The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-06
WHEAT SCARS HIGHER THAN EVER.-MAY TO SO 3.8CCI|
Foreign Markets Take the Lead-The
Bull Feeling Is Becoming
Widespread.
Thirty-fve Per Cent Of To-day's Min
neapolis Receipts Was Winter
Wheat.
War Rumors and Much Excitement
A Regular Old Time Bull
Market.

Minneapolis Chamber of Commerce, Jan.
6.-Wheat traders were astonished when
they came down town this morning, to find
the Liverpool market up asd, and when
the second cable showed an advance Of
1a0$4d the bulls felt that day Of higher
prices was assured. For two days the
local market had closed lower, and yester-
days loss expected to meet with re-
Spouse abroad. Instead. however, all for
eign markets were UP, and when the pit
saw this there was a rush to make good
the difference, which by decline here and
advance in Liverpool, had widened the two
markets materially. May wheat having
sold down yesterday to" S5asc, and having
closed at S5Mc. was up to S71sc at the
opening and sold to s71s@S79sc on quick
jump Paris was up equal to l1aDlAc in
our money on both wheat and flour, and
London it now 55 per cent an almost pro-
looked to for explanation OF this, and his
early cable said there We're a number Of
reasons; that there were small Argentine
offerings, and a decline In consols import
ant in themselves. but of far greater inf1u-
ence was the unconfirmed report Of
skirmish between Japanese and Russian
troops On top Of this the Lloyds insur-
ance risk up another Is per cent,
much higher prices will rule, upon the sup
hibitive rate. In all American markets
there was strength, and wheat, corn, oats
and provisions We're higher. Considerable
Importance attached to a rumor that
an outspolen bull. and this along the old
line of bull argument, disregarding the
war prospects and basing the opinion that
much higher prices will rule, upon the sup
ply situation purely
Winter wheat is still coming into Min
. .neapolis in quantity. OF the cars inspect
ed IL yesterday los were winter. and it is
said there is as much coming right along.
To-day Minneapolis had in all 475 cars
against a49. Duluth % against II,
and Chicago % against 46. KAN
sas City had 253, 900 bu, against $4,000
and st. Louis $4,000 bu against 69, 900.
Minneapolis elevator stocks have increased
by about 9S5, 900 blu so far on the week.
The prediction of snow and rain thru the
west for to-day was not realized. The map
this morning shows a trace of snow at
Chicago and trace two in Iowa and
Nebraska, but generally there is no pre-
ciptation anywhere. The southwest which
is needing moisture has none. Tempera-
atures are higher and moderate. There is
nothing in the weather to interfere with
the movement but the southwest and west
Is without needed moisture.
A Minneapolis milling company that op-
crates a winter wheat mill, reports diff
Guilty in getting free supply of choice
winter wheat, and was to-day advised OF
the purchase of fine lot for which the
price was 96c, the highest paid for long
time
When the inspectors office gave out the
report for day there was big sur
prise about IS per cent of the receipts
turning out to be winter wheat, the fig
ures showing 1874 winter 299 spring and
macaroni.
London closed wheat 11sd to 1850
higher
Primary receipts 900 bu. against
COL 900; shipments, 100000, against 49,
600. Wheat and flour clearances equal
100000 blu. .,.......
The session closed with the pit excited
and crowded with traders and the market
strong and advancing Near the end
SS3sc was bid for May, After the close
which was at SSlsc, May sold on the curl
at SS1ac and calls were traded in at So q
4 931ac.
New York reported the sale of ~ loads
which was surprise, as it was no
thought any export business would bt
done after the advance, but there wa:
inquiry reported at other export points
" as we'll. -------