The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-12
Roads Must Hustle if Wheat Re-
ceipts Of Near Future Are
ss5 to Look Bearish.
But Shorts Are Undisturbed and
Apparently Ready to Stand
Thru December.
i'll. Tracy Quoted by Chicago as
Bullish on Northwest
Wheat. + =. =

Mihi sapol1s Chamber Of Commerce, Nov. Il
and consideration Of their position it Is be-
lieved by the bulls that the shorts are licked
to finish and have got to cover. For weeks
ply situation increasingly bullish. Today,
after all argument and counter argument as
to relief to come and big things the railroads
were going to do. none OF which they have
DONE, there is still of wheat to market
well below last year. Instead of being on the
increase as they should be the Minneapolis
elevator stocks not even holding their own
and today, on Nov. II. under the e1traordi-
nary conditions, there Is decrease Of 10000
bu for the two days since making up last
weeks report. On top Of this comes run Of
only 415 cars here against 500 a year ago and
8s5 against 4oe in Duluth, shortage Of 800
ears in the two markets. The shorts have
persistently stood out against this sort OF
daily showing because, apparently, they believe
that sooner or later more wheat must come In
but to date there has been no relief for them
1t was hard for the bulls to force any covering
today for the reason probably, that the big.
Eest run Of last reason came on the Tuesday
corresponding to tomorrow, or Nov. H. 1905
on which day 1898 cars turned up here and
in, Duluth. The shorts probably felt therefore
that tomorrow will be their worst day and
that the comparison then posted Will cause
them the most trouble, after which they no
Doubt. expect things to show up more favorable
10 them. That the railroads will do better
seems entirely probable. No matter how much
wheat there is in the country more ought to
come In than Is now coming. and there Is
probably not man. bull or bear, or believer
IN ID big crop or a small crop, who does not
expect larger daily receipts. That these Will
be so bearsh the shorts expect Is not, how
ever, certain II the roads double up on wheat
they have been bringing in the situation will
turn benrish, but unless they can at least
double up 1t will be difficult to make COMPARE
sons that will be very bearish, for there were
some pretty good postings a year ago. 1t is
true that day Of last year corresponding to
kNfnN tyoh 30 thA rpov nrt
which, having started wSl, began at that time
70 recede, and that this year the situation Is
reversed and the movement having started in
away under last year. has now probably passed
dow stage and should rise, yet there were some
large figures last year and 1t will be neces-
sary for the roads. to drag in good many
ears to top them. On Nov. Is last year. which
was q Wednesday, there were 7ss oars in
markets got S67, Nov. II, 664 and Nov. 49,
S16 Nov. 20 was Monday and 1,0s2 cars
were received and on Tuesday, Nov. g. there
were 1,17s, while thru the remainder Of that
week the daily receipts were 984, 734. 1914 and
s44. When Monday. Nov. 81, came around
1872 oars came in. After that the movement
was light and the two-day run over Thanks
giving day brought in only 72O, by which time
Minneapolis was getting nearly everything, 5T2
cars of the 72o coming in here and only 1874
In Duluth.
The shorts then have got to figure that In
order to make northwest movement that will
active and continued work. In the half month
remaining to Dec. the bull party might make
things uncomfortable for the short interest.
On the other hand the time advantage is with
the shorts An interest committed to that
side and confident of movement sometime Of
sufficient size to make more liberal supply!
could stand immovable against rise and go
into December with that full month in which
to-, make good on contracts, while the holders
Of December, unless they are confident enough
to go oyer also and take the chance Of having
the stuff delivered to them. will have to make
their arrangements in the next two weeks.
At present there is little wheat here and
naturally talks of any deliveries Dec. l..
OF the situation at Duluth and Buffalo the
Duluth Commercial Record says: lone Duluth
exporting house that has been in the business
for years has Just paid $500 demurrage to Its
ocean steamer company cargo of duruu,
and another has not yet got to the point Of
ascertaining what its demurrage will be as
the October seaboard shipment Of durum had
not left Buffalo at last account
Liverpool closed unchanged to I'D higher,
and Antwerp up &c on hard Kansas wheat,
but Of INC on No red.
Worlds shipments estimated at 100000
bu came out at 10, 200 or about as close a
hit as ever made. week ago the figures
were 1900, 900 bu and a year ago 1866, O00
The quantity on passage at so,97e,ooo bu shows
decrease for the week of $4,000 bu.
Chicago received only IS compared with
Bill, Winnipeg 119 against 372, st. Louis $1,000
bu against $4,000, and Kansas City $4,000 bu
/ against 5000.
primary receipts 11seooo Blu against t.
rs. 900.
The visible increased 775,ooo bu, making the
total 3S,746, 900 Blu.
Clearances, 100000 bu.
New York wired Daggett: export bids are
Be out of line for No. 2 red wheat, tho
ocean freights on the bottom
'tt,The sentiment among wheat traders in the
northwest is gradually becoming bullish.
Influenced by the light arrivals strong cash sit
uation and excellent export demand" said J.
l.. Tracy OF Minneapolis. who the Chicago
noor Saturday. 1.-THE crop in the three leading
spring wheat states 10 at least 20, 900, 600 bu
under 4thta of year ago. Duluth exporters tell
me that there is excellent shipping demand
and that grain is being carried to the seaboard
with but little more than ordinary delay, the
situation east Of Buffalo having eased up con-
stderably. l think May wheat will sell at
several cents. premium over Chicago MaY>n