The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-27
Local Firm Buys Heavily and in
Chicago a Much Better
Tone Prevails.
Northwest Situation Remains
Strong, with Very Little
Wheat Moving.
Flour Shipments Best for Some
Time-Local Wheat Stocks
Decrease.

Minneapolis Chamber Of Commerce, Sept. a.
Whallon was the principal buyer Of wheat to- |
day December wheat was bought IN Chicago |
yesterday by Shearson, and quantity was taken
over there downs making about 1,ooO'oOo
bu in all. Such commitment could hardly mean +,
short covering since wheat has not been high
enough make this at all probable 1t prob
ably meant that the Shearson crowd In chicago
is adding to long wheat already held and the
buying here this morning by Whallon tends TO
confirm it, since the two houses are closely con-
nected. 1t Shis support that held M1nneap-
oils December just Under TIC and turned 1t frou
early weakness to later frmness. The rumor Oh
a tidal wave at New Orleans. altho mainly
stock market influence of interest to grain
men, for the storm coming up from the gulf
should bring rains over the Ohio valley and mid
die Mississippi valley tonight or tomorrow. For
the northwest spring wheat territory the promise
is for fair and somewhat warmer weather TO
come. The increased movement so long expected
does not appear. Duluth had 165 cars duru rum
wheat today and lis cars spring, or only 2So
In all against 4O7, while the Minneapolis run,
tho carrying less macaroni wheat, some 10 cars
appearing on the cash tables early, had only 2e6
in all against $50, while Chicago got only 80
against Al and Winnipeg only 279 against 4O4.
The winter wheat markets did no better compar-
isons being $4,000 blu and $4,000 for st. Louis
and 141. 900 and 1913. 900 for Kansas City. With
SO little wheat coming in northwest, SO large
proportion of 1T macaronf, Minneapolis elevator
stocks decreasing and showing loss Of $4,000
blu for five days of this week and the flour mills
sending out Is ,4SS brls, the largest single days
shipments 50 ia on the new crop year, the situa-
ton certainly favorable for full mainte-
nance Of price. 1t is this very thing that makes
more bears and makes those who already
bears stubborn, for the supply s1tua ton
grows more acute the certain they are
that relief must come soon. Since the market
has gone along almost to OCT. l without any
and any day now may see big run OF wheat.
This Is indeed probable. Monday next ought
to see the beginning Of heavier movement and
increases instead Of decreases in local elevator
-
verely as the bears expect Is by no means GER
tain. There has been improvement in the -four
business and in foreign inquiry for our wheat In
the past few days and 1t may be doubted wheth-
or prices will recede very much when more
wheat does come In.
Liverpool was unchanged at first. but came
1s@%d higher later cables and closed 80
I'D higher.
The Price Current says: "Corn safe from
frost in principal corn states. Larger crop than
last year of good qualitby probable Early cut
ting for fodder indicated. Increased offerings
Of grain probable when fall work Is completed
Pastures not uniformly good and rain needed In
some sections to put ground In condition for
sowing
The Northwestern Miller says: 'There was
an increase in the Minneapolis -four output last
week Of SS,e55 brls. The figures were the aeav-
lest since Dec. 0. With rising wheat market
-four sales increased. Probably sales were
made in excess of the output. However, bust
ness largely done at old prices. Domestic
trade has flour coming to It, and Is will
ing to hold off and await developments. While
most northwestern mills have some &C.
emulation of orders on their books the volume OF
business engaged in most does not com
pare with a year ago. Not much flour sold
for export during the week. A few moderate
sized lots of patent worked to 60 to United
Kingdom markets, and London took little frs
clear"
Clearances. 3s4, 900 bu, including $4,000 bril-
-four Primary receipts, 100000 bu agains
1,359, 900. Six loads were sold for export.
The weather forecast: Indiana, rain tonigh
and Friday except fair northwest, warmer; I'LL
nos, fair NORTH rain south tonight, rain an
north Friday; Missouri, rain excep
fair northwest; Iowa, fair and warmer tonight
partly cloudy and warmer Friday, with raj
east and south; Kansas. Nebraska and Sout
Dakota. fair and warmer: Minnesota partl,
cloudy and warmer; North Dakota, fair, warme
3 east and south, cooler Friday northwest; lowe
Michigan, fair tonight, fair north and rain sout
Friday.