The Minneapolis journal., 1905-11-10
Prices Break Wide Open, Decem-
ber Going: Down to $3.50
and May to $3.50.
Not Sign of Support Anywhere
Government Final Corn
Report Bearish.
Wheat Sold for Export at Duluth
and Some Flour at Min
neapolis.

Minnea polls Chamber Of Commerce, Nov. To-
big Argentine movement was the depressing
influence in wheat today. That country sent OUT
last week less than 1920, 900 bu, COMPARED par
with 9S4, 900 in the week before ana tol,ooV d
year ago. Without doubt this was due to
cleanup after the accumula ton due to the pro
longed strike and the bulls tried TO Kill Tie
effect with this eXpana ton OF It, and the assur-
ance that next weeks figures will be very nSnt
1T was Zig lot Of wheat, however, and 1t hurt
the market. The money situation in New YORK
also had some effect Call money was up to
12 per cent and 4 was heard. There seems lit
tie connection between wheat and call money.
yet it Is a reasonable supposition that some long
wheat may still be held by men who took it OH
for long pull on the Russian troubles, and
: speculative traders on the long side OF wheat
and stocks would be likely to get out of wheat
under the circumstances good marsins-belng
very necessary now for anyone long In STOCKS.
The corn situation also bore upon wheat. Val
entine sold 100000 bu openly in the Chicago pit.
The government report had not yet appeared but
the feeling that it would carry bearish
color. The acreage in corn on the crop was
81, oil 900 and by applying last years yield Of
26.S bu the total would be 1888 100000 bu.
That the figures from Washington would
tation.
The foreign markets were lower, Liverpool
about r. down on second cables. The big drop
was in Berlin which ! 13c lower. Reports
Of prospective good business still came from
abroad Hamburg cabled that there is good de-
mand there for wheat, which is likely to in
crease
+ Minneapolis elevator stocks will increase about
800, 900 bu for the week, according to indications
to this time. Minneapolis got OIL cars against
56T, Duluth 375 against 205 and Chicago 135
compared with 90. Kansas City showed up
10000 bu against 125, 900 st. Louis $4,000
against 900 and Winnipeg had 5O2 cars
against 2T4. Cash demand was satisfactory, the
local stuff selling 2H@21ac over December for
No. 1 northern. Kansas City reported the sale
of $4,000 bu wheat to go to Mexico.
There utter lack of support to the mar
ket until about $780, when report came on
change Of the sale of lot Of No. 1 northern
at Duluth to go to Germany. This an
authentic report Details to price and guam
tty were lacking, but the business was done.
The figures were even more bearish than
expected The total yield, according to the gov
ernment figures is 2,707, ,99S, 900 bu, which COM
pares with 2,453, ,0OO, 900 bu last year.
The market slumped again after noon, altho
the news strengthening. The report Of ex-
port sales Of No. I northern at Duluth con-
filmed, and it developed that -four trade was
improving the decline and that despite the
carly lack of experts business two mills sold
patents to go abroad later in the day, the
quantity being put at 10000 brls. 1.-The market
would not rally however, and long wheat kept
coming out all the time, many stop-loss orders
being executed.
Primary receipts were 1,231 900 bu against
1,o3O, 600. Clearances. $4,000 bu.
The Modern NIillers weekly summary says
rains much needed in the wheat-raising val
leys Of California. but satisfactory conditions
are maintained over most of the winter wheat
territory east Of the Rocky Mountains.