The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-07
This the Feature Of Quiet and Hes.
itating Wheat Market Chi
cage Sells Lower.
Bears Hammer the Other Markets
and Local September Option,
but July Holds.
The Weather Favorable and the
News and Statistics Rather
Weakening.

15 Minneapolis Chamber Of Commerce. May o.
This was the quietest morning so far this week
In the local wheat pit. There a lack of
interest on the part Of the pit element and a
scarcity of new orders from the outside. July
wheat opened at 751ac and varied by only the
smallest fractional changes up to noon. The
usual run OF conflicting reports came from the
southwest, but the good rews predominated. It
was noted that while St Louis sent word that
there were many bad reports and other centers
put out bad reports of a nature implying the
condensation Of collective information. that par
ttcular instances OF damage were few. The
eDecifc reports the other hand generally
favorable and spoke of good promise well
maintained. The Price Current of to-day takes
!, note of a further lowering of the wheat condi-
ton. but is conservative in tone and says the
general average remains good Corn planting has
progressed more favorably in the past few days
but is still backward. The week has been
favorable for oats.
7 90 last year and Duluth had II against Is. Wheat
and -four clearances for the day were Alt 900 bu
The figures showing the decrease In worlds
stocks during April were sent out, showing q
falling off Of 2O,0oO.ooo bu. In April last year
the decrease n, 500, 900 bu. The total in the
worlds visible supply is now 1S5,O00O0O bu,
while year ago at this time the total was
4 1853 100000 bu.
The Chicago Daily Trade Bulletin to-day will
say: worlds supply Of breadstuTs decreased
+ 20. 436,Q0O bu during April, compared with H.
100000 bu in March and "a, sol 900 bu In April,
1902"
aBroomhall cabl,d that the declines in Ameri-
Z can markets yesterday were responsible for the
easier opening in wheat this morning. initial
! quotations being I'D to sd lower. Other than
this the market extremely dull and feature
less, prices showing change at the 80 cable.
Opening prices in reflected the lower Ameri-
can cables, showing declines of 1sMAd. The
scarcity Of contract corn was again factor,
resulting In reaction of sd in both deliver
les. This gain later lost in July, owing to
the execution of large selling order for Ire
land. Rains greatly needed in the Or1mea.
Broomhall cabled later that his Argentine agent
estimates the wheat shipments to Europe this
week will amount to about 2,400, 900 bu which
will compare with European shipments last week
4 of 2156,o00 and year ago of 1000 blu. He
estimates corn shipments will be about l., 70O.-
900 against $4,000 previous week and 924, 900
bu year ago. The weather has continued to
improve during the past few days
Primary receipts PAS. 900 bu against &c.,
900, and shipments $3.50 against 279OOO
Broomhall sent cable correcting the report of
Tuesday and saying that owing to error in
Russian stocks the European visible and afoat
last week decreased 100000 bu instead of
800, 900 reported.
n Near the close the feature of the day devel-
oped which the relative strength In Mime
apolis July. The September option here lost
&c and in other markets there was all around
weakness. but Minneapolis July held Arm, clos
Ing ut 7512c against 1915 M759ac yesterday. May
closed at 75Ac and September at 6S1ac.
4 In the cash market there was good demand
and some sales of No. / northern to arrive at
lac to 77Ac. s.r.