The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-02-26
This Weeks Shipments Nearly
100000 Less Than the
Previous Week.
Wheat on Ocean Passage 45,752,.
600, an Increase of 1,7O4, 600
Bushels.
Damage Reports Still Coming In
from the Winter Wheat
Belt.

Minneapolis Chamber of Commerce, Feb. 20
liverpool came very strong this morning but
traders did not seem to care anything about TOT
eign markets and sold wheat quite freely on the
early curb, with the result that the opening
was fractonaly lower than the close of Satur-
day. A little covering rallied the market
trite but the advance was met with reneWeu
selling, the market selling down quarter OF q
cent to about put price. Scalpers took on a ut
tie long wheat on the break, absorbing offerings,
later Chicago turning stronger, small shorts
and scalpers started to buy and found very lit
tie wheat for sale until the price got above BIC
FOR the May option. r. s
On this advance, early buyers took profits
and with renewed selling by the bears, the
market reacted to the opening price. Trade has
been light all day with no important features.
1t is simply case Of dog eat dog among the
scalpers. the outside business is SO very light
that the professional element are fighting among
themselves for their profits Local receipts were
q little larger than expected and the cash de-
mand while poor, was little better than the
; last two days of last week. with prices on
about the same basis as reported then.
Local stocks increased 250,Oo0 for two days,
receipts $50 cars against sol year ago, Du-
luth SO against 81 Winnipeg 154 against 81.
Chicago against rs, Kansas City 10000 blu
against 1O7, 900 bu, and st. Louis $4,000 blu
against 1900 bu. We shipped 4s,44o blu Of
wheat and 563s6 barrels of -four.
Worlds shipments of wheat We're reported at
s,sso,0oo against 12,512,ooo bu last week and
9,SSS, 600 bu a year ago. every country re-
ported showing decrease from the previous
week. Wheat on ocean passage Is reported at
900 bu, an increase of 1 100000 bu, while
: the visible supply decreased 100000 bu
In the late trading the market turned easy
. selling down and making new low point. Bears
jumped on the market when they saw that the
demand not strong enough to carry the
market higher. .~
BroomhalFs Liverpool CABLE Wheat was
steady at opening. I'd higher,
due to the large decrease in stocks IN the
United Kingdom and the small worlds ship
nents for the week. Shorts We're nervous and
: covered some, and with the frmness of La
Plata offerings the nearby option gained an ad-
dtional I'd while the distant months held
I. steady. Corn steady at the opening, with
values unchanged. Later the market gained
A@ssd the higher American offerings which
prompted shorts to covering .@
Forecast: Indiana, threatening with rain,
turning to snow tonight and probably Tuesday.
colder; Missouri, rain turning to snow and cold
err tonight, Tuesday fair with colder east; Low
er Michigan, threatening tonight and Tuesday,
with snow, colder; Upper Michigan, fair to-
night and Tuesday, except snow near Lake SUI
: peror COLDER Wisconsin, colder and generally
fair tonight and Tuesday, except snow south
tonight; Minnesota the Dakotas, Nebraska and
Kansas, fair tonight and Tuesday, colder to-
night; Iowa. threatening and colder tonight with
snow east and south, heavy southeast Tuesday
generally fair; Illinois. northern part, rain
: turning to snow southern portion.