The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-18
Minneapolis July Wheat Shoots Up
to sOssc While September Ad-
vances to 737sc.
Dry Weather and Revival of the Old
Gossip Of Cornerin July
Wheat.
Corn Continues on the Boom in
Chicago-All Markets
Firm.

Minneapolis Chamber of Commerce, June 49,
regular cid time bull market was on In wheat
and from the tap of the bell to noon the trading
In the local pit was on an ascending scale, Sep
TENDER to that time selling to 1915 @73Ac, July
touching SOasc. All markets were, on the rise
and the STARTS had hot for 1t In july,
that option opening at ,9ssc and going to SOssc
In few quick jumps There was lively bull
market in corn for the first inspiration and with
July corn in Chicago up to 81 &c there was SYM
pathetic strength enough In wheat to have
brought an advance for itself. Then the wheat
markets proper were strong. Some of the
winter wheat threshng returns In Tennessee and
the Ohio valley were hardly up to expectations
and while the harvesting over the southwest Is
going on very favorably the weather map showed
a low barometer Iowa, with the promise OF
rain and the accompanying suggestion OF a wet
harvest. Chicago had its talk of corner IN
corn and here III Minneapolis there was a re-
lvival of the old gossip Of corner In July
wheat. No one paid any attention to cables, sta
ltistics receipts Of wheat and such items NO
one in the pit cared about these things. while
the markets strong crop conditions in
our own country. To the north and west or
minneapolis there was practically no rain, but
showers predicted for tonight. The trade
has become keerly alive to the Possibilities ac-
,cOmpanying dry weather over spring wheat. out
side markets had heard the dry weather gossip
from the northwest and local houses had inquiries
early from ST. Louis, Chicago and New YORK
as to what the actual conditions are. To these
the replies that went out were In about this
tenor, that the northwest is all right and there
spring wheat is doing well. Still there Is Sec
ton Of country of considerable extent and I'M
portance that Is too dry. Rains would be OF
great benefit, but If they do not come for feY
days yet everything will still be all right. or
course II rains do not fall for q week damage
will be done and cry will so up that will no
doubt be a big influence the bull side. As to
whether the rain will fall not Is for every one
to guess for himself, but to go ahead now on
the assumption that spring wheat has had
set back would be to anticipate.
The Price Current says the week has been
favorable for growing winter wheat but late
correspondence indicates that shortcomings pre-
viously apprehended being realized. Corn
cultivation and planting is in rapid progress, but
the plant Is in slow growth and averages fully
two weeks late The early plant is In good
stand. Oats improved but the average re-
suits are not likely to be realized
Broomhall cabled Continued cool and unsea-
Honable weather in France is causing complaints
regarding wheat. The plant is entering the crit
ical period Of It's growth and warmer weather
is needed. Estimated Argentine shipments to
Europe are 16oOO 900 bu against 7o4, 900 last
year; this does not include non European ship
rnents. The total will likely be 100000 bu.
Corn shipments estimated at 1,2OO,OOO bu
against 16560o0 last year.
Primary points received 100000 Blu against
1884, 900, and shipped $4,000 against 10000.
MINNEAPOLIS received 1877 cars against 256, and
shipped 81 against u.
The market closed at S01h @soAc for July and
T3Ac for September.
The cash market was very active both for
SPOT wheat and for wheat to arrive.