The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-20
This Weakens Sentiment in Both
Cash Wheat and in the
Futures.
September Sticks at SIC and Turns
Stubborn Against Further
Decline.
Primary Receipts Larger Many
Waiting for Break to Buy
the September.

Minneapolis Chamber of Commerce. Aug.
2O.-Wheat lost 11sc this morning on very
moderate selling and September was down
to $40 in short order. This against yes
terday's close at 1875 @S31sc. There was
everything in sight on which to bear wheat
and nothing to bull it on. The weather
was ideal. Better conditions could not
have been asked than were indicated in
the reports, as shown on the weather
map. and good weather is predicted for
tonight and Friday. In Chicago, Armours
representative offered little wheat, said
to be only for effect. The effect was
shown at once. Sentiment was weakened.
There was no evidence of heavy short
selling, or Of any attempt here at pound
ing. A few sold out their long wheat and
the market fell off thru lack of support
There were enough people around in the
offices near the chamber who are bulls to
have stopped the decline. But these were
largely of the class who were long on
wheat on the former rise and who took
their profits. They are still believers in
higher prices and waiting to get in again,
but could see no reason for buying now,
with the weather favoring the bears. In
stead of taking hold they held atoof or
placed waiting orders to buy on a further
break. On every sale Of a moderate sized
lot the market sagged lower.
Kansas City got more wheat to-day,
nearly twice as much as last year, or 200
cars, against 1O1 last year. This was the
bear item Of the day. st. Louis received
$4,000 blu, against 147, 900 bu. Minneapolis
had 1876 cars, against 1873, and Duluth 3
cars. against cars. Chicago got LA cars,
against 3O3 cars. Primary receipts totaled
$4,000 bu, against $40. 900 bu, and ship
ments, 900 bu against 603, 900 blu. Lo-
cal stocks have lost 100000 bu so far.
OF wheat clearances there were none but
flour clearances were 80. 290 barrels.
There was no rain anywhere in the
spring wheat area. Temperatures were
higher and there Is the prospect Of con-
tinued fair weather. The conditions could
mot be nearer perfect for harvesting.
Thru the southwest and west the weather
is clear and warmer. The southwest
again has ideal conditions for movement.
The conditions are improving for corn,
higher temperatures with a few rains in
the Ohio valley where they are needed.
!, The Price Current says: Ample moisture
Improving corn moderately except in the
Ohio valley. No ESSENTIAL change in oats
or In wheat. Heads Of spring wheat mostly
well filed. Total wheat estimated, &c.
900, 900. same as last year,
Tho Northwestern Miller makes the
wheat crop of the three northwestern
states 1893, 7e2, 900 bushels and makes the
yield per acre in Minnesota Is bushels,
In South Dakota IS bushels, and In North
Dakota II bushels.
Fifteen loads were reported sold for
export.
Near the close Neche, N D., wired that
showers were interfering with harvesting
around that point, and that some grain
In shock Is Smelling badly. Other points
reported rains. st. Louis had good floul
sales. September closed at 1925 @82Ac g
full cent down from yesterday.
The cash wheat market was active
tho weaker. Old No. northern sold from
93c to 90c and new No | northarr uan1
at s4Ac and s4Ac to arrive. The price
range on No. northern was very wide
showing Gle to s5c on the old and s3c tt
82%c on the new to arrive.