The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-29
September Option Closed with the
Tender Of 100000 Blu.
on Contract.
Price Depends Upon the Move
ment Into Minneapolis
Next Week.
There Were Over 5000 Cars a
a Year Ago-Cash Wheat
..... Very Weak.

Minneapolis Chamber Of Commerce. Sept. Co.
The last day Of the September option passed
with no excitement and September and December
closed at the same figure. Bagley delivered
about $50, 600 blu wheat and Peavey delivered
also, about 100000 appearing in all. The Con-
solidated Milling company was thought to have
the most wheat due on September delivery, but
1t found at the close of the market that
country millers took most Of 1t. As there Is
only little contract stuff here the ordering out
Of this wheat by the country mills would draw
down stocks to practically nothing. 1t may be
doubted however, If they can get the cars to
take it out Immediately. The local cash mar
ket was weak and an offset to the suggestion
Of bullishness In the deliveries to country mills
No. / northern spot here sold early, for q
few choice cars, at $40 over December, but
later on the millers pulled out, the premium fell
to 25ac over and at that there was much wheat
unsold. ..:
Best efforts Of tho bears failed to hold the
market under TAO for December. The figure Il
marked the line Of contest, and after the early
trading was over and tho alternate effect Of
buying and selling had been felt, the market
remained steady ever. r. P. Robin. the
Manitoba premier and minister Of agriculture,
o. tho , aS0S M aeD tss
west crop will run to oo,OOo,0Oo bu wheat As
estimates early in the season were 120, 0o0, 900
the believers IN higher prices found encourage
nent in this but believers In price recession also
figured 1t to their advantage, since the movement
above the line has been very light and continues
Light, Winnipeg getting only $50 cars today
against 497 year ago, and II there is 100, 00o-
900 blu wheat to come then the receipts, it is
argued, ought to run very heavy once the move
ment really begins. The situation Is just the
same on this side. The wheat does not come
and only 1884 turned up here against 7es
ance OF higher prices and indeed It is hard to
how wheat can fail to advance soon II the pres
ent situation holds for it Is almost Oct. l. It is
time tor big movement to start, the Mime
apolis dour mills are shipping out -four at the
rate Of $4,000 to 10000 brls day, not enough
; wheat is coming In to meet grinding require
ments, elevator stocks are still being drawn
upon, ,254 bu were taken out during the
week and &c, 900 bu for one day since making ny
the weekly report, and the elevators of Mime
apolis now contain only about ], 1874 900 blu all
The price hinges upon change in the situa-
ton # another week Is to pass without larger
receipts higher prices would seem almost GER
tain. II the new week opens with the movement
ON at last, then recession seems almost equally
certain, altho here again opinion splits, the
bears looking for heavier movement to break
the market badly, the bulls cortending that 1t
will not go down more than q cent or two in
any case. The bears have the reports Of the
In to help them and the further reports
Of the sending out OF 10 new locomotives by the
500 road, and of 20 by the Great Northern, to
bring in the stuff. Some days would necessarily
elapse, however, before much relief could come
from these measures. AS to Monday the chance
Of showing equal to last year in Minneapolis
seems remote, for there were 1,025 cars In here
Monday last year. 1t is probable that Duluth
will beat the last year figures, for there were
then but 375 cars at the head Of the lakAs
1,4O0 in the two markets. Monday may
therefore,, show up fair comparison with
year ago, and the bears may gain some advan
tage, but for the week to come the last year
figures are large and the railroads have got tt
haul in some big grain trains to equal them
Monday year ago showed Minneapolis ant
Duluth with 1,400 cars Tuesday 1913 Wednes
day S9S, Thursday 949 Friday 1856 and Saturday
713, total Of 6,123. While no one can posi-
lively say that the roads will not bring as
much into the two markets in the coming week
the chances would appear to be all against thei
doing it, and another week Of bullish compari
sons seems certain: Whether the bears car
still prevent advance In prices under the
circumstances may be doubted.
Clearances 249OOo bu.
Primary receipts for the day, 1,o79 900 bu
against 1880, 900 bu.
Liverpool closed unchanged.
The weather forecast: Illinois-Fair in south
fair; cooler In east portion. Indiana-Fa1r IL
south, rain In north portion tonight; cooler
Sunday fair; cooler. Lower Michigan-Fair
cooler; rain in south portion tonight. W1scon
sin-Fa1r tonight, except rain in southeast; cool
or; frost in north and west; Sunday fair. low,
Fair, cooler tonight; probably frost in ives
and north central; Sunday fair. Missouri-Fair
cooler tonight; Sunday fair Minnesota-Fa
cooler tonight with frost; Sunday fair; warme
in west. Kansas-Eair, cooler; frost Nebraska
Fair, cooler; frost east; Sunday fair; warme
west North and South Dakota-Fair warmer
Brpomhau foreign crop reports read as follows
France and United K1ngdom-Weather too dr.
for seeding. Rumania-Benefcal rains hav
fallen Acknowledgement rains have fallen an
crop prospects good. Germany-The potato GRO
Is less favorable and it is expected that tn
yield will be fully 10 per cent below that o
1906, which aggregated 4s, 3oO, 900 tons.