The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-19
The eBars Have the Market Under
Control Al Thru the
Session.
Everybody Piling Over to the
Bear Side and Talking Low
er Wheat. @>
Commercial West Summary and
an Armour Milling
Report. 90. "

Minneapolis Chamber OF Commerce,
Nov. l9.-The close of the week brought
Minneapolis December, after an hour
OF trading, was off to $1.091a, May sell |
ing at $i.l2. December led in the
downturn and liquidation in that OPP
tion appeared not to have fully spent !
itself even at this decline. The feel
show of resistance. was made around
SLIP for May, but it availed little, and
on a break of December to $l09, May
went to $1.1l5s. Later the low points
, were touehed-$l.OsA for December
an s con be for fon May S fSe 1s
ceipts here ran a little ahead of last
year, at 5S5 cars against 537, and Du-
luth was close up with 220 against 258.
Chicago had A cars against 10, st;
Kansas City 10000 against AZ, 1000.
The Chicago news was all bearish.
The Commercial West says: eve
have reached that time in the crop year
when it is proper to take an inventory
of conditions. After three months of
marketing on the new crop it is always
possible to get some new light on the
) situation for the coming sixty or ninety
days. This week has brought out some
.bearish features that must not be over
looked. Russia has come into prom
inence unexpectedly as large shipper
of wheat. The total sent forward last
week was nearly eight million, and
about fourteen million bushels went for
ward from Russia in two weeks. If
that country is to continue even for a
month such enormous shipments they
will have sentimental effect on the
situation in the United States. We
regard Russia more of an immediate
price factor than Argentine, because
we know less about what her capabili-
ties as shipper are. There is appar-
emily no surprise in store from Argen-
tine, as it understood that good crop
is in prospect, altho it is early yet to
pass final judgment.
The fa1 marketings in the United
States also set out one or two bearish
stocks by country millers, considerable
of which has been bought at a high
price. Should the market turn into
material decline there would be a
tendency on the part of millers to resell
some of their wheat, which would add
siderable Pacific coast wheat moving to
the eastern part of the United States,
and one lot of Manitoba wheat. was
bought for Chicago this week, duty
paid. While these latter are not i'm
portant from the standpoint Of total,
they may have sentimental effect.
The returns from millers indicate that
no
make barrel of -four, as against four
and a half or whereabouts in recent
years. This point should not be over
f looked, for while supplies are increas-
ing, if this is the experience of millers
in general thirty or forty million bush
els more Of wheat will beconsumed in
making the same output than was con.
sumed last year.
The local increase was less than had
Is been expected, or 848,6 45 bushels. This
brings the total up to s,952,597.
peeeyh had the f90wfhg s dr3% ne Ar
8 The writer cannot see any merit il
the long side Of wheat at present prices
Hicks-Brown Milling company Of Mans
field told us a day or two ago that out
side Of seven cars, Oregon wheat which
they had bought as experiment, the:1
supplies in Ohio, the entire season. Thu
largest winter wheat mill in centra
8 Ohio has from 100000 to 100000 bush
els wheat. bought, enough to keep then
cal mills have bought several cargoe
of Washington and Oregon wheat here
and have enough to grind ninety days o
longer at present rate. Without excep
was worse: We quoted 100 miller
the Toledo grades of No. 2 and No:
red yesterday and secured orders TO
one single car. The fact is the loca
interior Ohio mlllers are conslgnin,
wheat to this market, at present be
ing unable to grind wheat and sell fou
to rs good an advantage as they cal
ship wheat '-~' ...-a's
A Rosario cable says Argentin
weather very fine. If it continues
week longer will have heavy crop o
wheat.
Primary receipts, 1,l7S,0OO bushels
against 100000 year ago.
The ticker says Broomhall estimate
world IS shipments for. the week q
100000 bushels.
Budapest closed &c lower. --.as
Weather map shows colder tempers
lures in the northwest with skie
cloudy. Elsewhere unchanged fro1
yesterday. The forecast: Minnesots
partly cloudy. and colder with rain 9
snow in east portion; North Dakot;
Nebraska, Kansas, fair, colder; Sout
Dakota, partly cloudy, colder; low,
partly cloudy and colder, with shower
east and central parts. Illinois, Il
diana, Wisconsin, threatening tonigl
and Sunday with probably showers
north and central. Missouri, partl
cloudy and cooler.
At noon there was sprinkle of raj
reported at Comstock, MINI.
THE FLOUR MARKET