The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-02-15
Bear News Comes in and Warmer
Weather Also Has It's
Effect.
Minneapolis May Goes to 827sc
and Chicago May Falls
o. to 841a@1sc.
Exports Not Heavy Enough to
ssa.s Absorb All the American
% " Surplus.

Minneapolis Chamber OF Commerce, FEB. 10
The wonder this morning was not that wheat
was soft and inclined to sag, but rather tnas
the price held so we'll against the bearish news
: that came in Liverpool was off Ad at the
! close. and Antwerp, the reflector OF continental
! supply and cash market conditions. was sc
OF Tor Kansas hard wheat and 21ac lower Tor
! Argentine lots. Murray Of Cincinnati put out a
! very bearish summary in the Price Current,
! making the winter wheat promise unlmpalred,
finding damage Of Importance, and figuring
| a very unpromising export situation. Inc ex-
F., portable surplus In country for the next
|. Ave months, according to the Price Current.
+ is as large as that shipped out In the, past
seven months. -. . 49,.
! Government figures for the movement of Jan
! nary excluding Canadian wheat, shows TO-
os1, 900 bushels of wheat and -four exported
This Is at the rate Of about 120,OO 900 bushels
! a year. Authorities differ, but even the ex-
s3tremists on the bull side admit that from our
Vast crops there left an exportable sur
splus of $50, 600, 900 bushels. while 175.OOe,OOo
.tbushels is the popular estimate and some estl-
I mates higher. 1t is clear that even
If the lower figures be taken, we are not
getting rid Of 1t at rate to effect a clean
Cup. and from on traders may as well be-
esin to figure on how much we are going to
s carry over Bradstreet's report, received some
Hdays ago. showed wheat and -four exports OF
tsIs, 545.Q 900 bushels in January. which is fine
nbusiness, but it covers both American and Cana
dian Shipments Taking away the 1O,os1 900
bushels from our side. Canada IS found to have
sent out S.464.000 bushels which Is giving
!, Ms a close chase. The Canadian surplus Will
one day be exhausted, but the question is when
sthis will be. Some advces indicate that Canada
rhas about 100000 bushels yet to export, in
/ Guiding everything in sight but, If one aver
Sages the opinions of Thompson OF Montreal
and other Canadian millers there is close to
20. 900, 900 bushels of wheat yet to be mar
keted at country points by farmers besides
the stocks in Canadian storage. and %, 600, 600
bushels available for export after allowing for
! milling requirements One may take his choice
81 opinions OF course, all considerations are
! subject to changes in crop prospects. but bad
crop news Is always a possibility, and Is likely
70 come at any time. on any day. In any year,
! daring the growing season. That is possibility
against certainty. Unless the crops fail
OF are cut down materially, there will be con-
siderable wheat to carry over from the old
supply.
! TIE decrease in local elevator stocks Is 2OO,-
GOO bushels for five days. Flour shipments
are still holding up to 10000 barrels day,
and while demand today not quite SO brisk
as Of late, No 1 northern sold again at Nc
under May and we'll taken: Minneapolis
against Is, and Chicago co. against ID. Win
nipeg had a comparison Of 100 cars and At
kansas City $4,000 bushels and 10000, and
ST. Louis SO 900 and 10000.
Fair weather is predicted for tonight ant
higher temperatures generally.
j: ,1Broomhall looks for big shipments from Argen
tine for the week and estimates that the tota
will be 100000 bu.
- Primary receipts 437, 900 btu against $4,000
eiearances. 2S90 900 bu.
Near the close New York wired: Gully 81
loads Of wheat worked yesterday. Manitoba. du
rum and hard winter. Also large business IL