The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-12-05
Market Advances and Tho Weak
Toward the End Still Shows
a Fair Gain.
Holding Open Of Navigation
Draws Wheat to Duluth In
stead of Minneapolis.
Cables Fairly Responsibilities
and Gossip Of the
Day.

Minneapolis Chamber Of Commerce., Dec. o.
Wheat receipts looked big this morning, not IN
the actual figures but by comparison, Tor there
We're S01 cars in here against 1s5 year ago.
and 22S against 20 at Duluth The Duluth COM
parison was hardly fair one so far as the
effect Of the thing upon the market was con-
cerned for the close of navigation at the head
of the lakes does not always come at the same
time and Dec. 5 Is the date upon which the
official close usually becomes effective, Whlie
this year the time was extended little ana
there may be some grain loaded out very late.
even at higher rates Of insurance, In order to
meet eastern demand. Hence it was only fair to
consider this when looking at the Duluth posting.
AS for Minneapolis, the grain here was fa1r
increase in every way. and indeed, had the
same conditions relative to shipping and the
close of navigation in Duluth been In effect as
were ruling at this time year ago, some part
of the 22S cars in Duluth would probably have
turned up here instead. The Minneapolis stocks
have increased 900 bu for four days.
Chicago received IS cars against 81 and Winn1-
per ZIG against $50.
The cables, the not coming as high as expect
ed, showed a fair response to our strength Of
yesterday. BroumhaL cabled: 1.-The Liverpool
market quiet net at the 9pen with sts
day and a better inquiry for Manitoba wheat
prompted fairly good support. Prices, however,
eased of during the morning, with larger De-
cember tenders contract. Trading dull
and the market narrow. Corn was steady with
values about unchanged During the trading
there was some disposition to support, owing to
q better demand for American new crop and
prices made slight GAIN
Kansas City received 81, 900 bu against &c, 900
and St. Louis 81, 600 against 10000.
A cold wave tonight followed by warmer
weather Thursday is the general prediction.
Primary receipts were $50, 900 bu, against
Te5, 900 bu. Clearances, 297, 900 bu-
Poehler says: IAN analysis Of almost every
factor that goes to make up the general stu
alton indicates that the present price Of wheat
Is on an very sound basis. The situation ap-
pears plainly bullish, but yet no decided
tr,nn ", thn 40
There Is, however, plenty Of time between now
and next July for change, and, everybody
thru experience knows, change in sentiment
comes quickly, sometimes Unexpectedly or over
night Some day May wheat will sell at S5c
and then speculative conditions, such as badly
frightened shorts, and big demand from the
usual eleVenth-hour bulls will cause still high
er prices, possibly 90c e5c. This would only
be repetition Of what has happened many
times before under the conditions that
now prevail
The market was strong and gained from the
nrst, and, while there was a setback near the
close, there was still slight gain for the
day, and the closing tone indicated no weak
ness.
Broomhall cabled: 'Mr. Danvers, our Ar
gent1ne agent cables that hail has fallen but
Is unable to tell the extent Of damage done
The Ohio December condition is 9S: last
month So; last December, 9S; at harvest, 90:
ana for the crop, 43,O00.O0O .bu. The report
makes acres soWn this fall per cent short