The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-15
The Tendency Is Firm and There
Are Many Strengthening Fea-
lures Apparent.
But Hesitation Is the Rule and
Trade Is stagnant in the
Pit.
Some Dry Weather Reports Local
a. Stocks Decrease 1850, 900
Bushels So Far.

Minneapolis Chamber of Commerce. May To-
Wheat stuck in the rut during the first half of
the morning session and would not move more
than small fraction either way, July selling
from 1880 to 76a4c and back to 76Ssc. Mean
while there news of nature to strengthen
prices and two items that We're decidedly
bullish., The Pacific coast is still dry and the
need of rain is more urgent than ever. The
southwest is evidently not improving Its crop
prospects any, altho conflicting reports are still
seen. Many localities, in fact great majority,
still report everything favorable But occa-
sionally there comes very bad report, appar-
emily from reliable sources. Such a one cume
this morning from Mcpherson, Kan, and was
extremely bulish. The Hessian fly tits stated,
has appeared over wider extent of territory and
the ravages of the insect are alarming. Great
deterioration is noted in consequence. With
, Canadian line. 1t Is not that conditions there
are at all bad. On the contrary, everything is
very promising. But good rain just now
would be highly beneficial, and, with the top
soil dry and loose and blowing around in some
places 1t Is quite to be expected that complaints
should come In. The Canadian northwest can
go some time without rain. Still If few more
days pass without rains the trade is likely to
hear the talk that the plant being late in start
ing, will be late in reaching maturity and liable
to frost damage, and in this connection the stu
alton across the line will bear watching.
Another strong argument is the decrease In
local stocks this week, which, with one day yet
of 1900, 900 bu.
will bring the total down in the neighborhood
of ZOO, 90 bu. 5-- ~ &
Primary receipts were zoo, 900 bu. against 1885,
600 last year, and shipments $4,000 blu, against
$4,000 bu. Minneapolis had 81 cars, against
81 last year, and Duluth d. against 6. Wheat
and flour clearances 3OS, 900 bu,
The Modern Miller to-day will say Little
change, If any, for the better is noted In the
condition Of winter wheat in the sections where
the plant has shown deterioration or is backward
in growth. This is confined. principally to CEN
trail and southern Illinois and Indiana south of
the Ohio river and to Missouri outside of the
southwestern portion of the state. In the en-
tire southwest, including Kansas and Texas, the
prospects are excellent, and in Nebraska the out
look is good. There are no complaints of CON
sequence elsewhere except in California, where
rain is badly needed ri
The following summary of the wheat position
In the United States Is from compilation bysthe
Daily Trade Bulletin: 1.-The movement of wheat
at the primary markets, from July1 to May l.,
about 224, 600, 600 bu, compared with 21S-
DOC, 600 bu for the corresponding period in 19O1-
1902. The exports of -four and wheat during the
same period were about ia DOC. 900 bu, compared
with 2oe 600 900 bn for the same time last year
"a decrease of 2S,000 900 bu, or Is per cent.
The official visible supply is about 100000 bu
smaller than one year ago. Estimating the
wheat crop of the United States at 675, 100000
bu, and allowing 105, 900, 900 bu for supplies in
all positions on July 1, 1902, the aggregate
supplies for the twelve months would be approxi-
mately $50. 900. 900 bu. Allowing 300, OOO 900 blu
for domestic consumption, rs; 900 900 bu for seed
Ing purposes. 174 100000 bu for exports to date
and 100, 100000 bu for supplies on hand July 1,
asos, makes an aggregate accounted for of $780,
anu %"oulu ledFe lOE export during the
remaining two months 41OOO 900 bu. or an aver
age OF 20, 800, 900 bu per month. The exports
from May l. 1902. to July 1. 1902, were about
bu. or about Is. 600. 900 bu per month,
Bradstreets report Of weekly clearances was
favorable. showing 4,O9S.O0O bu against 32OO,.
GOO last week. Last year at this time the figures
were 5,172OOO bu = =
The market closed firm at 76Mc for July and
6ekc for September May closed at 77Mc and
December was traded in for the first time. clos
Ing at 69A6l63asc. -
In the cash market there was an excellent de
mand ard very little wheat on SALE