The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-09-15
Wheat Advanced a Little on the
Good Cash Demand, Then
Closed Strong.
Evidence Of Continued Good Flour
Sales Chicago Buying Near
the Close.
Modern Miller Summary Bullish
in Tone News of the
Day.

Minneapolis Chamber of Commerce, Sept. 10
II there is anything significant in similarity OF
sound, then this should have been bear market
In wheat, for dull the trade that al
times only a handful of scalpers was in the pit
ard at 11:30 am the pit was bare. No session
quite SO dull has been seen in long time Ba 81
cash wheat demand. so far from Ialllng Oh
was better than ever this morning. The wheat
sold easily and good early cleanup was effect
cd. The premium higher, the nominal price
being &c to &c over September tor No :
northern and 11Ac over to Ac under for No.
northern. Sales Of No. to arrive We're made
around SIC and Of No. to arrive at 1917 @sOc.
No. 3 wheat spot sold at 77@Soc and the
only slow sale on the undesirable lots That
the fillers have done pretty good flour bust
ness is shown by the operation Of almost the ell
tire capacity in full, and by the manner IN
which shipments continue to increase, today
figures being 62,O66 barrels. That the millers
arc still selling flour is evident from their acuv-
ity in the cash wheat market. All this Is
strength of the most legitimate kind, and, while
1t remains, nothing put the market lower.
Possibilities on the bear side are that milling
N demand may off at any time or that the
Sd movement may swell to proportions large enough
g 20 leave surplus that would be a burden. With
81 present demand 500 cars day cannot do it.
a There is need here for that much to reach
81 around. This morning the figures were 400 cars,
s and existing demand such that several hun
Y dred more would have been absorbed without
important price recession. Against such condi'
itions spectators for decline can do nothing
Their hope Is in temporary letup in cash de-
mand or a very heavy run. The market at the
moment appears to be on a healthy commercial
basis. The -four shipments represent the daily
grind. One big company is putting out 10000
barrels day, another 81 900 and the smaller
mills doing satisfactory business. thing
not to be lost to sight is the activity OF country
mills. Considerable wheat Is disappearing thai
way. The local excess was 14S cars, only S51
appearing a year ago. Duluth got 259 cars
| against 1s1, and Chicago 81 against ~. Kan
City received $4,000 bu compared with 211,
900, and st. Louis 81 ,00J against no. 900.
4 s MinnesDOliS stocks increased about $50 600 hi
/ for the week
The forecast is for fair weather tonight ant
Saturday which would suggest a free run int
market over Sunday and big Monday figures
Winnipeg reported a total Of 100 cars today
which, against only % year ago, looked big
No less than 81 contained No. 1 northern
and s had No. 1 hard, 1O5 of top grades
while 81 we're No. northern, had No
8 northern and 20 were rejected.
& The Modern Miller says: ''In response to
special inquiry regarding stocks Of wheat hell
by mills and elevators outside Of the large mar
kets the holding position of farmers and the
probable acreage, replies were received from
L 100 winter-wheat millers located in tel
i states and two territories. Excepting one mill
ing center in Tennessee and a few large mill
elsewhere stocks Of wheat light and gener
ally below what they were year ago, and ar
below the usual amount held at this season. II
Texas, where most of this years wheat crop 4
understandable, farpers anxious to sell
but find great difficulty in disposing of thei
* grain because of its inferior quality and miller
are drawing supplies from Oklahoma and Kan
sas. Elsewhere farmers generally holdin
wheat either because they are bus
6 seeding expecting higher prices
No movement of consequence is probable unit
after seeding is completed. number Of report
from Illinois, Missouri and Tennessee say farm
ers have already marketed their surplus wheat
In Missouri, Illinois, Michigan, Kentucky, Tel
nessee and Texas the acreage in winter whea
4 is estimated about the same last year.
Indiana, where the acreage last year smalle
than usual and in Ohio, Kansas, Nebraska an
he q 90 q
@ Primary receipts 977, 900 bu against $685. OOC
f. Clearances CSC, 900 bu. .t
The market was strong near the close. sellin
s. up In line with Chicago.