The Minneapolis journal., 1906-02-16
Argentine Shipments Fully Up to
the Estimates and Liverpool
Cables Weak.
The European Supply Situation a
Principal Consideration
just Now.
Good Local Business in May Oats
Gossip Of the Grain 81
Trade.

Miunapolis Chamber of Commerce, Feb. 16.-
Wheat fell to S2Ssc for Minneapolis May as soon
as business got under way this morning, for
nearly everything in sight was bearsh. Traders
on the bull side had thought that Broomhall's
! big estimate Of yesterday for Argentine SNIP
ments might prove too, heavy, but when the
regular report came along this morning 1t was
found even Il little larger than estimated, TOT
3,64O GOO bu wheat went out, of which 2,352,O ,OVo
went to the United Kingdom and 1.2SS. 900 TO
continental Europe. With this big weekly sup
. ply from Argentine came a report from Liverpool
covering India, in which the exportable- surplus
is estimated at So, ,O0O, 900 bu. In view OF the
recent drought reports this Is a big total, ana
lit; may be too high. lndia's eXportaple sur,
5. plus for five seasons past averaged SlOou0oo
bu.@ 1t natural that Europe should weaken
? with such big supply figures going around, and
SO May in Liverpool was I'D dover and March
I'D lower in second cables. The market halted
= locally at s21ac for Chicago appeared to be
ync.cL aud Cucuhy dnh AXE bought considerable
wheat, thought to represent covering or FORMER
again. The decrease in local elevator stocks
will be practically no heavier for the week a"
! up to yesterday, or about 2ooooo bu. MINNIE
@apolis had 267 cars in against 259, and cash
demand was good, As the option sank casn
wheat worked nearer, and some No. l. northern
sold at May price, making good the prediction
that they would together. altho 10. AZ
went at the May figure. Ac under still ruling foF
~ ANYTHING not very choice Advices from North
Dakota to local houses of good roads and
increased country marketing o. w
complaint OF car scarcity IS again De1nS nedru
from stations where the farmers are offering
more freely. Duluth received q compared
> with 6, and for Chicago the figures were II and
I. for, Winnipeg 107 and 81. Kansas City'S
comparison 80, 600 bu and 10, 900 and. tha
Of st. Louis 43, 900 and $4,000.
Flour stocks at all terminal and interior mill
ing points in the United States and Canada
Feb. 1 were 2493OOO brls, an increase OF
81 900 -brls last month, and compared will
! 2266 COO trls year ago.
y T"nr:;. lrth that the weather was hril!iar
and every thing apparently favorable. Lincoln
Neb., sent In damage reports on winter
3 wheat. but otherwise there was little news from
the crops. --'..... ...
Primary receipts were 447, 900 bu against
8S7. 900; clearances 81, 900 bu: :. f..
Chicago wired that foreigners had, reduced
their bids considerably for American and Cana
: dian wheat
Clearanees Of wheat and -four for the week
were 2,951 GAP bu.
Considerable business was done in oats. Fred
McCord bought so. 900 bu Minneapolis May oats
at 2S1sc, presumably for the American Cereal
company.
- The Modern Miller says: 1.-THE northern win
ter wheat states are we'll covered with snow.
Elsewhere in the states east of the Rockies lit
tie or no snow protected the crop during the
late cold spell. Some complaints being
received of unfavorable conditions, but damage
seems to be apprehended than actual. Mois
5ture has been plentiful the Pacific coast, and
~ crop conditions highly favorable"