The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-16
May Sells to $1.18, Falls to SLIT,
B Then Comes Back to $1.18
Later.
Bull Talk Going Around Freely
Some One Sold in
Chicago. 49,.
n
Receipts Light, but the Compare
i. son Not So Bullish as
: = Formerly.

IL Minneapolis Chamber Of Commerce, Feb. 1s.-
May wheat sold to $11s early today, following
up the advance Of yesterday Everybody talked
strong and most Of the news items favored
strength and prices rose. Corn kicked back a
little going under 47c again, but later on the
word came from New York that corn was all
right merit, for some had been sold at 64hc
for export against recent sales at Ole. This
is the nub of 1t in corn, and it Is good nub
for the bulls--this fact that have been send
ing out the corn. still sending 1t out at
good rate, and foreigners are even now buying it
and paying more for 1t. If there was only some
thing like this In wheat the wheat bulls would
do wonders, but wheat Is not even to be thought
Of In this connection. The wheat situation Is a
domestic proposition. and If the foreigners are to
be reckoned with 1t ls not that we are to bother
with whether sell them any wheat, but
rather we are to consider how high the market
on our side can go before the foreigners begin
to sell the stuff to us. Apparently there Is still
a good chance for rise before this danger VIII
appear, for someone figured out today that
even at the present out-of-line conditions Argen-
tine wheat high grade enough to be any good
could not be brought to New York without
,12c disadvantage against sending 1t to Liver
pool. Zoo
The movement Of wheat to market. while still
light In comparison made by no means so bullsh
Il showing as yesterday and Tuesday Here there
were 200 cars and five from Canada, or 2O5
against 225 Duluth got rs against So and Chi
cago 10 against 10. The Kansas City receipts
2s 900 against 10000 Winnipeg had Al cars
against IL.
q The Price Current says: The wheat fields were
mainly we'll protected by from the severe
freeze Of the past week. There are some areas
where the icy surface awakens apprehenStons as
TO injury from smothering. Fair offerings are
noted and an enlarged demand for corn for
feeding. ~
= OF the -four situation the Northwestern Miller
says: Export trade appears deader than ever.
10 sell patent Is wholly out of the question,
while clears, tho abnormally cheap, are nearly
as hard to move. Most mills have clears to offer
but 1t Is a common experience that the demand
for them Is very limited. Prices on these grades
have lately been shaded by some mills, but 1t
seemed to not facilitate sales. Holland and
London are bidders, but the prices offered are ex-
tremely low"
Somebody offered to sell number Of 5o,00o-bu
lnts in quick succession in the Chicago pit about
Il 80, and May broke sharply, Minneapolis May
following and going to Sill cent down from
earlier high point.
primary receipts $4,000 bu against 514, 600.
Clearances, SO, 900 bu.
Weather map: The weather map shows gen.
orally higher tempera lures all over the country
with no precipitation Indianapolis Is the coolest
SPOT at below zero. It Is above zero every
where else. In the extreme northwest and north
1T Is partly cloudy, 10 to above. The northwest
Is partly cloudy, to "a above. West and south
west partly cloudy. The indications are for part
" cloudy weather with possibly light scattered
snow furries. The temperature will rise In this
section. It will be colder in the northwest, but
no cold wave is indicated. -- 81.
May wheat closed at $117M and July at
E1151A al 1874