The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-08
Small Traders All at Sea and
Big Traders Not Doing
Much.
Opinion Divided and Much De-
pending upon the Manipula-
tors of Wall Street.
Receipts Still Light, but Cash
Trade and Flour Demand
Quiet.

: Minneapolis Chamber of Commerce. Feb. s.
Nothing developed in wheat this morning I'M
portant enough to change the market or hrt II
out of the rut. May held to IL 80 a. m. close
to $1.15k, moving only fraetionally up or down.
The pit dead. Not one good-sized order
came in, and for an hour during the duilest
part scarcely anything was done. This lack
OF interest the bears viewed highly favor
able to their side, for dizziness usually means
good time to strike the market. What would
have happened had anyone tried to unload big
lot this morning is uncertain, and as no big
lot came on sale the market remained untested
Left to itself, May wheat would probably sag
of. but it is noticed that whenever any neasy
selling starts support Is forthcoming. What
would happen If anyone tried to buy DIG lou
is about uncertain. Wheat ID 30 light IN the
pit that, left to itself. the market would rise
q cent or two on the filling Of half dozen
fair orders. HUT the action of the market OF
late has shown that, as there Is. support on the
buying side when sellers begin. to hand out.
the wheat just so there Is always Dig lot.
coming from no knows where to sell when
all the pit has turned to the buying side. The
Email trader meanwhile is discouraged, for ne
wants action. One set Of lopinfous- tell him that
the dizziness cannot continue, that some day the
Wall holdings of 10, 900, 600 to 20, 0o0,o 900
Blu will be unloaded and wheat will go down
a0c. Another set tells him something quite the
reverse, and he finds John w. Gates, supposed
10 be the bull lender, quoted as saying that
there is short interest Of 10,00o,000 to 10000
900 bu and only 5000, coo bu wheat to fill
sales from, and all the bulls have to do is to
sit still and in good time the bears will have
10 buy in and they will the market up in
manner sensational. .....
Minneapolis received 241 cars compared with
213 a year ago, and Duluth % against IA. Du-
auth had 10 cars against q. st. Louis had
$4,000 bu against 10000 Winnipeg had 46 cars
Minneapolis stocks decreased 475,o0o bu FOR
Your days.
3 The worlds visible supply of wheat now stands
nt the total of 17947S 900 bu compared with
100 us 900 a year ago. Russian visible wheat
stocks are 100000 blu against 100000. u !.
4 The Price Current says 'At this period Of
the season when the weather influences: are
without special departure from the usual con-
ditions. there is not much to report of changes
from week week In the general situation
with reference to agricultural affairs including
the growing wheat crop. The correspondence
this week from other persons or other places
mainly within corresponding territorial limits,
reflects a unfavorable view In this par
ficular for Indiana and Illinois, while in other
regions there appears to exist as conndent we"
of the situation previously Indicated IN
Ohio
4 t'When the returns written there was
snow over nearly all OF the states. the southern
districts being partially covered, and the wheat
$plant quite generally In favorable condltlon
when the snow upon it in Indiana and
illinois. Conditions somewhat irregular and
variable as to position of the plant there being
various instances where injury Is regarded al
having occurred but the predominating condi-
&tion is not of unfavorableness of outlook.
west Of the Mississippi river the prevailing stu
cation is fairly or positively good
Primary receipts 3sS, 90 blu against $40, 900;
tclearances. As, 900 bu, -
! A st. Louis message says the st. Louis ex
change has decided that Oregon No. red Ii
equivalent to Chicago No. red and will be
deliverable on contracts as No. 2 red.
~ Following is the weather forecast in full
a1llinois-SnOw or rain, warmer tonight. high
5southerly winds shifting to northwest Thursday
EIndiana-Rain or snow, high southerly winds
SLower Michigan-Snow tonight Thursday, pos
a3sibdly turning to sleet rain. Missouri
Threatening with snow rain tonight and il
least Thursday, colder Thursday. Minnesota
warmer east colder west tonight. colder Thurs
Nday. North Dakota-Fair Thursday, eas
tonight. cold wave tomorrow. South Dakota
HSnow furries tonight, colder tomorrow. Nebraska
Partly cloudy with snow east fair and colder
Thursday. Iowa-Threatening with tonigh
Sand in east tomorrow. Kansas-Partly cloud!
Eand warmer tonight with rain or SNOW east
colder tomorrow. ia
q May closed at s114N Oils and July a
sS112K. .