The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-16
Wheat Sells Down on Larger Re
ceipts and Lower Cables
from Liverpool. t5s
Yet the Bears Find it Hard to
Hold an Advantage Once
Gained.
Flour Shipments Light, but Some
Foreign Business Pending
Today.

Minneapolis Chamber of Commerce, Oct. 16-
Wheat moved backward again after the opening
today December going to 73Ac and May to
I71ac The cables followed our sag of yester-
day and Liverpool was $50 lower. Selling be-
gan and the market Went down by easy stages.
There was no evidence Of liquidation. nothing
that looked like the selling of any considerable
line, but q good many little lots were sold out.
Despite the light movement into Minneapolis.
the elevator stocks are creeping up little, and
for three days have Increased by 26o,Oo Blu.
That flour business has not Increased any Is
shown by the lighter shipments posted today,
only 4692S barrels. This did not look good
to the bulls, who would like to see a better
-four demand and larger production. AS to the
movement 1t still under last year, yet COM
parattyely the best for some time, being only
Al cars short. Minneapolis made another bad
comparison with only 25e cars against 424, but
Duluth saved the day by running 127' cars over,
with 642 against 515. Chicago came up with
ia against 80, that for the three markets
there was at last wheat than year ago
byl14 cars. This too small q difference to
mean much or have any influence in itself, but
the bears used it for effect, pointing ou: that
the increase In the movement has Mt last begun
and that big receipts may now be expected. In
the more important winter wheat markets there
was about a stand-on with year ago, St.
Louis getting 10o,0O0 bu against 104,0OO and
Kansas City 372, 900 against SIT ,OoO but Winni-
peg fell off materially, only $50 turning
up against $40. With reference to this there
is much dissatisfaction and complaint and some
bitterness in the comment. Western Canada IL
hard pressed to care for its wheat as fast as it
comes of the farms. Probably the most ex-
treme view Of the situation, view that lays
the blame upon the railroads and elevators, is
that Of the Winnipeg correspondent Of the Mon
treal Star While the statements neither
be affirmed nor controverted from this distance,
they seem overdrawn. The correspondence Is
interesting, however, as showing how some In
western Canada feel about it. 1t says that 1t
Is daily becoming and more evident that
combina ton exists between the elevator inter-
ests In the Canadian west and the railway COM
panies. 1t Is practically impossible for far
mers to get cars sufficient to handle the country
deliveries Of wheat altho at many stations
empty cars have been standing on sidings for
over week. BY reason Of their freezing out
from loading at the platform. farmers are bcing
compelled to make deliveries to the elevators,
and in the present conssstsd state Of affairs
being forced to take from &c to Zoe q
bushel less than they would have to do could
they load straight into the car. 1t is claimed
the railways have guaranteed the elevator inter-
ests to move half the crop to the lake front
before the close Of navigation. In view Of the
present congested state Of traffic. independent
Of the grain freight 1t suits the railways to
make such a guarantee. 1t Ia claimed the ordi-
nary traffic Of the roads Is so per cent in excess
OF that OF year ago.
The Northwestern Miller . had an Argentine
cable reading as follows: Wheat sown
officially declared at 5,000,0 hectares. Trade
circles are of the opinion that locusts will not
do much damage owing to the advanced growth
of the crops. Crops are thriving well; the GUS
tomary drawbacks do not. seem to be more than
usual. Prospects are bright, the climatic con
ditions being normal A hsctare Is abou,
two and q half acres, so that the acreage would
be about Is, 900, 900.
Commenting on the northwest situation thu
Minneapolis Market Record says the government
crop report makes a condition in the three
states so bulltsh that one hardly likes to SEE
1t In cold type 1t says the amount Of durun
is problematical, but best people estimate it a
$4,000, 900 to &c, oOo, 900 bu. W
An Antwerp letter Of Oct says: "Ofer
from the River Plate and the eastern countries
are more than sufficient to supply our wants
h and there is no chance as yet to come to bust
ness in North American mixed corn"
Broomhall gives foreign crop conditions a
follows: United Kingdom-The weather ha
improved seeding making fair progress. Franc
Further rains have fallen which have bee,
beneficial for seeding; holders are firm. Ger
tory conditions; demand for foreign grains
good. Misunderstanding Is progressing unde
favorable conditions; the corn crop is good bu
y Is reported to have received some damag
from un favorable weather. Rumania-Moderat
complaints are heard regarding the quality O
the corn; rains have caused some delay in seed
ing. Bulgaria-Crop outlook favorable. Russi
Seeding has been generally carried out unde
favorable conditions; supplies in the southwes
liberal, IN the Azoff small. partly owing
heavy rains; holders there very firm Italy
North Africa-Crop outlook good.
Primary receipts were ], 269 900 bu aeains
1900, 900 last year. Clearances, 25s 900 bu wheu
and flour, including 5000 brls flour.
Bradstreet's figures for the change in tt
worlds visible supply for the week showed a
the increase was 1882, 900 bu, and in Euror
and afoat 100000 blu. ~
The weather forecast: Minnesota. Iowa, Mi
souri, and 1llinois-Partly cloudy tonight an
MNsahes s CONTINUED moderate temperature
Generally fair tonight and Wednesday; warm,
tonight: Indiana Lower and Upper Mchiga
and W1scons1n-Generally fair; moderate tempe
atures. Montana-showers tonight and wedne