The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-24
Taking Out Of $4,000 Blu sug-
gests that Maximum May
Have Been Seen.
Yet 17,820,000 Blu Is the Big
Total Remaining-Cash
Wheat Firm.
Today's News in General More
Favorable to Bulls than
to Bears.


Minneapolis Chamber of Commerce, March "a.
Fifteen thousand bushels decrease in local
elevator stocks for one day big item
for the bulls this morning 1t was the first
showing of the kind for some time. Again the
bulls said that the end Of the long upward pull
in wheat stocks is at hand and decreases Will
follow from on, but the bears thought not.
Receipts here today of $40 against 1875
year ago encouraged them to believe that by
Monday the little loss will be wiped out, and
that, while the stocks may now be close to top,
the tendency will be for steadiness for the pres
snt and no important changes. On the other
hand there is more wheat being loaded out of
elevators now, and some outside milling demand
is noted in the market, while the -four ship
ments at SO, 800 barrels looking up, and 1t
may be that there will be no surplus left over
from the daily receipts from now on to go into
stocks 1t will depend of course upon how
much comes in and how the flour orders run.
There would appear to be a pretty fair flour
business going on, for while milers are not
Dragging about it they are buying wheat right
along, and No. l northern holds firm at 1c
ever May. If the stocks begin to fall off the
bears will have important argument taken
away from them. If they hold steady they will
bear upon the market again. however, later on,
provided no crop damage comes along. There
is a total in the weekly statement of II $50 1913
bu, which is $685. $50 bu more than a year
ago. The contract stocks. at IL 625471 Blu,
compare with 7,21s.641 bu a year ago. In
Buffalo there is decrease of 100000 bu esti.
mated for the week This will tend to hold
down the visible figures Monday, and it is
possible there may be no increase. For the
worlds shipments Broomhan estimates 5000, 900
bu. and he predicts moderate increase in the
quantity on passage. For the week the arrivals
Of breadstuffs in Liverpool totaled 5000 900 blu.
The advance in March wheat in the English mar
kets is due principally to the poor condition Of
some Of the Argentine wheat arriving there.
Australian shipments for the week were 76S, 900
bu compared with I, 424,O00 week ago and
SS4, 900 a year ago.
Comparisons at other points were SO cars
q ,1,,th ona r md
81 at Winnipeg 25, 900 blu and "a, 900 al Kansas
City and $4,000 and "a, 900 at st. Louis Pri
mary receipts were 900 bu against 361, 900,
and clearances wheat and -four equaled $4,000
bushels.
Ruxton of Miami, Mo-, wrote to Schrener
offer. Our mills will need it all. Farmers have
no wheat to speak of and country mills
have been buying in Kansas since January.
Country roads so impossible they would mire a
sn1pe. Last year oats were all sOwn this time;
not an acre broken yet
st. Louis wired: ''All spring work is retard-
ed the farms, and the lateness of seeding
should have Strengthening effect on grain mar
kets especially OATS
New York wired: There is better inquiry for
American wheat today. Six loads hard winter
taken via gulf for September shipment. For
eign situation is hardening. Steamship agent
here says they ordered two of their vessels from
Argentine ports yesterday because of low freight
IA ties and inability to get cargoes.'
The weather map shows rising temperatures,
with snow in North Dakota and Nebraska, rains
in Oklahoma. Kansas. Missouri. Indiana, Ohio,
Kentucky and Tennessee. The forecast reads as
follows: Illinois, Indiana and Michigan, threat
ening rain tonight and Sunday, slowly
rising temperatures; Missouri and Iowa, rain or
snow tonight and Sunday, slightly warmer Wis
consin. Minnesota and North Dakota partly
cloudy, warmer: South Dakota Nebraska and
Kansas, showers hurries tonight and
! Sunday slowly rising temperatures.