The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-30
Wheat Holds Firm Thru the Session
but Sells Off Finally for All
Options.
Rainy Weather, More Of It Pre-
dicted and Lighter Receipts
than Expected.
Local Stocks Increased by 10000
Bushels and the Cash Market
Is Draggy.

Minneapolis Chamber Of Commerce, Sept. 10
Rain over the northwest was the uncertain item
the the fan
and Missouri had rains last night, but they We're
not heavy enough, as shown on the map, to De
considered detrimental to the movement. Hence
there was no bull effect in them, but there was
the prediction of more rain to como tonight and
Thursday. This was not reassuring to the bears.
Traders found little new business and little In
centive to trade on any ground and so the
market held extremely quiet for half the SEES
sion, December selling at 7ec and to 76Ac, May
holding around 77h@77%c. and September
was bearish on corn, and the crop Is said to have
advanced noticeably during the week and to
have been greatly benefited In many ways 50
that the outlook now, compared with that Of
week ago, is materially improved. Another bear
item was the continued indifference of the for
eign buyer. The dull and rather easy cables
were not .encouraging and still another bear
help was the steady increase In local stocks,
which so far this week have gained 10000 blu.
In the active movement Of wheat, however,
there was showing favorable to strength. Min
neapolis had an increase with 44s cars, against
1885, but Duluth had 361 against S24, and Chi
cago only A against s51, making s5e for the
three markets against 1870 last year. In the
southwest the movement not heavy. altho
little above last year. Kansas City receiving
172 cars against 100, and st. Louis 10000 bu
against 79, 900 bu.
liverpool closed I'd lower.
The Dow Jones news agency had out short
summary of the outlook for export trade, which,
primarily stock market report was also read
with interest by the grain trade. In this report
the decline in the export movement in wheat and
-four this year compared with last Is attributed
to the fact that the crops were late this year.
The general position indicates heavy shipments
abroad during the autumn and winter months.
The consumption Of wheat was never larger than
In the last crop year, and Europe increased in
the proportion of other countries. The wheat
crop OF Europe is short this year and tho yield
of rye is also small, which indicates an in
crease In the requirements from the surplus
countries. If European consumption is as large
every bushsl Of wheat this country can send
abroad.
Primary receipts, LII. 900 bu, against 1,152-
600 bu and shipments, 534 900 bu against Dos, 900
bu.. Wheat and -four clearances, with Galveston
to hear FROM totals 100000 bu.
Near the close the total clearances figures of
wheat and hour were changed to read III, 900 bu
instead Of 100000 bu. The market eased of on
selling. September in Chicago jumped up to
&c. but Minneapolis September was of from
soc to &c.,. The close was weak all around
December 1871 @75%c, May, 77@771Ae, and
September, S4c
Sellers experienced another satisfactory day
In the cash wheat market. Prices were about
steady with yesterday on the good lots, but
easier on the poor lots and some of the off
grade. stuff sold low. For No. northern the
price was 1914 @soc for the bulk No. 2 northern
selling at 75c for much of the best, and down to
73c for poor lots