The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-15
Improvement in Flour and Other
Legitimate Influence for
Price Betterment.
Whether the Turn Is Permanent
or Only Temporary. Is Not
So Clear.
But the Bears Are Shown that
They Must Not Push Sue
cess Too Far.

Minneapolis Chamber of Commerce, March %.
Moderate receipts and much better tone TO
the cash market were early n NJ ao S Soi
2 red at about Sc over May, the best business
FOR some time The bears were quick 10 come
forward with deprecattng talk, and II was poAne
ed out that No. northern and No. hard, coll
tract grades in Chicago, and grades likely to De
rendered for delivery to holders of May. were
still dull and away from basis rtnat ~oulo
facilitate sales. This has been the bear move
In every recent instance. AS soon as aeVel-
opment favorable to strength Is at work II Is
knocked out by counter argument This time
the bear talk less effective, Tor Wnhe IL IL
true that general domestic conditions are SIN
bearish wheat is in better tone today than lot
some time. The business reported was actually
done II legitimate influence for price
betterment There Is some merit to wheat.
Prices may not hold, they may even 80 lower
hnt too much bearishness will defeat itself IN
time There would seem to be no immediate
reason for again smashing the price. we are
chasing the elusive export figure. As often az
we go lower Europe promptly goes lower. ano
we never get anywhere. If we have got to
sell our surplus we certainly have got to put
1t down low enough to make 1t attractive, but
has ss big il E se e to
q few days and let the thing shape Itself BE-
fore again starting in for bearishness Export
business sufficient to check decline has been
as bearish as this one If It does not come
stocks continue increasing, winter wheat holds
Its promise, foreign crops suffer no serious de-
serioration and the milling business does not
improve, wheat will 90 lower. But II the
marfst were held fairly steady for time
IL is quite possible something more favorable
to the price might come to light.
The trade Is closely watching the milling re-
ports for any improvement in -four demand
would be big help. Covering the situation the
Northwestern Miller says: with apparently a
smaller capacity in operation. the Minneapolis
mills last week increased their output 81. 100
bris. But even then, the figures represented
scarcely more than half weeks business. About
the same capacity is in operation this week,
For the corresponding week in 1905 1t was 27O,-
8s5 brls. Business with Minneapolis mills last
week varied. Some noted a moderate improve
ment in trade. especially on Saturday. when the
strength shown by wheat seemed to infu-
ence buyers to take little -four. Others could
see no very appreciable change. However, the
consensus Of opinion among m1llers Is that with
much"
More favorable reports continued coming. Du.
luth had inquiry from Mediterranean ports for
durum wheat and Montreal sent better sum
mary. One Montreal exporter wired Whallon
that he could sell 100 loads Of Manitoba wheat
for export at the nat market price, but with a
better outlook he was inclined to hold for
better figures Montreal he said, Is selling
wheat to Germany and France.
Liverpool closed I'd higher.
Elevator stocks, have increased $4,000 bu 81
Z compared with 176, and the other comparison,
were Duluth 65 and Is, Chicago 1 and p
Winnipeg Sc and So. Kansas City 900 ant
1000 and st. Louis $4,000 and 81, 900.
There is fair prospect for the reopening O.
I some of the closed -four mills next week..
The Price Current says: ~ Recent condition.
somewhat trying the wheat crop, hut not nee
cssarily disturbing to the general position. Bat
conditions Of roads interfering with trade opera
tons. Official estimate Of farmers wheat stocks
regarded as very largely short Of the real situa
ton.''
Clearances, $4,000 bu. -
Argentine shipments for the week are esti
mated at 5000, 00O@bu. IA r..
Broomhalls liverpool cable says: "Whea
I'D higher, at opening. support was result of
better demand s. for La Plata cargoes. Late
some easiness developed on talk Of more liberia
Argentine shipments. Corn steady, unchange
at opening. Market dull and extremely narrow
There slight easiness in nearby option
owing to the fact that both Danuhian and L
Plata offerings were more pressing
The forecast is as follows: Illinois, Indiana
Missouri, Iowa, Nebraska, Kansas South De
kota snow tonight and Friday; not much chang
in temperatures. Michigan, Wisconsin, fair
north, snow furries in south; colder. Minnesotf
g fair In east, snow ,hurries in west; not muc
change in temperature. North Dakota, fail
slowly rising temperature. :