The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-02
wheat Starts with All Things
Favorable to Strength and
Touches 76c.
Failing Later to 75c on Free Sell
ing-Millers Bought Some
Winter Wheat.
No Break Yet in the Extraordi-
nary Northwest Supply
Situation.

II Minneapolis Chamber Of Commerce, Nov. q
liverpool was up $@1ad on wheat today, ana
day, coupled with rainy weather and con-
Etinued bullish supply situation on our side'
sent December wheat to 7ec Here 1t was
Shocked by free selling, but the market was
strong and would yield only small fractions
i,n the side Of decline, and tho the bulls tried
FOR over an hour to move 1t above 76c, and
were unsuccessful. there was such steadiness
and evidence Of confidence as to make higher
prices later in the day seem more than prooa-
BILE. Tho shipments from Argentine for the
week, at $685. 900 bu, compared with 1.be2'oOo
ou in the previous week and 1,4ea, 900 blu year
ago, were bullish, much larger figures had
In that country, in which there will be in
lcreasing interest from now on. the New YORK
Produce Exchange cable said that climatic
Conditions have been favorable and the crops
are looking healthy and strong. Broomhall,
however, said his advices showed the effects Of
lehe absence of rain in northern Santa Fe. and
Iehat the crops in that province are now seen
lso be unsatisfactory. The effect Of this was
Lost, for the Northwestern Miller had cable
from its representative at Buenos Aires, who
said: 1--WE are having favorable weather for
l:rops; present prospects very encouraging
II Minneapolis remained the center Of strength.
The closing of some Of the -four mills will
have effect to cause lighter shipments, but
oothing Of this appeared today. the posting
representing the output Of heavier operation
han that now going-showing $3.50 brls,
.,ery light days total for this season, yet
more than might have been expected from the
recent reports of poor business While it Is
\ matter of inability to get -four out, and
70 Is cited as bearish argument 1t Is even
more q matter Of inability to get wheat in. 1t
vas reported that the Minneapolis mills had
bought coo, 900 bu Of winter wheat in the south
vest to come here. Again the bears could
something for them in this, for it will mean
larger postings Of receipts when 1t begins to
;ome, and 1t also replaces 50 much spring
fs ehonS} VII
&f 1t. When the month Of November comes
n, the time arrives when the movement ought
80 be heaviest, not enough wheat turns up
ssera to make healthy business No. / north
I'm sells at 4c the option, no immediat to
Improvement appears In sight, and i'm
Ieortaut receiving house reports less business
in it's books in transit than July last,
I5t is scarcely timely to argue for bearish-
LESS. The situation is distinctly bullish. The
bears have in their minds great considera-
lion. 1t Is the inevitable, incontrovertibe fact
that everything finally that has a beginning
has to have an end. An unna tural, abnormal
!8upply situation has existed in the northwest
Tor weeks. It makes no difference about the
5ize Of the crop in this connection. The situa
ion is unnatural. Whether there was large
lirop or small crop, much more wheat ought
10 be coming in. The longer the present situa
Ion lasts the more are the bears convinced
hat some day it must change.
Receipts here were only 222 cars against 450;
n Duluth 2so against 291; in Chicag SO against
li16. Winnipeg got only 345 cars. against 425.
II In Minneapolis lit cars were loaded out of
iglevators, and local stocks promise to decrease
100000 bu for the week.
The weather forecast: Illinois and Indiana
air tonight and probably Saturday; warmer
10 south and central. Missouri, fair tonight
ind Saturday, warmer. Lower Michigan, fair
md warmer. Wisconsin, generally fair and
FARMER. Minnesota, generally fair tonight and
saturday; cooler tonight. Iowa. partly cloudy
j3ontght and Saturday. with probabl ~ rain west;
FARMER In east and cooler In northwest North
lpakota fair and cooler. South Dakota rain
liz snow; colder. Nebraska, probably rain to-
light and Saturday, except snow in west; cold
III. Kansas, partly cloudy, with showers
4 Primary receipts 992,O 600 blu against 953 900
Il week ago and 100000 n year ago. Clear.
noes wheat and -four $4,000 bu, including
5000 brls -four.
/ st. Louis received $4,000 bu against 81, 900.
nd Kansas City $4,000 against 1872 900.
III w. B. Parsons of Winona was quoted in Chi
! ago. Mr.. Parsons said Minnesota and northern
owa have about Is per cent Of q CROP to Judge
~ receipts to date. OF this, go per cent is
urum wheat.
+ The Modern Miller says: Delay in the seed
ag Of wheat because Of too much rain is re-
orted from various localities and in q few
tates the acreage will probably be smaller than
] ast year. The agricultural commissioner for
tennessee reports seeding delayed a month, and
hat only 81 per cent Of the acreage in that
tate has SO far been sown. The Kentucky
commissioner estimates that the acreage in that
tate, when seeding is completed, will be IS
Ter cent Of whatf it was last year.
Near the close ]. A. Patten wired Lewis that
us firm bought a cargo of Duluth No. hard
I ? come to Chicago today at &c over our Deem
! er Chicago
Free selling near the close sent the market
own but it was checked at 75c and rallied frac-
lonally, closing firm for the day and with
ne bulls still in control.