The Minneapolis journal., 1902-06-13
July Was Less Active - Slight
Gains in September Wheat
" for the Day.
FOREIGN CROP NEWS FAVORABLE
New Wheat Moving Into ST. Louis
Possibility, of II Wet Winter
Wheat Harvest. -.a-

Minneapolis Chamber of Commerce, June 13.
Wheat was decidedly nervous this morning.
The price tendency was not very we'll defined.
The market was jerky at first and the scalp
ers, who dominated the pit, were quick to cut
and run or any turn either way. July opened
at 751sc, sold to 75ssc. broke to 745ac. recov-
cred to 75c and dropped to 741am745sc Sep
tember opened as@1kc up, at $3.50. sold to
6sAc, dropped to 6912c and recovered to
697sc. Sentiment remains firm in line with
tho strength of the supply situation IN all
grains Against this there are indications
Of an early and heavy movement of new
wheat. St Louis had some new Tennessee
and Missouri wheat to-day. Still the effect
Of this expectation Of liberal movement from
the crop is toned down little by the
fact that there has been a great deal of rain
where the country would have been better
OFF without it, and the quality OF some of the
new wheat has probably been lowered in
consequence. The suspicion of manipulation
in July makes for hesitation on the part OF
heavy long time traders. ST. Louis sent a
report based on inquiries covering eco points
and from them it is drawn that with fair
weather that market will be receiving 200
cars red winter wheat a day by July Is.
Predictions this morning were for continued
cloudy weather everywhere, with light show
ers.
The foreign news brought nothing of i'm
portance. Argentine wheat seeding is getting
under way with conditions very favorable.
For the week Argentine shipped 100000 bu,
against 66s, 600 last week, and 624, ,0o0 a year
ago. Germany has a wheat promise above
the average Judging from what. has, been
received to date. New York was reporting
damage in France but the fact that Paris
closed unchanged would seem to indidate that
there has been no great damage. There Il,
however, a generally frmer feeling in Paris
based small stocks and a week of weather
in France not exactly bad, but less favorable
than could be desired. Liverpool<closed wheat
I'd lower and was off sd OIL corn. -,
In Chicago 10000 bu No. northern were
taken early to go east Receipts at primary
points were 327 900 bu, and shipments 417,00o
bu, against $4,000 and 229, 900 last year. Clear
ances. $4,000 hu. Minneapolis had 210 cars,
j against 160 last year, and Duluth IA, against
"a cars. The Modern Miller says the wheat
harvest is advancing Slowly in some sections
owing to scarcity of harvest hands. The
quality Is not quite up to expectation. The
Miller believes that the early movement will
not be so heavy as is the general expectation.
= The Commercial West will say tomorrow
that northwestern crop conditions general
ly favorable, although supera bundance of
rain has tendency to run the wheat growth
toward too much straw.
New York reported % loads and 100000 blu
cash wheat worked for shipment. July wheat
Not much change noted in the cash
market. Demand was good, the bulk of the
wheat selling a basis the same as yester-
day, or nc over July for No. northern.
For No. northern to arrive, 74c was paid,
but later this grade sold to arrive at t7319c.