The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-01-27
May Closes Lower, but Cash
Wheat and Coarse Grains
Are Lively.
Flour Demand Better and Some
Oriental Inquiry for Top
Grades in Hand.
Receipts Here Larger, but Wheat
Sold to Come Out of Ele-
vators Later On.

Minneapolis Chamber Of Commerce, Jan. IT,
Steady in tone but without enough OF new IN
auence to move it out of one-cent range, wheat
held thru today's early session, with May around
$1.16 ranging up to $1.161a and down again
10 81 IT, Strength tn epredOminant IeelmS.
and considerable advance would likely have
been made by but for the fact that local
receipts ran ahead of last year, with 2I1 cars
against 1872 and this made the t1Ind holders
sell out. On the other hand there was good
cash market millers bought wheat more read
lily, and there reports OF good hour husl-
ness, domestic and foreign. and OF Increased
inquiry for -four from the Orient The excess
of receipts last year Is not depressing
feature for there is demand enough to care TOT
every thing, and 81 wheat is not much
wheat for Minneapolis at any time. The reason
1t deters the bull followers Is that the Dig
bulls had long ago predicted that there would
be an advancing market as soon rs minneapolis
elevator stocks began decreasing. and that there
would be nothing doing until this began At
peesent Minneapolis stocks holding their
own and are not likely to fall of much while
receipts here continue as at present. AT Du-
h shsEs o. cars had az cars
against 65. st. Louis received $1,000 Du against
5000.
Poehler says; 'Altho receipts are unexpected
" large the situation remained unchanged, the
large receipts being at the expense OF country
elevator stocks. The foreign situation has been
growing stronger, and as predicted WORLDS
shipments not only running considerably
smaller than a year ago, but indications are
that they will continue to run smaller the bal
ance of the season. This would not be signth-
cant If 1t was not that the weekly shipments
will run materially under requirements. and
chat In consequence the amount ocean pas
sage will from show heavy decrease and
the worlds visible supply likewise. The for
eign situation during the past four months has
been pictured bearish, and almost everyone
ridiculed the idea that anything but bearish
factors could be expected from abroad. The
heavy Russian shipments, like our heavy receipts
of the past ten days, finally ceased. but during
the time fooled many people. In connection with
this 1t may be we'll to recall the fact that
the French crop short so, 600. 900 bu Of
wheat, and that the United States has had no
wheat to export. Is 1t. therefore. surprising
that the world shipments from should
advancing?"
Antwerp surprised everyone in the trade by
closing nc higher
Primary receipts, $4,000 bu against $4,000.
Clearances for the day, 80. 900 bu and for the
week 100. 900 bu wheat and -four and a,5s5,ooo
bu corn.
Kansas City wired: One firm here sold $50 900
hu wheat to Minneapolis yesterday.
MinneaDolis bought about 125oo0 bu In the
southwest today.
Minneapolis elevators sold about 100000 bu
today to come out Of store later.
The Modern Miller says: "A large area of
che winter wheat belt In unprotected
condition during the late severe cold weather.
hut it is impossible to tell at this early date
whether damage will result Country reserves
Of wheat are below the average for this sea
son Of the year and the movement is light
Chicago says contract stocks of corn, Chicago,
are about the same year ago, and with
the price Of No. 8 corn the same No. q the
contract grade there is very little margin to
make grade The short interest in May
corn is Of very large proportions and scattered.
May wheat closed at s1.157s and July at
G.12A,