The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-24
Going to $500 for Minneapolis
May-Blllls Put to Rout at
the End.
The Market Does Better to Start
but the Bears Force It
Lower.
Receipts Light and Local Cash.
Demand Better Than Of
Late.

Minneapolis Chamber Of Commerce, Jan. A.-
Wheat WAS steady to firm for the better part OF
today's session on light receipts and reports or
better -four trade. One rumor was OF the sale
of patent -four for export. 1t was confirmed,
but proved to be only 800 barrels. The weather
was snowy and suggestive of blocked ROADS ana
light deliveries. These things were enough to
offset weakness in other items and hold the
market. TO noon Minneapolis May had SOLD
from S3Hc to SAC and Chicago May from s64sc
to S61a WS6esc. The, foreign news was bear
tsh. Liverpool was off I'd at first and 1ad to
close. Paris closed equal to 15@Ac lower,
Berlin easy and Antwerp fsc off. The wire
service was still partly crippled and not much
news came along.
An increase Of 100000 bu appeared in the
report Of elevator changes for four days. This
makes a total of Is, 262, 900 bu now III Minneapu-
lis. A year ago the total was 1S,729,OUO. at
Duluth there was total at that time OF
4,469, 600 bu. o. 1s,19S.OO0 in all. Today tho
Duluth stock is approximately 5000, 900 bu and
the two markets carrying In even figures
q $50 600 bu. or S,050,O00 bu more than a year
ago This showing is not conducive to Dull
operation. 1t may have little actual effect In
a commercial sense. but the Spectator who
1t and notes that the accumulation here and
ut Duluth is steadily going on, and that the
difference between last years stocks and pres
emit stocks is widening daily, is likely to decide
to wait until the thing changes about before
taking hold, and that is one important influence
against activity in speculation. AS to the pres
ent movement Of wheat to market, it is rather
I'D here today against 297. The result was an
immediate Improvement in cash demand, and
No. / northern sold little closer to May, or
2@2kc under. Demand was the best for some
time. The futures showed little effect however,
for the pit crowd have it in mind that the mar
ket weeks ago made notable improve
ment in cash demand light receipts, but failed
hold it. and when the effect of the storm
has passed receipts, it is believed, will again
pick up promptly as in the former instance.
Elsewhere the movement was light as well, 81
in Duluth against 2, and II In Chicago
against IL. Winnipeg had comparison Of sc
and 80, and the st. Louis comparison was 81, 600
bu and Is, 900.
The market went TO pieces again before. the
close. Watson a big seller the close
drew on, and Woodwork sold big lots and
bought some. but OF the whole the selling was
heavy and too much for the market. Minneapolis
May went down to S3A ano closed on feeble
rally of a small fraction.
Chicago reported the sale of $4,000 bu No.
northern Manitoba wheat late last night. The
wheat was at lake Dorts.' A large commission
house reports the sale Of 10000 bu Manitoba
for export. Export sales Of 100000 bu oats
made over night by Chicago shipping
houses and export brokers.
Chicago says that seaboard exporters confirm
the report published last week that practically
all Of the Manitoba wheat at lake ports and the
east has been sold to go abroad. This includes
the supply at Fort William and Port Arthur, as
we'll as at Georgian bay ports and Buffalo, also
the Manitoba wheat bought last fall as low as
1jc below New York May, Buffalo, and
now held at the seaboard
The weather map shows generally higher TEN
peratures, and cloudy in all parts Of the coun
Try. Inc severe drop predicted over winter
wheat states did not materialize and fair snow
protection exists except in parts of Kansas Ne
braska and Oklahoma. h If,
Primary receipts 511 900 bu against 521, OOO
Total clearlnces: Wheat, 10000 bu; -four
$4,000 brls; corn, 1.Os6, 900 bu; oats, Is. 900
wheat and flour equals 800 600 hu