The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-12
Minneapolis Gets LOOP Cars and
Everybody Turns Bearish
at Once.
The Government Report Bullish,
Altho Big Houses Figure
Otherwise.
May Goes to $1.1014 and Acts
Heavy ALI Thru the
Session.

Minneapolis Chamber of Commerce, Dec. H.
Big receipts pressed upon the wheat market
touay, senuins minneapolis May of about I've
tariy, to $l.luA Ul .lO9s. Posted figures showed
l,vo4 cars received in Minneapolis or nearly
lonbie the quantity .ot year ago today, This
mace everyone bearish, and selling became
heaVy: Inc big movement has certainly been
4 nard proposition tor the bulls, and were it
not for nrm belief IN the ultimate working cut
OF stronger supply situation, they would have
given PIP long ago 1t is fair statement, how
ever, that this movement cannot keep up indea-
Aitely: The northwest from all reperts, had 4
short crop last year, yet, If man knowing moth
ing about 1t should take the Minneapolis re-
ceipts to date and compare the figures for the
corresponding time last year, he might readily
suppose that the production really had been much
larger: Here, then, is where opinion has split
little: One element in the trade looks at the
big movement, holding up day after day right
UP to this Morning, and sees the accommodating
stocks In Minneapolis elevators, and concludes
that wheat is a bear proposition, Another ele-
ment sees a strong situation developing under
the surface: There has been long, unbroken
period Of the finest weather to facilitate the
movement OF wheat to market, and with 1t q
range OF prices that must have been attractive
to the faEmers The result, it is argued, will
show up later in exhaustion of supplies in the
country,
AS to the government report, 1t cannot be
doubted that ordinarily 1t would have been her.
aided as bu!lish. but too many btG Chicago houses
put Q baarish Interpretation upon 1t and infu.
enced trade opinion that way, A. a matter of
fact, the country raised a poor winter wheat
crop last year, starting In with 81, 000 900 acres
and a condition Of s66 on Dec, /. This year 1t
starts off with 81, LOS, 900 acres and a condition
of sac, This Is 81 points under last year, 1913
under 1909 and e,2 lower than the ten-year aver
age, and If such report Is not bullish then
government figures are not worth much. Rough
y figured 1t represents about 81, 000 900 bu lesl
wheat than the Indication Dec. a year ago.
but bearish construction IL put upon 1t fol-
the reason that about 10000. 900 bu more winter
wheat than was actually raised last year.
Stattstically there was considerable Of bearish
color IN the days figures. Worlds shipments
were lighter, however, 92ss, 900 bu against 10,
100000 bu last week, and the amount on passage
at 30, 10 900 bu, decreased by 800, 600 bu
Russia came In again with big total, 1906. 0ot
bu, The l,062 here looked mountainous
beside the $50 year ago, Local stocks In
creased $4,000 bu for the two days, Duluth
received IS oars against a. and Chicago 81
against u. Kansas City had 128. 900 bu. com
pared with 10000 bu st. Louis $4,000 BIT
against 161, 900 bu, and Winnipeg. 264 car
against SO year ago. OF the Minneapolis re
ceipts 80 cars contained Canadian wheat.
The forecast Is for snow over the principa
winter wheat states,
Primary receipts ], 5So 900 bu against 990, 900
Clearances 100000. .4sss
The weather map shows snow in Canada, Nortl
Dakota, Iowa, Missouri, Illinois. Indiana: Ohio
Tennessee and Kentucky; clear In southwest
with temperatures generally lower. The fore
cast: Illinois. Indiana Michigan Wisconsin
Minnesota, Iowa. Dakotas Nebraska probabl,
snow furr.es tonight and Tuesday. Missouri
cloudy tonight and Tuesday. South Dakota, snow
turries tonight; fair Tuesday. Kansas, fai
tonight and Tuesday,