The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-01-20
Renewed Liquidation Of Wheat in
All Markets To-day
Bears Win.
Later Rally to $1.14ss on Cover
ing by Shorts Who Had
Big Profits.
Receipts Here Surprise the Bulls,
Who Had Predicted a
Falling Off.

Minneapolis Chamber Of Commerce, Jan. 20
Big Argentine shipments broke wheat again to-
day ana sent May down to $1.13 by IL O'CLOCK.
The figures showed the Broomhau prediction OF
500 eco bu entirely too low, for there were 1,l1o
900 bu shipped, compared with H6,OOO bu last
week, and 1872. 900 bu last year. This Is the
time when the Argentine figures usually begin
to climb up. year ago at this time there was
big gain, followed Immediately by anotnet'
and every week to March showed heavy move
ment. That increases VIII follow again 10 sJn /,
eral opinion. Jan. 23 last year was the peg1n-
ming of the increase and it is starting IN AGAIN
close to that date. Much will depend upon nov
this movement runs for Liverpool Will NOT 40
vance slong as it is heavy, and VIII nkelyA
advance very quickly If anything arises to IN
dictate lighter movement. At home the move
ment Of wheat to market continues surprisingly
heavy to those bulls who predicted and DeIevea
in q falling off. Minneapolis had today $50
cars and Al OF Canadian. OF 4s5 In all aga,ns.
Rss. Duluth had As cars, against n 9s; on,caso
20, against 80; Kansas City &C, 900 bu. against
90 600 and St. Louis 49, 900 against 71.OOO. Y
The Chicago Record Herald of this morning
saws: much of the theory and opinion current
in the wheat market yesterday hlngea on o t
operations Of the Watson house at Minneapolis
and Of Wrenn here. The latter house has Deen
short for over week to such extent tnat 1laues
until yesterday failed to settle. The watson
many months. and the presumed northwestern
representative of the Wall street bulls ever
since the combination was formed: outspoken
expressions Of disbelief in the bull SIDE OF the
wheat market by the Watsons came by wire
from Minneapolis yesterday and aroused great
interest. Wheat traders were undecided as TO
the construction to place upon It, The wat
sons have been large sellers of wheat In chicago
for over a week. and it was the belief yesterda!
that the short line Of the Wrenn house would De
found to balance off against holding IN some
other house of the Wall street bulls. AS Watson
was selling heavily yesterday at Minneapolis;
the impressioH went abroad that the house had
not only sold out the Wall street wheat, Out
was getting over to the short side.
Primary receipts were IOS,UUO Du, dsalHol
500. 900. Clearances wheat and flour, $4,000 bu
The Modern Miller says: There is no chenge
70 note in the condition of the winter wheat
crop. Nearly all reports are to the effect that
the plant is doing we'll. The largest portion OF
the crop is covered with snow. which insured
protection during the recent cold "eatner anu
will give abundant moisture. -. - =. -
Broomhall says shippers are offering new
India wheat for May and June shipment at 80
per GENITAL below wheat now ON passage. Ar
i gentine farmers are holding their wheat very
firmly
Near the close the market rallied sharply
on covering by shorts who had good profits
in hand, and the market rallied quickly to
s1.14ss. "
July at $1.11@1.11k.