The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-07-09
Iowa, Nebraska and Kansas Were
Visited by Soaking
q Downpour. e.
MoNDAY'sLoss PARTLY RECLAIMED
Worlds Visible Decreased S,987 900
Blu, 100000 of which Europe
sas.s - Contributed.

Minneapolis Chamber Of Commerce, July 8.
"A surprise in store for wheat traders
this morning. At the close yesterday skies
were reported clear in the southwest and
indications were favorable for a continuance
of clear weather. Considerable long wheat
was liquidated and liberal short lines were
put out yesterday as a result Of those con-
dtions This morning glance at the wealth
or map was sufficient to make shorts ex-
tremely anxious to cover and longs eager to
take on more wheat. The weather map
showed rains of from one to two inches IN
Kansas Nebraska, Iowa and Missouri during
the past twentyfour hours. and 1t was sui
raining in many sections this morning. July
wheat was up Sc at 1850 at the opening
September was 1ac higher at 717sc, and De-
oember advanced 3s@1ac to 7l&c A1ter
touching 7s1sc for July, 72M972asc Tor sep
TENDER and 71kc for December about MID
session, the market became dull and neg
Iected in the absence of news, telegraphic
service being interrupted between here ana
Chicago.
Foreign markets were generally quiet ana
trife lower. Liverpool opened asd lower,
but recovered and closed unchanged to 7sd
higher; Berlin was up Nc at the close; buoa
pest sc lower, and Paris $3.50 centln,es
lower The firmness at Liverpool at the
CLOSE was due to a decrease of 100000 blu
in European wheat stocks, as shown by the
monthly revision of statistics. which 1nol-
Gates that European consumption ourlns
June was much larger than generally sup
posed Bradstreet reported q decrease III
American wheat stocks east Of the ROCKIES
OF &C.,, 900 bu, making a total decrease IN the
worlds visible supply Of wheat OF $50 ooo
bu for the past week. Corn Increased l4aooo
bu and oats increased $4,000 bu. Beyond I'M
parting a irmer tone to the local Market
the enormous visible decrease had no appre-
ciable influence.
Local wheat receipts showed moderate
increase o-day, 176 cars being inspected IN,
against 153 cars a year ago. Duluth hau
"a cars day, against As cars year ago.
Total primary receipts to-day were 4oz,so
bu, compared with FAC, 1856 bu year ago, ana
shipments were 267, 19s bu, against 5'o,4I ou
year ago. Cearances were reported at 1885,
73O bu of wheat and 49, 1870 barrels OF Hour.
action from the high level and closed duli
Despite numerous damage reports from cne
rain soaked winter wheat country, the mar
ket which dragged within range of 1s@Ac
during the last hour, closed at a slight re-
and steady. with a good share of Monday
loss regained. July closed 1sc up from yes
terday at 1870 September closed with gam
of &c, at 72c, and December CLOSED 72V9sc
higher than yesterdays close, at 7lAc.
=. Offerings of cash wheat were larger than
yesterday. Demand was good for cholce
wheat, but low grades still dragged. The
trading basis was a shade lower than yes
terday on No. northern, NC over July being
the average price, while No. northern soid
at Yesterdays price, Sc over September, ana
No 3 wheat slightly Arm at from lie to &c
over September. No grade ranged from 64c
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