The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-09-28
Cash Wheat Still in Good De
lnand, Yet Not Quite
Up to Mark.
Flour Shipments Continue Large.
and Little Wheat Is Accu-
mulating.
Chicago the Bull Center-News
and Gossip Of the
Trade.

Minnea polls Chamber OF Commerce, Sept. Is
Cash demand was not 80 strong this morning and
prices sagged a little. There was In fact, a
4 good demand and lot the least trouble IN sell
& ing the stuff. But sellers could see no reason
/. for letting down the figures and buyers thought
at least NC ought to come off. At SOC for NO. 1
: northern and SEE for No. they We're willing to
take all desirable lots Some sellers, beltev-
Ing an easier turn probable for day or two at
least let go at once. Others held out until later
In the session but with no better results. The
figures representing the movement were not SO
bullish yesterday, when nearly every point
fell under year ago. Today there We're gains
Duluth 4o7 compared with sol, and at Kansas
at Minneapolis $50 cars compared with 476, at
City 1853, 900 bu against 12SO00 Chicago got Al
cars against II and st. Louis 10000 blu against
10000. Up at Winnipeg there We're 4o4 cars
in against 179. Locally the increase in elevator
Stocks for five days was reported as about 25O,
1000 blu. Flour shipments Of 72,425 brls yester
day indicates activity in milling The pit CON
tinued to watch Chicago very closely for line
the Armour movements That Armour is the
mai nsupport of the market at present is we'll
{ known. and many of the pit traders figure that
some day he Will let go and prices will get
bad fall Others take longer look ahead at
probabilities and believe that this will not fol-
low, that Armour knows what he is about and
is prepared If necessary to take delivery of
{ any wheat that may be rendered later in the
year. Meanwhile, Armour appears to be doing
nothing in the market, except to buy little at
times.
h In the Duluth Commercial Record G. H. Thorn.
ton prints his figures for the wheat crop, In
3 which he makes the total this year 212, 900
bu for the three states, giving Minnesota 49, ESQ.,
900 bu, North Dakota SO, 200, 900 and South Da-
kota At $50 900. There will be 150OO,O0O to
/. 20, 900 Blu durum wheat. ''We are aware
Thornton says. that these figures of area GA
4 900, 900 acres total) somewhat higher than
used by other estima tors and higher than can be
figured out from the government reports, but
It is hardly necessary to say how they are
arrived at, beyond stating that we profess to
know trife about the northwestern wheat
area than anyone who has gone record in
giving figures and results in estimating crops
In the past few years bear out this assumption
The Cincinnati Phce Current, in Its weekly
speiacl telegraphc summary says the week has
developed no abridgment of favorable influences
for maturing crops: Nearly all or corn now Sc.
cure from injury from frost. Yield indications
4 maintained and a percentage of merchantablc
= quality indicated. Wheat seeding progressing
favorably. Winter wheat has the promise of a
The Market Record incl.nes to the view that
northwest farmers will hold wheat for higher
prices, that this will make big difference In
the situation and that higher prices seem likely.
AS Poehler views 1t, the heav ybulls have been
loading up for long time but have not yet &C
complished their ypurpose Of creating strong
spot which to unload. In order to 90 this,
they must get the country interested on the
bull side. If the country does not become in
terested and refuses to load up with long wheat,
they will have to wait until Canada has exported
her big surplus and European buyers are forced
to look to the United States for supplies. Mean
while a few cents added to the present price Of
than If tn price had remained closer to SOv. 1t
therefore looks if "tailing'' on to the big
bull leaders would sooner later end in some
bad ''whipsaws,' even if the situation is such
that later on in the season high prices will be
warranted.
John Marfeld many healthy things in the
present situation and says he cannot be very
bearish while present -four business continues,
and wheat stocks increase so slightly, even tho
the movement Of wheat be heavy. - g.. -.4.-
Primary receipts 100000 bu against 1 1885,
1000 Clearances wheat and -four 1S3 90 bu.
Argentine wheat shipments for the week are
festima ted at 100000 bu and corn at 1.eoe,0
Equipments for tn corresponding week last year
g were 976,OOOO bu which is also the same as last
weeks shipments Corn shipments last week
were 900 bu and last year 3,21S, 900 bu.
= New York wired thta the edge is off the de-
mand for corn and oats for export for the time
and bids from the United Kingdom and the con-
! tinent fractionally lower again.
The weather map showed partly cloudy condi-
lions in the NORTHWEST, generally clear over
the rest of the grain belt. Temperatures higher.
/ The forecast says: Illinois, Indiana, Missouri,
Minnesota, showers; Michigan, Wisconsin, Da-
I kotas, Kansas, Nebraska fair
4 September wheat at Liverpool had another
furry yesterday, advancing equal to &c per bu.