The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-14
Heavy Sales Of Elevator Wheat
to Millers Reported Over
Million.
Strong Cash Demand for Samples
from All Glasses of
Buyers. #
A Fine scalping Market, Both
Bulls and Bears Make
Money.

Minneapolis Chamber Of Commerce. March Ii
The trading in the wheat pit was a little more
quiet today. altho the market at times was
active and excited. There less
profit taking the early curb, which caused the
market to open fractionally lower, the early Of
ferings we're taken ty commission houses, they
taking enough of the offerings to advance May
TIC. AS the denlaid from this source
was filed. the market began to sag Oft. The
professional pit crowd. which is bearish, soon
noticed the withdrawal of support and started
iii to hammer prices under their offerings, the
market marked down over cent to put price,
where 1t met with some pretty good buying
mainly by holders of puts. altho shorts also coy
cred some of their short wheat. The buying from
this source absorbed ali the offerings and rallied
prices half cent by noon.
The cash demand was very good from both
local and interior mil!ers and elevators with
prices strong. No. northern selling at IL 0l21a
over May. No. northern at 1M3c under, No. )
was strong at 81 .@loi; No. selling at S5@9dc.
There some heavy sales of elevator wheat
made late yesterday afternoon. probably a million
bushels with good prospects of some heavy sales
today. Millers are after the elevator wheat
ana taking large lunches Of it, wherever they
can get it, they arc bidding 412c under May for
No. northern but getting very little elevators
asking from 2lac to 4l2c under
q Commission houses We're the best buyers In the
pit, with elevator companies the best sellers,
trading being very much mixed among the LEGAL
crowd. Bradstreet'S report showed decrease
east of the Rockies of 1.533, 900 bu. Epruoe and
ahoat increased 100000 bu. Total increase,
2,067 900 bu. Corn decreased 100000 bu oats
increased $4,000 bu. Clearances Of wheat and
-four III 900 bu. Minneapolis stocks decreased
$4,000 bu for three days. Receipts 26S cars
against 294 year ago. Duluth 46 against 1V6,
Chicago SO against 49, Kansas City Ia and
st. Louis $4,000 bu. Primary receipts .i53.oo1
bu. against 500, 0GO year ago; shipments 100000
against 409. 900.
Brcomhalls weekly foreign crop summary:
United Kingdom. France-Conditions continue
quite favorable, but supplies of ma tive wheat are
small. Gernany-Crops are believed to be ali
right and there are liberal supplies Of native
wheat. Hungary-The crops look satisfactory at
this moment but more rain is wanted. Russia
The weather IS mild and crop prospects con-
tinue to give satisfaction. Iay-rhe crop out
look continues ia vorahle. Spafn--Conditions have
improved since week ago. Inda-Supplies Of
old crop wheat are reported to be practically e1
hausted.
The upward movement continued during the
noon hour and right up to the close. becoming
stronger the market advanced. The smale,
shorts covered freely. but the larger operators
continued to fight the advance. The close was
within small fraction Of the best prices for the
day. all offerings being we'll taken, the old bnl
crowd kpiDg buyers