The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-26
September Wheat Ranges From
7e1ac to 7szsc and July From
1890 to sezsc.
Rains Around Winnipeg, but Moth
ing Worth Noting Over the
Two Dakotas.
Jones Reduces His Estimate Of 74O,-
100000 for the Total Crop
to 725, 100000.

Minneapolis Chamber of Commerce. June rs
The setback in wheat which seemed impending
at the close yesterday came along on time ana
this morning September wheat, having SOLO
on the curb yesterday at 7S1ac was back down
to 1880 while July, having closed yesterday at
S65sc, was down to $3.50. 1t was very lore
for the break, which was 4 sc in September and
11ac in July from closing prices, was on selling
out due to a report of rain at Winnipeg: NO
rain Of Importance fell the northwest, the
barometer was high and the prediction was for
fair weather tonight and Saturday. So far as
the weather here, the prediction and the raln1aii
everything to indicate continued dry weather
But the rain at Winnipeg enough to turn
the market little shaky; nor was there any
thing reassuring to holders in later reports OF
rains at Park Rapids and sprinkle around
Portal The crowd took this as indicating that
the rain was headed this way. The bulls were
on hand, especially local trader who was
led the bidding on the late upturns, and after
break of cent good support came out, some
of the traders already long adding to their lines
on the setback. With this there was the sup
port from the many little buying orders that
were in hard from outsiders who were willing
to take hold, but placed their orders to buy only
on a break. July recovered to 15&c and Sep
TENDER to 771sc, and here the two options held
while the traders waited to learn whether the
rains reported We're really heavy enough to be
called rains, or whether they were only In the
nature of the sprinkles that the country has
been getting at intervals for time.
The foreign markets showed more disposition
ed up at the close. Broomhall cabled that
shorts, covering the strength In American
markets yesterday, caused a firm opening, with
quotations sd higher A further slight gain
of I'D was made later, but the market lacked
support the trade there does not believe the
American crop has been damaged to the extent
reported. AS q result Of the easier, feeling,
September declined sd by 1870 p. M
Liverpool opened quiet with prices IT,
higher, being affected by the advance in wheat.
Early in the session both deliveries eased of
I'D on selling for outsiders, but later the offer
ings became smaller and the market turned
steady, July advancing I'D and September sd.
Paris-Weather very fine and hot.
Berlin-Fine. ? 81 .''-.
The Modern Miller says threshing returns from
the southern sections of Missouri, Illinois and
Indiana indicate a yield considerably smaller
than that of 1902. in which year these states
raised crops above an average. In the south
the crop is welding better than last year, and
in the southwest the harvest the general pros
poets also indicate a crop in excess of last
years. The harvest is somewhat later than
usual and the movement Is not expected to show
any volume until well in July - 80
The Commercial West will announce Saturday
a reduction of its estimate for the maximum
yield of wheat III the United States from 74O,-
ooo 600 bu to 1850 900, the reduction of 15,
100000 bu being taken from the prospective
yields of Missouri, Illinois, Indiana and Ken
lucky. The appOrtiOnment of POO, 600, 900 bu for
three northwest states is left unchanged on the
theory that it is too early to estimate spring
yield. This total Is the average of a possible
yield June l, ranging from 175,0OO,0Oo bu to
225, 00O 600 bu.
Minneapolis received IT'S cars against 245, and
Duluth 81 against %. At primary points re-
ceipts We're 800, 600 bu against 9,0OO and ship
ments 49, 900 against 172. 900. Wheat and -four
clearances eQualed 246, 900 bu. - ,. --..s ..
s The market turned very strong toward noon
and high figure made in the Sep
TENDER option, which sold to 7SBc. closing at
1890. July having dropped to 74Ac the
early break. worked up steadily to $685. clos
ing at seize. g5z,..-7 .ft
The cash market active. but lighter re-
ceipts had some effect to hold down trade. No.
4 northern sold from SIC to SSc p .s- -