The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-07-10
Prices Likely to Be Affected After It
Is Received This After
noon.
Every Expectation That It Will Be
Bullish, and Much New
Buying.
A Strong and Higher Close in Sep
TENDER Wheat-News of
the Day.

Minneapolis Chamber of Commerce.
July 10.-Wheat was strong, active and
rather unsettled this morning, holding
above TIC for September and selling to
77Bc yet apparently as much inclined
to move one way as the other on any in
fuence. There was no influence here
other than that arising from continued
unfavorable reports and new buying. this
serving to hold the market strong against
selling without moving it materially either
way. The government report Will come
along after the close Of business to-day
Opinions as to what 1t will show are not
worth much 1t is a certainty, however
that bullish report Is expected and that
much wheat has been bought on this ex-
pectation. In last months report the
spring wheat condition was put at 95.9,
with an estimated acreage of 1925, 900;
winter wheat condition, 1872; acreage,
32.100.000. To what extent this has been
lowered, in the opinion Of the govern
ment. traders will know after p. m.
to-day. When the last report came out
1t was figured to foreshadow total wheat
yield of TAO, 900 blu. Later on the Jones
estimate was given out, the figures being
practically the same. Some time after
this, Jones reduced his estimate of the
probable total yield to 725,00O,000, this
being still tentative in a way and based
upon the supposition that the northwest
would have 200, 900, 900 bushels, 1T being
then too early for an estimate of north
western yield. The government has got
to come down in it's figures OF this there
Is 10 doubt. To what extent 1t Will come
down is a question, but many look for
government report that will Indicate not
more than TOO, 1000, 900 bushels. That such
a report would be very bullish abroad can
not be doubted, as many in the foreign
trade still have their Ideas OF supply
based upon the early reports that the
United States was to raise the biggest
ubao about
900, 900 bushels, which ideas will have to
be revised eventually anyway. and may
begin to change when the government re-
port is out,
Minneapolis received 12S cars, against
226 and Duluth against 81. Primary
points had 219OO0 bushels, against $4,000
and shipped sol, 900 against 401, 900. Wheat
and flour clearances equaled $4,000
bushels.
Snow estimates the corn condition at
ST. on an acreage Of 100000, which
suggests a yield of 2,230,000 bushels, using
80 as par.
The Modern Miller says threshing re-
turns Of winter wheat indicate small
yields in the soft winter wheat sections,
but that the quality is good. The small
est yields are in the southern portions Of
Ohio, Indiana, Illinois and Missouri and
I'm Tennessee and Kentucky, the average
being about ten bushels per acre, running
as low as two and as high as twenty
bushels. In the more northern sections
of Ohio, Indiana, Illinois and Missouri,
the yield averages better, about twenty
bushels per acre. In Texas the yield is
from II to 35 bushels, and in Oklahoma
Is to 20 bushels. Hard winter wheat in
Kansas and Oklahoma, where harvested,
averages high, from 20 to 80 bushels, and
the promise in Kansas and Nebraska is
for good crop Of fine quality. In south
ern Illinois, Missouri Indiana and the
southern Ohio river valley, where the yield
is small. farmers are stacking wheat to
hold.
Broomhall cabled that fine weather in
England and France and poor spot de-
mand offset to large extent the ad-
vances in American Yesterday, wheat
opening unchanged to u higher. During
the morning the market was inactive and
the distant deliveries eased of Nd Corn
opened 1sd higher in sympathy with the
firmness Of American cables: Later in
the session the pressure Of LaPlatta corn
spot induced rather free liqudation
resulting in 3sd decline in both months.
Broomhall's Argentine agent cables that
wheat seeding in the province of Santa
Fe is well advanced. This is the largest
wheat growing district of Argentine
Broomhall has prepared an estimate Of
the present Australian crop. which shows
1891 900 acres and a yield Of 100000
bushels. Last year, owing to the great
drought, AuSlTdlla produced only l,lbU,UUU
bushels, against an average yield of
1890, 900. =,
Near the close the market was strong
and September closed at 775sc. Good
buying came in near the end.
The cash market had little gooN wheat
on sale. There was satisfactory demand
for No. northern at s6A @S7c some No.
l northern bringing 8SAc. 49,
The strength in September near the
close was partly on a rumor that the
Commercial West Of tomorrow will
make the total crop only 715,000,0 900
bushels.