The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-29
The Week and the Month End With
Declines, but Minneapolis
September Firm.
Chicago May OFF &c Minneapolis
May Off 1c, July 7sc, septem-
Der Only 1sc
Local Wheat Stocks Decreased by
About 100000 Blu. This
Week. .

Minneapolis Chamber of Commerce, May %
An extremely dull and quiet market was on tnas
morning in wheat. The pit had holiday ap-
pearance and was at times half deserted. Inc
principal incentive to the traders to stay by the
market was the possibility OF something OF acIV-
ity developing later i'll the session Inc 2Iact
that the May option expires to-day and that
all May trades close this afternoon mace II
seem likely that some fuctuation In that month
might occur in the final trades In the aclye
options, July and September, there was the
fear that the close might witness some recessions
in price, as it was figured that there were some
longs who would not care to carry over incl.
wheat until Tuesday, the chamber having voted
to take an adjournment from the close to-day
over Saturday, Sunday and Monday. 80 tar as
the weather was concerned the effect was Dul-
fish. The weather map showed nearly -FOUR
4 inches of rain at Concorda, Kan, and 31s inches
in Oklahoma; general rains in Missouri, Kansas
and Nebraska; light rains in Manitoba; scattered
morning Omaha and North Platte and Vale en-
tine Neb and in Louisville, Concordia and st.
Louis. In the north and northwest II Is parity
cloudy: west and southwest cloudy. Ii there
was fear of too much rain before, there Is the
more reason for fear now. There Is low par
Ing northward, and the forecast is for probable
rains over the central west and the northwest to-
night and Saturday.
Broomhall cabled: Wheat opened Md lower
and remained unchanged during the morning ses-
i sion, the only factor being the lower American
II cables. The undertone was steady. Corn opened
= morning on improvement in the weather IN Amer
lea.
Paris weather fine and hot
!; $ Berlin, hot.
The visible supply of wheat in the chief ports
Of Argentine shows 1908, 900 bu, against 4,12O.-
!; 600 bu week ago and 92S0OO but year ago.
Corn shows g 25S 900 bu, against SD, 900 bu a
4 week ago and 39S, 600 Blu year ago. The Ar
I gentine wheat market is steady In tone, with
moderate demand for export Arrivals from the
satisfaction. The market has shown an
improvement over that Of last week, the tone
now being firm with a good export, demand.
Arrivals from the interior are moderate and the
quality is fair.
The Northwestern Miller had a cablegram from
Australia reporting the crop outlook favorable.
(. The Modern Miller report about stand
off. The Miller says that except in parts of the
west and southwest where heavy rains fell, and
in the east, where drought conditions prevail,
the weather was favorable for winter wheat, and
further improvement is noted in the condition of
the crop in sections where the deterioration was
most marked. The general condition, however.
has not been improved because of offsets by re-
ports of damage from floods and rust that have
appeared where frequent rains and hot weather
are prevalent. Much of the wheat in the CEN
trail regions continues to head short growth.
i Minneapolis stocks decreased again yesterday,
making the total for the week about ,06O 600
bu. Primary points received $4,000 blu and
shipped 1856, 900 bu. against holiday last year.
Duluth against 10. Wheat and -four clear
ances, 34s.OOO bu
~ At noon the July option was forced down to
Tic on free selling, but September held and was
relatively firm.
Renewed liquidation at the close forced July
to 1859 September meanwhile holding at 69Mc
The selling at the close general, some of II
being against purchases of wheat to arrive ant
little of 1t from spreaders who had bought
July and sold September. and who decided thai
they had the wrong spread.
July closed at 1875 @76Ac and September Al
693sc. The strength in September here. agains
general weakness in all market and all othe
markets, was the feature of the close.
) Exports for the week. according to the Brad
streets figures, were T. s71 900 blu. against 1901,
600 blu last year. .95
The cash market active for spot lots al
Il Well as for No. northern to arrive. On thes
trades to arrive the range was 7Sac to 1884 c
spot No selling at 7Sa4 @79c. No. to arriv
brought 791ac, but the spot No. / sold at 79a
\ @S0c. - -