The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-05
Everything Still Bullish Locally,
but the Weather Fine and
Liverpool Easier.
Short December Apparently Pref
ty Well Covered and Not
Much Left.
Worlds Shipments and Other
Statistics Run Rather
Bullish.

Minneapolis Chamber Of Commerce. Nov. g.
A new week opening with perfect weather and
foreign markets easy with Liverpool Esd lower
had effect to Offset local supply conditions
should have put wheat up. AS it was, the
market. tho by no means weak and showing no
tendency towards serious decline found the lit
tie excess Of selling too much and eased OF
to f4Ac for December against Saturdays close
at I5sec. Kansas City easy, probably be-
cause 2950OO bu came in there against Id, 600
a year ago. Cash wheat in Duluth was on 3ac
for some grades. An indication of n speculative
change of influence upon the market came to
Whallon from Candy Of Chicago, who ventured
the statement that the speculative short interest
In Chicago December had been covered on the
rising market last week, and In the local pit
somewhat the same opinion was entertained by
close observers. This Is thing not easy to
know about. 1t would seem. however, that on
the rise which carried Minneapolis December
from around 72tc to just under rec, consider
able short December wheat must have been COW
ered for the difference between December and
May was AZ @4Ac about that time, and on
the rise 1t narrowed to Sc, spreading out again
to SA@S9sc. With reference to the local sup
ply, conditions were bullish as ever. FiftyseveD
cars wheat were loaded out Of storage and
co., 900 bu Is the decrease for two days. With
this the receipts must have been very discourag-
ing to bear, for, with the good weather and
after all the waiting for a respectable Monday
run, only 42T cars were In here against 7S7.
Here was straight loss Of 80 cars. The bears
found some little consolation In the 448 against
S17 at Duluth, which made up 1925 cars Of the
shortage. and in the receipts Of 1o7 cars more
fax and 20 cars more barley at Duluth, which
showed that were it not for demand for these
other grains and urgent efforts to get shipments
out BY lake, wheat receipts would be larger,
yet the fact remained that the wheat short,
and so it was not very satisfying argument.
At Winnipeg there were $50 cars against AT,
Mt Chicago SO against 17s and at st. Louis
10000 bu against 1a 600
In the regular Monday statistics there was
influence for strength Worlds shipments were
11,9o4, 900 bu against H. 52s 900 In the previous
week and IA, 144, 900 bu a year ago. BY compari-
son with a year ago the figures were bullish
for at that time Russia. the Danube ports and
Argentine shipped 1854 900 blu, while this year
they shipped 1850, O00 and American came in
with nearly half the total. 1t was shown by
New York that of the 1900. 900 blu reported by
Bradstreet as last weeks exports l 1920, 900 was
Canadian wheat and 100000 bu Pacific coast
wheat. but 1t was American wheat nevertheless
The visible supply increased $4,000 bu, bring
Ing the total I'D to 81 ,971 600.
Primary receipts 1,270, 900 bu against !, $685.
900. Clearances $4,000 bu.
Broomhall cabled: Wheat was steady at the
opening with values "a higher, the less favor
able Argentine weather prompting support.
Later the market steadied on the larger Russian
shipments to the United Kingdom and the very
small decrease in local stocks.
The corn market was steady with values IN
changed. Trading was neglected with the mar
ket dull and featureless.
Piper had the following from Finley Darrell:
One Oh tne uOSI CONSERVATIVE ana OeSt-pOSCeQ
grain experts in the northwest, this comes
from Stearns, s. D., says: The crop Of spring
wheat did not turn out as we'll as expected In
the vicinity of Bradley. It averaged about II
bu per acre, and graded little better than
last year. The durum wheat averages about %
Blu per acre. I received letter from friend
near Pingree. N. D., and he states the spring
wheat is averaging about il bu. 1t is going
below everyone's estimate The farmers are
holding more wheat this year around Bradley
than any previous year. and all of them
TO whom talked say they will not any
more blue-stem wheat. It will be nearly all
durum In South Dakota next year.