The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-15
SHARP DECLINE IN WHEAT And FREE SELLING
May Breaks from S134c to 805sc and
Closes Weak Selling in All
Markets.
The Argentine Weather Is Still Bad
According to More Detailed
g*s Reports.
Export Business Reported Near the
Close, but Too Late to Help
~ - IS: o..
the Market

Minneapolis Chamber of Commerce, Dec.
15--Lack of trade and general indifference
caused a setback in wheat prices in the
early part of this mornings session, May
going from S1$4c to. S1Ac.- Nowhere was
there any important trade. The news was
buliish in the main and OF a nature to
cause an ADVANCE ordinarily, but not
enough new orders came in the pit to
start any upturn.t After several days of
alternate good and bad reports from Ar
gentine, and much conflicting news as to
conditions there more complete and
authoritative summary than any yet re-
ceived came along this morning. In the
province of Santa Fe the weather has
been rainy for several days and the har-
vestng is being interfered with. Around
Bahia Blanca, which is in the southern
part of the province of BuenOs Aires,
there have been frosts. The country, in
fact. was just about getting we'll into
harvesting when the weather turned I'M.
favorable, and it was still unfavOrable
over a wide extent of territory up to last
advices. It is not to be supposed. how
ever that any material damage has been
done. Reports do not indicate this. Liver
pool remains unchanged and other Euro
pean markets Indifferent.
Receipts here this morning were still
lighter at $50 cars, against 498, but other
points had larger totals. Duluth got 80
cars against 81, Chicago 1T against o.
Kansas City 2SS,00 bushels against 80 900,
and st. Louis 12S,000 against $4,000. Lo-
cal stocks have increased by 100000 BUSH
els so far on the week. The forecast IS
for milder weather tonight.
Broomhall's weekly crop summary reads
follows: United Kingdom-The wealth
er the past week has been too wet.
France, Germany, Italy and Hungary
Crop conditions the past week have been
generally satisfactory. Russia and Spain
The situation remains unchanged, more
moisture being required. India-The pros
poets at present continue most favorable.
but much will depend upon the winter
rains. Argentine--To- days cables report
the weather little more favorable. Ru-
mania-The unsatisfactory condition OF
the crop. owing to the lack Of moisture.
is now Improving Russia-With the eX-
ception of the southwest, conditions are
generally satisfactory.
Primary receipts were 100000 bushels
against 951, OO0 and shipments were 225 ZOO
against 1875, 900. Clearances, AS, 900 bush
els. The worlds visible supply increased
1855, 900 bushels, Of which 1,0S600 bush
els are east of the Rockies and $780, 00l
bushels in Europe and af1oat.
The market broke at noon and continued
on decline until May touched S05sc. May
closed at S034 0S0Bc. July sold to S0A q
S93sc and closed at S0asc
Near the close twenty eight loads Were
reported taken for direct export from Chi
cago. but the news came too late to hell
the market.
Cash wheat was sold. out principally OF
! the early option and prices ranged almos
a cent higher than the nominal price
near the close No. 1 sold from S15sc t
S2Ac and No. from 791@c to soc for tn
bulk