The Minneapolis journal., 1903-04-27
Wheat Gains a Fraction Early, but
Loses It Again Later in
the Session.
Opinions Are Apparently Veering
Around Little Towards
the Easy Side.
Not Much Bull Aggressiveness
The Statistics Favor
Strength.

Minneapolis Chamber of Commerce. April 27.-
wheat firm and active at the opening but but
week opened with the bears little more IN
clined to be aggressive. There was some pound,
ing after the opening business was over and
Chicago May sold from 77ss@!1sc to 4oase,.
Minneapolis May selling from 75$c to under
15c. valentine back in the pit on the
Chicago board, which gave the Armour toliow,
ing ncouragement, but he did little and failed
to land support, although Offering nothing LOT
sale himself. Kansas City sent message hint
ing at less favorable state OF affa1rs IN okla
homa but not much Importance was attached to
it; and, in fact. no damage to winter wheat was
claimed. Berlin reported unsettled weather IN
northern Germany and Paris. reported rainy rainy
have recently been some good sales of wheat to
consumers in Belgium and France, especially the
for continued good demand and gradually harden.
ing prices as the season draws on. LverpooI
was up sd on May and lsd on July, but the et,
feet of this was largely offset by Broomhali
cable that the advance was due not much to
bad news of any kind as to the fact that some me
of the shorts In May had become frishtened and
had bid up prices themselves in covering.
Worlds shipments for the week were lO,SOO,.
GOO bu against soss bu last week sirned aed
goo b nn Russia afs 600 bs the pappse
$4,000 bu. Argentine 1854 600 bu and India,
1000 bu. The quantity ahoat at 50, 664, 900
bu shows increase of 7i2ooo 100. bu nao -, .-
The visible decreased 1,7060 bu.
Minneapolis bad 26O cars, against 22o and
Duluth g. against So.
There Is disposition on the part OF tne large
houses to take more conservative position on
wheat now and for time they are likely to
stand rather noncommittal as to their views OF
the course Of prices for the near future; Some
of the bullish houses, while still inclined to
favor strength. are modifying their reviews
slightly. This is shown In the weekly Harris
Gates review which sizes mp the IS stuat,sn as
ports. and even more satisfactory increase IN the
bookings for future shipment. has been seen re-
feok in continental Europe, part}eularly IN Ger-
many and France. In addition to buying of cash
grain by the continent. there have been purchases
Belgium and Holland. Demand from the United
Kingdom has been checked somewhat for the
near shipments by the taking off Of the war duty
of 31ac per bu, effective July l. Nevertneless
English buyers are beginning to take hold of
distant months in moderate way because OF the
general anxiety regarding crop prospects on the
continent. The large holding of wheat by the
Armour Grain company, which the chief sus
tanning influence in the market less than fort
night ago, is now regarded as menace rathel
tempering their purchases somewhat because OF
1T. Our showing Of exports for the week Is
3.ss9,oo bu, against 2s7s.ooo bu the previou:
last year. Meanwhile crop prospects
are magnificent and there is every prospect tina
at the opening of the present month. Both thu
government and trade estimates agreed then tha
naon vas a efs na s
fully 100000 Meanwhile. also th
seeding In the northwest has progressed unde
very favorable conditions. and with indication
of an increase anywhere from 10 to 20 per cen
in the northwestern states and Manitoba, the sit
uation is full of uncertainty for the moment
Argentina continues to show more disposition
to sell corn than wheat Shipments of the lat
70 ter last week only 1854. 600 bu.
=. Primary receipts were 100000 bu. against 1862
10000 last year; shipments; $4,000 bu, agains
276.O00 bu. g.. -r--..:'t. .--rr.--. -
Broomhall's CABLE Wheat opened unchange
to I'D higher. but sharp advance of asd qu1ckl
II, Afov- y-iro fn
=. cover. due to the heavy decrease in weekl
!, stocks at this port and the light American shir
ments to Liverpool last week. At 1:3O Ma
wheat was @d and July I'D above. while new
form July sd below, and a furry anon
scared shorts caused a further net advance of ss
in May. the principal factor being the strengt
with which spot is held. The marke
had firm -undertone, July advancing I'd by tn
! 80 cable.
The local market closed firm at 747s @75c II
May July closed at 74A4 @747sc' and Septen
Der 6sacI ..se.s-gs, =. .ss-. !. srss4
The cash market was moderately weaker
general tone, but there was fair demand for a
ra6e