The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-01-24
Zero Temperatures Over Winter
Wheat, and Less Bearish
Activity Noted.
Big Receipts Are Still Great
Stumbling Block for the
Bulls.
Some Corn Sold for Export -
News of the Grain
Trade. -.s.r:

Minneapolis Chamber OF Commerce, Jan. "a
Cold weather in the southwest had some effect
s In wheat today making for early strength that
put May up to $1.l4A. Eight below zero was
shown in winter wheat territory. There was,
as matter of fact, general cold un-
covered winter wheat severe enough to warrant
fear of serious damage, but the fact that
there are bare spots and that zero temperatures
were reported from points pretty well south
served to turn the shorts to the buying side
Later on the winter wheat condition will be
the main influence, but 1t is too early yet. The
/. trade has long known that the outlook ID not
so good could be desired, and that the stand
Of the plant Is not strong and the acreage un'
der what might reasonably have been expected.
This has all been considered and has had
IT'S effect with other things. 1t is doubtful II
any sustained advance can be based upon winter
wheat reports until later, when. If the prospect
shapes itself many in the trade think it
will, there may be something doing. Meanwhile
! the bulls find their great stumbling block In
the receipts which holding up beyond ex-
pectations and today heavier at every i'm
portant point except Kansas City, where there
were only 600 blu against 21O,O 900. The Kan
sas City supply situation is very bullish, but
in itself 1t cannot affect sentiment much. The
Minneapolis elevator stocks, SO far from de
creasing, now show an increase OF 10000 blu
so far for the week. while the car receipts
today were 259. a big showing compared
with last year, when only 1a9 were in. Duluth
ran ahead with ~ against &c. Chicago had 43
against 80, st. Louis 81 900 bu against 20o0
aud Winnipeg 1888 against so. Total pri-
mary receipts 433, 900 bu against 482, 600
q week ago and so 900 year ago.
Minneapolis shipped 900 blu Of wheat and
63O17 brls -four. -.
The worlds visible. according to Bradstreet's
decreased by 2.83s. 600 bu. A year ago the de-
crease was only 1871 900 bu. E.rsE
The weather bureau weekly bulletin says
the southern limit of snow covering has moved
northward slightly ssince last week, the line
passing east to west along the Ohio RIVER and
thence directly west to the Rocky mountains
The depth is considerable in the lake region
and the upper Mississippi valley.
r Toronto message said: I'VE sold Mani
toba wheat yesterday In London Sd higher than
three days ago, and they are Offering the same
price for more of 1t.
New York reported Is loads Of corn taken
for export. '' -'...- ....'
.Clearances Ga, 900 bu.
sBroomhal foreign crop summary reads as FOL
lows: United Kingdom-winter crops in excel
lent condition. France Germany-Feared frost
has caused damage but complaints not
serious as yet. Italy, Spain, North Africa
Reports generally favorable. Hungary-More
snow wanted. Russia-Weather wintry with
abundant SNOW. Grain trade very dull; arrivals
at ports small. New misunderstanding late;
an average yield expected.
May wheat closed at $1.18N @1.14 and July
at Silly @1.11ts.