The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-18
Receipts Here Light, Visible In
crease Small and No Rain
Southwest.
Gables Firm, World Shipments
Light and Numerous Other
Items.
AS Result May Gains 14c, Closing
at 88Ac, Against 88c on
Saturday.

z Minnea polls Chamber of Commerce. Jan.
= t1S.--With the general tendency somewhat
easier and half the trade expecting set
back in prices, Armour held the wheat
market firm and the week opened with
Minneap polls May bid up to SS14c. 1t was
not a very hard matter to make the
market firm. OF the many who nold
wheat few care to sell A profit in sight
at present prices. attractive In itself, fails
in ma jority Of cases to induce selling
out as the average trader believes in
much higher figures before long. Hence
there was little pressure from this end,
while new sales on the short side were
very light. few daring to go short against
Armour and the war uncertainty. AS to
this latter factor the news was decidedly
less bulliSh and consOls were frmer, in
dicat ting that the feeling in England was
little more hopeful. The trade realizes
that war may begin at any time. This
possibility has been market consideration
for fortnight. But the very latest ad-
vices suggest a waiting period of some
length From Argentine the Wea Their ad-
vices were better. The southwest showed
Up 14l,OO0 bushels against 100000 in re-
ceipts at ST. Louis. and $4,000 bushels
against 70 900 at Kansas City. The market
was an affair of fits and starts. A furry
of quick trading would be followed by
- q ten or twenty minute period with moth
ing doing. Against this hesitation were
the clear weather southwest with no pre-
cipitation of Importance as yet, the fairly
responsive cables, and a run Of only 461
cars into Minneapolis against 1871 Duluth
had IS cars against SO. and Chicago 80
against SO. The falling off in Russian
shipments was a feature Of significance.
the weeks total amounting to 900
- bushels against 1854 900 in the previous
week. This reduces the total worlds ship
ments to 5,34t. 900 bushels against 1892 600
last week. The quantity of breadstuffs
afoat at 21,5S4.Oo0 bushels, showed de
crease Of 1850
Liverpool closed Il q I'D higher.
Minneapolis May wheat sold off from
SSA to S72iC. and then rallied to SSlsc
Chicago wired that this later firmness was
on reports Of enormous flour sales in Min
- neapolis. This it was impossible to verify
Millers reported the market just the same
with n business good for the season. bu
not especially heavy. One firm had about
1900 barrels in It's Saturday orders, which
was disappointing. but orders this morn
ing made I'D the difference and the tota
business satisfactory.
Minneapolis stocks have increased rs,
600 bushels for two days.
- Primary receipts were 900 bushels
against 99S. 900: shipments 255 900
against $4,000. Wheat and -four clear
ances We're 729. 900 bushels.
Kansas City and st. Louis sent in re
ports of damages to winter wheat from
dry weather. San Francisco wired:
Had heavy rain all over the state Sat
urday night and yesterday Here is head
line in morning paper:
State drenched by heavy downpour
Rain needed for long period visits th'
benefit Reports from all points from
benefit Reports from all points from
the south confirm above. This means
fine crop, assuming. of course. we will
have rains later in the spring.
The visible supply increase Of only 176
600 bushels was a great surprise to tn
bears, who had expected a much heavie
gain. Quick buying on this put Mime
apois May to 8S1s. The total in the vsib
is now 40.375. 900 bushels.
Near the close of the market it wa
subject for comment on the floor tina
thru the session the preponderance Of tn
news had been bullsh There had bee
enough bull news in all to start a boon
ordinarily. AS result the market game
&c. There is little doubt that there
fear Of Armour, fear that he may nov
r--~,he unloading or may already have. sol
out.
The cash market was in good conditio
and millers bought more freely. tatin
not only No. / northern and No. north
Iern. but No. 3. also, which latter grad
they have not bought of late.
May wheat closed at SSAc. July q
87A dDS73sc, and September at 79Ac.