The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-12
The Wheat Market Sells Above
Yesterdays High IS
Point.
Receipts at Spring Wheat Points
Only 100 Cars Over
1904.
Eastern Russian Crop News Are
of q Bullish Char =,
acter.

4 Minneapolis Chamber of Commerce, Oct. IL
sThe market today narrow as the proceed
ling ones for the past week or TWO Inc open
4tng was UNCHANGED from the previous closing
sbut soon developed little weakness. and prices
had fractional setback selling by three or
-four Of the prominent operators, the buying
tbeing scattered and somewhat limited. Inc
volume Of business shows no increase, the out
side speculative demand not showing any im.
iprovenent, the professional pit element doing
the bulk of the business. Elevators are the best
sellers, putting their hedges against cash pur.
schases in both options. Spreaders were doing
u little business today but the extreme dizziness
is making 1t difficult for them to get IN ana
out as they wish.
2 The cash demand continues to be of the best
kind. the market today was very strong ana
active, especially for No. and No. 2 northern.
and prices were strong with an active demand
from all the local mills, and elevators, with
a fairly good outside demand. which is shown
by the shipments out yesterday of 1o4, 100 blu
of wheat No. northern sold at 2@2Ac over
December price and No. northern at 1c under
4 at 7O@S0c. No. 1 northern to arrive was
wanted at 1A@2c December and No.
northern to arrive at 1@1Ac under December.
/ Receipts at the four principal points, Min
neapois, Duluth, Winnipeg and Chicago, were
only IS in excess of year ago, Mime
apolis receiving 444 cars against SIS year
against POS, Chicago % against 122 Kansas
City ITO, 900 bu against 81, 900 bu and st. Louis
$4,000 bu against 64000 bu.
1 Our stocks for the five days Of the week
show increase of LOO, 900 bu. and will prob
ably show increase Of 1.25O00O Blu for the
week. the biggest increase 50 far on the crop,
but at that the total stocks Will show but little
change from what they were a year ago. -
BroomhalPs Liverpool cable says wheat at the
opening steady, with values sd higher.
/ Buying was the result Of dearer offerings Of
/ Manitoba wheat. Later, however, slight east
ness occurred, followed by subsequent rally due
to light speculative offerings and bullish cable
< from Australia.
Liverpool corn was steady at the opening,
with prices Id higher Strength due to higher
advances from America and light Argentine
! c f offerings. i
Broomhall has cable from Australian shipper
/; saying crops are looking badly and are In need
of October rains.
/ The n>-cket wfke up little after the noon
hour mad with fair demand sold at fraction
over yesterdays high point Prices held there,
but moment, however, the selling pressure be-
ing too much for the bulls to stand. The de-
mand having been supplied prices began to sas
and soon sold back to put price with a few OF
the shorts covering and taking their small scalp
ing profits, causing little frmer feeling at the
close. G-s .ss.st r.
Today's inspection shows rs cars of No. / hard
155 No. northern, 116 No. 2 northern, Ga Nc
8, 45 No. 4, "a rejected and grade, total
durum and mixed. Duluth and Winnipeg In
spection also show very large percentage Of
No. 1 and No. northern among the receipts
in fact this years crop Is of exceptionally
high quality.
j Prices hardened again, st. Paul getting bach
to the best Pacifcc Mail lifted TX OF
large buying, Brooklyn Transit and Pacific Coas
gained u, Cand Southern, Delwre & Hudson
Minnercls & st. Louis and United States Rubbe
preferred /. Trading came practically to a stop
The closing was fairly steady but almost life
less