The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-02-11
This Forces Chicago May Wheat
Off, and Closes It 5sc Lower
for cne Day.
But in the Face of Selling, Mime
apolis May Gains a Frac-
ton.
Foreign Markets Continue Strong
The Flour Business Shows
Improvement.

Minneapolis Chamber of Commerce, Feb.
11.--HeaVy selling OF wheat, corn and oats
futures were noted in all markets to-day.
Chicago began 1t and brokers who often
trade for Armour were sellers. hence the
inference that Armour was selling out. A
good many tailed on and sold out long
stuff, and Minneapolis May wheat was
soon full cent off from yesterdays high
point at 9514c. and was selling at 94Ac
and under. The bears hoped to force it
thru 94c. but the market turned on them
and by II o'clock was up to 945sc. July
sold around 90 sc and was stubborn, and
when it turned, in line with May. it went
to $3.50 quickly. Efforts to break the mar
ket have been made several times within
4 day or two, by bulls who sold out when
war began hoping for quick decline on
which TO reinstate their lines, and who
now find the market cents above where
they let go. and by bears who are playing
for three or fOur-cent shake out But
1t has been hard proposition to break
prices. This morning the pressure was
spread all around, covering coarse grains
as we'll as wheat. but the market was
resilient as ever, and inclined to bob up
when least expected. Berlin up
again by &c, Paris was 1ac higher, and
Liverpool unchanged to 1sd up.
Receipts here were 2O1 cars against 2S3
last year, and the usual proportion Of win
ter wheat was noted. Minneapolis stocks
have decreased about 100000 blu. Duluth
got ~ cars and Chicago IS. Kansas City
had $4,000 bu and st. Louis $4,000. This
date last year was a holiday, hence no
comparisons.
Kansas City wired that there is COM
plant there Of inability to sell flour, and
millers say wheat Is too high. Neverthe-
less inquiry in the cash trade brought out
the fact that one Kansas City grainhouse
sold in two days, H. cars of milling wheat,
to be shipped from that point to mills in
the eastern and east central states, and
theye is continued milling inquiry for
wheat.
The Michigan state report says IS per
cent of the returns show no further seri-
Gus damage to winter wheat, and the De-
cember condition for the state is put at
SO. The Iowa state report was of inter-
est to coarse grain men, showing stocks
of oats in dealers hands to be 100000 bu
less than last year, and stocks Of corn
100000 bu less. There was snow in the
Ohio valley but no precipitation Of i'm
portance anywhere else. Cold weather is
still reported over Kansas and Oklahoma,
and at Concordia. 2 above zero was re-
corded. The Price Current says the
northern half Of the wheat crop is favor
able and the southern portion variable.
Altogether it is fair but of small growth.
There is slightly increased tendency to
hold corn and wheat. Large acreages of
spring crops are anticipated in the eastern
states. Rough feed is generally plentiful,
but consumption is now heavy.
Primary receipts 432, 900, shipments 4S4,
900. Wheat and flour clearances 232, 00O
bu. '..-.
New York -four mills are now said to
have. sold a quantity Of flour yesterday
equal to a three-day output.
Tomorrow being a holiday, the traders
were in very uncertain mood near the
close. It is realized that the news over
night at any time, may be all powerful
now that the war is on, and there is addi-
tional war talk from another quarters
Turkey and Bulgaria are reported getting
closer to a clash. A Paris newspaper hac
sensational article to-day dated al
bucharest and stating that Bulgaria Is
nrobilizing troops. This had some effec
on the bull side.
The forecast IS as follows: Illinois, Min
nesota, snow flurries tonight and Friday
warmer. Michigan. Indiana, fair to-nigh
and Friday. Missouri, Wisconsin, Iowa
Kansas, ,Dakotas, Nebraska, cloudy to
night and Friday warmer. ..
Armour reported the sale Of $4,000 bl
No. 1 northern for direct shipment at 96A
+. o. b. S..
The seaboard reported Is loads whea
and is loads corn sold for export.
May closed at 94%c; July at 93% @94
and September at S4hc. ...--