The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-03
With the Former Wheat Market
Closed the Latter Jumps
Up 11ac.
Minneapolis Follows, but Some
what Hesitatingly Fine
Weather General.
Stocks Still Gaining a Little
News of the Grain
s, Trade.

Minneapolis Chamber Of Commerce, April B.
Duluth stepped to the front and center today
and led the grain markets. Chicago was closed
for election day. 1t was expected that Chi
Cages fine hand would be felt here III manlpu-
lation, and that the big traders in the closed
market, who are bulls, would take advantage OF
the situation to work up the outside markets,
the better to insure a higher general opening
tomorrow and hard spot in Chicago on Which,
S to liquidate May wheat When trading began,
However, the local pit was quiet and hrm, IN
line with IA higher Liverpool cables, but
showed no outside influence and little buying
that could be traced to Chicago. 1t was d.
once apparent that Duluth was to get the benefit
of any manipulation that Chicago might attempt
and soon tibet market began to advance, selling
up hc yesterdays close. or to 1880 Iof
May. Duluth was really the better market for
a little play Of the kind, for strength there
would naturally be taken generally as indicative
OF some thing better in the export trade. There
may indeed have been something better, and SO
5 more legitimate basis for the rise. There was
also some gossip in effect that Thompson
Of Duluth has all the wheat up there sewed up
In a sack, This may likewise be the case. Inc
trade. however, was inclined to doubt whether
anything favorable enough to cause a rise or
INC had developed over night, and, right or
wrong the conclusion grew. that the chicago
longs were devoting their holiday to little
outside manipulation. the better to tone up gen
eral sentiment and help them out of hole. 9th
er markets were not lively as Duluth: Mime
apolis May sold from 7e@7ebc to 7e1sc, and
st. Louis May from 1890 to 1910, the two
markets barely holding the trivial gains at IL
o'clock, at which time Duluth, having advanced
out Of line Came back quickly from 1880 to 7sc.
Elevator stocks have increased 100000 bu for
three days, and it looks like 9,OO0.O00 bu
wheat for Minneapolis before long If this keeps
up. Today the local receipts were A1 cars
against 200, Duluth getting 40 against 20. Chi
cago and Kansas City were both closed, hence
] no reports. Winnipeg received 2s2 against
1873.
Local cash demand was good at 1c over May
Piper's Winnipeg wire said: There has been
some seeding started around Portage Ia Prairie
and Brandon, and expect that with favorable
weather 1t will be general this week or next
or not in at all. owing to missing reports from
the closed markets. p ~,
3 AFTER the rapid and historical decline in
America in wheat reaction was naturally due,
but we do not that account take bull1sh
view Of the situation" says Ross T. mythe
Of Liverpool in the Inter Ocean. 'If the grow.
ing weather in America is favorable we think
prices on this side will sag. 1t seems clear tc
us there is plenty Of wheat to go around. We
have good ground for thinking the shipment from
Z the Black Sea will be maintained turnout the
3 spring. The winter wheat crop in Russia has
i done excellently and the acreage IS larger than
last year. Germany has. overstocked herself fol
some time to come. India will soon be taking
a hand in export. Bad weather in America is
the only bull factor we see.'
The weather map shows it partly cloudy west
and northwest with light rains in Kansas, Mis-
souri, and Oklahoma. clear in the Ohio valley
and temperatures higher in all directions.
Peoria wired weather continues clear ant
fine gradually warming up farm work progress
ing very generally all thru THIS section
for No. 1 northern. ~s~7- -. AN.