The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-30
Flour Buyers Hold Off on Ac-
count of the Uncertainty
in Wheat.
Australia Ships 1,432,000 Bushels
for the Week and India
100000 Bushels.
Armour Supports Chicago May at
90c-Domestic Conditions
Remain Strong.

MINNEAPOLIS Chamber Of Commerce. Jan.
So-An easier feeling and a moderately
lower price range were noted IN Wneat at
the start this morning. The war news was
less alarming and many sold out~ long
wheat, fearing to stand over Sunday. rms
put prices off about &C. but after the
selling was over the market settled INTO
steadiness around S9ho for Minneapolis
MAY, For all that the war gossip was more
pacific the Liverpool wheat market was
firrner and up asd. The domestic stat1stlcs
were favorable to strength. But IN ad-
dition to the big Argentine shipments OF
Yesterday. which were in excess OF 1000
600 bu. there was a total Of 1,432,000 bu in
to-day's report of the Australian move
ment for the past week, and 4SO,Ooo pu
In the India report. In the week previous
India sent out 900 blu. and In the cor
responding week last year only $4,000 bu,
and Australia shipped 1,096,0O0 bu IN the
week preceding this and nothing year
ago, so that the showing was bearlsh from
any comparison. Around 90c for chicago
Nav there were good buying orders and
Armour was thought to be supporting the
market. Trade was light in all the pits.
More snow fell over the Dakotas. Me-
braska. northern Kansas. Iowa and Hi
nois and temperatures are higher, making
the winter wheat outlook better.
Minnea polls received 24O cars against
900 Duluth IS against 81 and Chicago II
against 90. Kansas City had $4,000 bu
against 1000 and St, Louis $4,000 bu
against $4,000.
Primary receipts were $4,000 bu,
against $4,000, and shipments lSS.OOO
against 174,OO0. Wheat and flour clear
ances, with theh Galveston report missing
$4,000 bu.
The Commercial West says: Eve think
/; II Is the majority of opinion that Mime
polls will relatively be stronger market
than Chicago for the remainder OF the
crop year. This is not an easy point TO
pass on for the reason that Chicago must
/ be dealt with as the speculative head
quarters this year, and In which market
| there will have to be a settlement some
time before May if Armour compels it. The
question resolves itself down to whether
! when the settlement becomes active In
| Chicago that market will lead the north
I west or whether the scarcity OF contract
i wheat in the northwest will prove an Off
set and keep Minneapolis May relatively
+ stronger than Chicago. If northwest mills
! should close down it would help to equal
ize the situation and the effect would be
weakening on the market ....
Late in the session the market felt the
effect of the report that a number or local
-four mills will close tonight. When they
will resume grinding is uncertain, but 1t
is not thought they will remain down long
Buyers are said to be holding or, rearing
a big break in wheat and lower flour
prices. ,t,r~ -.
Minneapolis stocks decreased for the
week by 1899 bu, which brings the total
down to ,915, 924.
The market closed easy May at 99A c.
On account of the closing OF the mills
there was little demand from mlllers and
the cash wheat market felt the effect.