The Minneapolis journal., 1901-04-22
BULL TURN IN WHEAT, AND GAIN OF ONE CENT
Liverpool Closed 1-8d Higher on
Reports of Damage to the
German Crop.
SHORTS SCARED INTO COVERING
Chicago Spurted Up 212c for Corn,
Which Helped Wheat-Clear-
ances 1,OS1,O Blu.

Minneapolis Chamber of Commerce. April
22-Wheat opened strong and higher this
morning aud scored an advance of 11se up
to noon. May started at ssc over Saturday S
close and sold to 72c. July opened at 72sse
and sold to 1850. There was considerable
short covering, especially in July. The ad-
vance was principally on a bull turn in
Liverpool. That market was up 1ad TO start,
came sd up on second cables and at the
close was rs over Saturday. The strength
there was based on reports received over
Sunday of damage to the German crop, these
reports bearing out what has been received
previously and bringing further details or
damage. Broomhan cabled that reports OF
damage by frost in Germany were being re-
ceved freely, that the English trade were In
doubt as to how reliable they were, but
were acting on the assumption that there has
been damage Berlin ran up lac at the close.
Paris closed 10 to 20 centimes up on wheat
and 20 TO so centimes up -four.
In the Chicago corn pit Phillips was a
free buyer, shorts were forced in and May
corn advanced 212c to 4612c. This helped the
wheat strength. Chicago May wheat passed
Minneapolis, and gained 1850 over Saturday s
close, selling at 725sc. A large part of the
Chicago buying was said to be for south
western short account Clear weather is
general over the west the northwest and
southwest, with rising temperatures every
where. Rains fell in Illinois and eastward
The predictions are for clear and warmer
weather. Not much crop gossip from the
southwest was forthcoming, and the winter
wheat situation was passed over for the
moment in the greater interest in the foreign
news. Worlds shipments showed S,26S, 900
bushels, against 10, ,166 900 bushels last week
and $780, 900 bushels a year ago. America
shipped $685. 900 bushels of this, and Russia
shipped ], 40 600 bushels. Wheat on passage
decreased 1,640,0 600 bushels. The visible de-
creased by zoos, 900 bushels, bringing the total
down to 49,S12,00O bushels.
1t seems the general opinion that before
the final settlement May wheat will sell over
July, yet the trade is somewhat mixed on
this proposition. In former years, whatever
may have been the general situation, there
have usually been enough holders of May
to let go at the end and close the option below
July. This year circumstances are different
There has been a good dea of cash wheat
sold lately and the arguments suggested as
favoring a premium for May are the probabil-
tiles that elevators will hold on to their
wheat, that millers will call whatever they
have coming and that there may be some
difficulty in making deliveries. Elevators
have been buying May wheat. Primary re-
ceipts were 521, 900 bushels against 1874, 900
bushels last year. Minneapolis received 306
cars and Duluth IS, against 269 and So last
year.
The local corn market was active in sym
pathy with the bull turn in Chicago, but
followed the advance only in part May corn
opened at 409sc, sold to Ale and held firm at
that figure
At the end the market was firm and active,
closing near the high point. May wheat
closed al re; July wheat, 733s@7312e; Sep
tember, 7114c May corn closed Ale; July
corn. 4112c
Clearances wheat and -four for the day were
1,0Sl 900 bushels; corn, 225, 900 bushels.
The cash market presented much livelier
appearance than on Saturday. Offerings were
larger, but millers were in the market for
everything and the usual number of outside
buyers were here for the Monday buying
The good wheat was taken promptly at about
Saturdays basis, 11lc over May for No 1
northern. Choice No. L sold late brought 73c
the average for the day showing 72s4c. No. ?
northern brought 69c to 7O1Ic and was well
taken. No. solo from 621ac to &c Rejected
ana no grace were more quiet, but were sala-
Bile at firm prices. Rejected ranged from 56c
TO 6212c; no grade from 54c to 62c.