The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-28
Prices Open Higher, but Give Way
Again on Selling Near
the Close.
The Weather Bad and the Foreign
News Of a Very Strong
Nature.
But the Bears Predict 1000 Cars
Wheat in Minneapolis
on Monday.

Minneapolis Chamber of Commerce,
Aug. Bad weather again and more bull
reports in wheat, and the market stub
born as ever, advancing slowly and la
boriously and showing tendency to fall
back on any important selling. Such was
the speculative wheat market in the early
part Of to-day's session. September, hav-
ing closed yesterday at S21sc, was up to
S2Ac and December from yesterday 8
close at s0ac sold UP to size, but there
was continued pressure and the bulls
formed great difficulty in maintaining the
advance. Heavy rains fell over the entire
northwest st. Cloud, Casselton, Grand
Forks and Fargo were points reporting all
night rain, and Comstock sent the worst
report saying that the rain was continu-
Gus since p. m yesterday and 1t was
still raining this morning. Bismarck and
Moorhead sent early reports of heavy rain,
and 1t was raining or drizzling along the
Mississippi river all the way down to DAY.
export, Iowa. Traders watched the map
carefully and when the prediction for
showers tonight was posted turned firmer
again, but many sold on the forecast of
fair weather for Saturday. Meanwhile the
reports from the southwest were unfavor-
able and suggested at least some temper
airy curtailment Of the winter wheat
movement into Minneapolis, 1t was a bad
weather map in every particular.
Minneapolis receipts were again under
ildSl y edI, zoo CcIS dSdlIlSL oAO, ClO Du-
luth had Scars against %. Chicago got
LA against 230, Kansas City 1873 against
112 and ST. Louis again showed UP light
with only $1,000 bu against 1874, 000 Prt-
mary receipts totaled $4,000 blu against
$4,000 blu and shipments 189, 900 against
$685. 900 blu.
Minneapolis millers did a good business
In flour and some good orders were en-
tered for foreign account.
The weather IN Europe has turned bet
ter The effect Of the long period Of bad
weather abroad is now being shown in the
reports. Yesterday there was the report
that the farmers of central France had
lost heavily by the recent rains, one au
thority figuring the loss close to 10000, 900
bu. This morning Broomhan cabled his
estimate Of the wheat crop Of the United
Kingdom. It will be, he thinks. 10 per
cent under last year. The total last year
was about $1,000, 0OG bu, and for five years
the average has been So, SOB, 900 bu. Fol-
lowing this came a cable from Hamburg
on the German crop. Five or six weeks
ago, said the Hamburg cable, the crop
conditions in Germany were excellent, but
the heavy rains brought serious damage
and cut the total materially, which the
higher prices eventually. Argentine ship
ments this week were 1900 bu against
100000 last week and $780, 900 a year
ago. The new wheat crop of Argentine
is reported doing well so far, on an acre
age about 20 per cent larger than last
year. .... o..
The Modern Miller says that heavy rains
in Kansas and Nebraska have inflicted
serious damage to wheat where not
stacked, the greatest to the Nebraska
crop. No loss in quantity is reported but
a decided lowering of the grade. These
are somewhat larger offerings of hard
winter wheat, but soft winter wheat Is
still extremely small. Preparations for
the next crop are progressing. In the
southern regions the crop is seeded and
most of 1t up.
Wheat and -four clearances, 400, 900 bu.
Near the close the market repeated the
action of yesterday and sold down on
realizing. Many sold on the prediction of
better weather tomorrow, and near the
close there was talk around the floor that
! Monday next will see 1000 cars in Min
neapolis. September closed at low point
SIC, December oS0Ac and May S2Ac
The cash market was active with prices
firm and an excellent demand ruling for
all grades of wheat.