The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-02
Market Opened More Than Cent
Above Fridays Close and
Kept Firm.
Russian Crops Much Damaged by
Drought in the Most Pro-
ductive Regions.
Visible Supply Shows Large De-
crease and Worlds Shipments
Increased Million Blu.

Minneapolis Chamber Of Commerce, June D.
Resumption of business this morning showed that
the grain trade was considerably affected by the
reports of the floods In Kansas Iowa and Ne
braska, and prepared to follow the lead of the
New York and st. Louis marketable only ex-
changes open yesterdsy-and put the prices OF
futures up in the same proportion In New York
yesterday July wheat clsoed 11sc higher than
eaturday. and September Ac higher. st.
Louis July closed 2MG2Ac higher than satur-
day and September was up csc.
Trade opened here this morning with July quot
cd at 7sc against 7e9s @7esc at the close
on Friday. aud September was traded at II &c.
compared with s9&c at Fridays close.
There were foreign cables except from Lon
don. which closed 4s9Ad higher.
Broomhall cabled that advices from Russia
say partial famine is feared in the provinces
OF Tsurfda and Caucasia, owing to recent
drought. These two provinces he says, raised
about one-ffth Of last years crop.
ALI interest Is conferred in the reports regard
ing the effect Of the foods on the growing
winter wheat and the delay In planting and
damage to corn and oats. The rise In these fu
lures. consequent to the very bad reports that
are received have had marked effect In sustain
ing the advanced wheat quotations.
The weather map showed rains practically ev-
erywhere except New York and the Pacific coast
and there can be doubt of the general feel
ing that it is too much. In the northwest, how
ever. there indication that the wet
weather coming to end, and no one ven
lures to say the spring wheat has suffered any
damage. .
Spencer OF st. Louis gave out interview that
having gone thru Illinois and Ohio on Saturday
via the Big Four and returned over the Baltimore
& Ohio in his judgment. latter twenty-seven
years III the grain trade this Is the poorest pros
pect ever saw"
st. Louis again reported buying July
wheat in Chicago. and the northwest was selling.
j. Ogden Armour announced himself a bull,
thus He said. II am bull1sh on everything
that grows out Of the ground. Heavy rains ami
floods west OF the Mississippi river will largely
reduce acreage in corn. Price Of corn Is basis
for hogs; a great many young pigs have prob
ably been killed by wet weather in the west
We have had a good decline in provisions and 1t
has put the market in healthy condition
After the first rush Of trading here there was
somewhat lower tendency, but by noon prices
had stiffened and July sold as high as 7sAt
and September at 711ac. and etill going up.
The visible supply of wheat to-day Is 2462s
900 bu against % 6O4 900 last year. decrease OF
Ao76,oOO bu. The weeks decrease was 2614
600 against S.345.00 bu last week.
Wheat on passage increased 1,2SO-00O bu, the
worlds shipments being 10. 056. 900 Blu against
12,424.OoO bu the previous week and 9,5s2,OOt
last year.
Clearances of wheat and -four for three days
eaualed 1,S1S.27S bu. Receipts at primary points
for three days were 7oO,O46 bu against 431, 81;
last week. and shipments e92, OILS bu against 517,
1885, ~--.
The cash wheat market was exceedingl!
strong No. northern realized 21ac over July
No. fully 1c premium and No. sold at Jul!
price