The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-10
This Heavier Run, Better Weather,
and Many Other Items Were
Depressing.
The Market Holds Well at First, but
Sells Lower Near the
Close.
The Government Report Due This
Afternoon Expected to Be
Bearish.

Minneapolis Chamber Of Commerce, Sept. TO-
heavy load was piled upon the wheat market
til simornins and the bears pounded the Decem-
Der option at the opening. One by the
weights were thtown on until the price wavered
under the pressure, but with 1t all it
hard matter to weaken prices in any important
degree, and TO IL O'Clock the tone was firm, and
the range of yesterday we'll maintained In all
options. First came the showing of better wealth
or over the spring wheat districts and the reports
that threshinga will be resumed short
ly In many Of the districts where
work has been seriously delayed. Then
the Price Current report on corn rather bear
ISM no frosts were shown where frosts had
peen predicted, and most bearish of all the esti-
mated cars on track In the Minneapolis yarcs
at the opening were 79s Later this was reduced
as 69S cars were actually In, which was a big
showing alongside Of 240 the correspond
ing day last year. Other points showed no such
gain as Minneapolis, yet receipts everywhere We're
relatively better than of late, and encouraging
TO the bears who figuring upon a free move
ment from this, time Duluth had lis cars
against l66; Chicago Isl against 1884, Kansas
City had 90 against no and st. Louis 1872, 600 BIZ
against 100000 blu. Clearances disappoint-
1ngly light. only 40, 900 bu being reported In all.
The Chicago Daily Trade Bulletin has out
some hgures on the worlds supply. The total
available supply Sept. 1. is placed at 1903 S37 OOU
bu, which is an increase Of II. ST. 900 bu during
the month of August, and compares with an IN
crease of S,311, 900 bu In August last year. Amer
lean stocks are now Il. 205 900 bu less than last
year, While in Europe the increase is TO- $50 900
ou. Argentine stocks are 1,S13,OOO bu larger
than last year. For the total stocks OF wheat
IN all positions the world the Bulletin makes
the figures Sept. l 1O3, S37 900 bu against 1885,
4ss,Ooo bu, so that there is now actual differ
ence Of only 1853 900 bu in worlds stocks Sept
i, MS compared with Sept. year ago.
The one grent help to the bulls the
weather west and southwest While the frosts
predicted for last night failed to come, the
skies were overcast and rains threatened. while
last night the states Of Missouri Illinois, Iowa
and parts of the Ohio valley had heavy rainfall
At Kansas City this amounted to no less than
az inches, bad showing for corn, which the
corn experts say must have hot, forcing weather
soon If 1t 1s to pass the danger point before
frosts strike It.
Primary receipts were 100000 bu against
100000. and shipments 1884 900 against $40, 0O0
The Pacific coast Is sending some interesting
items about the grain supply and milling situa-
tion Of which the following from Seattle to Logan
is fair sample: ''In fourteen years wheat was
never so thoroly cleaned out here it last
season. Harvest Is about month late this
year and many mills have large contracts for
September delivery. The reEult is the mills are
fighting each other for wheat mad are forcing
the price up far beyond figure at which milling
will be profitable"
Last year by Sept. L." said Mortit7 Thomp-
purchased 900. 900 bn of blue-s This year
at the same time had but fraction Of that
amount. Last year I paid CSC, this year as
high as S71ac and Ssc has been paid at coast ter
m1nals. The buyers cleaned out everything last
season. Lots of the wheat bought sold
at advanced prices rather than mill it. So far
this year OF the large companies have
bought less wheat than they used to buy each day
last season."
The government report to come this afternoon
was the cause Of some selling near the close
as Chicago wired that 1t is expected to be
bearish. September wheat closed at SIC. Decen
Der at s0GS0kc and May Mt S2asc.
The cash demand was not quite so good to-day
on the less desirable grades, and some low grade
wheat was carried over. No. l northern sole
range of S4Hc to S5Ac and No. from
S2Kc to S3Ac.