The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-14
Tbs Chicago Trade Bulletin Makes
En- Estimate Covering the
Wheat Situation.
Much Pressure on the Market but
Prices Stubborn Against
Decline.
Mag Resting Orders to Buy May
on Break of a Few
Gents.

A,:i., polls Chamber Of Commerce, Dec L.
Dnln"s ruled the wheat pit again thru the
early 20 of the session. Prices went lower
for .sslall fraction, but 1t was not an easy
mattep to send it down much. 1t developed
that tHare are some pretty good resting orders ;
OH the pNying side of May, for Sac and soc look
to Eissd many traders like figures representa-
tive g legitimacy in price. On the supply sit
uation. indicated today, wheat OH cash
basis sapuld be worth somewhere In the neigh
borhoaf Of S5c, in good opinion. Many specula-
tors W., Id take on long wheat freely could they
get it Ct SAC or S5c, and recently 1t has trans
PRED tsat there are such buying orders In hand.
with Msple standing back ready to buy at
cent az two under the market. prices would
probably not 60 down much-no long bear cam
paign could be probable. 1t argued likewise
for sogasthing of decline from the present
level, se', with dizziness in all markets and
little asaamisson business anywhere big houses
holding costing orders to buy would naturally
be des,seus of executing them, and would In
consequssce do nothing to prevent setback to
such ,Jvel would permit this. For three
days tRs market has been extremely dull and,
altho dc Sine began several times, 1t was checked
after noderate loss. Trade Is likely t. be
dull fos some time yet, at least until after
the ChrSstmas holiday. How it will work out
meanwhiss is uncertain. Receipts in Minneapolis
are largsg, and will probably so continue. Other
bearish sBfuences have appeared. The market.
judged 81 the things that ordinarily count,
ought to 20 at least a cent or two lower. But
1t is stI5aoorn against decline. The recent pit
transactttns would suggest that possibly some
of the rssting orders to buy on break to SIC
and S5c &sve been raised notch.
The ce,b market in good condition, with
lac undss May the basis for No. / northern.
Flour shieinents at 6S,965 barrels showed good
pickup EIm yesterdays posted figures. Mime
aRolis ele*Gtor stocks have increased 350, 00t bu
so far tiyI week. At this rate not much over
100000 fu will be shown in Saturdays
port for tie total against 1889 900 bu a year
ago. TotAy's movement brought 400 into
Minneapolis compared with 2SS year ago. and
so into raluth compared with 40. Chicago
got ~ against p, Winnipeg 119 against PSI,
Kansas Cay $4,000 bu compared with $1,000
and st. Lf1is 81 600 compared with 81 ,O00.,
IndividuA stocks continued to attract most of
the speculative operations, the general list NOV
ing in only perfunctory manner. After Sugar
had been parked up point and Smelling 2,
the list be@an to yield and there number
Of reactions, reaching point or more in strong
features CT the day, including Amalgamated
Copper. Ksickerbocker Ice moved up and the
Twin City Rapid Transit 21a, while Metropoli.
tan Securities and North Western fell ~ and
Northern xhcifc 1 II.
An 1nhu~nce Of Importance on the side of
q depression Ess the report of the Chicago Daily
Trade Bulletin. Briefly summarized it says:
THE mo ament Of wheat to the primary mar
kets of tbs United States from July / to Dec. i
was about i8S,0O0,000 bu compared with about
1230 100000 tu for corresponding time In 1904.
Inc EXPORT of -four and md wheat during the same
time were shout 10000, 900 bu compared with
2O,OOO,OOO ~ for the same time last year-a1
Increase of 100000 bu, or 100 per cent. The
official visible supply Of wheat on Dec was
previous Estimating the wheat crop Of the
United STATES at 6s3, 900, 900 blu, and allowing
100000 81 for supplies in all positions on
July l, 1865, the aggregate supplies for twelve
months wosld be approxima tely 75O 900 900 bu
Allowing 4s',o 600, bu for consumption and
10000, 600 bu for seeding during the harvest year
and ,*C0 blu exported to date-accounts for
$40 1000 900 bu-and there would remain for ex-
port during the current seven months and for
supplies on hand July 1, 1906 about 10000 900
bu. The e.s3orts from Dec. 1,H1904, to July i,
little hi
exports this year doubt will be substantially
increased"
The Price Current says the high conditions of
growing wheat are maintained. Fair offerings
of corn and an charging feeding demand are
noted NOTED Nothing is in sight suggestive i'm
In the future 49,
Primary receipts, $4,000 bu against 567 900.
Clearances 4O3, 900 bu