The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-28
Apparently Liquidation Has Spent
It's Force, Yet Many
Doubt It. a.Ls saa,
reports More Favorable to Price
Maintenance and Firmness
Follow.
But the Situation Is Still Full Of
Uncertainty Gossip Of the
Day.

Minneapolis Chamber of Commerce, April Is
Sales of Minneapolis patent flour for export yes
terday and of No. 1 northern wheat Tor export
at Duluth. put check upon the bears ana gave
wheat fair rally this morning. MINNEAPOLIS
May traded between 9Sasc and 341sc, and July
between 91$c and 92tsc. The SITUATION ~
Chicago still predominates and some timid trad
ers are saying that there Is more wheat yet
to be 1iquidated. A majority believes otherwise.
The smash to S6a4c for Chicago May propbably
roited the last Of the old guard and put the
bulls out Of 1t entirely. drive at new buyers
may send 1t lower again, but the big liquidation
has probably ceased. One could get almost any
kind Of an opinion today. AS an example OF con-
servatism. the lnter-Ocean cautions traders that
possibly there Is more stuff yet to come, ana
saws: "a few Of the traders who have been hg-
uring on the Gates liquidation claimed last night
that between 100000 and 1000 bu We're yet to
be sold. Others had 1t that the line had been
nquidated. the last going at 33c The trade
is still at sea to the amount of liquidation
of May yet to out, and nothing definite
can be determined until the May deliveries are
made" Bull views were Numerous as bear
opinions. One from Chicago to Piper said:
'.It looks if the May wheat liquidation is
about over. Even If 1t is not, many believe
than to sell it. eoneraet stocks Vii, be small
may be easily used up, even with only moderate
demand. There could nto we'll be a finer promise
for the growing CROP so that any change will be
Cash demand was better. here and in other
markets.
Minneapolis received 81 cars against II, Duluth
8 against none, Chicago IS against 9. Kansas
City 10000 bu against $4,000 and st. Louis
$4,000 bu against 5000. ...,r
The Modern Miller says: "Under influence Of
warmer weather and plentiful moisture, the Win
ter wheat has recovered from the unfayorable
effects of low temperatures and drought. Pres
ent prospects are excellent, pointing to yield of
winter wheat of 475, 900, 900 bu on the acreage
under cultivation"
\ An Antwerp letter Of April IS to Watson says:
NThere is more confidence in prices based on in
ability of Russia. India Rumnnia and Austria
liza to ship as much wheat as last year. Twenty
cargoes have been taken off coast by the CONT
nent, principally Argentine cargoes. The news
from India is far from being brilliant. Sellers
are holding back. The damage to the new crop
is greater than officially reported. Russian ad-
vices that there IS a good deal of wheat
there yet but difficult to get to the seaboards on
account Of disorganization in transportation facil
tiles. The winter wheat outlook is favorable.
French farmers are firm in their belief In prices
and refuse to make concessions. 1t is still a
question whether wheat will have to be imported
or not: crop outlook favorable'
Near the close the market turned very strong
selling to 95kc for May and 93hc for July