The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-20
Holders Get Tired Waiting for a
Rise and Sell Out Early
Today.
The Gold Wave Prediction Has No
Effect-Australia Ships
Very Heavily.
Cain Of $50, 900 Blu in Minneapolis
Elevator Stocks for One
Day.

Minneapolis Chamber Of Commerce. Jan. 2o.-
Wheat went lower again today, ana gtnes ouiis
had "a hard time Of it. The market was. not
no much a declining one from pressure OF sales
asa wearing away market. Holders became
t1red of waiting for the rise that did not come.
Today there was the report of a cold wave ior
tonight and the bulls tried to make something
out Of 1t, but they could do little. Australia
shipped a big lot of wheat, 1,5S4000 bu New
York sent word Of the sale Of 200, 600 blu oats
and barley, of good corn demand and Of the
probability Of some business in wheat, but it
had no effect. Later it was reported that for
&agners were reoffering durum wheat IN New
Fork. Primary receipts today were $4,000 bu
against 672,0o0. Minneapolis stocks increased
saS, coo bu for the week. which makes the present
totsl IA, 1884, s4. The increase for one day since
figuring up the report is 100000 bu, indicating
q good gain for next week. Receipts here were
aQ8 cars against 435 year ago Duluth got
~ against % and the Chicago comparison was
81 and 20. Winnipeg received 106 cars compared
With o., and in the southwest there was the
&eanparfson OF 81 900 hu and 46, 900 at st. Louis
and $4,000 and 8B, 900 at Kansas City. Broom
hall estimates that the worlds wheat shipments
19r Monday next will be about 100000 blu, of
which quantity Europe will take about 1900, 900
bu. The actual shipments last week we're 1885,
coo bu, and those Of year ago 7,o56, 900 Blu.
Arrivals Of breadstuffs into the United Kingdom
100000 bu. He predicts that there will be
moderate changes in the quantity of breadstufs
on passage. -..
d. v. Jones, in the Commercial West: '.The
clear It becomes that it will require the offer.
sngs from Argentina and the development Of
drought in India to determine whether wheat is
o decline OF advance during the early spring.
IN view Of the contradictory reports from Ar
4entine IL will probably require the measure Of
offerings in Europe to bring Europe to decision
as to her wheat policy; whether it will be neces-
eary to make purchases In the United States.
That necessity will hinge, in turn, upon the out
come in India, where there is serious drought.
but an increased acreage Of wheat.
canada has about 80. 600, 600 more to spare
Any tendency in Europe to advance price would
pc met by an advancing market here, go that It
b question whether the two would get together
or whether they would continue to keep apart,
as at present. It will require, apparently, a
necessity in the case Of European countries to
force them to buy largely American breadstufs
from now on: hence It is useless to discuss the
pros and cons until perhaps 30 days pass. when
the Argentina pressure can be measured to
rome extent.
The third factor that will develop will be the
spring seeding in Russia, which will be either
Tor or against the price. 1t Is argued as q
general proposition that Russia will not be able
to seed her former area of wheat, owing to dis
turbances On the other hand, calculations or
Russia have proven uncertain that it may
develop quite the contrary. The situation, as We
see 1t, Is one Of waiting. ~ d..