The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-11-06
Big Russian Shipments Scare the
Spectators and Long Wheat
Comes Out.
The Cash Market Also Suffers a
Little, Altho Offerings Were
Moderate.
Long Wheat Pretty Well Sold
Out on the Recent
Declines.

Minneapolis Chamber of Commerce. Nov. g.
Big Russian shipments made the wheat mafket
heavy, and the week opened with prices on de
cline, early figures showing December 81 anu
Hay SI@STac. There came out OF RUSSIA last
week 4,S24, 900 bu wheat. This was not oniy
pretty fair total for Russia for any time:
hut it was surprisingly large in view OF the
recent reports of the tying up of railroads and
the blocking Of the ports. The bulls came
around again with the old argument that the
shipments are bound to fall of, that the mer-
chants of Russia rushing out everything
possible to get the cash, and that when the
falling Off does come it will be sensational
This is the view of many In the trade, ana IL
appears warranted. Little doubt exists OF the
seriousness of the Russian supply situation
which will one day have its effect But the
many spectators who bought wheat on the
Russian troubles would like to see something
really doing, and any actual decrease IN the
Russian movement would count more with them
than volumes of comment about prospective
decreases. Hence, to this writing, little long
lots are still being sold out, despite the heavy
liquidation Of the past several days which repre-
sents the selling of millions of bushels. Spec
ulatively the market ought to be in much
healthier condition for being relieved OF this
weight.
The cash market vas weak and lower, the
nominal figure being 1a4c over December for
No l northern, while No. was &c under
Demand was fairly good, but no better than
Saturday. There were 1871 cars In, which was
light run compared with 900 year ago, and
part Of today's receipts were delivered on pre-
vious sales to arrive 80 that the pressure OF
cash offerings was not heavy. Still there was
enough on sale considering the state Of the
market. Chicago made up the difference In Min.
neapolis receipts by showing Of POI cars against
80, aud Duluth over with ST against 17S
30 there plenty of wheat taken all around
st. Louis got 121 900 bu against $4,000 Winni
peg received AT against 4O7, and stocks
of Canadian wheat at Fort William and Port
Arthur made the first good increase so far this
season, gaining 1 ,345, 600 bu for the week. Min
neapolis stocks continue to increase at slow
rate, the increase for two days being 1000 bu
Kansas City received 24O COO bu agains
10000.
The foreign markets were irregular. Liver
pool was lower by 5s@hd on second cables
Paris equal to about 7hc off. and Antwerp
%@Ac lower. but Budapest came Nc higher
and Berlin I've up.
The quantity afoat for Europe at %, $50, O0t
bu increased 672, 900 bu for the week.
Primary receipts were 168SOOO bu agains
1.7S6,000 a year ago. Clearances wheat ant
-four equal to $50, coo bu, over $4,000 barrels
being -four.
The visible increased only 1,556,000 bu. con
siderably less than expected.
Lake Brown had message from tn
Chicago board who said he talked with Valen
tine about reported settlements In Chicago De
cember, and Valentine said that Armour hat
made settlements and that prices will &
higher instead of lower.