The Minneapolis journal., 1903-04-01
: Bears Get Cautious-Local Stocks
Decreased 100000 Blu. So Far
This Week.
Receipts Here Light-The World S
Visible Decreased by 4,905, 900
Bushels. ~.~. -
Country Elevator Stocks Only 1,763,
900 Bushels the Lightest in
Many Years.

Minneapolis Chamber of Commerce. April L.
The same bearish influences of fine weather and
good crop prospects were at work again i'll wheat
this morning. The market, nevertheless, held
up fairly well against pressure and there was
and sold at 725sc to 72%c and to 721ac. but there
was material weakness Two or three things
came along to make the shorts hesitate. They
were the heavy decrease in the worlds visible,
the big decrease foreshadowed for Minneapolis
stocks this week. the moderate receipts here the
fact that seeding this spring is behind last year.
and some heavy trading on the curb in Chicago
after the close yesterday. The fact that the
northwest is behind last year i'll starting seed
ing indicates nothing. Last year the most
favorable in respects known, and
wet in many localities. but is drying up we'll,
and seeding will be under way. The
were ITO cars in. against 166 last year, and Du-
1uth had 13 against 1O2 Yesterday Minneapo-
lis got 254 cars, but the detailed inspection re-
port this morning shows that 12O' cars were win
ter wheat. At the time, 139
out of local elevators and the decrease in local
stocks so far this week is about 100000 bu.
The Bradstreets report, delayed from yesterday,
came along early this morning and showed de-
crease in the worlds visible supply of 4,905OOO
bu. The quantity east of the Rockies decreased
2105, 900 bu, and the quantity in England and
afoat, 2.300. 900 bu.
The disturbing factor in Chicago was the sell
ing on the curb yesterday after the close of
heavy line estimated at close to 4 200, 900 bu,
Nc under the market. This was Interpreted in
dozen different ways and had effect to increase
Wheat and -four cearances equaled 800. 900 bu.
Primary receipts were 1000 bu, against 49,,
900, and shipments 234 900 against 321 ,OOO The
last year figures for two days.
Broomhall, in the Liverpool Corn Trade News
of yesterday, gives the following summary Of
European conditions:
United Kingdom-The crops are doing well
and the outlook continues satisfactory.
France-Prospects generally favorable, al
though rain is wanted in some sections. Sup
plies of wheat in country markets are even
smaller very
firm result.
Russia-The weather during the past week
continued springlike and favorable for all crops
Port stocks of wheat are considerably reduced
owing to the recent heavy shipments but good
quantities are now arriving from the interior.
Roumania-Warm and springlike weather has
been experienced since report Of last week.
Rain is generally wanted. however.
Germany-Wintsr wheat is growing well under
favorable conditions The areas where wheat
= was winter-killed, which considerable in
some sections, are being reseeded
ltaly-The condition of wheat. on the whole,
Is satisfactory, but rain is still needed in the
north.
Spain-Since last report some rains have
occurred which provided sufficient moisture for
present needs.
India-The official crop report, just issued.
confirms previous statements that damage
, has occurred from drought. but the condition
of wheat on the whole is satisfactory, ranging
from IS to 1o5 in the chief provinces.
= To-day's report from Roumania less IA
vorable. Bucharest reports that the farmers
Of Roumania are greatly disturbed the dry
weather and unless rain comes very soon the
crop will be seriously damaged.
TO noon New York had sold twenty five loads
for export
Country elevator stocks decreased during
March by 2.s2t.000 bu. leaving only 1.763, ,OO(
bu. the lowest known for years. Total stocks
In Minneapolis. Duluth and country house show
S.3no.ooO bu less than on April last year.
New York raised the estimate of export bust
ness from 25 to IS loads.
The market closed strong at high point May
73kc: July. 1890: September, 67c.
The cash market not encouraging Il
sellers to-day. Demand the poorest fo
some time as millers not in the marke
except In q moderate way. Considerable whea
has been taken out of store here recently, ant
the tracks around the mills were so crowded
this morning to effect demand temporarily
No northern sold at &c May and No
z all the way from 1ac 1ato Ac over