The Minneapolis journal., 1901-05-25
LIGHT VARIATION IN EITHER JULY OR SEPTEMBER
The Waiting Tendency Continues in
Wheat With Trade Light in
All Markets.
LIVERPOOL HAD A HOLIDAY
Local Stocks Decreased 4OS,33S Bu.-
General Gossip OF the Strong
and Weak Points.

Minneapolis Chamber OF Commerce, May %.
"A holiday in Liverpool. the tone OF indii-
ference in continental markets and the lack
Of anything especially new in the genera
domestic situation brought quiet close 10
the weeks wheat market. July varied only
1sc for the entire session and at times trad
ing was at 3 standstil and extreme dullness
ruled Il was the same in other markets.
There is no lack Of interest but rather q
pronounced tendency TO wait. AS TO the
main factors in the general situation tne
week ends with no especial change. On the
one hand Is the undoubted good outlook Ior
the growing crop and possibility OF an
enormous yield Many are inclined to think
that if existing conditions were fully olsI
counted prices should range much lower.
Against this is the good cash business and
the natural strength of the July option from
the supply standpoint. Recent large de-
creases in stocks, heavy shipments from
lake ports and confirmation of the bad out
look in Germany are Strengthening factors.
There is, besides this. the incessant run or
damage news from the southwest and more
recently from the middle west and continued
reports of the Hessian fly. To what extent
the present outlook viii be maintained until
harvest time is of course the great question.
Possibilities OF crop damage and deteriora-
tion are all in favor of the buyer at this
time, and some inclination is shown to hold
wheat and walt. 1t is not forgotten that the
sensational tull developments OF last year
came somewhat later than this and that in
the early start northwestern conditions last
year were considered favorable. But for
all this there is a growing feeling that un-
less tho near future shall bring something
20 change or Offset the generally favorable
prospects for a heavy yield wheat will turn
lower notwithstanding the cash situation
End other sustaining elements.
The weather map showed clear weather in
North Dakota, light showers in South Da-
kota. Kansas. Nebraska and western Iowa
From the southwest to-day's reports were
less favorable. There is much talk of dam
age IN Missouri and Kansas. Australian
shipments for the week were 4S0, 600 bushels
against $4,000 bushels last week and $4,000
bushels year ago. Receipts in the United
Kingdom were 100000 bushels, against $685.
coo bushels last week and 4,12S, 900 last year
There was inquiry reported from exporters
with moderate business resulting
Primary receipts were 491 900 bushels
against 5S1 600 last year. Clearances wheat
and -four, 250,00O bushels; corn 255. 900 bush
els. Minneapolis received 189 cars and Du-
luth Al, against 400 and 103 last year.
Local stocks decreased 4OS, ,S35 bushels for
the week, a somewhat larger decrease than
had been expected. The total in Mime
apolis elevators now stands at L, ,62O, ,4O3
bushels
The close was quiet, July at 71X@72c; Sep
tember, 6S%Q6S%c May, Tic. May corn
closed at 38e; July 3Sc.
In cash wheat there was a fair demand at
7kc over July for the average lot of No. l
northern. No. 2 northern sold at Zoe for
ordinary to 71c for choice. No sold from
641sc to 6sc Rejected wheat sold from 62c
to Csc, and no grade from SIC to &c. ex-
eept for poor lots of no grade that fell to
66c and 54c. No. 1 northern to arrive sold
at PIE