The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-19
Wheat Jumps Around in Lively
Fashion-A Picnic for the
Pit scalpers.
September Opens S21sc, Strikes
$3.50, Falls to SIC, and
Closes at $3.50.
Export Business Fair-Weather Also
Fair and More Fair Weather
Predicted

Minneapolis Chamber Of Commerce,
Aug. 2O.-An ideal market for the scalp
ers, such was the speculative wheat this
morning. By quick changes and on ac-
tive trading, September bobbed around
over a range of 1Ac, and holding nowhere
steady even for moment, was quotably
changed on every trade. From 821ac the
opening figure, the jump to $3.50 was
quick The break to S3c was even quick
err Then $3.50 was struck on sudden
squirt, and straight drop OF lie put 1t
to s2Ac in twinkling. 1t was pit
traders market almost exclusively. BY
noon the scalpers had September sold
down to S2bc.
Fine weather was shown on the map
and in the northwestern reports, and the
prediction is for fair weather tonight and
Tuesday. The showing for primary re-
ceipts, for the first time on the crop ran
heavier than on the corresponding day
last year and this was the cause Of much
selling but many overlooked the fact that
the figures were for two days at kansas
City, and that the GAG cars in that market
against 146, was for two days this year
against one day last year. This made the
total 121O,0OO bushels against 100000.
minneapolis had 219 cars against 1888 and
Duluth / against II. Chicago had only
76 cars against 470, and st. Louis only
eO, 900 bushels against $4,000 bushels.
Local stocks have decreased 100000 BUSH
els so far Clearances wheat and flour.
1862, 900 bushels
Considerable talk was heard around the
floor of the probability of the holding back
of new wheat by the farmers. There IS
admittedly a disposition this year to hold
back, more marked in the northwest than
Elsewhere. But the trade on the Whole
thinks this will be offset In full by many
other factors, not the least OF which Is
the present high prices for cash wheat as
if1ln
year.
Liverpool closed 3s@1d lower.
. Twenty four loads for export were re-
ported in the early business.
The weather shows perfect harvest con-
ditions in the northwest. There Is clear
weather wherever spring wheat Is being
harvested. There is practically no rain
ANYWHERE. only a shower at Dodge and
a. trace or two at other points. Condi-
lions, all things considered, were never
better There is a slight drop in the tenn
perature In the northwest, but In the
south and southwest theStemperatures are
about seasonable. ...
Snow, who is travelling thru the north
p west wired: From the Red River Valley
to Grafton spring wheat oil cut; from
Grafton and to the boundary about hall
cut. Weather perfect. The yield, con
sidering the area, is rather above Tine
expectation
The strongest item Of the day came p5
cable from Broomhall. who said:
More rain has fallen In England ant
the weather in France and Germany con
tinues unreasonable. The prospects OF TIT
European corn crop are becoming less Ia
yorabIe The wheat and corn futures ar
affected by American advices. There Il
no cause for the wheat depression ant
prices are likely to improve unless Amer1
can markets continue to decline" ..
Near the close the market turned VI
sharply on covering. A more errat1c mar
ket has not been seen for long time
September climbed from SIC to 83Bc, AM
closed at S31kc, with sentiment very mucl
mixed at the close.
The cash market was active, weake
and lower. No. 1 hard sold at 94hc.' Nc
northern sold from 94c to 93c. No.
sp,d 1 en1a S sresly from un s2@ssac