The Minneapolis journal., 1905-10-11
Wheat Makes a Substantial Gain
and Holds It to the
End.
Receipts Much Lighter and the
Cash Demand Still Very
Active.
Foreign News More Favorable to
the Strong Side of the
Market. e.

Minneapolis Chamber of Commerce, Oct. IL
Light receipts at American primary markers anu
trmer Liverpool advices made Wneat STRONG 1i
today, a good cash demand helping materially.
Only 456 cars came in here compared with QUO
a year ago. Duluth getting 149 compared with
22S, and Chicago so against IS. The southwest
did comparatively better, with l95O0O bu against
141 900 at Kansas City and 70, 900 against o9'ooo
at st. Louis. Winnipeg had 391 cars compared
with 22e. The premium for No. northern Went
quotation, and No. 2 northern at &c under was
also In good demand. No. sold from 16c to
roc and No. from roc to 79c The closing
Liverpool cable 1a@Ad higher. Broomhall
said this due to hrmer offerings from Rus
sia and the Danube, and unprecedented de-
mand from Germany, Italy and Spain. Inc teel-
ing, he said, is very bullish The european
news Is coming more the side Of the bulls.
There is improvement reported In India, which is
rather bearsh now, with crops now promising
except in Bombay, where rain Is needed There
is also the estimate Of the Rumanian crop at
1000 600 900 bu against 50 900 900 last year, H.,
600, 900 in 1908 and 73, 900, 900 in 1902. With
the exception of q few such items the news
coming via Liverpool is favorable to the price.
The local market was not the only one experien-
cling good cash demand. No. red wheat was
quoted 9Oc in ST. Louis and at Ole In Kansas
City. An important influence for strength Is
the daily showing in -four. With 81 900
brls reported shipped out yesterday, something
much lighter was expected In todays posting,
but the figures are again we'll up at SO, 619 brls
The Bradstreet's figures showing an increase IN
the worlds visible supply of 9,250,OOo bu looked
bearish at first glance, but as this is the time
stocks ought to increase and as the gain last
year at this date 9,19S,OO0 bu, there was
really little significance to It, Local elevator
stocks for four days show an increase of 9O0,-
900 bu
leading Winnipeg authority writes h e
Journ q !: lone noticeable feature of the sit
uation at the present time is the very large
quantity Of wheat that is going in store for
farmers at terminal elevators. 1t Is doubtful
If half of the wheat passing Winnipeg has
been definitely sold. Farmers seem to have
faith that prices will be higher and prepar-
ing to hold for them when they come"
The local market was strong and Ac higher
on the small receipts all spring wheat points
and the unexpected strength displayed by Liver
pool. Shorts the best buyers, with offer
ings light Altho the market went above call
price the pit crowd watched Chicago closely and
followed the trend of prices at that market
rather than to sell against calls.
Chicago says there meeting there last
night of grain men Of central Illinois. They
were pretty unanimous as to the corn crop
being better than last year. few thought it
was 25 per cent better, and others Is per cent.
Clearances equal to ass. 900 bu.
The weather map shows low temperatures in
the northwest, with In Manitoba and
Duluth. Generally clear west and southwest
with low temperatures. Rains in Ohio valley
and eastward.