The Minneapolis journal., 1903-04-15
Good Buying in Chicago Helped
r. Along by Rumors of Dam
49, mage to Crops.
The Most of Which Lack Verifica-
tion-Broomhall Reports Rain
Relief in Russia.
Export Business Fair-Local Stocks
Have Decreased 100000
Blu. So Far.

Minneapolis Chamber of Commerce, April lo-
Wheat opened frmer aud sold higher this NOR
ming in the face of early crop news OF bearlsh
nature. Trade light. There was the
same disposition that has been shown for the
past ten days, to ignore everything else and
watch the Armour moves. 1t is stu an armour 'n
market entirely. The cables came up. Liver
pool opening SD higher, and Paris lo TO 10
centimes up, and this gave some encouragement.
There another light showing in northwestern
receipts. although the number of cars was above
the corresponding day last year. Broomhan
cabled very important MESSAGE, which was
ignored by the trade, to the effect that rains
have fallen and relieved the situation In Russia
The Liverpool market Broomhall 1ntimates,
takes its strength in good part from Chicago, as
English grain traders are no less afraid or Ar
manipula tion than are the American trad.
ers The Michigan state crop report Is out, and
the condition of the growing wheat Is equal to
81. while II per cent of old crop wheat remains
in farmers hands. There rise In the
temperature over Wild area In our own coun-
try. and the weather in general way Is very
favorable. Winnipeg wired down that condl-
tions there fine, seeding getting under way,
and in localities work Is already completed.
The weekly Washington governmental review
says conditions have been very favorable and
the growing crop is doing we'll. Broomhall
cabled later that the Liverpool exchange has
made Argentine wheat deliverable on contract.
Minneapolis May opened at 74ac. sold at
T4Isc and down to 745sc In this narrow range
it continued, and not until Chicago May sold
at 77Ac did Minneapolis May go to 75c. this
widening the spread to 2Ac.
A
in. Fowler of New York. wired that he had
a cable from Hamburg reporting damage from
frosts in Germany and northern France Liver
pool at the close, up $sm&d. and Paris
was up 1am11ac. Fifty loads reported
taken At New York with more business pending.
The estimate Of the decrease In Minneapolis
stocks for this week raised to 700,0 900 bu.
Primary points received 24o.0oo bu against
252 900 hu, and shipped 800 600 bu, against
2e7 900 bu. Minneapolis received 1o5 cars.
against So and Duluth % cars, against Is.
Wheat and -four clearances equaled $4,000 bu.
Broomhall cabled later that the opening prices
in wheat were lsd higher. and early In the
morning the market further advanced va and
1ad. the feature being the strength in America
yesterday. which caused general covering among
shorts. The advance checked the demand. how
ever. and prices remained unchanged at the high
point of the morning. Initial quotations In
corn Is higher for both deliveries being
= affected by the firm American cables. Later In
che session May shorts advanced that month SD.
the distant option continuing unchanged. A
fair spot demand feature of the strength
in May.
Good rains have occurred in southern Russia
aud the heavy storms have relieved the drought
in the southeast
Duluth reported 70 loads sold for export.
The market closed firm and active, may at
75B @75l4c; 0uly, I5lsc; September, 6sls "a
6S4c.
Wheat to arrive was in demand n the cash
Prices waere TIC to 77hc for No. northern.
and 761sc to 76hc for No. northern. The
spot No. 1 went at 7l4c to 77%c, and the
spot No. at 76Hc to 161ac. There was more
wheat on sale than yesterday. but by no means
enough to go around. and millers, after taking
to fill ont requirements. The top grades and
low grades sold we'll.