The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-15
Foreign Markets Unsettled, Some
Up and Some Down-Liv-
erpool Higher.
Steady Accumulation Still Going
On in Minneapolis Eleva-
tor Stocks.
Export Business Larger and Rus
sian Shipments Much
Smaller. -.

Minneapolis Chamber Of Commerce. Jan. 3D.
A strong market, yet one marked by 1ndeolslon
and conflicting news was on IN wheat at the
opening today. The trade is just half way thru
January and as yet the January rise that was
talked about far back mid December, has
failed to show itself. The market has been
strong and somewhat higher but gain of
cent in a week can scarcely be considered
+ bull market, such as usually to be expected In
January. The bulls believe that 1t will come.
however, and that the short interest in May which
Is large. will be driven to cover. A number of
bul1ish things are found in the present summary
that were not to be found week or ten days
ago. Russian shipments for the past week were
only 774,0OO Blu, while America sent out 4.44O.-
600 bu, a most decided change from the compari-
sons of a month six weeks ago. Danubian
shipments are also lighter. On the other hand,
there Is no lack Of wheat our side to keep
s up the movement. Primary receipts continue
running comparatively heavy, and locally there
In the pressure of the steady accumulation at the
rate of 100000 bu a week. the gain for the
first two days of the official week being $4,000
Blu. It is true we are doing an export trade at
rate to absorb our surplus If it con-
. dnues, but the conservatives maintain that this
Is just as it should be. for we have to sell the
stuff. and If we are selling 1t we ought to con-
gratulate ourselves and not start in to bull
prices and stop the foreign purchases and make
the surplus back up on us. The bulls, the
other hand. see deficiency in the worlds sup
ply, or If not actually a deficiency at least a
total much less than formerly estimated. This
is based very largely upon reports Of crop dam
age in Argentine and India There Is no doubt
at all that there is need Of rain in an important
producing district in India. and that there has
been too much rain in Argentine. How serious
these things Is the question. The trade
guides on the foreign markets in good part and
Europe, yet, reflects nothing very serious.
Today Liverpool was up 70 @1ad, but Antwerp
was unchanged, which taken to mean that
the Argentine situation could not be SO very
bad. Paris was up equal to SO and Budapest
& was &c higher.
~ Minneapolis got 6sS cars compared with COS,
Duluth 121 against 20, Chicago rs against 10.
winnipeg received 126 compared with "a. The
st. Louis comparison WAS 95 900 and r. 900 and
that of Kansas City IS, 90 blu and g. OOO Cana
dian stocks at Fort William and Port Arthur
show increase of 39O,S76 bu for last week
and total 4,s79,34s. Even at that they are
a trihe under the total Of year ago, when
400 615 blu appeared. The quantity Of bread
stufs on passage at %, 04o, 900 bu decreased for
the week by 632,0OO. The visible supply in.
creased 1.6ss,ooo Blu, bringing the present total
TO 41,023 900 bu.
Primary receipts 1,16s,oOo against s7s, 600 a
year ago.
Following from st. Louis: "Growing wheat
thru north central Missouri mostly looks we'll
good green color. Some lste-sown fields will
make nothing. but what is liable to prove the
undoing Of this crop Is that the plant should
be dorman and not in growing condition in
midwinter.''
st. Louis wired later: ''Weather bureau pre-
diets drop Of SO degrees by night for this terri
tory. If that comes without snow protection il
will hit something hard