The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-10
May Closed Today at $1.1514,
After Ranging About 1ac
Up and Down.
Rumors of Closing Down of the
Flour Mills Had Early
Bear Effect.
Corn Takes on Strength, Sells
Up to 457sc, and Gives
Help to Wheat.

Minneapolis Chamber Of Commerce. Feb. 10
Rilnor that the local -four mills will close down
for lack Of business influence on the
heavy side of wheat at the opening today. Ihat
they will close or that they will not is 1mpossi-
BILE to learn early in the day, for While some
report to new orders was unfavoraole' ONE.
lnillers said there was enough business on mana
10 warrant running right along, and there was
lack of unanimty of opinion as to present
business and as to the outlook for the lmtne
diate future The wheat market mean%hlle WIS
dull and dropping. and May sola Gown "
S1147a Another party Of st. Louis gram men
turned up in Chicago, coming for the purpose
of pushing the for ruling IN lineage
permitting delivery Of No. 2 red oregon wneac
on contract. They accomplished ht1ie' pu' e.e
agitation affected prices somewhat Chicago corn
meanwhile turned strong on Argentine estlmales
of an exportable surplus of 4s. 900 900 bu against
100, 100000. and buying by Dig no"sss Tn tho
price to 451sc. w. II. Bartlett Is an outspoAen
bull corn. , ,,,,,,,.
Indications are for decrease IN M1nneapoa's
elevator stocks of 675 900 bu for the week,
decrease OF 100 900 bu in Kansas City ana an
increase of s.. 900 bu at Duluth
4 year ago today was Llncohs oli.n ~
= holiday hence there was no comparison W y.
wade AGAINST receipts of 1919 cars here AZ
duluth and 10 in Chicago. Two cars OF Tue
local receipts held Canadian wheat. winnipeg
had 40 cars this morning compared WIN 20 !
year ago In the southwest the comparison n was
still strong one but by no means as bull1sh
as of late. st. Louis got even little more
wheat than year ago. OR 81. 900 bu against '
36 O0o Kansas City falling under with 35,ooG
bu against 1000.
Tho Modern Miller says: "Most of the grow
Ing winter wheat crop is under cover snow
having fallen as far south as tennessee ah9
z1hruout the southwest Protection ls asSu ass,
from predicted cold weather. and there WILL De
abundant moisture with thaw1ng weather
Whallon had the following advance telegraphic
summary of wheat the Kansas City Star Will
cav today: 1T is q remarkable fact, In view
of widespread reports of dulness in the hour
trade that domestic consumption of wheat shows
up In commercial channels nearly 6,50O,0oO ou
greater last month than in January lso4: RI RI
mary market receipts were $4,000. 600 bu less
and exports $500 900 bu less. leaving 4.OOO. 600
bu more for home use last month than in Jan
nary 1904. In addition the stocks east OF tho
Rockies decreased 1850. 900 bu more last month
than year ago. so that home mills used
$3.50, 900 bu more wheat out of commercial
channels last month than in January, 1904
er on, Logan Wrea the
in wheat more one-sided than at the moment.
majority OF traders are bearish. and those
not already short waiting to get some out
for the grand slide in prices that they think
Is due. This sentiment is entirely too popular
for ca healthy market. 1t am not so sure that
prices have been inflated by speculation I am
other primary markets There is no place, sc
far as I know, where car Of good wheat car
be bought and brought here at profit. CAST
wheat has ruled above s1.1o in all markets o.
this country for months. The situation l:
unique. The trade fails to grasp the Importance
of the damage to our 1904 crop both in guam
tity and quality. No comparisons are peril
nent because never had such a set of con
ditions before. The present price may discoun
the situation. Be that as it may, to my mint
high price is warranted from strictly com
mercial and would prevail in the absenc,
of any speculation in futures"
Primary receipts today, 3es, 600 bu; clearances
AZ, 900 bu.
Near the close there was little strength
May and July coming up fraction and clos
ing at $1.15A and $1.13% Oh.