The Minneapolis journal., 1903-04-28
May Higher at Opening and Stays
Above July Without Much
Real Interest.
Lower Cables 0ffest Bad Weather
and Fear of Armour Made
Traders Weary.
At the End the Market Broke 14c
in Sympathy With
Chicago.

Minneapolis Chamber of Commerce. April 2S.-.
There. was little activity but firm tone to
The quotations were: May, Toe; July, 74H@
15c; July, 6s5sc. Earliest advices stated the
Liverpool market was keeping hrm on account
of small shipments from this side and better
cash demand. Continental markets have been
acting easier for several days Export demand
not as good. Liverpool 1s@asd higher;
London, I'D lower; Paris, unchanged to 10 ecu
Cold weather was reported In the northwest,
as low as - above in. British North America,
and under freezing in the Dakotas. Rain in
Iowa, Nebraska and Oklahoma, and temperature
IN west and northwest higher.
Broomhalrs Liverpool cable stated opening
prices in wheat reflected the slight declines in
America yesterday, being sd lower. During
the morning May advanced asd and July Ad.
the former further covering by shorts owing
partially to light speculative offerings, but
particularly to the small American shipments
of wheat to Liverpool during April. The de-
clines In American markets yesterday were re-
sponsible for the opening loss of 4d and sd in
corn. Later in the session May reacted I'D on
covering by shorts, July gaining 1sd also in sym
pathy.
Private elevator stocks were only 100000
bu, decrease Of 254, 900 bu. Worlds visible
stated at 81 800, 900 bu.
Chicago contract stocks Of wheat decreased
100000 bu, leaving 2.s4e,ooO bu on hand.
Kansas City was reported selling and fears
we're expressed that the export demand would
consequently go that way. simultaneously with
this the cables were filed showing May closed
Id higher at Liverpool and July Ad higher.
Under this influence both May and July became
stronger. May rose to 1915 @75Ac and July to
751sc.
Paris closed 1o@2o centimes lower London
unchanged to 1sd lower; Antwerp unchanged;
Berlin unchanged; Budapest u lower.
Before Bradstreet's report came out the mar
ket, tho fairly steady showed a disposition to
lose the gain that followed the higher close in
Liverpool. Chicago aropping rs Braastrest
+, showed a decrease of 4,152,OO0 bu east of the
Rockies, and 100000 bu decrease 'in Europe and
afoat; total decrease, 4.752, 900 bu. Under
dinary circumstances the combined influences
would surely have put the market up but traders
are afraid that the leading long in Chicago, who
is quietly watching the course of events from
his point Of vantage, will dump big block on
the market and cause slump that none are
willing or able to sustain.
European visible decrease compared as fol-
lows: This week, 600, 600 bu; last week, 2, 600,-
600 bu, and last year, 10000 bu.
Primary receipts $50. 362 bu to-day.
against 223, 419 bu last week; shipments 535, ,9SS
bu to-day, 23o,s53 bu last week: Clearances
of wheat and flour eaualed 474, ,6s2 bu.
There was nothing doing up to noon. when
May was 75Ac bid and July 75@75Bc bid. Lo-
cal traders are evidently disposed to hammer the
market, but afraid of the big Chicago bull.
While he Is not reported to be doing anything,
and no export trade had yet developed for to-
day, there evidently good support to the
Minneapolis received IS cars Of wheat to-day
against 81 last year, and shipped 80 cars against
IS cars. Local stocks decreased 100000 bu for
half the week.
! The cash wheat market was quiet. The ,nllers
not buying. although there
mills running than at any time since the shut
down. No. I northern was 1Ac over May and
No. 2 at 1c premium.
In the last hour the market was weaker. Chi
cago reported heavy liquidation without support
and the quotation gave way by fractions. Sym
pathizng bears here helped the decline along and
Minneapolis closed at 74Mc for May and 74% q
"a MC for July.