The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-02-10
Liverpool, London, Berlin, Buda-
pest, Paris and Antwerp
All on the Rise.
New York Mills Sold Flour To-day
to Glasgow, Cuba and South
Africa.
Local Millers Get Some Top Price
Foreign Business Later in
the Day.

Minneapolis Chamber of Commerce, Feb.
1O--Wheat was up again this morning,
Minneapolis May and July making new
high points early the May option passing
e4a.c The trade has begun to see the
market more as q worldwide proposition. |
TO date it has been pointed out by the
bears that with all the strength on our
side foreign markets have been hanging
back, while competing countrles' as rus
STA Argentine, and Australia have been
shipping wheat in increasing quantity, the
exporters in these countries being actu-
ated doubtless by desire to sell their wheat
while the strength in American markets
was on. But more recently change mas
come over the general situation. AS yet
it is hard to tell whether the foreigners are
at last beginning to see that there has
been justification for the American
strength, whether the idea Is growing
that if the Observation-Disclosures war drags
along there may arise later on. some fac
tor interfering with the movement OF Rus
sian wheat The fact remains that the
foreigners are no longer pers1stently cry
ing down prices and holding back. In fact
the price of No. l northern wheat in Du-
luth was so close to working basis at
one time yesterday that the bulls had al
most began to hope that something would
result But whether America does any
export business at present, or not, prices
seem likely to hold Shipments OF 2OO0,-
900 bu week from Argentine and Aus
at immediate effect, yet prices have ad-
vanced in the face Of them. while to the
man who is looking ahead to next spring
and summer. the big competing ship
nents are not dscouraglng, as there IS a
limit to what either Argentine or Australia
can do. and the faster the wheat is
shipped out, the sooner the eXportahle
surplus is exhausted. Not for weeks has
there been such uniform, quiet strength
abroad. Liverpool was Is 0Ad up and
4 owls ~ Y
equal to sc. Berlin closed 3sc higher;
Budapest IA C up, London 3sd UP and Ant
Werp 3712 centirnes up, equal to about l1sc
g. bushel.
There is forecast for snow over a wide
area west and northwest, but for Kansas
the prediction is for clear weather. Moth
ing IS heard from winter wheat. No one
cares about winter wheat at this time
The plant may be all right, 1T is hardy
one But bare fields and low temperatures
are not the best conditions, and 1t Will be
surprising if something in the nature or
damage report does not come along later
in the season.
Minneapolis received 213 cars against
2S6, Duluth IA against 100, and Chicago
21 against 50. This is 227 for the north
west against S95 last year Of yester-
days local receipts 106 cars were winter
wheat from Nebraska and Kansas. st.
Louis had $4,000 blu to-day against $4,000,
and Kansas City. $4,000 blu against $780,
900.
Chicago will be closed on Friday, Lin
coins birthday. --.-..
Minneapolis stocks have decreased about
100, 900 bu so far this week.
After noon the report came in that New
York flour mills were entering orders at
top prices from Glasgow, Cuba and South
Africa. Inquiry in the sales offices OF
local milling companies brought out the
information that late in the day some for
eign business was entered here from
sources not heretofore reporting; from
foreign buyers who would not take hold
until to-day.
Wheat and flour clearances were very
light, only 27,S37 bushels. Primary re-
cepts were $40, 900 bushels against 535,
900, and shipments were 100000 agains
ISL, 900.
Near the close free realizing carried
prices Off about &c, but the market wa
very stubborn against decline.
In the cash market the feature was tn
small quantity Of wheat offered to arrive
Some No. 2 northern came out on the ad
vance, but little No. 1 was offered.
May wheat closed at 941a@94Nc, Jul,
at 1874 @9378c and September at S3Rc.