The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-22
Wheat Meets with Selling and,
Goes Sliding Down the
Price Scale.
December Off 1850 to Low Point,
While May at Low Point
Was Off 1870.
local Conditions as Bullish as
Ever, but Holders Let
Wheat Go.

Minneapolis Chamber of Commerce. Nov. 22.-
Neither bulls nor bears could do much in the
eaily part of today's session, and, around 7S1ac
for December and sO1ac for May prices held
firm and the market quiet The failure of
Liverpool 10 show any enthusiasm was a weak.
ening influence, but 1t had little effect against
northwest supply conditions bullish as ever.
Sixty thousand bushels is the decrease shown so
far In the week. and there was the same sort
OF a run as yesterday. Tho differences were
not so pronounced, there was less wheat here
and at Duluth, 272 cars against $50 here and
252 against $40 at Duluth. Chicago had %
against II and Winnipeg only 100 against AIS.
In Kansas City receipts were 81 600 bu against
n 900, but st. Louis had only 2S'o0o against
62.0OO.2 =. '.s~' :-..s,.s' l. s : \. &5~J
AS to the immediate future it now seems as
tho any relief in the way of larger receipts
must be looked for at the head of the lakes If
they to come at all. Pressure has been
brought upon the roads to bring max, durum
wheat and spring wheat into Duluth that sellers
there for November delivery may NAL good.
Liverpool closed unchanged. - =. = - 81,
Eroomhau cnbed: Wheat quiet at tic
opening with values sd lower. partially re-
hecting the weaker American cables yesterday.
There was also further liquidation In Decem-
Der. Toward midday the undertone developed
some steadiness owing to the hrmer La Plata lat,
offerings. Trading. however, was extremely dull
with the market narrow. Corn; was quiet Mt the
opening with values unchanged. The market
was neglected. =, .. '. = ~
The Northwestern Miller says: 1.-THE Mime
apols flour output last week increased 81. 11o
brls. The quantity turned out tweek OF Nov.
III was 2Sl,365 brls, or 1885, 2O less than a
year ago: For the same week in 1905 1t was
437 0s5 brls and in 1904 313, $50. The -four
output this week promises to approximate 325,
coo brls: For the corresponding week IN 1903
it was 400, 4SJ. There was nothing particularly
different with the flour trade of Minneapolis
mills for the week. Witt. the reduced output
possibly flour was sold than was made.
The advance in wheat no doubt brought III some
orders, but buyers wanted hour at old prices.
Wherever on advance was asked 1t made the
buyer Indifferent The eastern -four trade con.
rinues to hold bearish views, and is reluctant
to take -four except actually required, Buy
ers seem TO base their, ideas OF -four values
on December wheat i'll Chicago. which is B.:
lower than is spot No. northern In Mime
apolis. Little is heard about export business.
Despite the fact OF the material advance IN
wheat, importers are bidding no higher
prices than formerly. Even clears are going
slowly ! =. T.. j. -
OF the grain movement the Miller says :'In.
stead Of wheat receipts at Minneapolis increas-
ing last week they decreased nearly 400, 600 bu.
At /, S53. 900 bu they were SIT 900 bu smaller
than in 1905 OF course Duluth has continued
to get the lions share of receipts there ap-
parently being a shipping demand, from the
east via the lakes that has kept prices in that
market relatively above Minneapolis. However,
Inacaronit wheat has constituted big item in
the. Duluth receipts. There seems to be nc
change in the situation as to the railroads NOV
Ing wheat to Minneapolis end Duluth any faster
than they have been doing. The talk Is heard
that as soon as cold weather comes there will
be marked Improvement in receipts. but many
elevator men are skeptical about this"
The weather forecast: North and South, ,Da
kotu, snow tonight and Friday, colder; Minne
sota snow tonight and Friday, not much change
in temperature; Nebraska and Kansas, rain or
snow tonight and Friday colder Friday; Iowa,
rain and snow with increasing cloudiness Friday
and in west warmer tonight; Missouri, rain or
snow Friday and possibly late tonight, warmer
tonight; Illinois and Indiana, fair tonight, rain
snow Friday afternoon; lower Michigan, snow
in west tonight cloudy; Wisconsin, fair and
The Record Herald says: Nebraska grain
men have been buying wheat futures in Chi
cago rather persistently during the last two
days They are talking very bullish, as they
are more in touch with the northwestern millers,
who have been buying hard wheat Of then,
steadily for time past, than they are with
the bearish situation in Chicago. Minnesota
millers were buying cash wheat and December
wheat at Omaha and Kansas City yesterday.
An Omaha grain wired: Minneapolis Is
offering higher premium for wheat here today
than 1t has at any time the crop"
sWhallon was a seller Of wheat and Commons
sold some. Woodwork a buyer near the
close.
At pm. selling started and the market broke
quickly with December and May sharply dover.
Primary receipts: were T64 900 "bu against
1O04,O r@.:tI , 1. x u
Clearanc.es I'LL 900 BIZ ~ 4 r.
The Price Current says: ''DroughtX; cond itions
in Ohio, Indiana Illinois and Missouri much
relieved by rain and snow. Growing wheat
doing we'll. Cornhusking out about as ex-
Fected, new corn too soft in most sections fol
early movement