The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-17
Shorts Took In Their Lines Over
Sunday and Prices
Advanced.
|Millers Uncertain About Opening
the Idle Mills, but May
on Monday.
A Strike On in Argentine Which
Might Be an Important
Influence.

Minneapolis Chamber of Commerce, March II.
Wheat climbed up again today and closed
astrong at fair advance, May at 771ac. The
lend of the week found many shorts undecided
about going over Sunday with open trades
/ They hesitated at first but bought in as the
market closed. and sent prices up. The bears
found that their old arguments were Of no
I avail and there was apparently attempt
/ made to check the advance Mondays figures
Twill have effect, and if worlds shipments run
under the prediction Of 9,600,O00 Blu it will give
Il hrmness. There is strike on In Argentine
I and the dock laborers are idle. Whether this
1 is serious is uncertain. but 1t had effect
today. BY Monday the extent Of it will prob
ABLY be known. There is a good cash demand
Sand today the figure for No. 1 northern was
eeasily Nc over May and 1sc over was paid for
1.-THE choicest lots. This indica ties better bust
ness in -four and is conhrmatory Of the reports
fof improvement Of the last few days. Ship
Fments, however, moderate and altho there
is the probability that some mills now idle
will reopen on Monday, this was not certain to
snow 1872, 600 bu, not counting the increase of
100000 Blu for day, since the report show
Ting weeks increase Of 572, 100 bu was made
wheat. This is 6, 676 $50 bu more contract stuff
than was in store here a year ago. There is
little likelihood that there will be any difficulty
May contracts. The question rather is whether
or not these holders will want to take over and
pay for the wheat .e---
i Primary receipts were $1,000 bu, against
$4,000 year ago. Clearances 100000 bu, in
wheat. and -four. Minneapolis had 200 cars in,
against 24s. and other comparisons were 81 and
10 Tor Duluth, Q and 81 for Chicago, "a and At
81 sna snd aT st. s1d
Il p. v. Jones analyses the market follows
There are about six weeks intervening before
delivery Of May wheat. This would seem to
be The Keynote Of the wheat market in the
next six weeks, barring export demand from
Europe. There is unqusshonably large long
line OF wheat much, Of which was bought at
a price 10 cents higher that has not. been
fiiquidated. II the export demand cannot be
improved within two weeks the holders of long
wheat win begin to show nervousness with the
prospect Of having to take delivery month
later. This holding is therefore a menace to
the price. An improvement in the -four de-
',nand would help to equaliHe the matter, as it
would develop a demand for cash wheat, but
even on this basis there is estimated a large
total that must be exported, and the item Is
still larger when Canadian wheat is included.
III the bulls hope to advance the wheat market
in an important sense flour demand must be
developed. With the surplus in the country,
1.-THE price Of wheat must decline until steady
demand is reached
issBroomhan Cabled-Wheat quiet, "a lower at
t{opening, influenced by late easiness In America
: yesterday, heavy Australian shipments and the
E#fact that shorts were less active. Prices con-
IItinued unchanged but the undertone developed
!some steadiness on :, prediction Of. moderate
shipments for the week. Corn quiet, uncnanged'
1.-THE market neglected.
rs The weather map shows rising temperatures
with snow in Canadian northwest and light
tsnows in southwest and Ohio valley:
{ The forecast: Illinois, fair north, rain o,
Esnow south; warmer. y Indiana, Wisconsin
Michigan, fair, warmer; cloudy tonight, rair
lor snow Sunday vest warmer. Minnesota, fair
Except aurries near lake; warmer. Iowa
fair east, snow rain west Sunday; warmer
North Dakota fair; warmer. South Dakota
flair tonight, cloudy Sunday; warmer Ne
Ebraska, Kansas, rain tonight and Sun
Iday; warmer.