The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-09-29
Cash Wheat Says, and the Options
Go Lower Under General
Selling.
Armour, Rankin and Lichtstern,
the Chicago Big Three, on
the Bull Side.
Still a Moderate Increase in Local
Stocks News of the
Trade.

M,nneanois Chamber Of Commerce, Sept. %
Pressure on the mar ket was too heaVy TINS NOR
ring for the bulls to work against anu prices
eased off on all options. The cash ,Wheat sasseu
again Demand was good but at lower ngures:
At SAC for No. northern and SIC Tor NO. = ~
moved off quickly, but it was hard 10 get any
thing higher No. 3 sold from TSc to soc ana
No from roc to 76c, and in these lower grades
the tone was not so good. No. i northern 10
arrive was quotable around S312c, ana NO. 4
about sO1ac. The big three in chicago AT
mour Lichtstein and Rankin, were bullish as
ever but there We're some trades In chicago tn't'
shrewd observers took to represent selilng ny
Armour to tighten up. In the Minneapolis PIT
some of the millers were sellers OF futures any any
the most bearisn construction possible was put
upon it. So far the local crowd could see
It had no significance, and represented legltl-
mate protective business: Some httie time , ago
bought cash wheat freely, but they We're not
always able to pick up the spot wheat to adVah,
tage and so occasional flour sale was hedgea
by q purchase Of wheat futures. Now that
they are buying cash wheat to make the flour
they are naturally selling out the option II
does not mean that -four business Is no longer
being booked. On the contrary, there Is
good trade doing. even tho demand Is not so
keen as 1t was recently. The secretary's ornce
figures that tomorrows report ought to snow an
increase in local elevator stocks OF 35o.oO0 nu.
This is not much of a gain In view of all the
wheat coming Next week 1t is predicted the
stocks will begin to pile up. Today there We're
5S7 cars received here against 655 year ago.
and Mt Duluth $40 against zoo' Chlcaso set'i's
b3 against 4S. Kansas City received 10000 bu
against 1T 600 and ST. Louis 90, DOC against l2
OO0 Winnipeg had 4S9 cars In compared with
165 year ago.
Local pit trade was mixed: Woodwork bought
May wheat and sold December. Pit traders,
Kenkel, Young and ballet bought December
and Whallon also bought some. Lewis had a
message reporting Winnipeg cash wheat on ana
slow to November quotable around i6Ac.
Another Lewis message came from J. A. Patten
of Chicago whose firm had just sold ten loads
corn and ten loads oats to Europe. This was
not very heavy business, but it indicated that
corn and oats prices about right for eX,
port trade. there Is something about equal
to Is or 20 loads doing every day.
Primary receipts 1,263, COO bu against 1881, :
900. Clearances equal to $4,000 bu,
Bradstreets reports weekly clearances of wheat
and -four, 1904 1872 bu; corn, 12l7992 bu.
The Modern Miller says: 1.-The seeding OF
winter wheat is well advanced IN the principal
grain-growing states. The soil is in unusually
good condition to receive the seed and start
the growth of the new crop; In the south
not been seen yet, in many localities farm
work is still delayed by wet weather. There
are no indications as yet Of increased deliveries
of wheat by farmers "s T. d
conditions in all directions clear skies and sea
sonable temperatures. Is -.~ ~
The forecast: Illinois, Indiana Missouri, Min
nesota Iowa, Nebraska North and South Da
kota and Nebraska, showers; Michigan and Wis
consin, fair. ~
Watson had the following from Odessa: low.
ing to scarcity of cars enormous lots of grain
have been lying for weeks at the stations
without any possibility of being removed. The
Russian government is trying to borrow 10000
freight from the Austrian government tc
relieve the situation At Odessa prices fol
wheat, barley and oats are tending downward
Stocks Of wheat at South Russian ports have
increased, first half Of September, 1,64o. 900 bu
against 1,456,000 bu increase one year ago."