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

hi Minneapolis Chamber of Commerce, March II.
It Wheat. climbed up again today and closed
!. estrong at fair advance, May at 771sc The
ynend of the week found many shorts undecided
TIL about going over Sunday with open trades.
an They hesitated at first but bought in as the
market closed. and sent prices up. The bears
iii avail and there apparently no attempt
!, imade to check the advance. Mondays figures
rhiwill have effect, and If worlds shipments run
j under the prediction of $780, 900 bu it will give
= hrmness. There Is a strike in Argentine
# land the dock laborers are idle. Whether this
mi serious is uncertain. but it had some effect
40 ably be known. There is good cash demand
~ and today the figure for No. northern was
ge easily Ac May and 1sc over paid for
e the choicest lots This indicates better bust
ness in -four and is confrmatory of the reports
RIO! Improvement Of the last few days Ship
=, snents however, are moderate and altho there
sasfs the probability that some mills now idle
oHw3u reopen on Monday, this was not certain to
outhe time the market closed. Stocks here are
% fnov IL 642 900 bu not counting the increase OF
q 100000 bu for one day, since the report show
,dping a weeks increase of 572,7oo bu was made
reup. OF this quantity 100000 bu Is contract
oowheat. This is 6, e76 $50 bu more contract stuff
tthan in store here year ago. There Is
allittle likelihood that there will be any difficulty
on in getting the wheat to deliver to holders OF
May contracts The question rather is whether
Tor not these holders will want t. take over and
pay for the wheat. ..-.-
IS primary receipts were $1,000 bu, against
Ssse 600 year ago clearsnces 10000 Boo nu' In
lotagainst 243i and other comparisons were 81 and
loo12 for Duluth, 9 and 81 for Chicago, "a and At
sna ~ fT st. ssd
ilH b. v. Jones analyses the market follows
FtThere are about six weeks Intervening before
= 5defvery Of May wheat. This would seem to
v sbez the keynote Of the wheat market in the
nrrnext six weeks, barring an export demand from
IN Europe. There is 4nqusstonably large long
izgline, Of wheat, much Of which was bought at
,era price 10 cents higher that has not been
IA liquidated. II the export demand cannot be
th.improved within two weeks the holders of long
aiwheat win begin to show nervousness with the
s+ prospect of having to take delivery a month
aa,iater. This holding is therefore menace to
= 1.-THE price. An improvement In the -four de-
~ nand would help to equaline the matter, as 1t
swould develop a demand for cash wheat but
otseyen on this basis there Is estimated large
~ total that must be exported, and the item is
~ EtiN larger when Canadian wheat is included.
II the bulls hope to advance the wheat market
tn developed With the surplus in the country,
~ the price Of wheat must decline until steady
ydemand is reached"
Che Broomhall Cabled-Wheat quiet, I'd lower at
thtepening, Influenced by late easiness in America
heavy Australian shipments and the
'salfact that shorts were less active. Prices con-
tfltinued unchanged but the undertone developed
tfsome steadiness on prediction OF moderate
e shipments for the week. Corn quiet, unchanged,
m 1.-THE market neglected.
loo The weather map shows rising temperatures
orewith snow in Canadian northwest and light
Ii asnows in southwest and Ohio valley. ''...
w The forecast: Illinois, fair north, rain OF
@snow south; warmer. y Indiana, Wisconsin,
sMichigan, fair, warmer; cloudy tonight, rain
i Tor snow Sunday west; warmer. Minnesota, fair
r Except furries lake; warmer. Iowa
| a ~ North Dakota. fair; warmer. South Dakota
L flair tonight, cloudy Sunday warmer. Ne
e EEbraska, Kansas rain or snow tonight and Sun
/ ny day; warmer.