The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-10
An Early Bulge to $1.111a on the
Snow and Fears of a
Squeeze of Shorts.
Later Short Selling Sends Prices
Down Again With
n Ease.
The Large Shipments Out Of Min
I neapolis Are Beginning to
Attract Attention.

Minneapolis Chamber Of Commerce. March TO-
"A furry of snow put action into wheat turning
minneapolis May up $1.111s and Chicago May
to E$1.141a. Traders the possibility of y
ne-pp In the northwest and made haste to buy
There enough selling to check 1t after
bits and send prices back half way. Inc gov,
ernment report to come this afternoon Is the
bigs thing, and after it has been received the
trade will know better what to figure upon IN
the way of supplies That it will be a bearish
report is still the expectation. Many have sold
wheat heavily short, and with paper prohts al
ready large stand to make big profits on the
break expected to follow. The bulls, on the
other hand believe that the report Will marx
a turn for the better. They figure that the
time; is ripe for a squeeze that will send the
shorts into the market on the buying side, ana
believe that If the report Is bullish In the
least degree the market will show quick re-
Spouse. The traders are waiting for the
report with equal anxiety. Trade was light on
cash demand caused activity in the pit the
orders for the most part were for small lots
and the total business small. Brokers expect
things to nven up after the report Is out OF
Argentine shipped out 4,o72Ooo bu for the
week against 3.704, 900 last week and 2,76o,oO0
year ago. Despite thlS LlVerpOoA was NY
SD at the close.
Minneapolis received 24e cars against 3o3,
Duluth % against 10. Chicago % against. 10.
Winnipeg had 60 cars against 81 Kansas City
had 900 bu against $4,000, and st. Louis
81 1000 against $1,000.
Clearances. $4,000 blu; primary receipts.
40SO00 Du against 546,OUO shipments, l'o'ooo
against 336,0O0
Minneapolis stocks decreased about 100000 bu
for the week.
Fred McCord was back on change from a long
trip thru Iowa and Missouri. Stocks Of corn
and It's thru the country. especially thru iowa,
are very light. surprisingly Much Of the
coarse grain taken to the gulf by the lines
running that way during the recent period OF
cutting.
The Modern Miller says: weather conditions
the past week have been seasonably favorable
for the winter wheat crop Rains have been
general and In some sections were needed. The
plant in most sections shows Improvement over
early winter conditions. There Is no evidence
of damage yet where it feared that the
covering of Ice had smothered the plant
Minneapolis shipped out today to mills lO4
cars Of wheat, 116 yesterday and 119 two days
ago Minneapolis mills shipped 10000 brls OF
-four today and 23S that were loaded out
of minneapolis elevators. OF receipts today, the
Great Northern brought in 12O cars leaving only
125 for all other roads. OF wheat loaded out
of Minneapolis today, 80 were No. north
ern and SO No. northern. The outgoing fig
ures can be counted for several months to
come. 1t will tell the northwest supply
after bit
Broomhalrs Argentine cable says weather con-
dtions are improving, but considerable damage
has been done to wheat in stacks by recent
heavy rains. No progress has been made In re-
sumption Of work on the Southern railroad,
great congestion continuing and traffic being to-
tally dsorganized. Loss to shippers will be
most serious. Delay in shipping by Bahia Is
estimated at 40 to 60 days. Sellers very firm In
their views
May sold down to s1oe%, closing at $11O%.