The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-10-04
Stubborn Against Big Receipts
and Bearish Figures from
Every Side.
Less Wheat and Heavier Move
ment Means Much Earlier
Exhaustion.
Winnipeg Had COB Cars Today,
Which Was the Big
Bear Item.

MINNEAPOLIS Chamber of Commerce. Oct. A.
The bears picked up their big Item from the
against the wheat market. 1t was the winni
peg showing of Cos cars in the days receipts,
against 2S2 cars year ago This they followed
cars against $50. These two were enough to
stagger the pit and send December off to 81 1875,
but just when the market looked weakest 1T
turned about quickly and was up almost a cent
In twinking. Such market stubbornness and
price resiliency has not been seen for some
time. If the bears are going to break wheat
they ought to be able to do 1t now. when the
stuff is coming in. There is less wheat than
last year. and 1t Is coming III faster. Here is
inverse ratio working for much quicker en-
haustion of country supplies if it continues. The
bears say they can wait, and that the long con-
tinued heavier movement will have Its effect
finally. The bulls see that heavy
factor No only matter h
fast the wheat comes in, there is only so much of
1t to come, and If it is rushed in. in quantity
well ahead of last year, the sooner will come
the inevitable falling off. Therefore II the bears
are going to break the market to any apprecia
BILE extent, this is the time they ought to be
doing it, for 1t is hardly supposablc that after
the turn comes and receipts fall OF that they
can then do It, OF course, much will depend
upon how long the heavy movement continues.
stead OF falling to pieces prices have hardened
right In the face Of It. Meanwhile 1t is Oct.
T. and getting along pretty we'll to the time
when the bulls may get active.
Duluth took the edge of big receipts, by fail
ing to come up to last year showing only 675
against 742 Chicago had only % against
113. Kansas City received $4,000 bu against
o5S.O00 and st. Louis 10000 against $4,000,
while Kansas City shipped 151 900 bu against
1SS 900. and ST. Louis Ill 900 against 81. 900.
Later in the session the bears got another big
statistical item In their favor-an increase of
9.s97 900 bu in the worlds visible. Bradstreet's
makes Increase of 1907, 900 bu east of the
Rockies and increase of 1900. 900 bu in Eu-
rope and afoat
The corn visible decrcas ed by $4,000 bu.
Primary receipts, 800. 900 bu against 1 537 :
900. Clearances wheat and -four, $4,000 bu.
BroomhallS weekly foreign crop summary re-
ports the weather generally favorable and fall
seeding progressing rapidly except In Australia.
where there continued complaints of drought.
The Indiana state report says: Corn prac-
but about 10 per cent of the crop in the central
sections in danger from frost. Wheat sowing
nearing completion.
The Illinois state report says Corn good prog
ress. One-htth exposed north and central i:
scarcely any In south. Much blown down and
considerable damage will Early wheat
of heavy growth.
Kansas City wired: Cash wheat demand slow
today. Buyers here have combination not t.,
buy for present They Will have to country
mlers will take it away from them.
Kansas City wired Pringe follows Have
talked with men who have connections all over
Kansas and Nebraska and they say so to 80 per
cent of the wheat has been moved and the
mainder will lbe waned by the home mills. Watch
stocks decrease.
December closed at $1.131a@1.13a and May
at $1.14lh al .141s.