The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-19
English Market looks our way.

Minneapolis Chamber OF Commerce, Sept. TO-
English market strong and higher, and another
posting Of light local receipts moved wheat up
to 1870 for December and 77Ao tor May in the
eahy market. The bulls. tho expecting some
response to our strength Of yesterday, were more
than pleased to Liverpool cables come
gR @Hd higher, while the bears surprised
land disappointed to see prices y ole up on
second cables. The advance was due to 1rnness
IN American markets yesterday and also in part,
kBroomhaIl said, to bad news from Russia and
reports of famine. The local shorts were scared
and there was buying also for long account
the market showing the most strength for some
and Duluth. tho still leading. had much
smaller excess today over last year, 1877 cars
against 319 Chicago got 70 compared with A.
and Winnipeg 2oe cars against a., In St. Louis
Kansas City 900 against $4,000. go
There was another influence for strength in
wheat coming from coarse grains. Corn and oats
were strong and higher The Inter-Ocean had
! story saying that a squeeze In September oats
- impending, the American Cereal having a
line estimated at 2, 600, 600 bu To deliver these
oats cash interests will be kept busy in the
next nine days of this month There was
$4,000 Blu of contract oats in store in Chicago
Saturday night, part held by the cereal COM
pany. The elevator people can easily make
enough to fill their sales before the end Of the
4 month by working full time Cereal people will
use 90 600, 600 blu of oats in making GA tmeal and
other foods between now and the next harvest.
They figure that 1t IS easier to buy futures
:. and take delivery them than to buy the cash
4 oats, they get the futures free for a good
many months for nothing. The trade is also
talking about probable squeeze In September
corn. Armour has the largest line Of corn
bought. This has been known for months but
1t Occnsoned no uneasiness until yesterday, whsl
y very little September was to be had in the Chi
"A cdgo pit and limited buying by Bartlett and g
few other cash houses advanced the price tc
&c There was only $4,000 bu contract corr
III public houses in Chicago Saturday night
This created great deal of comment yester
I day as to the possibility OF big advance be-
tween now and the end Of the month.
4 Cash wheat was in demand at 4c over the
Il option for choice No. l northern. Some Of
the poor stuff dragged a little, but the goot
Z wheat sold readily.
\ Primary receipts were LOGO 900 bu. apains
4 LIZA 600 Clearances wheat and -four, 5e4 oo{
4 bushels.
Out of 4,952,O 900 weekly cearances Of whea
last week. 9o9000 bu was Canadian wheat ant
hour. Rosenbaum of Chicago offered $50 load
of wheat to the other side last night and ha,
one accepted Bids were 1a4c too low Chi
cago has received II. 1866, 900 bu wheat since tn
LIST Of July against 9,785.OOO bu for the SAM
4 time last year. st. Louis received 6 $50 900 b,
Il against 9.137, 900 and Kansas City 1880 oo
against II, e26, 900. a total Of about 40 900 OO
against 81, 900, 900.
The weather map showed Canada clear an
me northwest cloudy, with light rains in Sout
Il Dakota; the west cloudy, with rains In Ne
braska, Iowa, Kansas and parts of Missouri
central west clear except light rains along tn
Ohio river.
The forecast: Generally fair except possibl
s showers In lower Missouri and middle Mississippi
NaAeys. NO marked temperature changes