The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-05
Prices Moved Up Slightly To-day on
New Buying in Chicago and
St. Louis.
The Worlds Visible Decreased by
$4,000 Blu. Some Wheat
Sold to Italy.
St. Louis Had Damage Reports From
Some Winter Wheat
Districts.

minneapolis Chamber Of Commerce. May g.
st Louis led the way to-day in an early ad-
vince in wheat and all other markets came into
line promptly. There was squirt and sharp
advances but rather a steady frming up all
around. July wheat 75@7 51sc. to start, but
sold at 75ts @75sics after hour. st. Louis
wired that the news coming in there from the
wheat fields was less favorable. Nothing sensa
ttonal was received hut all the reports were
little OFT compared with those received re-
Gently and the trade took it to mean that there
was damage. which If not severe was at least
extended over wider area than had been sup
posed. Chicago reported that it evil
dent that there was general dumping of wheat
yesterday by local bulls. who will stand but lit
tie punishment. Nothing was in sight this
nfng to encourage buying, and the opening ten
dency was toward lower prices. But the foreign
situation appears bulsh and many believe it
will prove profitable to buy wheat ON soft spots
The pressure Of short sales will probably be on
the September option for time to come.
Corn receipts are liberal and grading much i'm
proved. The foreign markets we're Indifferent and
4 Liverpool little lower. Broomha1l
tr1bnted- this to the more favorable Russian
weather. The report Of shipments from India.
delayed yesterday. came in this morning, showing
5oo,po0 bu. which raises 'the worlds shipments
for last week to '9.0SS.0O bu. India wheat
arriving in Liverpool far has been Of good
quality. a...~
covering conditions. in California. The situation
there is unfavorable. Rain is needed and needed
soon. AT the time conditions by
mo- means alarming, and 1t is not yet too late
for entire relief if rains come
Ten loads Of wheat sold late yesterday
to 20 to Italy. This morning the New York
exporters reported further inquiry from Italy and
good prospect for more business.
Local wheat stocks have decreased only q, 900
bu so far on the week This is not surprising
in view of the large quantity recently drawn out
OF local terminal stocks; and the heavy winter
wheat receipts. 1t was not thought much more
& wheat would come out of local elevators for at
least day or two longer as so much was taken
out around the first of the month. Yet IS cars
here
yesterday of 300 1926 contained winter
wheat.
Liverpool closed asalS<d lower.
Primary points. received $4,000 bu against
271,O00. and shipped 10000 bu against $4,000.
Minneapolis received 40 against 81 and
Duluth Is against IS. Wheat and flour clear
ances, 900 tbu .0E'
The Bradstreet report of the visible change
shows decrease Of 5,1lO,OOO bu. East of the
Rockies the decrease is s,51o.ooo bu and the
quantity in Europe and ahoat fell off by 1000
z QUO bu. ~ .l.. -+
The Chicago Trade Bulletin will say to-day: OF
IFS replies received Of the condition of winter
wheat In the last four days-93 report no dam
age; q slight damage; one per cent damage.
two 10 per cent damage two Is per cent: six
r per cent. two 25 per cent, one so per cent.
These cover the winter wheat, states.
The Sprinfield Illinois crop summary says:
Wheat made little Improvement during the week.
has deterorated some Fields turning yellow and
complaints made of chinch bugs. Weather has
In ground. Season has been unfavorable for
termination plant coming up ynelenly and
showing poor stand in many localities Con
siderablv resolving necessary and acreage Will
show decrease. Flowing for corn has been ac-
lively prosecuted and some planting done in
central and southern districts.
eign conditions: ttI ty e,eesfss
Y United Kingdom--Crops continue favorable
. France--No decided improvement in crops re-
ported and only in some districts in the country
are conditions really good; warm and favorable
weather is required from q
Germany-Weat Their now favorable for all crops
but the earlier damage is becoming more ap.
parent. $50 =
Russia-Droughty conditions are reported in
some important districts southeast and east
Elsewhere the weather is favorable for cros
to make progress.
Roumania-During the past week all grains
have made favorable progress .t :
Bulgaria-Reports favorable
The market closed firm, July at 1880 and
There was fair demand for cash wheat.