The Minneapolis journal., 1902-06-27
WHEAT OPENED FIRM BUT WEAKENED LATER
Favorable Crop Reports Took the
Edge Off All Around and
Selling Followed.
STRENGTH IN CORN AND OATS
Wheat Trading Principally I'm Sep
tember-Tendency. to Fight
-E% Shy of July.

Minneapolis Chamber of Commerce June u.
-Firmness ruled the wheat marke. at Ihe
about, yesterdays level for July and Decem-
Der, while September wheat was advanced $50
1ac, to 70A@7UBc. NO new feature was IN
sight, and with the foreign markets closed.
scanned, but nothing was found smportant
enough to be an influence for price changes
either way. Paris closed Is centimes lower,
London cabled that the Argentine advices re-
ceivsd there say the crop outlook IN Argen-
tine is excellent. and this was about all the
foreign news there was. Argentine shipped
previous week and 900 a year ago me
domestic view showed showers in Nebraska
and Missouri, but the map was not uniavora-
BILE on the whole The prediction OF showers
for tonight and Saturday, however. was
somewhat discourasing after the continued
wet and cold weather OF late, and TINS pre-
diction was really the strong item OF the DAY.
Some talk began coming Of grasshoppers,
and few samples OF damaged wheat from the
been at work were exhibited. The edge finally
came oft the market all around on a dip IN
Chicago which our market followed, and TINS
Chicago weakness was attributed to report
Snow says, is better than 1t was montn
ago. where the grain is still rlpening, Whlie
tho harvesting returns are showing yeios
larger than expected, the rain damage at mar
vest time not having been serious Reports
from fully one-thira of the entire corn area.
he says show a condition above 80. Oats
will not turn out quite so veil as expected.
Chicago corn was active and strong at first,
and oats were wild aud advancing. and wheat
traders were little timid Of the effect OF the
manipulation in coarse grains. Trade IN
wheat ran almost entirely to September, with
only an occasional trade in July. The Mod
err Miller says the most disappointing thresh-
ing returns are coming from the southwest
ana southeast while the best returns are
from Missouri, Illinois and Indiana. The
winter wheat on the whole is OF Nghter weight
than last year but of excellent milling quail
ity. -, ooo -:
Wheat and -four clearances we're 361 600 bu:
Primary points received 52s, 600 bu, against
45s,0O0 last year, and shipments l72,ooo'
against 051, 600. Minneapolis had 24o cars,
against 2os last year. and Duluth Is. against
AZ 80
The Berlin cables say the government crop
report makes the general outlook good with
the promise OF a total cereal yield equal to the
best for nine years. The market was easy
Mt the close. July closed at 1850. September,
7O1a47CSc; December 701sc.
The cash market was not so active ana
showed weaker tendency on low grades.
No ! northern did not vary to any extent
from the trading basis of yesterday, and at lc
over July sold principally from 76Ac to- 1870.
No was trihe easier, selling from TS9sc
to, 73Ac. Some choice No. 2 sold up TO TAG,
but No. to arrive went as low as 73Ac on
one trade. No. 3 wheat sold from 7l7sc to
72Ac for the average. Rejected brought
Csc to 6sc, and no grade sold from Tic down
to 6Sc