sets in. Hessan fly com,
plants are still heard, but not to such all extent
as before the rains"