The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-04
Foreign Prices Come Higher and
Have Effect Liverpool
1a@5sd Up.
Some Little misunderstanding Of
the Closing Prices in
Liverpool.
Local Stocks Gain 100000 Blu
Good Weather in the
Forecast.

81 Minneapolis Chamber of Commerce, April A.
Strong foreign markets put strength into Min
neapolis wheat to start the market going, but
II there was selling enough to keep the
price tagging little, altho the tendency was
upward Liverpool hd higher on hrst
cables, sd up later and y @Sd higher to close.
Then the latter figure was erased from the quo
tation board and 1a@9sd marked up. This
change was more important than might ordi'
narily be supposed, for whether or not we arc
on, close to, an export basis has been
speculative consideration for some little time
There are traders who will buy futures any time
they think wheat export basis and goo-
stiff advance in Liverpool just at this time
might easily turn the market. Hence the bulls
were delighted when they saw A@1sd higher go
up and disappointed when 1t gave way TO
.5s@Bd This is the old matter of Minneapolis
dependence upon Chicago. Cables come thru
New York and there is no reason why inc!
should not strike Minneapolis direct from the
east instead of coming thru Chicago also Chi.
cago had session yesterday because OF the
election, and found Liverpool y @3sd higher
than on Monday but Minneapolis doing
business and took into full account the adj
/ vance of Ad in Liverpool yesterday Hence
for Minneapolis, Liverpool was up only A@hsd.
Greater uniformity in these reports would be
very desirable. Other foreign markets were up;
Berlin 1850 and Budapest &c, but whether
these advances were for the day. or the Chicago
figures since Monday, uncertain. Broom
hall attributed the Liverpool strength to smaller
offerings off coast and private advices reducing
the estimate of the Argentine exportable surplus.
.S Minneapolis elevator stocks continue increas-
Ing and have gained 175.00O Blu for four days.
Minneapolis received 243 cars. against 1874;
Duluth g. against s, and Chicago 6, against &C.
Winnipeg got POT cars, against 104. Kansas City
received 1000 bu for two days. compared with
4 $4,000 year ago, and st. Louis, "a, 900 against
So, 900.
In Chicago, James Petit of the Peavey COM
spany bought considerable wheat which helped the
market. F. D. Coburn, secretary Of the Kan
sas state board Of agriculture, issued report
iii conditions highly favor
able. No county In Kansas Mr.. Coburn says,
has a condition lower than 30, and Harper
county stands phenomenally high, or no. With
the Coburn report and rain In Kansas and more
predicted for tonight, that state would, indeed.
appear to be favored. W. H. McW11liams of
Winnipeg and James Carruthers, the Montreal
exporter were on the floor.
Bradstreet's report made the decrease in the
worlds visible 2,144, 900 bu. compared with de-
crease Of 1890 year ago. The quantity
east of the Rockies decreased by 2144 900 bu
and that afloat for Europe and in Europe de-
creased 900, 900 bu.
Watson sold 100000 bu Minneapolis May near
the close, and Woodwork sold 100, 900 bu also.
The Woodwork business was supposed to repre-
sent elevator wheat coming on the market.
trading in enough to offset one with the other.
nsraed was buyer of of May oats 600
bu last year. Clearances. $4,000 bu.
The following is the forecast: Kansas. rains
cloudy and cooler with showers southeast half
Thursday fair and warmer; Illinois and Indiana
partly cloudy ana cooler. showers south portion
Thursday fair; North and South Dakota ant
q Montana, fair and warmer: Minnesota. fair
Fl warmer Thursday and west tonight: Wisconsin
Fl fair cooler east and south tonight, warmer
& Thursday; Nebraska, fair warmer Thursday an'
4 In west tonight.
Cash demand was good. No. northern sol,
n at 1c May and No. . northern at &c under
a. Duluth wired McKinnon: 'Stocks, for tw
II days, increase: Wheat 10000 bu; fax 124, 00
iA bu. While have been export basis VI
to today. in view Of the possible lake strikes II
Is the spring it will be foolish for people t.
IL sell themselves into pocket, consequently n
Ii export has been worked to speak Of. Manitob
II must be in a position to do any export bushes
IL she wants to at her price, about cent unde