The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-22
While July Sells to s3ssc-The
Week Opens With Great
Strength Shown.
Broomhall Cabled That Jones Re-
port in Commercial West At
fected Liverpool.
The Dry Weather Northwest and
Rain at St. Louis the Bull
Factors.

Minneapolis Chamber of Commerce, June o.
Wheat opened the new week with the market
more uncertain and undecided than for some
time. For week the bulls had been carrying
prices up continuously, having everything their
own way nor was there any the less evidence
Of strength this morning. The situation had
changed however, In this respect that while
there was little selling and no important bear
pressure, there lack of new buying orders
New orders to buy We're in hand, but they were
largely waiting orders from bulls who thought
the wheat good enough 10 buy on the outlook, but
figured on reaction first, and so placed orders to
buy on break. September wheat was 14Sc III
the first trade and considerable was sold with
out efecting a serious break. Finally the mar
ket weakened to 735sc. but here the waiting sup
port began to show and prompt recovery was
made to 74h @74Ac. July wheat opened at S3c
the same figure heard on the curb late Saturday.
dip to S23sc with recovery to 72esc marked the
price range In the early trading.
Over the northwest there were no good rains.
the situation with respect to spring wheat stand
ing practically unchanged from Saturday. Inc
country the whole had throro soaking, out
the dry districts in North and South Dakota were
passed with sprinkle. Rains are predicted for
Tuesday portions of the territory, when
may mean entire relief II heavy enough 10 Keep
the vegetation from following until the good
rains do
Foreign markets were easy and low, showing
no disposition to follow on our closing hurry OF
Saturday. Broomhau cabled that worlds snip
ments we're larger than had been expected and
the estimate of the American wheat crop by the
Commercial West of Minneapolis caused an easy
undertone to the wheat market this morning.
Opening prices were unchanged but later de-
cline of Nd occurred, support being given TO
prices Corn opened unchanged but later the
market eased off Nc on the heavy shipments TO
Liverpool and continued liquidation oy 1ongs'
Paris weather fine and mild; Berlin cloudy.
Total worlds shipments Of breadstuffs during
the past week were 10, S44 900 against ll,oo9,oOo
the previous week and 7,416,0OO year ago. VI
this quantity the United Kingdom took the past
A hn inst AZ
week 1854, 900 a year ago. Corn shipments
the past week were 4,759. 900 bu against $685.
600 the previous week and 100000 a year ago.
American primary markets received 469,oOO ou
against $4,000 last year, and shipped ooo'ooo
against 353 900. Minneapolis received 32' cars
against 4O3 last year and Duluth o. against l.
The quantity Of breadstufs on passage at oo'oio''
600 bu shows decrease of 2, 136, 900 bu.
The Rock Island report makes wheat anu
oats along the line favorable but noted very
backward corn condition. The official brusslan
report makes wheat e against 80 last year, ana
rye IS against 81 last year.
The visible supply decreased l,o44,ooo nu'
which brings the total down to lS,4oo,ooo Du' tne
lowest in about five years
Rains at St. Louis were reported AFTER noon'
md this sent the market up In tWlnknns'
July going back again to S3c and past IT TO a
new high point at $3.50, while September spurt-
ed to 75hc July closed at 727sc, and Septem-
Saturday, at 1914 @73ssc. while on July the net
gain over Saturday was Bc, and on September
1h@13sc. ,s
The cash market extremely active ana
strong on all grades. For the NO. L northern
S4Kc was the figure the bulk. ~.