The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-11
FRIDAY EVENING, APRIL Ii, 1902.
Very Nervous and Unsettled Feel
ing---Gov't Crop Report Inter-
preted as Bul1ish.
FOREIGN CROP ADvIcEs BEARIsH
Local Flour Mills VIII Close Down
In Part-CIearances Light
All Around.

Minneapolis Chamber Of Commerce, April
h-Wh heat opened higher this morning and
very nervous. May touched 71Ac to start but
held II only moment 1t was extreme nerv-
BUSINESS rather than good buying support that
brought uhe higher opening The trade was
all at sea as to the interpretation OF the gov
eminent report. Chicago wired that in that
market traders did not know whether to place
pnlllsh or bearish construction upon it, and
the tendency was to walt for the preponder
ating sentiment to assert itself. May sagged
OF, Minneapolis, going to 7o3s. Estimates
of the winter wheat yield, Of which there
great number vary widely. One Chicago au-
lhorlty, takes the government report Of 1871
for the present condition, TO mean yield of
l2Ss bushels an acre. On this basis the same
acreage as planted last year would yield
ot.U0O,e OO bushels, but on the government
estimate OF an increase to Zoo. 900 acres on
tue present crop, 1t would suggest yield Of
4l5,Oo0. 900 bushels. The foreign news was
bearish. Liverpool up Ad to start and
closed 1sYAd higher. Broomhall cabled that
the prospects in Europe, taking conditions all
the latest Argentine reports Of favorable
conditions In the interior. Temperatures N
the winter wheat territory are mild, with some
frosts in Kansas and local rains In Oklahoma.
Before noon the market strengthened again,
May selling up to 714Gc. One Chicago house
was reported buying freely on the talk in
Liverpool OF the possibility of England putting
duty on grain. which, should it happen
would probably mean good buying here by
England before the duty became effective.
Argentine shipments for the week were
], 5000 bushels compared with 1850, 600 in the
previous week. and 1,S44 900 year ago.
Primary receipts We're 2S6, 900 bushels com
pared with 900 bushels last year, and
shipments 1872, 900 bushels against rs, 600 Clear
ances OF wheat and -four 12O, 900 bushels Min
neapolls had Q66 cars against l16 last year,
and Duluth 10 against Is. At the rate millers
have been drawing on terminals, the local
stocks should show decrease this week OF
about 100000 bushels
The Modern Miller says the condition of
the crop Is generally maintained over the
larger part Of the wheat territory, but that
moisture is needed over the late sown soft
winter wheat. Near the close the local feel
ing was little less bullsh on the report
that the local flour mills will close part of
the capacity for week or ten days.
Wheat and -four clearanCes for the week
were 3,s43 900 bushels, against 4,446 600 bush
els last week.
Minneapolis May closed at IKE July,
I2S47212c; September, Tic. Chicago May
closed 72es972Ac.
Demand for wheat to arrive was a feature
or the cash market. No. ! northern and No.
were salable to arrive at prices about even
with spot wheat. The general market
showed much wider range, owing to the
unsettled option. In No. l northern sales
were made from 722sc to 73c. No. northern
sold from T0s4c to re. No 8 ranged from
$3.50 to 105sc and no grade from Csc to roc.