The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-04
MAY WHEAT MAKES A NET LOSS OF l.N TODAY
Closing at S6ssc, Against Saturdays
Close at S65sc-Market Very
g4f Erratic.
At Low Point, May Was Down 234c
from the High on the Curb
pNt Saturday.
News from the Seat of Prospective
War Not So Bullish as
sI@ Last Week.

MINNEAPOLIS Chamber Of Commerce, Jan.
a,TOne cent came off the price OF May |
wheat at the start this morning. from
$3.50 the close on Saturday, the market
was down to S53sc and this was 2$sc |
down from the high point on the Saturday
curb when May sold here at SSc. A
rumor broke out in London that the Rus
sian reply to Japan will be sutflclently
conciiatory to avert war. BRUSH con-
soils Jumped peg, International STOCKS
took on a more buoyant tone and TINS
found prompt reflection in New York,
where instead of further break III
stocks there was rise. Selling OF wheat
was the natural sequence. Armour came
to the front and center and supported the
market in Chicago There We're lew Dig
lots offered and no selling in heavy way.
II was the rapid-tire sort OF liquidation,
the offering of numerous little lots, most
of which showed good profits on the SELL
ing. Liverpool was up full penny, which
was not a bad response, altho many
thought that in view Of the imminence OF
war Liverpool ought really to take the
lead of all markets. A strong showing
was made in the worlds shipments tg-
ures the total being S,64S,000 bushels.
of which half or 4,312,000, was shipped
from America. The quantity of bread
stuffs ahoat for Europe decreased by
1,24S, 900 bushels.
Minneapolis received 513 cars against
692 Duluth 161 against 100, and Chicago
81 against II. st. Louis had 1874, 900 bush
els against 1T 900, and Kansas City 900
against 81, 900
After the subsistence of the war news
there was renewal of bull talk along the
old lines-that wheat is going higher any
way on other conditions, and that, While
a war would in all likelihood bring an adj
vance weeks ahead of the time when 1t
would ordinarily come, the passing or the
war factor would not necessarily mean
q permanent decline, nor would the con-
tention Of higher .prices--made long before
the war cloud arose and based upon sup
Div and demand conditions in prospect
be in any wise affected.
The weather map this morning showed
light traces Of snow in Iowa, parts OF mis-
souri,. Nebraska and trace at one POM
ine Kansas Precipitation shown TINS
morning was very light and unimportant.
The Sunday map showed general SHOWS
east of the Mississippi river and good
SHOWS in the Ohio valley. The Sunday
map showed no precipitation in the SOUTH
west The temperatures this morning are
seasonable The map is a favorable one
for movement, but the southwest IS SILL
without the needed moisture.
A Chicago grain house wired late IN the
session that on their bids in the country
they had bought no hard winter wheat
Meanwhile they sold SO, 900 bu to mlllers d
lie to 1hc higher than it could have Deer
sold for export.
Near the close Armour was again
buyer of May in Chicago
Primary receipts, 1,177,oOO pu agalns
a95. 900; shipments, $4,000 against 244'oo
Wheat and flour clearances Soa'ooo %
- with the report from Galveston missing.
May closed at $3.50, July $685. and Sep
TENDER at 7SMc.
Good trade was noted in cash wheat
the grade wheat selling well. The basl
was &c under May for the NO: L northel
lots and 81 M31ac under for No. north
ern. No. 3 wheat sold from SC to &c unde
the No. 2,