The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-24
INTRO GRAIN etaoin shrdlu Inn
..8. g. %. 6. g.. g. q. g. g. g..
Heavy Rains, Higher Foreign Mar.
kets, Fair Export Sales and
Other Bull Items.
London Statist Fullish-The Local
Stocks Now Down TO $4,000
Bushels.
But All the Trade Stands in Fear Of
a Heavy Run Of New
Wheat.

Minneapolis Chamber Of Commerce, Aug. "a
Rains over the northwest and the prediction OF
unsettled weather and more rains likely, opened
the wheat market y over the closing figure Of
Saturday and brought an unsettled feeling In the
pit. September wheat having opened at S17sc
sold directly to S21sc. but was off cent agaia
shortly and back to SIS @S1Ac. There were a
number of bullsh things in sight and some bear
ish items as we'll and traders could hardly make
long side again or whether it good policy
yet awhile. weather over spring
bsro, Casselton, Fargo and Grand Forks We're
the more important points reporting rains last
night. That there heavy rains over the
northwest and not mere showers, was clear
from the map, which showed .96 inches at
Williston, 1872 inches at Moorhead and 80
inches at Bismarck Over the corn territory, on
the wheat bulls could get no help from the corn
market. Minneapolis showed up more wheat than
on this date last year. which scared the timid
holders, who took the figures showing 452 cars
against se6 as foresha dowipg continued heavy
movement from now on. Kansas City received
$40 cars against PA, Chicago ia against $780,
Duluth against 81 and St. Louis SO, 900 bu
against $4,000 bn
Early in the session bull news began coming
in, news that ordinarily would have meant a
sharp advance. but the market weighted
down and on every attempt at a rally renewed
selling put 1t down again. For one thing the
foreign markets were higher, Liverpool closing
SD up and Paris 20625 centimes higher this in
cables stated that weather portions of
the most important districts In france is DaQ,
and Liverpool cables confirmed this. Half way
thru the session New York reported thirty loads
of wheat worked for export. The Modern Miller
had out special bulletin to the effect that the
wheat crop In Texas Is turning out poorly and
such total will be shown in that state as was
formerly indicated. To start the week the
MINNEAPOLIS stocks decreased 10000 bu for one
day. The visible increased moderately, only
$4,000 bu, which makes the total IL, $50, 900 bu,
while Minnea polls stocks down to $4,000 bu
The Harris-Gates Weekly Review says that
Inn will yxh{n
lators and in fact all branches of the grain trade
have waited for some time Will the movement
from the spring wheat crop be light or heavy :?
If it is light in anything like the sense that
the movement of winter wheat has been light
It will undoubtedly have far-reaching effect
the world over. -..-
Results will be more readily Forthcoming from
northwestern spring wheat movement than from
that In winter wheat territory, as railroad in
the latter section were SO badly crippled by the
floods and consequent freight congestion at ter
minals last spring that they have not recovered
The movement from the winter wheat crop there
the crop that it has been II the past No condi-
itions approaching those Of the southwest are ap-
parent northwest
1902. 600. Wheat and -four clearances, $4,000 bu.
Logan wired Stephens copy of article in the
London Statst reviewing the worlds wheat sup
ply situation follows: o. ..-.
1.-THE probability is that the surplus for ex-
port from America the coming season will not ex.
coed 160, 200, compared with 2O5,O00 900 ac-
tuay exported in the past season and 235, 900, 600
in the previous Such outlook In view of
the probability that the importing countries will
require about 100000 900 in the season which has
Just commenced. may be expected to inspire con-
fdence In the future of this article when it ia
remembered that under the most favorable condi-
lions the exporting countries apart from America
cannot be expected to supply 300, 900, 900 bu
The market closed firm. September at 81 &c,
Decembr at 791Ac and Nay at S2B 1S2Ac.
The cash market showed good demand and a
price range frmer than expected in view of the
larger receipts. New wheat to arrive was in good
=, q