The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-27
sprinkles at Scattered Points and
Weekend Liquidation Cause
Break.
The Forecast Is for a Hot Sunday
Which Suggests Bull
Monday.
B. w. Snow, in Town, Says Spring
Wheat in Places Is on the
Danger Line.

Minneapolis Chamber Of Commerce, June a.
Wheat had to stand this morning against the
came pressure that brought the setback cary
The market was full cent lower at the open
ing, September starting at 7S3sc. AS the
trading progressed reports came In OF rains at
Grand Forks and Hillsboro, and OF cloudy skies
at many places How heavy the rains were or
how general was not known. and reports were
conflicting, but selling began on them and Sep
TENDER down to 76hc In short order. July
going to 74c. This put September 21Sc and July
i1ac down from yesterdays close. Considerable
new buying came in and rallied September back
to Tic, but 1t held the figure only a moment and
was weak again. The trade recognized the sit
uation and that good rains over Sunday, or no
rains and hot and dry weather over Sunday, Will
very likely make difference OF &c bushei IN
the opening figure on Monday morning. Even
after the 21sc decline for September 1t was
Thought soaking rain over Sunday would mean
further decline to start the week, yet the
weather may showed nothing to alarm holder
Of wheat for 1t was dry everywhere, aside from
the showers Of yesterday, and the forecast was
peratures meanwhile are rising and there was
the prospect Of a hot day to come. The fore
cast for the country at large was as follows:
Montana-Possibly showers tonight and Sunday.
Lower ENTHUSIASTICALLY fair In the north;
probably showers in the southern portion tonight
fair tonight and Sunday except possibly show
ers In theh eastern portion. Minnesota-Gener-
ally fair tonight and Sunday except possible
showers In the northeastern portion. North and
South Dakota, Nebraska and Kansas-Generallq
Commenting on the present market, the Com
mercial West of to-day says: when it is
taken into consideration that Europe will re-
Quire greater imports of wheat during the coming
crop year than the last crop; that supplies
everywhere less than year ago. and that
the OF Of the m w not not Pc y
one to believe that the price range during the
next crop year should be considerably higher than
lat Nth f{nn 81
wheat is steadily increasing, and this factor will
not be ignored by conservative traders and others
who are interested in the market.
of wheat should be higher basis than OF late
years, but large bear sentiment must be over
come first. The present advance. If not carried
to extreme, may have beneficial effect In
changing sentiment and prejudice
Primary receipts We're ere 3o4, 900 bu. against
100000, and shipments a6s,ooo bu, against s4o,-
900. Wheat and -four clearances equaled 245, 900
bu.
Nothing of Importance came from abroad and
little was thought of to-day aside from the dry
weather talk. Innumerable reports re-
ceived here. but none of them, were of any
special Importance. The uncertainty Of specula-
tive sentiment shown at the close, when
calls were selling freely and were offered at
7S1ac, but jumped later to 1885 on wire from
a san sn Forks het that It Looked like clearing
B. W Snow, the crop expert change.
having run down from the Canadian northwest.
From the Canadian line down, Mr.. Snow says,
the wheat looks well and shows no evidence of
any deterioration. Between Crookston and
Grand Forks there Is much acreage very dry,
and. while there is justihcatio for any fear
of damage yet. conservative view warrants the
statement that there are many spots so dry as
to be about up to the danger line, and in these
places actual deterioration is noticeable and dam.
age may be expected If a few days of dry hot
weather should come to start next week.
Minneapolis stocks decreased by 359, 1872 bu
this week. bringing the present total down to
5,27O03O
The cash wheat market showed the effect OF
the dip in the option and prices were lower ali
around.
The market closed at 1850 for September and
Sac for July. December closed at 75A @75%c.