The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-09
Heavy Outward Movement Of Wheat
and Flour a Help to Bull
Sentiment.
The Wheat Market Makes Another
Advance, Minneapolis July
Reaching 76s4c.
The Government Report on Monday
Expected to Be Moderately
Bulish.

Minneapolis Chamber of Commerce, May q
Wheat opened up higher this morning and held
varying only lsc in price. Then on little end
of the week liquidation the marked sagged, but
It was hard to force break and there was was
a decided stimulus to strong sentiment, was
found in the report of wheat and flour clearances
which showed the heavy total Of $4,000 BIZ.
Other incentives to strength were found In
private cables from London to the effect that the
weather in France is somewhat less favorable.
and that rain is needed in south Russia. In the
Chicago market there was little evidence OF any
d little re the by M was seat
across regarding the movement in France for
lowering Of the import duty on grain M The pro-
lent of about 15Ac bushel: This would be
strong bull card but it is all prospective at the
best and may not be brought about. Several
reports Of rather unfavorable nature came from
the southwest, but nothing especially bad. Shows
Wheat Wheat crop has deterorated slightly during the
last month, but the decline In prospect Is not
get nhs POSSIBLY y the ws anh
but it is doubtful if the figures of the forth
Ginning SINCE report tn wh snw seens
in at about usual date and under soil conditions
varying little from normal situation.
Corn planting has made fairly good progress
the last week, but as blowing has been de,
layed, it is evident that the crop will be planted
R. G. Dun 4 Co. say grain has not main
tanned last weeks position, no definite report Of
injury being received, altho farm work has been
retarded by unfavorable weather. Unsatsfac-
tory conditions at flour mills contribute to the
easier tone of wheat.
Minneapolis has 112 cars, against 1856 last
ceived 237 900 bu, against 1872, 900, and shipped
414.0 600 bu. against 500, 900 bu.
Broomhall estimates the worlds shipments on
Monday next will be about 10, 400, 900 bu, of
which quantity Europe will take about $500. 900
bu. He predicts there will be a moderate In
crease in the quantity of breadstutfs Oh passage.
Arrivals of breadstuffs into the United Kingdom
during the past week were about 3,2OO,OOO bu.
compared with similar quantity the previous
week. and 100000 bu the corresponding week Il
ii An Antwerp letter of April IS received to-
day gives q fair analysis of the European stu
alton: 1.-THE European wheat situation Is I'M
changed except for the fact that the scarcity
demand is large everywhere and the offerings
small Th following will Illustrate this: The
Danube was closed for three months by ice.
Navigation opened at the end Of March, and to-
day, at the end op April the stocks there are
radically cleaned out as have not seen 1t for
BEARS this May wheat sells at premium over
July. Argentina's offerings not preying rn
the market and midas offerings are stsiL out
Of line. The United States, however. has sold
only repeat again that it is impossible. to buy
wheat for August or September shipments IRON
any export country at the same parity as from
the United States"
The market was very strong near the close
All options were frmer and July sold to 1880
pectaton that the government report of Mon
day will show up moderately bullish and man!
shorts have covered the past day or two on thu
prospect. .
inquiry for wheat of good milling quality tt
arrive