The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-13
Trading Light and Tendency i
, Shown to Lay Back and Watch
the Weather.
Conditions So Improved That Many
Are Selling Short Antioipa-
ting a Break.
But There Is Support and Evidence
of an Undercurrent Of
Strength.

Minneapolis Chamber Of Commerce, June 18.-
To-day brought tho dullest session Of the week
In the wheat market. prices varying slightly,
and trading being very light. Liverpool was
closed for holiday and the market was without
this influence. Domestic weather and Drop con-
ditions were tho important things and along this
line there little strictly new. Captain Phil
lips OF Kansas sent the Chicago board a mes
sage giving 1t as his opinion that the Kansas
crop will be MUNICH under the average. and this
had sustaining effect. The Commercial West
also had moderately bullish review wheat
of which the following is an excerpt: 1T is es-
timated that the government report issued yes
'terday afteapon, indicates wheat crop OF APP
proximately 765000,000 bu or about 95,O0O.OOO
beartsh by some. Yet as European estimates
are for crop Of over 100 900, 900 less than last
year, and the visible in this country and OF
the world is less than year ago. and moreover,
as the winter wheat crop has deteriorated since
June l and the spring crop is in it's arst stage
of growth-taking these facts and the possibili-
ties into consideration, the government report
is not very bearish document.
'"rhere Is certainly nothing to alarm the bull
in the present position of wheat. There Is no
reason to expect lower average range OF prices
on the 1908 crop than on the last one, even
should the growing crops go on to maturity IN
their present condition. But should anything
happen to spring wheat, or should wet mar
vest overtake the winter wheat, the bears would
be the ones TO do the running. 80 much Tor
possibilities.
"a glance at actual conditions means more
than surnise as to possibilities, however.
Therefore the speculator should take Into consid-
Grafton the increased consumption the world over,
supplies, distribution and crop prospects. While
there will be nothing nsational In this, the I'M
preston will doubtless be gained that a low
range Of prices for the next crop year Is very
improbable.
"Fluctuations will, of course, carry the price
too htgh at times and again too low Senti
ment plays an important part In fluctuations Al
present the usual "June Is bear month sent1
ment is beginning to affect the local PIT. II
the activity of the lest week should give way
to dullness this sentiment would doubtless have
its effect the market ana SOMEWHAT io"o'
prices be the result .
west and northwest with possible showers 70
morrow, but the outlook generally clear. Boston
wired report of rains all thru New EngLano yes
terday and last night. with forecast OF more
rain over Sunday, this bringing reat relief.
Broomhall estimates that the world shlpnlenu
on Monday next will amount to about 1l,2OO,OO'
bu of which quantity Europe will take abou
10 400 900 bu. He expects some decrease IN tn
quantity of breadstuffs on passage. Arrivals o
Lreadstufs into the United Kingdom the pas
week amount to about 4,40O, 900 Du agans
q similar quantity the previous week and 4,1oo,
600 bu the corresponding week year ago.
Paris has cold weather with the sky overcast
Berlin is cloudy with temperature.
Minneapolis received 236 cars against 2oo las
year; Duluth 10 against L. Primary points n oa
BOG, 900 blu against o5I,oOO ana snlppeo AoA'oV
against 300, 900.
The weather closed at 1885 @7sMc for July
71ghc for September and 70ss @703ac for De
cember. 's~.- a.
Cash wheat was again in good sale at hr1
prices and the offerings were all taken promptly
the tables being we'll cleaned up after an hou'