The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-13
They Rush to Buy in Their For
mer Sales and Send It
Climbing to 1870.
Still No Relief from the Rail
roads, and the Situation
Becoming Acute.
Woodworth a Big Buyer, Also
Watson-A Lively Bull
Market Today.

Minneapolis Chamber of Commerce. Nov. 49,
Expectation Of bullish comparison IN todays
northwestern wheat receipts found realization
when the postings showed 315 cars less in Mime
apolis mad Duluth than on the corresponding day
last year. This with some other influences on
the strong side had effect to harden the market
and prices turned up fractionally Inc pears'
however, We're less disturbed by the comparisons
than might have been supposed. They argued
that since the corresponding day OF last year
was the heaviest of the fall grain movement
OF 1906, the comparisons with a year ago would
necessarily be less bullsh from now on Inc
morning papers had news items about the prob.
able relief of the situation and the promises
of the railroad men that more cars would be
available and general comment was of better
things to come with reference to northwest ter
minal supplies. The Situation, however, was no
better Stocks showed decrease of 10000 blu
SO far on the week, and receipts here were 2oo
cars against 270 Duluth getting 663 against 963,
while in Chicago there were only q against
S54 and In Winnipeg 700 against 1888. The
promises of better railroad service were lost in
the effect of storm that started In up country
and from early epots looked as tho 1t might be
heavy enough to block up the lines If it contin-
ued for any time. Larimore bad seet and at
Comstock 1t storming and threatening snow
/ while the operator at Hillsboro reported 1t
BLIZZARD.
Liverpool was rather steady and tho unchanged
to 5sd lower at first was inclined to strengthen
later on later on advices at first in Argentine
received by Broomhall. The continental markets
Rerlin also nc higher. The following is the
summary Of foreign weather and crop conditions
IS published in Broomhalls Corn Trade News:
United Kingdom-The weather is fine and crop
prospects are more favorable France-The fin
1shing Of seeding has been interrupted by I'M
favorable climatic conditions, otherwise the out
look Is favorable. Offerings rather larger. Ger
many-The crop outlook favorable and trading
In foreign grain improving. Hungary-The
weather conditions for crops favorable There
are some complaints head regading the unsatis-
factoy quality Of corn. Shipments from the
Danube opt to continue light until spring.
Russia-General rains have fallen in the south
west and crop prospects are improving else
where the outlook Is fair to good. Stocks in the
southwest are increasing; in the Azof they are
light mad elsewhere fair. Italy-An official
rains have improved the crop prospects. North
Africa-The wetaher is athe too dy. Rumania
-Weathe conditions favorable. Some CON-
plants heard regarding the unsatisfactory
condition Of corn. -
Kansas Oity, received SO 900 bu against es, 900
and st. Louis 81 900 against 81 ,oOO
Bradstreet's report Of the worlds visible shows
nincrease of 1000 900 blu against ,oeo, 900 last
year. :.
Poehler says: "There is important devel
opments In wheat and the situation xenains
unchanged. Trade, especially outside, is ex-
tremely light. Traders that usually do things
and start the market either one way or the
other, are either doing nothing else they
limit their trading to scalping operations The
result is that on fair declines offerings become
practically nothing, while the fair advances
profit taking and short sales causes reaction.
Inc market is therefore in rut. There is
some investment buying in evidence, but it Is
SO light that as yet its volume has done no
more than to help in causing steadiness.,,
Z E. W. Wagner In the Chicago Evening Post
says: Now let us analyze the situation. Really
the farmer is not heard to grumble about the
price of wheat. He continues to sell. The
owners of elevators who have filled their Chi.
caso houses dreaming of more money and
in uhooS
They We claimed every millionaire in this country
was buying wheat, and every beggar in all the
this and let the millonaires do the eating and
the poor the owning of the wheat and the
price might go up with a rush. Do you notice
that their ideas of wheat being wanted all
center In next May, just when the world be-
gins In earnest to harvest another crop? If
10, DOC, 600 bu of wheat now in Chicago are not
wanted for hungry people. what but CO
calamity make it needed at next harvest fine :?
Do not play crop failure SO far ahead If
farmers Increase acreage to- sell wheat roc
who Will pay carrying charges to next May :?
a few things can make you feel sure wheat will
advance They are simple, but all absent. Pro-
ducers must sell solely for their home markets.
Primary receipts were 1,235,OO0 bu against
1,48O 600. Clearances wheat and -four.
Sidney Love wired Stephens: "a prominent
elevator concern Of $50 houses thru Minnesota,
South. Dakota and northern Iowa reports only
10000 bu in all Of its houses against over
1000, 900 last year. Another elevator concern Of
the northwest says houses thru central and
southern Minnesota and South Dakota are prac-
tically empty"
The market took sharp squirt after the noon
hour and climbed rapidly, December gaining on
May and the difference narrowing appreciably
The publication in T h n a last night
or receipts for last year thru November, with
forecast of what may reasonably be expected
to come this year, set Chicago calculating and
soon messages which were a rehash of the Minno-
apolis news of yesterday began to appear here
The shorts took fright and bought in quickly
and the December price ran up with great rapid
". On the advance Minneapolis worked up to
d premium over Duluth, ,