The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-06-23
EARLY WEAKNESS FOLLOWED BY STRENGTH
Wheat Breaks 1-2c to Start
the Week but Closes for the
Day Strong and Higher.
VISIBLE DECREASE 2,5s5,ooo BU.
Strength in Corn "a Help-Local Re.
ceipts Are Increns sing
SItnhtlN. .--.'

Minneapolis Chamber of Commerce, June
23-Wheat made turn about this morning,
opening weak aud 1ac under Saturday, then
firming up and selling above Saturdays close.
Good weather and lower cables threw off the
market to start. French cables We're the
most depressing, showing decline equal to
&C In spot wheat in Paris and drop OF about
21ac in Paris September and December, or
new crop wheat. Liverpool was OFF 1sd at
first, I'd lower on second cables, and as@1ad
lower at the close. On these cables the mar
ket broke, and the general tendency to sell
was helped along by local receipts OF 4Vs
cars against 1863 last year. July sold at 'o12
375sc and September at 694s469a4c. When
the later news began coming little more
confidence was shown, Corn was strong,
especially Chicago July corn, and this mad
good effect Traders who, had watched the
moderate decrease here last week had been
influenced little too much by 1t to expect
O light decrease in the visible, ana the ue-
crease of 2535 900 blu was somewhat heavier
than they had figured. This brings the pres
ant total down to 21,O35, 900 bu Chicago sent
several messages calling attention 10 tne
light stocks of contract wheat there,-only
about 100000 bu, which should be an N
duenoe for firmness in July. Predictions OF
showers for tonight and Tuesday came later
St. Louis was about the weakest market rel
atively. Some $4,000 blu of new wheat was
received there. At primary points recelpts
were under last year, at o51, 900 blu against
631 900, and shipments were $4,000 against
sol, 900 Wheat and -four clearances equaleo
s4s, 900 blu. Minneapolis cars, 40S against 3oa;
Duluth, rs against o.. AT noon July was
about cent up from the opening, selling TO
76ac, and September had gained &c from the
start and was holding around 7O9sc.
Worlds shipments for the week were $40,
900 bu against 900 last week and 9,4Sl wv
q year ago. America shipped 3,Sbo,0Co ou;
Russia, 1924, 900; Danuban ports, 792,OOo; Ar
gentine, 704, 900; India. 900, and Australia,
nothing. The amount on passage at 81 96oooo
bu, shows decrease for the week OF 1888,
coo bu.
The market was very strong, closing near
the high points Of the day. There was con-
ON every show Of selling pressure July
closed at 1850; September, 7O7sc; DECEMBER
7oAc
There was the regular good Monday morn
ing cash wheat market. Offerings were not
quite so heavy as receipts OF 4Oo cars "oulo
indicate, as a part of this went for delivery
on previous sale. Not so much business was
done In wheat to arrive, although there was
a little trade In No. 2 northern to arrive at
7s1ac The spot No. 2 averaged 1896 few
choice cars running to ~74c and above. NO. !
northern brought 765s@76&c for the bulk. NO
8 wheat sold at 725sc for nearly everything.
Rejected and no grade ranged from Tic down
to &C. Later in the session after the option
had settled into firmness at the higher range
there was trade in 10000 bu lot OF NO.
northern to arrive at 78c. 80,