The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-02-14
Prices Advance Early, but Later
in the Session Come Back
ssg Down Again.
Local Elevator Stocks Now About
Stationary Receipts Run
Larger.
A. Scarcity of Important News
Foreign Tone Somewhat
l;IaT Easier.

minneapolis Chamber Of Commerce, Feb. Ia
Strength ruled the wheat pit thru the morning
and fair advance was made, traders buying
on cold weather and talk OF concentrated ho!u-
ipSs In Chicago. The early market for the
cash stnr WAS firm at 4c under May ror no.
] northern, but, as the option rose from eo9s
QSS1ac to S35sc, the cash wheat Jagged little
and the difference widened fraC ttOnaIly. M1llers
are disinclined to pay the May price for No. |
northern while other interests have been working
continuously to bring the cash article on the
same level with futures, and have been within
n shade Of it. Nest cash men believe that on
any setback to the market the two will sell to-
sether, and slight premium for No. northern
may even be quoted, but it Is more difficult to
effect this when strength Is on. for buyers are
stubborn. More wheat turned up today, zoo
cars coming against 1856, and there was some
little excess over milling requirements yester-
day local elevator stocks failed to decrease
again. but held steady at 10000 bu decrease for
four days, the same as shown Tor three DAYS.
The -four mills are doing a fair business, how
ever as recent daily shipments of an average OF
over $4,000 brls prove. This Is really light bust
ness compared with what was done here rev
months ago, but 1t Is business of good size,
nevertheless. If the mills did 1t the year
round good annual showing would be made,
but the wheat traders argue the -four trade poor
when more wheat appears than the milling re-
QTlirements Of the day will onset nor can this
be ignored as speculative considera tion for
as often as local outside milling demand fails
to absorb 1t MI, some end of 1t goes over into
storage. While ago the wheat was coming
in at such a rate that every succeeding day
showed greater total in the elevators and the
market was on decline. Then the thing shifted
about and q little came out of store every day
Many saw in this the end of accumula tion, and
fixed 1t as the time to buy May wheat. This
may have been the right idea. Today, however,
the wheat Is again coming In rather more freely,
and while the elevator stocks have been decreas-
ing they not going down much The local
visible, In fact il about holding its own. 1t
would seem that there ought not to be any fur
yet some inclined to think there viii
be recovery of the recent decrease before the
final downward slide begins, and others, not so
confident Of larger receipts, incline to the be-
lief that enough wheat will come in to keep
Is. 600, 900 bu in Minneapolis elevators for some
weeks yet
Receipts at Duluth were 81 cars against 4, and
compared with 90 H..
'Clearances moderate today, only 10000
bu, wheat and -four.
Kansas City received $4,000 Blu against 81, 900.
ct. Louis $4,000 against $1,000. --
Foreign markets were easy, except Antwerp,
which ss@1Ac higher presumably on
lighter offerings Of Argentine wheat. Berli> was
Nc and Budapest &c lower. Liverpool was
A@ssd lower.
The forecast for tonight is for fair and colder
weather in Missouri and fair and warmer Thurs
day for Kansas.
Bradstreets report Of the worlds visible
showed decrease of 100000 bu compared with
decrease of $4,000 bu a year ago.
Primary receipts 43S0 900 bu against $50. coo.
Feb. says: "Fully 100000 bu wheat al
tidewatcr and in interior warehouses and it IL
extremely difficult to make a correct forecast
to where it will co. .