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

Minneapolis Chamber Of Commerce, April s.
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 IN 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 higher general opening
tomorrow and hard spot in Chicago on whicE
to iquidate May wheat When trading began,
However, the local pit was quiet and firm IN
line with va higher Liverpool cables, but
showed no outside influence and little buying
that could be traced to Chicago. 1t was at
once apparent that Duluth was to get the benent
Z of any manipulation that Chicago might attempt
and soon that market began to advance selling
up / hc over yesterdays close. or to 7sesc Ior
Nav. Duluth was really the better market for
a little play Of the kind, for strength there
would naturally be taken generally as lndlcative
OF some thing better in the export trade Ihere
may indeed have been something better, and so
4 more legitimate basis for the rise. There was
8 also some gossip in effect that Thompson
3 Of Duluth has all the wheat up there sewed up
IN a sack This may likewise be the case. The
trade. however inclined to doubt whether
anything favorable enough to cause rise OF
1Mc had developed over night, and, right or
wrong, the conclusion grew that the Chlcago
longs were devoting their holiday to little
outside manipulation, the better to tone up gen
era1 sentiment and help them out of hole. otn-
er markets were not so lively as Duluth: Mime
apolis May sold from 76@761sc to 764sc, ana
markets barely holding the trivial gains at II
O'Clock at which time Duluth, having advanced
j. out of line Game back quickly from 1850 to 7sc
Elevator stocks have increased 100000 bu for
three days, and it looks like 100000 bu
wheat for Minneapolis before long If this keeps
up. Today the local receipts were A1 cars
against 200, Duluth getting 10 against 20. Chi
cago and Kansas City were both closed. hence
:. no reports. Winnipeg received 2S2 cars against
1873.
Local cash demand was good at lie over May
Piper's Winnipeg wire said: There has been
some seeding started around Portage la Prairie
and Brandon, and expect that with favorable
weather it will be general this week or next
g Some Of the days statistics were incomplete
or not In at ALL owing to missing reports from
the closed markets. stZ
AFTER the rapid and historical decline in
America in wheat reaction was naturally due,
but we do not on that account take bull1sh
view Of the situation" says Ross T. Smythe
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 to
US there is plenty Of wheat to go around. We
have good ground for thinking the shipment from,
the Black Sea will be maintained turnout the
spring. The winter wheat crop in Russia has
9 done excellently and the acreage Is larger than
last year. Germany has OverstOcked herself fol
some time to India will soon be taking
a hand in export Bad weather in America is
the only bull factor 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 tempera lures higher in all directions.
-+5s Peoria wired: ''Weather continues clear ant
:. fne gradually warming up farm work progress
ing very generally all thru THIS section
for No. 1 northern. -*ts.~a -; 49,.