The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-26
Better Cash
Wheat Sells Closer to May Here
for No. 1 Northern and
Moves Off Nicely.
The Southwest Also Reports a
Much Better Demand from
the Millers.
Foreign News Not Especially I'm
portant Gossip of the
Trade.

Minneapolis Chamber of Commerce. Jan. ~
One good feature in wheat today was the I'm.
provement in the cash demand 1t had erect
upon futures and held the market steady thru
the early part of the session. No. northern
sold at ia @2c under May. and No. z moved
up closer to the option. going at BIZ @4c un'
der. Demand also much better for wheat
to arrive, and No. was IN @11c under. and
No. 9 sh@4c under This very slight differ
ence between No. spot and to arrive was
a favorable showing. With this there were
steadier foreign markets, Antwerp coming &c
higher Berlin 1sc lower, Budapest UNCHANGED
and Paris nc higher Liverpool Hd
higher on second cables. but closed, u lower.
The foreign news in general was not much
changed Ross T. Smythe cabled from London
that Russian shipments will run light from
, now on, and that the drought continues III
India. but little else came in the way Of Eu-
ropean advices up to noon. lndia snippeo only
1872 900 bushels, compared with 1'o2ooo
year ago.
For the week the increase Will be ABOUT
800, 900 bushels. and Minneapolis elevator STOCKS
should DO close to 15,5O0.OO0 bushels IN TO-
morrow's report. Receipts were not very heaVy'
266 cars turning up here. against 271 Duluth,s
comparison was 80 and ii, and the figures else
where IA and % for chicago o. ana 10
: for Winnipeg. $4,000 bushels ana ae'ooo tor
St Louis and II 200 bushels and $4,000 for
Kansas City. Primary receipts were 5Z6'oo1
bushels against 452, 900. Clearances, wheat AMI
Hour, 139, 900 bushels.
y Poehler says: at is true that stocks or
large and still increasing. This, with no sign
pointing to immediate improvement IN the eS-
port demand, is the very prominent, put the
only bear card. 1t is being freely dlsplayed
> and has demoralized the bull forces and caused
the market to appear very One-slded appear
ances however, not always what the!
SEEM The average Spectator is guided very
much by the visible supply. and In dong so ne
would not err so much II he did not allow his
Concentration to run wild and jump at extreme
conclusions The Spectator is not the whole
unreliable one. for he changes just as quickly
as the weather. The winter wheat crop or
America and Europe has still to so thru trying
periods, notwithstanding that up to date crop
conditions are satisfactory. Today all IS lovely
tomorrow all may be the opposite AFTER the
~speculator and the weather, comes another rae
: tor that has more than once changed the course
of the market. That Is the rich American
farmer, in position to hold wheat II prices
are not satisfactory"
The Modern Miller says: 1.-THE recent cold
wave was preceded by sleet and snow that
covered the winter wheat in all sections OF
the country, except in the southwest, 1ncluo'
ing Kansas. No reports Of damage have been
received, but from the southeast come com
plants that the general appearance OF the
crop is not satisfactory
Clearances for the week were S,4S55So bu
wheat and 5,e33,2e bu corn.
Broomhall cabled: ''Argentine wheat marker
firm with sellers reserved and a fair demand
E Arrivals from interior larger, quality is unsat
%isfactory. Weather favorable for moving
at 100000 ku. Arrivals at ports scarce
and strike of dock laborers threatened
st. Louis. Chicago and Kansas City reported
4 sales of 100000 bu wheat to millars.