The Minneapolis journal., 1905-11-23
Liquidation of December Appar
entity Over and Interest
Turning to May.
An Argentine Gable Says the Crop
Prospects Much Less
Favorable.
Millers Do Good Flour Busi-
ness-some Of 1t for /
~ =
Export.

MINNEAPOLIS Chamber of Commerce, Nov. 23.--
Seven days remain for December llquut'
tlon. Wat wheat may do meanwhile VIII ue-
penu upon how ,noro nas been the cieaflns,ou.
process that has been, in operation almost SINCE
November opened. a great manu- speculators nave
hvlu retempcr Meet lneS looA,a &c., iot .rmonr
sort OF a squeeze i'll Chicago, where Armour
was supposed be out 10 bun IT 10 nhlsh.
NDens wheat. began to be attracted towards Chl
cosu and daily receipts ran heavier, anu Novsm
Der came in cnu Dec. i, delivery oaS, Desans ="
grow larger in the view, these holders VINO
would not want to- take over and pay cash Iof
the wheat, began to sell out. Some hung on
thru Sc and &c declines. a few were, still stub
bornly holding ON when prices We're &c down
from former nigh points. = here are al"aSss-a IL
few traders who having made PARTICULAR com.
Mitment,f never rum aand they usually dle mare
In the last french Wnen jDecember fell INTO tue
seventies the last of these determined bulls
probably succumted There may still be some
high priced long wheat held in December, but
best pit opinion is that it Is all cleaned up IL
this is the case the market ought to do better.
When an option moves up to delivery day with
severe liQudatOn on. there are always pulls
holding back and waiting for 1t to spend ltsel1
that they may buy into the more distant fn-
ture. Let December close very weak and May
is likely then to be a speculative purchase Tor
good turn at least. Whether to wait Tor tue
last day and a possible final smash, OF whether
best to anticipate n little are questions these
prospective buyers have to consider Very often
il happens that when an option has been lhlul-
dated steadily for three weeks, the lastsaWeek
before delivery day witnesses an upturn.s Tnis
is about the speculative situation today. There
are enough bulls who are believers In May,
around S1c, AS legitimate proposition, to
cause considerable strength should they buy 1t.
But they do not like to take hold SO long as
there Is the possibility that there may still be
old December to be sold out ;.
Cash demand good, No northern NOV
ing at 2@I2l4c December. Milers did
better -four business in the last few days and
business reported good again today. - Loca
elevator stocks recovered their loss, and SO 1ai
in the week|an increase of 900 bu is shown.
A feature fer strength a cable from AT
gentine, received by Chicago house, making
the crop situation much less favorable than hat
been indicated In advices Of yesterday. Frost
is said to have damaged the crop to the extent
OF 40 per cent in some places.
Minneapolis got $50 Duluth 345 ant
Chicago Il. and there were no comparisons, fol
these three markets, there holiday =
year ago. St. Louis received G2. 900 bu compared
with "a 900. Kansas City "a 900 compared with
$4,000, and Winnipeg 3D1 cars against 291. N,H&s
The Price Current says the past week has beer
favorable for corn huskng and cribbing. Many
places nearly fully completed. Quality good
Some disappOintments in yield, but more 1ncltna
ton to market this grain, growing. Wheat posi-
ton unusually favorable and acreage consider
ably increased.
New York sold 100. 900 bu No. 2 red winter
wheat to go out to Lisbon.
The market turned very strong later and solt
above calls. The buying was general. Wash
early and Watson and d. A. Mcdonald bes
buyers later. WoOdworth seller earl!
around S41s @S4Ac. 4 little selling agains
calls checked the advance. .s'
Total clearances: Wheat POP. 900 bu, fou
.O0W brls corn 131 900 bu, oats 81, ,OOO. Whea
and -four equal 100000 bu.
Primary receipts 1,0o4, 900 bu against holi
day year ago. -