The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-04
Prices Move Up Fractionally, but
Trade Is Light Argentine
Reports Mixed.
Increase in Local Elevator Stocks
Of 1850. 900 Blu So Far
This Week.
TWenty-six Loads Sold for Elk
port, Principally Of Mani
toba Wheat.

Minneapolis Chamber Of Commerce, Ian. A.
The creeping tendency was seen again today in
wheat, prices moving up slowly and by small
fractions vet showing fair gains as results.
Minneapolis May sold at sessc and Chicago May
at SSIsc. Liverpool was firm and Chicago
allowed evidence of greater activity on the part
of the bulls. The early Argentine news was
rost influential. but as the later reports turned
very conflicting the trade hesitated over them.
An early Rosario cable received over the Piper
wire said the weather is very unsettled and
wheat in wet and damaged condition, difficult
2 to thresh, quality deteriorating. A Buenos Aires
correspondent said: II am Receiving complaints
from Santa Fe and CordoVa no business on ac
count Of weather; strike threatens again.
Kalb's Argentine cable came in later and said
that the weather is improving and the situation
unchanged, with the harvest very favorable The
fact that Antwerp made important change
rather took the edge of the bull reports, for
Antwerp Is in close touch with Argentine. The
foreign situation is being closely watched.
George Daggett had some English advices speak
ing Of the likelihood of famine In Russia later
on, and indicating that many well-informed men
In the English trade believe the Russian crop
losses have not been overstated, and that the
erect OF the rushing out Of wheat by the Odessa
exporters can only be disastrous for Russia In
the final count. The Atlantic seaboard sent ad-
vices OF very favorable prospects for export
trade in srainaN Baltimore says there
4 are more grain vessels In the harbor today than
at, any time in years. no less than twenty car.
goes will go out In January. and, in all, about
6 100000 ou Is represented by engagements of
vessel room.
MINNEAPOLIS elevator stocks have increased by
l,56OOOo bu 80 Tar. The week should show a
gain fully up to last week. Receipts here were
337 cars against 29e, in Duluth SO against 10,
an Chicago 10 against IT. The Kansas City
comparison was 60, 900 bu and 1888, COO and that
of st. Louis 600 and 81, 900. Winnipeg re-
ceived 147 cars against 50. -
The Price Current says there are some reports
OF Ill effects of freezing and thawing on wheat,
but mdnffestly without much If any definite in
jury. The crop is mostly quite promising. Con-
ditions relating to corn and the movement are
about as previously indicated. Mild weather CON
dtttons are fayoring stock feeding. -.
George Duvtgneaud says: There Is q growing
sentiment to the effect that wheat is fully worth
present prices and that 1t Is quite probable that
Europe will vet need all the wheat Of our last
years crop that will not be needed at home.
Added to this. there is a feeling that 1t Is not
safe to sell wheat short too freely so long it
is not known IN what condition the winter wheat
here and abroad, will be found in the coming
spring" n ! -.'' - =,
Thornton Of Duluth sizes up the northwest sup
ply situation as follows: Receipts of north
western spring wheat at Duluth and Minneapolis
to Jan. total SO, 100000 bu, including durum.
Country mills have ground IS, O00, 900 bu, aside
from what was shipped them from Minneapolis;
country elevators have In store at this time
about Is, 100000 bu. The total is 40 600, 600
blu In farmers marketings to Jan. 1. My estt-
mate Of the crop was 80. 900, 900 bu, Indicating
that farmers still have r. 900, 900 bu on hand or
81 per cent Of the crop. Seed will require 30
o0O. COO Blu, leaving 81, oOo 900 bu available for
marketing and with the rs, o0O, 900 in country
: elevators anQ- 1OoUOOUO at terminals, there is
total supply of 92,0oO,ooo bu available for the
ensuing eight months consumption On an av-
erage output Of 600 brls weekly. Minneap-
oils mills will require 1900, 900 bu; Mime
apolis shipments, outside the three states will
require 100000 bu: country mills viii use
10000 900 bu including what Is shipped back
from terminals. and Duluth mills and shipments
will require 15,000,O 900. In round figures a
total OF requirements reaching 100, GOO, 900 bu.
There is an apparent deficit Of 5000 900 bu
and while no one imagines for minute that
there will be deficit, 1t is quite apparent that
the northwest can take care of what wheat ts
left up here - ...z'e
Primary receipts Were e44.o0o blu against 5s5,
600 last year Clearances PSI. 600 bu. r
- Bradstreet's reports increase of $500, 900
bu in the worlds visible supply. Last year at
this time there was a decrease Of 100000.
twenty six loads were taken for export at
New York. being Manitoba wheat principals.
Muehling wired Watson that New York local
Hour trade is much better and about $4,000
brls were sold there In the last few days; for
= d0IneStic Account - - = - -