The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-03
Wheat Does Well All Thru the
Session Until Near the
Close.
Heavy Selling in Chicago Sends
December Down a Good
Cent.
Big Receipts at Winnipeg a Fea-
ture, Over 900 Cars in
All. -

MINNEAPOLIS Chamber of Commerce, Oct. g.
Wheat held up we'll this morning, altho DIG
total came into sight at the principal nortn-
west markets. Winnipeg had history making
run of 93S cars, and renewed talk Of the bearlsh
effect Of the Canadian wheat upon the worlds
markets began at once. Minneapolis got 64S cars
and Duluth $40. Some little competition Is on
between the two markets, and. not to let the
wheat get away from them, the local buyers
were more ready to take hold today: NO. l
northern in good demand at 1@1ac over
December and No. 2 at 1a@21ac under, while
No. sold from 75c to re and No. 4 from roc
to Use. No. 1 northern to arrive was about
Receipts today and the last year comparison
were: Minneapolis GAS cars and sos; Duluth,
$40 and 675; Chicago, 1876 and SO; Kansas City,
802, 900 bu and 90, 900; ST. Louis, $4,000 and
apols stocks increased 275O0o blu for three days.
The worlds visible, according to Bradstreets.
east of the Rockies and 600, 900 in Europe or
a1oat for Europe.
Opinion still splits little in the trade on
the meaning Of the Armour moves in Chicago
Probably the major portion of the trade sees
Valentines operations on the bull side as In
dicative Of a firm belief on his part in the merit
Of wheat around, the present price level, but not
a few inclined to the view that his plan
Is nothing more than to draw wheat to Chi
cago, to force it to go that way. Men who
have watched the Chicago market closely say
that in five years the Chicago elevator interests
have made money in wheat in carrying
way. Chicago, with her suburbs, has capacity
for 100000 bu grain. She has about 7,OOO,-
900 bu. wheat now in store. OF course there is
an enormous Chicago business In OATS corn
and other cereals, but she would like to get a
little wheat. Valentine is the man looked to
. by the Armours for fair return on the Armour
share of this capacity, which is about IL 600 00O
+ II he could buy December wheat and put it out
II into May, or figure 1t out any way to make
E the wheat come that way, his houses would be
& utilized and would earn carrying charges. The
a fact that Duluth is now competitor for cash
i wheat against Minneapolis, and that some whea
- was bought in Duluth yesterday to go by lake
to Chicago, makes it look as If this is workins
+: out all right. The old-line bulls do not set
a it this way. Desire to use the Chicago ele
vators may be an Important motive. they say
s but principally they believe Valentine is
q bull because he believes in wheat.
~ Primary receipts. 1.756OO0 bu against 1890,
SIS 600. Clearances, 247, 900 bu.
u ,,o broc 93l foreign summary: United King
good progress is made with blowing. The goo
quality is confirmed in the center and whea
IN M the north however the quality is very poor
The percentage of milling wheat is given at g
u per cent against y per cent last year. Ger
emany-There Is a large potato crop, but qualit,
Is varied 1t is expected that there will b
Hungary-Good progress is being made Will
blowing. Russia-Arrivals at ports are bein,
generally maintained. Italy-The wheat croi
this year is estimated at about 1855 900 900 b.
against $50, 400, coo last year. Corn situatio,
Is satisfactory. spain-Crop now considered de
cldedly smaller than last years; large stock
VI 1oreiSu gram nave been carried over,
The government weekly summary SAYS: High
,sly favorable weather prevailed turnout the prin
cipal corn states. An exceptionally large ar
Zine yield of corn is now assured for the nue.
greater part of the belt and only a yer
small part of the crop in the north central Dor
e ton estimated at from to per cent Of tn
Is totsl, remains exposed to injury from frost
and this is maturing rapidly.
me weather map shows clear skies and ses
i sonable temDera lures in all directions ~.
3 The mraxket fell off sharply near the close
on heavy selling in Chicago Advices said som
r. OF the Chicago locals had taken profits m
: crowd got loaded and sold ont