The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-01-10
IA Later Decline to I.171a-An
Active Trading Market in
Full Swing.
Valentine Reported to Have Sold
Some Wheat Near the
Top Point.
Receipts Very Light and an Un-
dertone Of Very Great
Strength. ~ s..-..

Minneapolis Chamber Of Commerce, Jan. 10
Only 1T cars in and 90 shipped out was the
showing In Minneapolis when business began to-
day In the pit. Taking out cars Canadian,
and putting 1e9 against requirements, there was
q bullsh situation indicated, even if the matter
OF outward shipments were passed over. The pit
crowd bought wheat and May soon touched
N19A. The secretary's office figured decrease
to date in local elevator stocks Of 100000 bu.
The men about the cash tables found the demand
1oe Low grades not up to yesterday in the early
business, but for top grades there the keen
est inquiry. Some millers acted as tho no longer
disposed to follow the option so closely, but this
was q minor matter after all. the receipts be-
ing the main influence. and the opinion being gen
sral that more wheat must come in before the
bears VIII get chance to do much. The trade
ran heavy just over $l.19. Calls were sold
yesterday around $11914. and with the market
going up by jumps some sellers Of calls bought
against them early, fearing. probably, that the
market would go thru s1.1aa without stop.
AZ S1.19A, however. some good-siEed lots were
handed ont, and selling continued until May
back again to s1.1Sh. 1t was good time to
tnsn foz q scalp. but few in the pit were able
to shift about quickly enough to get in line.
snhe Chicago pit was turned to the selling side
~ Valentine brokers, who sold or two good
lots and made considerable noise.
ae Nome. the southwest getting less wheat as
ven as the northwest. The comparisons were
Ia5o, 900 bu, against 22s,0o0 bu at Kansas City.
end 71.Ooo bu, against 3d. 900 bu at st. Louis
Chicago had n cars against 81; Duluth 90,
! against ia.
/ The visible supply increased by 35s, 900 bu,
making the total 40 Use, 900 bu.
4 Snow, In an extended report, makes publish
SHOWING Of reserves Of wheat In farmers hands
The total is put at 1e5 0o0 600 hu, against 22s-
! ooA00o bu Jan. I, last year; 2I3 100000 blu JAM
Is. 1908 and IA, 900 900 bu Jan. 1. 1872. OF the
1 winter wheat condition he says: 'When winter
Ic1osed in the condition was low, averaging only
sAB per cent. nearly 10 points below the aver
taRe tor a term Of years at this date. Doughty
conditions have prevailed over the belt, except
on the Atlantic and Pacific coasts from time Of
Eeeeeding until winter began, and the result is q
email plant, lacking In vigor. and not In position
tar the snowfall has been light, and the year
\ doses with period Of low tempera lures coin
t4fdent with bare fields a combination most dis
Ektnotly unfavorabls to q weak plant. The winter
wheat outlook 10 not satisfactory and should
taven moderately unfavorable weather develop, the
spring might a sensational situation"
& The BToomhall foreign crop summary reads as
bapllows: United Kinngdom-Crops vigorous In
q appearance France, Germany-Crop situation
generally satisfactory, as there Is now moder'
rate covering Of snow. Hungary Rumania--Re
}qent freezing weather did not harm crops but
snow covering still thin. Russia. Bulgaria
There have been good falsl Of snow and crop sit
tuAton excellent. Russian holders OF wheat are
Extremely firm in their views, but trade very
ktnue unchanged.
Primary receipts 100000 bu against ISL 900.
Cusarances Of wheat and -four, $4,000.
= Winnipeg receipts, 90 against 237.
The worlds visible, according to Bradstreet 3
decreased {, 800 900 Blu. year ago It increased
Thy ], 234 900 bu.
4. "A sharp break occurred near the close carrying
Nay to S1.171a. .-.
81 May wheat closed at $1.17ss, July at $1.151s
tH0115A.