The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-20
Wheat goes soaring today.

Minneapolis Chamber Of Commerce, Sept. 90
In the semi darkness of the morning. with rain
threatening and the suggestion Of soaker for
the country and delay to the wheat movement
the bulls got under the market and lifted De-
cember wheat to 74c and May to 7sc The
shorts took fright when they saw how things
We're going and their hurried covering increased
the excitement Of the pit 1t was a case Of
fright on the part Of the shorts, but for the
bulls It was only the exhibition of strength
that they have been talking about for some
time It Is the claim that threshing returns
are very disappointing, and many sections are
indeed sending in less favorable reports than
expected. Meanwhile receipts here continue
light, and today 238 cars appeared against 28S
Duluth got 252 against 395, Chicago 8S against
81 and Winnipeg 200 against 2O1. In st. Louis
the comparison was $4,000 bu and 49, 900, and
In Kansas City $4,000 against 122, 600.
Commons an early buyer of December
also Van Dusen- Harrington, and this looked like
good people back Of 1t. December, having sold
at 72$c, started up and struck 74c without
stop, and May sold from 1870 to 7Sc without
check. Then there a little hesitation.
Meanwhile September sold up and December and
September came together at 1880. Corn was
strong sa r and up about %e from low point Of the
t1cular Importance and Liverpool was only
sd up.
In Chicago Love bought wheat and Cudahy
bought corn. The strength in wheat in Chicago
was attributed to the disappointing movement
In the northwest and growing belief that the
size of the crop has been over-estimated. II
to his wheat, the market. in the opinion Of
leating Chicago traders, is likely to advance,
and possibly 1t will force the foreigners to
cone i'll and take spring wheat at our
prices. There Is, however, car shortage on
nearly all the western roads, and several things,
including heavy livestock Shipments operate
against a heavy grain movement in the spring
wheat states. The bulls says the light move
ment is evidence of an Oyer-estimated crop: the
bears say the wheat will come in quantity u
htiie Later when the roads can handle it better.
Much Of the news from the fields is bullish.
a fair fllustra ton Of the kind of report that
has been coming for the past several days, and
that has had its effect upon the market, Is
the following received today by Lewis from
Comstock. M1nn.: 1--WE have report from an
other thresher who went out northwest with
his machine. After travelling 800 miles, he.
concluded that the country northwest of Rugby
had the best prospects for a good yield of
wheat, so he went to work there He found
that instead of the wheat turning out 25 or
80 bu per acre. 1t yielded only about ID bu.
ne lost s75 on the first job There was too
much straw for the amount of wheat obtained.
He Is now bringing his machine home"
Inc Price Current says: "A large corn crop
Is practically assured. Cutting is general. In
dlcatlons favor full acreage Of winter wheat
being sown. Interior grain movements moder-
ate."
T. Liverpool cabled Moderate realizing at the
start caused the speculative wheat market TO
open steady with values unchanged, notwith-
standing the strength in American markets YES
terday. The undertone continued firm on the
continental strength and the lighter American
primary movement. The market was dull and
narrow. Corn was steady at the opening, with
values 1sd higher. Trading continued dull with
the undertone firm. The strength in America
and the frmness of La Plata cargoes prompted
support
Primary receipts, 100000 bu against lob
oOO Clearances wheat and -four, 554 900 bu
Near the close the market turned strong again
and December sold up to 74h@74Ac, while
May sold to 7sA @7Sssc. Woodworth appeared
as seller and handed out about 800, 900 bu in,
quick action The market fell back under the,
check and. as other sellers tailed on, December
went to 1910. The end of the session selling
OF this good-sized lot prevented a materially
higher close to judge by the way the shorts
ana bulls were bidding up the price before
WoodWorth's selling appeared.
The weather map showed 1t partly cloudy in
canada; northwest part cloudy, with rains IN
south Dakota; west cloudy, rains in Nebraska
and Iowa; southwest partly cloudy, light rains
IN parts of Missouri; central states partly
cloudy rains IN Illinois and Ohio valley; temper
atures seasonable.
The forecast: North and South Dakota, Min
nesota and Montana fair; Nebraska, partly
cloudy; Kansas, showers tonight fair Friday.
Missouri, showers tonight and Friday; wiscon
sin, showers this afternoon, fair north: Illinois
showers tonight, fair north and showers south
friday; Indiana, showers tonight cloudy oDd
showers south tomorrow; lower Michigan. nartIv
cloudy tonight and Friday, showers tonight in