The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-08
First Definite Assurances of Re-
lief Received by Firms in "a
Minneapolis.
Milling Situation Abnormal Ca
pacity Equal to $4,000 Brls
Is Now Idle.
December Says Off to 1870, Clos
ing Weak Near the Low
Point.

minneapolis Chamber Of Commerce.. Nov. s.
Wheat saGged again in todays early market
The cables were lower and northwest receipts
picked up somewhat. There was selling Of De-
cember at the start. In Chicago $4,000 hu
December came from Bosenbaum. 1t was taken
by Partridge, presumably acting for Armour,
and May was sold against it at the 4Bc differ
ence. The best traders were unable satisfac
torily to size up the situation with reference
to the selling. Yesterday there was evidence
Of December liquidation, and not the least doubt
that around II 4ac some long wheat held tor
big rise that did not come was sold out. This
morning, at 74Ac, the selling was naturally
taken 10 represent more long wheat coming out,
but the market did not act quite as 1t would
ordinarily act in such a case, and the shrewd
est Of the pit observers thought the Chicago
selling not lquidation but rather tue
selling OF wheat short in the effort to force
prices low enough to loosen up more long wheat
IT seemed hardly probable, on the other hand
that the bears would try such tactics as early
In the month this, for Ii any big firms III.
short they have until the last day OF December
to wait before they can be compelled to de-
liver. and il the bear talk still persisted In, as
to the great quantity Of wheat back, and the
certainty OF heavier receipts later on, is any
where near correct, they have only to wait and
they will be all right BY knocking prices h
little just when trade is 0ull. they might
cover their wheat II such were their intent, but
there was little to indicate this the fact OF
it is that there have been definite promises
privately made of better service relief to the
country and larger receipts after next week.
In railroad correspondence, which, however. 1s
private and so may not be quoted, 1t Is stated
that motive power in use in hauling to market
the greatest run of livestock ever moved in a
corresponding time will soon be relieved by tn"
lessenlng OF the cattle movement and will BIZ
sent to parts of the northwest where wheat Is
ready to be hauled in This may not come
The railroads not infallible, have fallen
down promises before this and may fail
again, but 1t is the promise that makes for
the beariSh stubbOrnness. If the roads make
good the bears will have trouble In finding
wheat enough here to fill all contracts. II
they do not make good. the bears may find it a
different story, but it Is hard to force them into
covering ut this time when, at last, something
definite in the way OF promise Of relief is
Forthcoming from the roads, :, .
With $50 cars against 49 in Minneapolis and
eos against 672, the northwest showed up S64
cars wheat, which was doing better, yet at that
the run was 13I under last year, and locally
there was another falling of In stocks, making
the loss 900 bu tar this week. Chicago
got only " against 125. Winnipeg ran
over with 455 against 2S7 st. Louis received
$4,000 bu against 1900 and Kansas City $1,000
against 81 900. There has been talk that the
winter wheat is we'll marketed, but apparently
some well-informed people do not think SO. Az
to this movement being over. some Of the houses
operating southwest evidently think that instead
OF that there is much to come. In the North
western Miller the Van Dusen Harrington conf
pany says: kansas is full Of wheat. Delayed
threshing and car shortage have delayed the big
movement. There will be large and regular
supply Of choice wheat turnout the season.
Liverpool closed * @1ad lower.
BrCOmhau caDled: w neat was easy at the
opening, with values Il @ssd lower, being infu-
enced by the weakness of American markets
yesterday, larger American receipts and easier
Argentine offerings. Toward midday the under
tone became steady with some shorts anxious to
cover. Corn easy at the start with prices
hd lower The market was dull and narrow
with some pressure attributed to disappointing
spot demand and in sympathy with the weak
ness In wheat" -
The forecast is as follows:s= Minnesota: Snow
furries and partly cloudy tonight fair and
colder in east tomorrow. North and South Da-
tonight mad in east Friday. Kansas, fair and
colder tonight and Friday; also Kansas
for Iowa and Missouri. Indiana, fair except
snow Lake Michigan; colder Friday. I'LL
nois colder Friday and in west tonight; fair.
Wisconsin, increasing cloudiness with showers
In north, turning TO snow furries Friday.
The milling situation Is most important and
appears 10 be against the bulls. The North
western Miller says: THE Washburn mill is
Idle this week. That cuts about 5000 brls
daily from the output. The Pillsbury A is also
down. which takes off about 10000 brls more.
The Consolidated Milling company has two
mills in the imperative list. representing 4,5OO
brls daily. Here is working capacity of prac-
ticaly rs, 600 brls daily that is idle because Of
unsatisfactory milling conditions and in what
heretofore has been the rush senson of the
year. The great drawback is the high premium
on spot wheat. as result Of light receipts
Primary receipts 921, 900 blu against pa, 900.
Clearances. wheat and -four 900 Blu. ~.
December sold down to 1870, but was checked
by an estimate Of 100000 blu Argentine ship
ments and short covering, selling again to 74hc
Lewis had the following from Pfarrius, the
New York exporter: Antwerp freight offered
at Id per ou-that is lowest rate for five years
No takers Antwerp has been the principal
buyer of our red winter wheat"
Mclean, Winnipeg, wired: "Cash demand
worst have seen it this fall; exporters out of
the markets.