The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-18
A Market Feebly Responsive
Cables Higher and Export
Demand Better.
Market Record Estimate Bullish,
Cash Demand Better and
Receipts Light. 1.
"A Small Gain in Price the Net
Result-Flour Mills
Close,

MINNEAPOLIS Chamber OF Commerce. Oct. H.
The bulls, had they been able to order 1t so
beforehand, could scarcely have had a lineup in
the news more favorable to the price Of wheat
than that presented this morning. In view OF
this, the action Of the market thru the trst halr
OF the session was disappointing, for tho firm
ness ruled and quota tons were higher, no such
advance was made as might ordinarily have
been expected. To begin with, there was the
sensational report Of the Market Record which.
tho not officially promulgated up to noon, had
leaked out in Chicago and was said to make the
wheat crop Of Minnesota, North Dakota and
South Dakota only 17o,000,O00 bu. Higher
cables were the next influence, for Liverpool
came unchanged at first and advanced 5000
later, this due to light Argentine offerings, but
more especially to the small receipts at Win
nipeg which market is naturally watched very
closely by the English trader. The weather
was unsettled with light showers in Canada,
the Dakotas and Minnesota and fair rains in
Illinois and the Ohio valley, with hardening
effect upon and oats and some benefit to
wheat prices. Cash demand was better gen
orally. Duluth wired that there was sharp
demand. there for spring wheat for export and
11sef over December was reported bid for No.
northern to arrive in Duluth in January. St.
Louis reported good sales Of -four for export
by winter wheat mills, and millers were
buyers Of the December option in st. Louis and
Kansas City, this looked probable Last consid-
Grafton was the wheat movement, again bull
ish, the increase of yesterday and Tuesday be.
ing lost, the northwest showing SO cars less
than year ago Or 34e against 452 at Min
neapolis and 2s5 against PSI at Duluth. Chicago
received GO, against 80, Winnipeg 342 against
43e. st. Louis $4,000 bu compared with $4,000.
and Kansas City 29e, 900 against 1s1, o0J.
Minneapolis elevator stocks have increased
900 bu SO far in the week.
Liverpool closed H@hd higher.
Inquiry at the office Of the Market Record
before brought the statement that the
announcement Of the estimate Of 10000, 600
not yet been included, and, while 1t seemed
likely the final figures would run in the neigh
borhood Of the total named, no such statement
had been issued nor would the complete re-
port appear until tomorrow.
The Northwestern Miller says: 1.-THE fact that
three Minneapolis mills are idle Is a pretty
good indication Of the Indifferent character
Of the -four market. However. there are some
straws which 60 to show that buyers are grad
ually gaining confidence in present prices and
are more disposed to take flour than they have
been. Business rather improved with Mime
apolis mills last week. That is, most all
made larger sales. Where some mills sold less
flour than they made others sold considerably
more. Domestic buyers appeared more in
clned to take hold than heretofore. The ad-
vance IN wheat, perhaps, helped trade some
what. Were there a strong market now for a
while, 1t might create an improvement in trade
A gratifying feature was the sale Of consider
able patent -four to the United Kingdom. TAX
ing the business done by Minneapolis and that
Of outside mills, there were possibly 70, 900
brls sold."
An interesting summary, covering the durum
wheat situation, appears In the New York
Journal Of Commerce, as follows: "Were it
not for the particularly large movement OF
macaroni or durum wheat this season the steam
ship people would be complaining much more
loudly than they are now: This wheat is find
ing favor turnout the Mediterranean, and a
large part of 1t back to this country
in manufactured form in great quantities not
withstand1ng the duty of 11Ac pound on
macaroN1. William Lunham of Lunham &
None, thru whom, as freight brokers, a large
part of she room for this wheat is engaged
on the ocean steamers, estimated on Saturday
that fully $4,000, 900 bu will be exported Of
the 1905 CROP Enormous engagements of ocean
accommodation have already been made for
months ahead. By far the largest part of
Is the shipment will 60 to Marseilles. Other
destina tons inclsde Rotterdam, Hamburg, Bre-
men, Genoa, Naples, Oran. Algiers, Tunis. Tore
del Annunziata, n'apani, Syracuse (Sicly J, Pal
ermo, P1raeus and Malta. The large increase In
the export movement Of macaroni wheat this
year is partly due to the failure Of the Rus
sian durum wheat crop, but exceptional quality
Of the American article is also responsible fol-
the sudden burst Of favor shown it,
Primary receipts, LOGS, 900 bu, against /, 3O9,.
OOO Du last year. ClearanceS Of wheat and
Hour, 361, 900 bu, including $500 brls of flour
Argentine shipments estimated at SOO, 600
bu for the week.
5, The forecast: Illinois, cooler, generally fair
tonight and Friday, except showers in north.
east tonight Indiana and Michigan, showers
Missouri and Iowa, fair. tonight and Friday
cooler tonight and east Friday. Wisconsin
fair tonight and Friday except showers cas-
tonight. Minnesota, North and South Dakota
Nebraska, Kansas and Montana, fair tonight
and Friday; cooler tonight.