The Minneapolis journal., 1902-07-10
WEATHER CONDITIONS AGAIN RULED WHEAT
Clear Skies Everywhere To-day
Prompted Selling and Prices
Eased Off.
GOOD EXPORT DEMAND DEVELOPS
Impending Govt. Report Caused
6 Traders to Be Cautious and
~ Trade Was Light. 80 ir

MINNEAPOLIS Chamber OF Commerce, July TO-
The wheat market opened easy to-day on
= indifferent cables and clear weather In the
south, southwest and northwest, with pros
sEpects of a continuance of the same for some
Stime. The weather map shows yesterdays s
Grains to have been quite general over con-
$siderable part of the winter wheat belt or
the southwest and middle west. and as 1t Will
be several days before haryesters can be put
3to work in the fields, the effect OF the clear
weather was neutraliZed. July opened 1sc
sIower than last nights close. at 7Sssc; Sep
stenber opened off A@asc, and December at
decline of sc at 713sc." The market was very
dull and trading was at times at "a complete
sstandstill. ....- .~. :. . -.
s. Liverpool was UP only Ad at the opening,
in response to the advance in American mar
skets yesterday, and closed 7sd higher spot
wheat in that market, however, was firm and
higher, Kansas hard wheat being s&d, north
:ern spring wheat 1ad, and Argentine wheat
Nd higher New York reported foreign in
quiry somewhat better and. that market was
relatively irmer than other markets, irdlcat-
ing foreign buying. Foreigners are beginning
to evince more interest in American wheat
since it has developed that the world s visible
supply is smaller than at any. time since the
Letter deal, and that the continued Interrupt
ton to the American winter wheat harVest~py
rain Sinsures small deliveries and high price
for some time to come if, indeed. IL does not
r buying from hand to mouth for a long time
now, believing that winter wheat would be
harvested freely and prices would be de-
pressed materially before this time. 1t would
. not be surprising to see them take hoio now"
Broomhall= cables that wet weather prevails
in England and that the spot market is very
strong. Paris closed 15@3G centimes lower;
Berlin. unchanged Budapest, 3sc mgner;
Antwerp, sd lower.
Local receipts to-day were 17s cars, against
227 cars year ago: Duluth received 81 cars,
, against "a cars. Local wheat stocks promise
to increase between 500, 0Oo0 to 4O0, 200 bu this
week, the first increase recorded for several
months Clearances were reported at $685.
600 bu of wheat and %, 900 barrels OF hour.
The Price Current says that winter wheat has
been further Slightly impaired. Oats are
rusted somewhat and lodged but prospects
are above the average. Corn is maintaining
very good condition.
REPORTS Of good export demand at Chicago,
Duluth and the seaboard caused a slightly
frmer tendency at about the middle of the
session, but traders were not disposed to
do much until after the appearance OF the
government report, which is due at 3 O'Clock
this afternoon. The report will give the con-
dition of all grains July and also the acre
age of corn. 1t is expected thatsthe corn area
Will show a decrease, owing 10 the heavy
rains in June Improvement in other grains
is expected. Near II o'clock September firnled
up to 717s@72c. and December touched 7l7a9
715sc,- but prices eased off again and the close
was only a shade above the low point OF the
day. July closed ]hc lower than yesterday, at
7sAc, September 1ac off at 71lac, and De-
cember was down 5s@Ac, at 71G17l1sc. The
seaboard reported s45 loads Of wheat taken
for export to-day. Duluth sold loads. max
ing 100000 during the past few days.. and
Chicago disposed of 100000 No. I northern
to Liverpool: -.
There was a good demand for all offerings
of cash wheat to-day and the premium on No.
z northern frmed up nc on choice wheat.
number of lots Of No. 1 northern was sold
to arrive at from 791sc to 79ssc. Spot No. 1
northern sold at &c over July, No. north
-ern at 3@31ac over September, and No. at
2@21ac over September. No grade went at IS
QD7Shc.