The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-16
September Breaks Ago, From 9114c
to 87c and the Other Options
Weaker as Well.
The Frost Damage News Finally
Comes, but the Market Had
Discounted It.
Foreigners Are Bearish and This
Affects Chicago-Colder
Weather Tonight.

Minneapolis Chamber of Commerce, Sept, IT.
The long expected bull news broke upon the
wheat market this morning, and simuilaneo sss
the market broke. The long predicted frosl
damage reports fell into the pit and instantly
the bears fell upon the wheat and hammered II
down all around. September had opened rs up
at 01Nc and when 1t came to selling Httle III
the early trades 1T dropped quickly to SIC loss
Of 41Sc. December dropped from S2ssc to 81 " q
s1Mc and May sold at S37sc and then broke 10
Sac 1t was the old story of bull news long anti
cipated. discounted to the full ana poweriess W
sustain the market when finally received. ~ Al
Iowa and pretty well thru Nebraska there
were frosts How heavy they We're was uncer-
tain when the market opened. At many points
the thermometer was low and had been lower
during the night. but atmospheric conditions We're
such to protect the country against frost IN
many districts where the corn was nearest the
danger point. The northwest situation Is ad-
lnittedly improved. At least the worst would
appear to have been done. Clear and cooler
weather is the prediction for tonight and Thurs
day. This is rather favorable now Tor the
northwest and much better than would be q
sudden clearing up, warm and too sunny sun
the very thing that makes the promise a Nttie
more favorable for the ultimate resumption or
threshing In the northwest, makes the corn posi-
tion more ticklsh. for while the low temperatures
could not bring on general Killing hposI Is VIII VIII
readily occur with a repetition OF last nlght
low thermometer readings under clear skies The
trade hesitated on the uncertainty of the out
look all options meanwhile turning somewhat
firmer and recovering early losses In part, tne
September selling up again to 9oc September Is
n
lator Of the flercer sort looking for great action
and great chances Trades in the option are few
lots or the bidding for little jag may mean
two or three cent shift in price. Most traders
are onlookers in September and Will not touch
1t themselves either way.
Minneapolis received 400 cars against 375, and
Duluth 26s against CAS-. Chicago had 90 cars
against 421. Kansas City POI against 49, and
receipts were 1,175,o0O bu against 1,4b3. 900 bu
last year and shipments 414O0o against 6OS,ooo.
Wheat and Gour clearar4ces, 264 900 bu;
The great bear pressure on the market comes
from Chicago traders, who are bearish and who
draw their benrishness from the foreigners.
vance yesterday. The liverpool Indifference is
due, the trade has long been told to the cheaper
Russian wheat coming upon the Liverpool mar
heavy Russian and Danubian shipments shown
Iii the reports of Monday. The trade has been
trying to get line on the Argentine crop out
look Broomhall cabled some time ago tnat the
Argentine acreage in wheat would be larger this
season. The Northwestern Miller has direct Ar
gentine advices that are confrmatory OF this
and place the increased acreage at about w per
cent.
Minneapolis stocks have increased about Az, 900
The forecast is as follows: Kansas, cloudy
with frost; Thursday cloudy, continued cold
Illinois, Indiana, Missouri. cloudy; colder to.
night with frost. Iowa, Minnesota, fair; frost
tonight Nebraska, Dakotas. continued sold
with frost; slightly warmer tomorrow: Mieh1-
gan, collier: frost Wisconsin. fair with frost
The indications are for cloudy and colder
weather over the central valleys tonight, and
continued cold with more less cloudiness In
Missouri valley and west. Frost will be quite
general tonight far east as Indiana and south
over Kansas and Missouri.
Bradstreet's figures out worlds wheat v1sl-
BILE increase of 5000, 900 bu H,. =
Omaha wired that State Commissioner Rust
says rs per cent of the Nebraska corn was out
IF the way of frost damage.
The market recovered in part near the close
but no advance could be maintained and closing
figures were low points. September closed
ut ssMc, December at S11as, and May atS3@
s3lsc. ...-
The cash market was active and firm No.
northern had a wide range in line with the I'M
settled option and sold from DOC to 921ac. No.
northern sold from Soc to SIC for the average.