The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-30
Bears Thought the Fine Spring
Weather Would Break
the Market.
But Other Influences Prevailed
Chicago Bulls Are Get
ting Active. r,
Local Stocks Will Increase About
10000 Bushels for
the Week.

Minneapolis Chamber of Commerce, March 30.
Spring came in today in fact, and the indi-
cations of yesterday were made good. The
northwest had rising tempera lures and weather
favorable for farm work generally. The early
reports of yesterday. OF seeding or preparation
for seeding. were followed up today by others
from various localities Van Dusen- Harrington
had advices from the James river valley of
farm work under way. E. 5. Woodwork hau
wires from number of points, most important
( and significant Of which was one from Brooten
on the 500 and other stations farther out and
nearer the Red river valley. The valley
in several seasons only few years back, was
( the bad spot at seeding time. and long delays
in the spring, owing to excessive moisture, had
effect upon the markets One seeding report
does not cover it all any than one swallow
the valley have been favorable and it seems
probable serious delay from floods or heavy
ground will be experienced this season. Win
nipeg wired later that seeding will begin next
week in some parts Of Manitoba. In view of
these spring news items the bears rather looked
for the market to weaken, but it worked the
other way Liverpool was firm, On our closing
steadiness of yesterday, but particularly
on the sale of cargo Of La Plata wheat 10
France. At home the cash demand was good
at 1c over May for No. i northern, and Duluth
reported two loads of wheat sold for export
The increase for the week. estimated at $4,000
bushels. will be the smallest weekly gain for
some time. Receipts, with comparisons for
year ago lined up as follows: Minneapolis, 2IS
Saf and iIh %; Winnipeg. i45 and S.; Kansas City,
20, 900 bushels and $4,000; st. Louis, $4,000 and
&c. 900.
Chicago bulls continue calling attention to
the supply situation there. which might make
bad deal for the shorts. There is really
rnuc contract wheat in Chicago. but there
& is a lot Of it elsewhere Fatten the big
trader, appears to be in the market again for
something important. and, to judge from his
comment on the situation, is identified with the
bull crowd who are figuring on squeeze. In
wire to J. D. Fraser, he said: There is
very excellent demand in Chicago for cash
wheat from interior millers. The stock OF red
wheat here is about exhausted, and it is only
have to draw on our stock Of hard winter and
No. | northern. I doubt very much II we shall
see much Of any decline in wheat as the New
York holders long several millions of May
wheat and evidently intend to demand delivery.
and it Is not at all improbable that we might
see wheat advance several cents under such
sales
Argentine shipments for the week were 1904
900 bushels against 3536OOO in the previous
week. and 2.616O00 year ago. Of the total
last week 9 12S. 900 bushels went to the United
Kingdom and 1,176.o00 to continental Europe.
Primary receipts. 1900 bu against 100000;
clearances wheat and -four equal 149, 900 bu.
The market closed up strong. Marheld was
heavy seller of Minneapolis July and
s heavy trader generally His buying was taken
TO represent covering of short wheat. and he
was supposed to be undong some big hedges.
The Modern Miller says the general condi-
lions in regard to the winter wheat crop In the
principal producing states reported as favor
able. Some complaints made that wheat on
covered by water, looks bad and needs dry. warm
2 weather. In the Pacific northwest farmers will
generally their crops where winter killed.
thus minimizing the damage.