The Minneapolis journal., 1903-03-30
May Gains Over a Cent From Low
Point and Closes Very Firm
at 1875 Gents.
The Visible Supply Decrease Of
2,375,0 900 Blu. Was1a Strength
e1ing Feature.
Good Export Inquiry Reported
News and Gossip Of
the Trade.

1 Minneapolis Chamber Of Commerce. March 80.
Wheat was just shade off In price this NOR
armer almost ep mnediate7y and heid up we1 sell
ing to 73&c after time. There was consider
able doubt as to what the visible would show,
and some disposition to buy little on the fore
east of a big decrease. Stocks at Fort VII
liams were reported to have fallen off consider
ably. and this, it was thought. might affect the
visible showing An early message brought the
report OF fair export inquiry at New York and
the indications Of good business to come. Sent1-
ment has changed considerably and the week
opens with the situation. while bearsh enough
vet free from the pessimsm of last week. A
big Chicago house that has been rather inclined
to put out the bear side Of the situation had
out more favorable summary to-day, saying
that they have noticed that foreigners appear to
be willing to take little cash wheat whenever
reached at about the same level on two success
sive dips last week. This rather indicates that
we working basis despite the heavy
competition from Argentina and other countries.
Liquidation has been rather free during the long
continued decline, and much Of the pressure is,
therefore, removed. This leaves the market in
spond to any important development either way.
h + n nen M to the |
happens. The Modern Miller predicts that the
condition Of winter wheat April / will be as
high in 1901, when its average was 81. The
area this year Is so much larger that an enor-
nous crop is to be expected, barring important
accidents. The recent fears of man lation
appear to have faded away Spring wheat con-
LlnueS relALlVely stronger LNAu "lnler, Dul Aedts
are not now as general that there will not be
enough to go around. Current clearances are
moderate. but will be fortunate to maintain
even this level for the remaining three months
of the crop year. The showing for the nine
months of the crop year to date is certainly
4o date as With P Sa for tho
corresponding period of the previous year. The
very high prices prevailing for meats Of all sorts
the world over have undoubtedly greatly in
creased the worlds consumption Of wheat.
T. WOrlQ'S shipments We're S,l1E,OOU Du, against
9,082, 600 bu last year, and G, 6S2, 900 bu year
ago. America shipped 2,904, 900 bu Russia,
2.os2, 900 bu; Danube 1.24s, 900 bu; Argentine.
, 2,42 900 bu. and India, 1o4. 900 bu. The guam
tity on passage, at 29, s4s. 900 bu, shows big de-
of 1.176,ooo bu. The visible shows big de-
crease, or 2, 764. 600 bu-
On the big decrease the markets strengthened
all around Primary points received 646, 90 bu,
against $4,000 bu, and shipped $4,000 bu.
against 177,ooo bu. Wheat and -four clearances
equaled 100000 bu. Minneapolis had 400 cars,
against 34s last year, and Duluth had q,
against 26.
( New York reported II loads wheat and IS OF
corn for export.
The market was firm near the close, May
t9uching 73A M73skc on sales. May closed at
73kc July 1890, September, 671sc.
g There was excellent demand for cash wheat.