The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-07
Heavy Selling Fails to Put septem-
Der Under 8O1ac-The
Close S07sc.
Many Other Bear Features All
of Which Fail Of
Effect.
Ninety Cents for No. l Northern in
the Cash Market-News of
the Day.

Minneapolis Chamber of Commerce,
Aug. Wheat had to stand against some
very bearish influences this morning,
and it stood up we'll, everything consd-
cred. September was SG&c on the open
Ing trade which was 5sc down from yes
terday's close and A@Bc down from yes
terday's high point The market hest
tated, as was quite natural 1t was rather,
hard matter to stir up much new buy
ing interest in the face Of better crop re-
ports from abroad, weak foreign markets,
good weather over the west and other
factors of nature to cause bearishness
ordinarily. But while the effect OF the
bear news was to hold the market In
check, there was nothing important
enough to change sentiment materially.
Selling out of long lines by holders who
had profits in sight, caused a sagging from
s11ac to sO1ac for September, but the
market even on decline showed great
resiliency and on every drive of NC would
bound back as soon as the pressure was
off. Interest still centers in the forth
coming Jones report, and to such an ex-
tent has it increased that it is not un-
likely the market up to the time OF re-
ceipt Of 1t may fall into comparative dull
ness, as many are inclined to stay close
to shore until it Is out Of the way. The
following bulletin from the Commercial
West was issued this morning:
1.-THE wheat harvest is in progress up
SOAANAA-~
kota farms began cutting this morning
Some northern counties are further ad-
vanced in the ripening OF grain than
counties in the central district. North
Dakota upper counties have had light
frost that touched flax a little, but appar-
emily did not injure wheat.
1.-THE Comm ercial West will announce
it's annual estimate Of northwest wheat
yield, Monday, Aug. 10, at II a. m. At
this writing no totals have been compiled.
and the work will not be completed before
Saturday evening; hence no attention need
be paid to rumors. for positively no figures
will be given to any individual or firm in
advance Of Issuance. This statement is
made because two totals have already
been announced as the Jones report, these
totals being 100000 apart, and neither
Of which will be used by this paper
Minneapolis received 121 cars, against
SO. and Duluth 8 against 20. Kansas City
had 1876 against 208, Chicago 1875 against
219, and st. Louis $4,000 bu against $780,
900 bu. The foreign markets were weak
err, Liverpool closing only Ad higher In the
face Of all our strength of yesterday
Paris was off 35 to As confines. which
was probably due to the good harvesting
weather now ruling there. Broomhal
cables that Russian stocks Of wheat are
d very small, those at Rostoff on the Dor
= being absolutely exhausted. One month
ago there We're 100000 bu at the port men
eastern Europe at principal points OF
July 1, amounted to $4,000 bu, agains
8,44o,O0O bu June 1, and 3,352,Ooo blu Jul.
1, 1902. .....
d, The weather map shows skies general,
clear in the northwest, and with three ex
ceptions generally clear west and else
where. Rain at Dodge City, Valentin
and Oklahoma City. Temperatures high
err, conditions desirable, fine for north
west harvesting and not unfavorable any
where.
The Modern Miller says: Good yiel
both in quantity and quality is shown b,
the threshng returns of hard winte
wheat including all the territories tina
raise that kind Of grain, Oklahoma, Kan
sas and Nebraska. The movement Is lib
eral and mainly to local and northwestern
spring wheat mills. Soft winter whea
moving slowly from farmers hands
Flowing for fall seeding of winter whea
Is progressing and the indications are TO
an increase in the acreage, with favorabl
weather.
/ The market closed firm and steady q
S0Bc for September.
In the cash market the highest price
yet touched on the crop were recorded
and old No. / northern Of good qualit
was salable at 90c.