The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-23
Liverpool Held Up Much Better
Than the Short Sellers
Had Expected.
News in General Today Rather
Favorable to Maintenance !
of Price.
Fowler Estimates Canadian West
Wheat Crop This Year at
86,304,000 Blu. .....

Minneapolis Chamber or commerce., oct. S-
Frnness in Liverpool against the decline here
yesterday and prediction for rain and snow
northwest tonight and Wednesday made the
wheat market stubborn against further bear pres
sure and sent December up to, 73c early In the
session. A quiet waiting market followed. ln
Chicago Valentine bought 25o,OOO Blu December
wheat ut 72ac and this helped 1t. Locally
there creeping-up tendency and the shorts,
finding 1t working against them, covered up, The
one thing against the market was the light
trade and while it apparent that moderate
buying would send the market up 1t was by no
means that 1t would stand against any big
sales. AS there was no heavy selling, however.
the price moved up gradually. That Liverpool
should have declined only IA and should have
reganed this by the close was disappointing
to the bears. 1t showed much more stability
abroad than they had counted In explana-
ton Broomhall wired that while wheat was
quiet at the opening with values lower, being
Influenced by the late decline In America yester-
day and cheaper Manitoba offerings. the decline
brought in some supporting orders thu the large
houses and reaction occurred. Toward noon
there further disposition to realize and
the advance lost, the principal factor being
the slow demand for spot. Corn steady
at the opening with values sd lower, followed
by further decline of Is a Ad. There
POOR consumptivc demand and the easier Areen-
tine offerings prompted the selling.
Bradstreet's report Of the worlds visible
showed an increase of 1000, 600 bu. AS the in
crease last year was 0O2 900 bu the bulls took
courage from 1t.
The movement of grain to market tho much
heavier than yesterday was still light COM
pared with last year, the northwest showing "a
less, Minneapolis 257 against $50,
and Duluth $50 against 575. Chicago had 80
cars against 145. Kansas City 10000 bu
against $1,000, and st. Louis 100000 against
$4,000 Winnipeg received 760 cars against 743.
The storm Of yesterday. tho heavy in the
west and southwest, was not so bad northwest
to be important, and the early reports showed
fair conditions for the movement, but the pros
pect for the immediate future is less favorable
The forecast r'ads follows: Illinois. Indiana
and lower Michigan, showers tonight and
Wednesday. Missouri. threatening, with showers
tonight and in east portion Wednesday; colder
Upper Michigan and Minnesota rain or snow
tonight and Wednesday. Wisconsin. rain to-
night and Wednesday; increasing northeast
winds Iowa. rain tonight and probably Wednes-
day; colder in northwest portion tonight. North
Dakota and Montana fair tonight and Wednes-
day, slowly Using temperature. South Dakota.
tonight. Wednesday partly cloudy and
slightly warmer. Nebraska. rain to-
night; Wednesday partly cloudy; warmer. Kan
fair tonight and Wednesday, preceded by
rain tonight warmer Wednesday. ?. =. 4
Local elevator stocks have increased only s, 900
bu for three days. P,
OF the foreign crop situation the Broomhall
summary says United Kingdom-Suffcient
rains have fallen Supplies of native wheat are
moderate. demonstrating is being done under
favorable conditions: supplies are light and
holders continue firm. Germany-Seeding has
made good progress y Hamburg house states
that reports are that it is now apparent that
the yield of the last harvest IS generally unsatis
factory, excepting oats. Prussia-The royal sta
tistical bureau estimates crop conditions in tht
monarchy Oct. u follows: Wheat anC
rye each 60 per cent against 81 per cent fol
wheat and rs per cent for rye on the 18th OF
August this year. IIungary-Seeding is about
finished under favorable conditions. Austria
Sowing Of wheat is late. # Italy and North AZ
rica-There moderate complaints heard re
garding drought. Rumania-Supplies smaller
but are expected to soon show an increase again
The harvesting of corn is finished. Russia-EI
parts of the southwest and Caucasus some com
plants of drought heard. In the AZof eX
cessive rains have fallen. but elsewhere weathe
conditions are favorable. The crop movemen
IS unchanged. The minister Of agriculture con
firms rye, oats and spring wheat crops below
the average winter wheat, barley and corr
above the average. A full average crop of pc
tatoes is expected.
Bradstreets wheat east Of Rockies shown t
have increased 1.319O0O bu; Canada increase
81 900 bu: United States and Canada total ir
Increase 1,SOO. 900 bu Total American and Ell
ropean increase $780, 600 hu Corn decreased 995
600 bu; oats increased $4,000 bu.
BrComhall had letter from of their OK
lahomu travelling agents stating that canvas
of the state shows that farmers have 60 pc
cent Of this years wheat crop on hand and man
farmers are holding fo- the dollar mark
Clearances wheat and flour, $4,000 bu. Pr
mary receipts. 1,229,O0O blu against 1,349 900.
Piper had a Winnipeg wire giving the est
mate of Frank o. Fowler. secretary of tt
Northwest Grain Dealers association, as follow
ESTIMATED crop yield for Manitoba, Saskatc
evan and Alberta, made Oct. Is as follow
Wheat, S6.3O4 900 bu: oats Is, 35s, 900 bu; ba
ley. 1882, 800 bu; fax. o2s.95s bu. Whe
marketed: Inspected, 14,9o5 900 bu; in trans
not Inspected. 1,725. 900 bu; in store at count
points, 16,65o,oOO bu; shipped out by Gre
Northern railway, 100000 bu; total, Sc, $50, o
BIZ. Marketed to date last year, 81, 90
900 bu. Total storage capacity Of country ell
waters, 36,117,OoO bu.'