The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-12
Wheat Goes Down a Little, but
Shows an Undercurrent of
Quiet Firmness.
The Weather Better in Argentine
and Liverpool Cables Come
Somewhat Lower.
Flour Shipments Light Cash De-
and Fair News Of abe
Trade.

Minneapolis Chamber of Commerce, Dec 12-
Better weather IN Argentine put Liverpool down
followed quickly, Minneapolis May wheat going
i to S6lac. The ca les told OF a change for the
better. kaib's cable said that, while there had
been rain In the northern part Of Argentine,
the damage was unimportant and 40 per cent Of
the wheat is already cut. Liverpool opened
hrm .: and "a I'D, up on the big decrease In the
gentlne news. Locally the situation steady.
the cash market showing sales of No. northern
at IA @2c under May and at 81 @4c under for
No. D. Fair demand noted There no
rush for the wheat, yet it moved off fairly well.
Four hundred were in the yards, indicating
turn for the better In receipts. The flour ship
ments. again fell back to only 41,645 barrels,
and three, mills We're reported down. This was
bearish compared with recent doings in -four,
as indeed all late comparisons have been bearish,
but this Is the season when dullness in flour
is rather the rule than the exception, and on
this basis of comparison the situation is favor
able. -=~@ f. 81. E-5l Es "a
Extreme dullness ruled the pit. Indeed if
there is anything in the old idea that dizziness
precedes decline, wheat should be lower for
trade has been very light and speculative in
terest small But too many are believers III
the legitimacy of wheat. When the market
goes down some little long time investment buy
Ing is always to be seen.
Minneapolis received 400 cars compared with
392, Duluth 125 against 2sS and Chicago 81
against 43. ST. Louis got 90. 600 blu against
$4,000 and Kansas City. 1926 900 against $4,000.
Winnipeg received 554 cars compared with S21
bu for three days.
Primary receipts were 727, 900 bu compared
( with $4,000 a year ago. Clearances wheat
and four 80 COO bu. (~.
The worlds visible. as figured by Bradstreet's
increased 100000 bu.- There was an increase
of 4,40O. 900 blu in the quantity in Europe and
ahoat, offset In part by decrease of $4,000 bu
east Of the Rockies. ~
The market here dead that, after
May had sold at S6ssc, and while Chicago held
at $3.50, there not a change Of &c either
way for forty five minutes.
Poehler says Of wheat 1.-THE big decrease in
the visible is significant, for it reflects the
strength of the cash wheat position in this
country. In spite Of the fact that this years
crop is 100 900 600 hu larger than year ago,
the visible supply today is 1887 900 Blu less.
II is true that there is more wheat in the In
visible supply than year ago, but be that as
1t may, a fair amount in wheat and -four has
already been exported. and Manitoba
wheat supplies become strongly held. which
will not be many weeks from Ee.v, an increased
business will result. This. VITA enough farmers
determined to hold for higher prices, indicates
that wheat around present prices is good prop
erty." - 49,. III.
Broomhall crop summary reads as follows:
1ndia--Wheat in Punjaub beginning to need rain:
situation not vet acute but some damage already
been done. Acknowledgements variable. South
fine: season excellent. United Kingdom. Hun
gary Spain--CrOps in fair condition. France
Early sowings making fair progress: supplies
moderate; quality and conditions unsatisfactory.
Germany-Clmatic conditions unusually mild;
fewer complaints heard. Italy--Been complaints
able: sowing continues. Now estimated that
acreage OF wheat will show increase of 10 to
15 per cent. Russia-Weath er mild; crops look
we'll. ~. = set-f ! - u. 3 :