The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-07
RANGE OF MAY WHEAT
OTHER GRAIN MARKETS
CHICAGO GRAIN
Bullish Tendencies Lift Wheat and
Improve Other Grains

Chicago, April Publish tendencies pre-
vailed at the opening of the wheat pit to-day
and Influenced a better feeling in other
up, at 71A@7lkc, on steady cables, bullsh
crop reports and light receipts. There has
been so much bearish talk for some time that
that had to be covered early. Commission
houses bought fairly and caused an active
trade Locals still supplied the cereal There
was considerable talk of change in the tenn
was taking on bullish aspect. A change
was made to-day in the report of the April
condition Of the Kansas state crop of wheat
which on Saturday was indicated at 1.-THE
revised figure showing only 70, as against lO5
year ago. This report indicates a possible
falling off of 30.0C0.G00 bu from last year's
yield and shows 100000 less acreage than last
year, The change Of the report was de-
cidedly bullish factor and had much to do
with the early buying The principal reports
so far received show a decidedly bullish con-
dltion. Missouri is so, against SO last year;
Kansas a. as compared to 10o: Ohio a.
against SO. and Illinois March condition rs
against 9S May dipped to it's low opening
price after touching the higher figure, but at
the end of the first hour strong at 711s.
Local receipts We're 80 cars, none contract
grade; Minneapolis and Duluth reported 257,
making a total for the three points of 2s7,
against 40 last week and 504 a year ago
Worlds shipments were 1852 900 for the week,
compared to 6,632, 600 bu last week and S102, 900
a year ago. Breadstufts on passage increased
Corn weakness and a favorable crop est
mate by local paper depressed wheat for a
time after the early show of strength and
May slipped off to 70B@70Ac. Short sellers,
however, got frightened when the price stead
led, and there was an easy recovery to a firm
close. May &c ups at 71A@1$sc.
71Ac; September, 71N@11Ac; December, 725sc'
Cash; No. 2 red. 77@79c: No. 3 red 7oD1fc :
No. hard winter, 721a@7Sc; No. 3 hard win
ter, 11Q72c; No. l northern spring, 72@74c:
No. northern spring, 701A@72c; No. s spring,
6s971c:
Colder weather induced liberal covering by
corn shorts, who went home Saturday think
ing to-day would be warm and balmy The
wheat strength also lent strength and the
cables showed SO little response to our recent
weakness that prices took fair upturn. There
was no large early trade, for most of the in
terest ceDtered in the wheat pit Nav corn
oponed 1@4c to A63sc higher, at 5Sss@58a4c
and soon sold to SOC. The quiet nature of
trade later eased prices to 5SBc. Receipts
were very light at IS cars
After the early demand had put the May
price up to 591a some of the scaipers tried to
SELL They found that all the demand had
been h!led and that there was nothing wanted
at at, the high pric a Nay began to tumble and
but May closed weak 1Ac lower at 57%@6sc.
Close: April size; May o7B@58c; July
$3.50; Sept 5sAc: Dec. 47Hc. Cash: No. ),
Oats were dull but firm with other grains.
There was no early feature to the market.
though the cash situation was still good and
May options were not offered freely Shorts
still showed fear Of what might happen In this
future. May opened 7s@%c higher, at 42A a
43c, and steadied around 42Ic. Receipts were
II cars.
Close: April, 42bc; May 421kc; July, $3.50;
September, 2sA @2sAc; December, 29Ac; cash
No. 2, 42A@43Ac; No, g. 42k@42Ac.