The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-03-22
Holds Strong and Active All Day
and Closes Higher, May
at 951Ac.
Closing of the Flour Mills and
Other Bearish News Has No
Effect.
Some Little Export Business Re-
ported-Gossip Of the Grain
Trade. -s

MINNEAPOLIS Chamber Of Commerce.
March 22.-Contrary to what might nave
been expected, wheat was hrmer ana
tritle higher this morning. May selling up
to 95c in q quiet market. The fact that
the flour mills will close down In part on
Thursday was used by the bears, but
without much effect. The idea that lack
of business has paralyzed the industry Is
hardly correct. It is true q number OF
large mills will close, and that -four busi-
ness Is dull, but this dullness has been
reported every day for some time past.
This, as a wheat market factor. had lost
its primary effect before the definite an
nounoement that the mills would close
was made. If any number OF mills are
to remain idle for any time It Is very
bearish thing, but whether this will be
the case remains to be seen. Meanwhile
Duluth is sending out reports a little more
favorable to cash wheat prospects, and
relative prices Of cash stuff in that mar
ket are more favorable for business. The
southwest had more rain, but the weekly
snow map shows no snow covering now
remaining south Of the Iowa line. It Is
time the snow was off. Still there was
Ct little fear that a cold snap might coma
along and start a scare. AS for reports
of conditions, the private advices were a
trife less favorable. Kentucky has q
winter wheat condition, according to the
Kentucky raises little wheat and is not
important. Nevertheless so low condi-
ton a help to the bulls, as many
naturally figured that If Kentucky could
not do better than 81, no very wonderful
showings need be expected in the later
reports from Ohio. Indiana and other
states.
: The northwest received SO4 cars against
145 a year ago, Minneapolis getting 242
against 1870, Duluth 62 against Is and
Chicago received 81 against 81. Kansas
City had $1,000 bushels against $4,000, and
shipped 141.OO0 against 10000. st. Louis
received $4,000 bushels against $4,000, and
shipped 900 against $4,000.
Liverpool closed A@asd off. Broomhau
said the firmness Of Argentine offerings
and the Kentucky crop report accounted
for the Liverpool frmness. Corn opened
and reclaimed unchanged, the effect Of
large arrivals Of corn being offset by it's
soft condition. The Chicago mood was
strong on wheat and the market mainly
up local professional buying. The
cables and the Kentucky report were the
helps.
Kansas City wired that estimated re-
ceipts for tomorrow are only 81 cars Of
wheat. Shipments yesterday, 157 cars.
Receivers and country buyers say they
are getting actually no new business.
They have some little wheat yet to come
in, but say the run Of old wheat Is about
over and they are beginning to cut ex-
pense accounts accordingly.
The worlds visible, according to Brad
streets. decreased $4,000 bushels. There
was a decrease of 2,29S,OO bushels in the
quantity east of the Rockies-offset in
great part by an increase of 100, 600
bushels in the quantity in Europe OF
atioat for Europe. "--~
Primary receipts were 478. 900 bushels
against $4,000, and shipments were 423,-
600 against 232, 900. Wheat and flour
clearances were $3.50 bushels.
s Near the close little export business
was reported by Richardson, whA said Of
fers made to the continent last night
were being accepted. This made little
firmness, and some short covering fol-
lowed.
= May wheat closed at 95Ac, July at s5est
and September at 82ss @82ko.