The Minneapolis journal., 1902-07-11
More Rain Is Predicted for the
Spring and Winter What
Regions.
OUTSIDE TRADE is VERY LIGHT
Market Appears Shaping for an Ad.
vance-Receipts Continue SmaII-
er Than Last Year.

~ / Is. 3 + 'stgs j. h .-. 70. 3. 10
Minneapolis Chamber of Commerce,
July l1.-There was an easier tendency al
the opening in wheat to-day induced by
clear, brilliant weather in all parts of the
country, but before trading got fairly un-
DER way, the weather forecast for the
next 5thirty-siX hours was received indi.
eating generally showery conditions for
the northwest, southwest and west. Cow
ering by shorts stemmed the selling tide
and prices began to slowly climb. July,
which opened at 7S14c, sold UP to 7S3ac;
September advanced from the opening
price of,71Hc, to 71B@72c, and December,
which started out at 71@711sc. sold up to
l13sc by 10 o'clock. Prices eased off to
715sc for September and December to
f1B@71Ac by II O'Clock. Trade was very
quiet.
The government report on wheat was
considered bullish, indicating, as some au-
thorities in the trade figured, a yield of
both spring and winter wheat of 100000
600 bushels less than last year. The
bullishness of this was, however, offset
by the enormous increase in coarse grain
acreage. 1t is generally believed that
considerable damage, was done to both
winter wheat and corn by the heavy rain
that has fallen since the report was COM
piled and that the corn acreage will be
greatly reduced from the present govern
ment figures. Liverpool opened A@$sd
lower and closed A@5sd lower. The
weakness these was attributed to brilliant
weather, following the recent rains. Spot
wheat at Liverpool was 1ad lower. Lon
don reported more inquiry for wheat on
passage and foreign offerings were small
er. Argentine wheat shipments for the
week were only $4,000 bu. compared with
100000 bu last week, and 3S4 900 last
year. India is beginning to ship fax,
$4,000 bushels being forwarded this week.
uha
against 2S2 cars a year ago; Duluth re-
ceived 27 cars. against %. Primary wheat
receipts to-day ,6S9,OO0 bushels, compared
with $4,000 bushels year ago. and ship
ments were 400, 900 bushels, against $685.
600. Clearances were reported at 107, ,12S
bushels of wheat and 3d. 119 barrels Of
-four.
The market developed strong tone toward
Sne close and had all the earmarks of a
bull market, but outside trade was too light
! to give 1t an impetus and the close was only
moderately high. but very firm July closed
&c higher than yesterday, at 1880; Septem-
Der, Nc advance. at TIC, and December ss@1sc
up. at 711ac. No export business was re-
ported. -,
Z The Modern Miller was bullish, saying that
rains have further interfered with harvesting
in the winter wheat belt, besides lowering
the quality of the grain. Reports of wheat
sprouting in the shock have been received
from Illinois, Missouri and Nebraska. A
large movement of wheat to market can be
looked for with more settled weather.
Cash wheat in good demand and the
premium on No. 2 northern advanced an
other fraction to-day, selling from Sc to 4c
over September. No. l northern sold at &c
over July and No. at, from &c to 21ac over
September. No grade sold at from 64c to
1876. Spot grade wheat met ready sale and
considerable was sold to arrive at 79A@791ac
N.Y. 1 - In fNy~N IN
northern, but no grade wheat was very slow
of sale. g. ''s ..-: