The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-07-30
Bull News Comes Pouring In Upon
the Market From Every
Quarter.
Foreign Markets Up, Export De-
mand, and Low Temperatures
Northwest.
September Spurts Above 1870, but
Closes Easier-A Day of
Activity. q

Minneapolis Chamber of Commerce,
July 30.-The bulls in wheat had every
thing to help them this morning, and IN
view Of the color of the news and the
number Of distinctively bullish items that
came in it was not surprising that Sep
TENDER wheat here should have opened
UP strong and excited with the first trades
around 7sssc. There was, to begin with.
a surprising advance in Liverpool the
cables showing 1@1bd higher for wheat
and I'D higher for corn. This was sur
prising for the reason that Liverpool has
held off on many Of the recent spurts
on our side, While the jump to-day was
good response to our strength Of yester-
day. So the bulls started In with the
potent argument that the foreigners have
at last woke up to the strong situation
here and notwithstanding the fact that
later cable advices reported the Liverpool
rise due in part to local conditions there,
the bulls held the satisfying view that
Liverpool was at last whipped into line
and would likely follow on any further
advances we might make. This foreign
response was sufficient In itself to have
encouraged bull activity, and with 1t
there were the same statistical influences
for strength. as light receipts at all mar
kets and decrease In eapo1is stocks
now estimated at 450, 900 bushels. And
with it all the wires brought reports from
Portal and Harvey of frosts last night.
This frost report was important In
luence and while many doubted whether
any harm had been done the effect was
to make long holders hang on for still
furtksf profits, and while selling carried
SeYaAmber off from 1880 to 77Hc there
was no such rush to unload as Is usually
the when market opens up
then turns back, and at 77&c the market
stuck, turning up to 7SAc again On very
moderate buying. On the filing Of a few
moderate new orders September sold di-
rectly to 1880.
For all that the market was so strong
and showed such q climbing tendency the
trade could not that conditions were
any the worse, but on the contrary the
general showing was better. The south
west had good rains and if corn was on
the boom very recently because of lack
damper on that argument. Still every
thing advanced Dodge City, Concordia
and Wichita had rains, also Fleetwood,
Hutchinson and Florence and at the three
Last points it was still rainy this morn
ing. Many Nebraska points had rains.
Kansas CITY and st. Louis were cool and
cloudy. For the northwest the forecast
is favorable. North Dakota has the pre-
diction Of fair weather except for show
ers in places. South Dakota has fair and
warmer weather in prospect and the Min
nesota and Iowa predictions Is for fair
weather. The lowest temperatures
shown to-day were around SO. When the
wheat was frosted so badly in 1898 the
thermometer ranged down to 81 degrees.
Minneapolis had 1926 cars against 1877,
Duluth 7 against 1877, Chicago So against
PIG, Kansas City 173 against 216 and st.
Louis 140, 900 bushels against 3O2, 900 bush
els. Primary receipts in consequence
were again extremely light and only half
OF last year, totaling $4,000 bushels
against 1,14S,O bushels.
The Price Current report which dates
before the rains mentioned above saws
that corn conditions are fully maintained
but most sections needing rain The
Wheat situation not essentially changed
Moderate disappointment in Yields con
tlnues. Oats are only fair crop.
The healthiest sign in the whole situa
ton Is the export inquiry. Engs. the Mil
mine export man, confirmed some Of the
export business reported yesterday to
Verhoeff this morning. There ID the on.
portunity to do a good business II the b,ll
enthusiasts do not again carry the MAJ
kets out Of line.
Thirty loads were reported taken to-da,
for export. 10Y
The market reached 7sX@7sMc finally
put Just at the close fell back to 1914 a
19t4c. closing at that figure.
The cash market was active and firm
around 87A@SSc for No. northern: NJ
northern sold from S51s @ sec for tho hulk
inc first new No. sold at SObc. this r.
arrive. ~1'S -