The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-19
Wheat Makes
oEsning Quiet and Fairly Steady
The Market Falls Off
Later On
The Modern Miller Presents a
Very Bearish Winter Wheat
Summary.
THE Chicago Failure Has Little
Effect Upon the
Market. )

Atirr eapolis Chamber of Commerce, Jan. ID
Wheas was .'rutty'' again this morning, open
ing QS,iet and steady and moving only Iractlohat
Sly lEserest in the local field ran almost entirely
4 10 ste ks and the Wall street comment helu
the atrention of spectators. The suspension OF
s NIcRe3nolds s. Co. of Chicago had no effect This
was not a failure in the usual understanding OF
the word. The firm was not doing business
enough to make go OF it and so decided to close
up. The house was good one ana advlces Were
that all obligations will be discharged In tull.
AS it's principal business was in coarse grains
anyway, wheat not affected. The local cash
s,demand satisfactory and No. northern
STEADY to a shade flrmer relative to the option
selling again at 2Ac under May, but going At
&c under for some lots. No. 2 northern was 40
41ac under. The movement this way was~hghter
as was expected would be the case Following
= the recent storm, and only 500 cars turned VI,
against 435. The increase in local elevatoVstocks
for the week will be about $4,000 bu. This
is pretty good gain, yet it Is not so heavy as
y in the several weeks preceding. Duluth got II
cars against 40, Chicago q against 20 and
Winnipeg 1O5 against 81. ST. Louis received
81, 900 bu against 46, 900 and Kansas City $4,000
compared with $4,000. ~
20 Primary receipts sos, 900 bu against 10000
4rClearances f246, 900 bu. - sig. = -: 81
New York wired reporting 25 loads of Mani
si toba wheat all told so far for export
80 Argentine shipments, of wheat were only
100000 bu, estimated 100000 blu. 1t looks as
tho Liverpool was afraid Of the effects of the
]; Chicago failure more than anything else. The
weather Is unreasonable and probably sbreedine
trouble for the winter wheat. Temperatures are
livery mild, while in the extreme northwest 1t il
r14 below, Broomhall talks of larger Argentine
offerings, but says the undertone is strong or
- better spot demand and decreasing stocks. The
aYweekly Argentine cable says the wheat market
Is easier with quiet demand. Arrivals from
the interior are increasing slowly and the quail
fly continues satisfactory. The weather is more
favorable as affecting the threshing and move
ment. Estimates of the exportable surplus have
sabeen slightly reduced. The corn market is firm
i and the demand quiet. Arrivals from the interio
are very small The late rains have been yer,
2 beneficial for the corn crop. r. ~ 49,.
>s.a The Modern Miller says: Returns from 1Ot
correspondents We're received in reply to an in
"Assquiry whether winter wheat had been damaged
II by freezing and thawing weather. and If SO, tt
~, What extent. Comparatively few statements O
f. damage We're reported from any cause, and as
G6rule the damage was small. 1t stated tina
farmers did not consider that damage by freez
B ing and thawing as problem before Februar,
or March. Kentucky and Tennessee reportet
H poor stands and fly in the wheat. The mos
general complaint was from Texas, which wa
3 that excessive rains had lowered the condition
Of the crop. Taken as whole, the reports from
the winter wheat belt indicate a satisfactor
a. position of the crOD''