The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-09
This Firms the Market and Holds
It Against the Closing
Sales.
Local Statistics Still Bearish, but
Some Outside Bull
News.
Government Report, to Come To-
morrow, Is Being Anxious
ly Awaited.

Fl Minneapolis Chamber Of Commerce, Dec. D.
Something of relief for the southwest appeared
in the slight rains that fell last night AROUND
wichita, Kan, and Springfield, Mo-. and the
forecast which, while indicating fair weather 1or
Nebraska and Kansas, promises some preclplta''
ton in the form of for southeastern Iowa
and portions of Missouri. Illinois and Indiana.
This is far from the relief needed, yet IL real
lied. it will put at least a temporary cneck
upon the nervousness which has been increasing.
Tomorrow will bring the government report ana
until that majority in the trade Will
not do much. If the condition of the growing
winter wheat on Dec. l is shown very low 1t
may cause the big interests that have been
opposed to advance to change over. me
news meanwhile, favors the bears, ana nearly
every item this morning of depressing ma
ture. Liverpool dull and easy, and Liver
pool and London cables and Argentine advlces
70 Armour, said that the weather had again
turned favorable and the outlook was better.
Broomhau offset this in part by summary of
conditions covering the movement to market ana
the statement that at Argentine ports receipts
from the interior decreasing. The European
shipmens from Argentine for the week bore this
out, only 900 bu going forward against 92O,-
5000 last week, while corn shipments were 1,92S,-
5000 compared with $3.50, 900.
Minneapolis statistics continue bearish re-
eeipts again running ahead Of last year, at Dol
cars against 897, while stocks will increase for
the week by something like 1900. 900 bu. At
Duluth the run also larger. 1873 cars against
40. Chicaog had 80 cars compared with 62.
st. Louis $4,000 bu against $4,000, Kansas City
900 bu against 5000 and Winnipeg l24 cars
compared with 154.
Primary receipts 100000 bu against 100000;
shipments 400. 900 against 2s5.0OO.
India shipments for the week estimated at
96s. 600 bu.
The market was very cratic and fuctuating
over a range Of 1Ac. May sold from $1.12h to
$1.13B, back to S111h and to $1.12A with
trade mixed and the pit undecided and following
every turn.
The Modern Miller possible relief for win
ter wheat but comments unfavorably upon exist
ing conditions as follows: 1.-THE winter wheat
crop has suffered from another week Of absence
of moisture in the southwest having given
little relief. Weather conditions have developed,
however, that promise a general breakup in the
drought, and which should be of great benefit to
the crop"
The Chicago Record Herald says, lone Of the
bull cards in wheat is the estimate Of northwes-
tern country elevator stocks attributed to Brad
streets announcing decrease Of 100000 bu,
which would make the stocks Dec. about
4,576,00O bu, compared with o,63e, 900 blu a year
ago. when there Increase Of $780, 900 bu In
November. AS the elevator line managers IN that
section for several weeks declined to give out
figures Of stocks hand, the estimate was as
sumed to be a guess
Near the close the report came that Milwaukee
millers had bought 100000 bu cash wheat in Chi
cago and had ordered it out. This flrmed the
market and held it against the selling of the
close.
May wheat closed at 81 1928 and July at 81. -