The Minneapolis journal., 1903-04-29
About Noon To-day a Few Reports
limiting at Damage Began
Coming In.
The Southwest Is Dangerously Wet,
hut It Is Late to Expect
d Freeze.
{ . .
Traders Not Quite So Afraid of Ar.
mour and Some Short Selling
Noticed.

Minneapolis Chamber Of Commerce, April 20.
The wheat market opened this morning with
little Of new influence in the view, no develop.
ments Of Importance over night a dearth Of
gossip of interest, light trading and slightly low
er range of prices. The easier feeling that
marked the course of the market yesterday was
shown again to-day. Traders seemed to have
thrown aside the great fear of the short side
that ruled while ago when the Armour inau-
ence was more In evidence. and on the wavering
following the opening there was considerable
short selling or, at least. what looked like short
selling. The May option. having opened at
747sc. sold down to 74A @74%c on this. The
tory where it took the form of snow, and pre-
cipitation extended over the western wheat area
almost from end to end. 1t was below the
freezing point in Minnesota, the Dakotas and
Nebraska. Kansas and Iowa had very heavy
rains. Kansas City wired that reports from
Lenora. Edmond. Logan and Portis are of heavy
rains last night. and showing this morning and
freezing. There are some reports of snow. from
Portis to Downs and from Downs to Stockton
of heavy rains last night. with freezing now
From Downs to Scottville there were good rains
Of from one to three inches. and it is still driz-
zling. From Scottville to Greenleaf. there were
good rains last night. and it was still raining
lightly. From Barnson to Atchtson there were
very good rains
The cables brought in little that new.
Liverpool closed sd lower. Broomhall cabled
that the Liverpool market is steady. with small
stocks, which are we'll held. The weather. both
In England and on the continent. continues favor
able for the growing crops. There is nothing
in the weather in this country that can harm
winter wheat. unless there should come a very
cold turn. In fact, the rains in theh southwest
will be of great benefit to the growing crop. In
regard to corn. Rycroft says much depends on
the weather and the movement to market. Cash
demand is very quiet. Merchants abroad hesi
tate to buy freely. being afraid of the condition
rs good many arrivals recently have been In
bad shape. This tends to keep the foreign
markets steady and their stocks small, but is not
a bull factor for our market. -
Minneapolis stocks have decreased over 800 900
l,,% 6Se for fnfS war; varv
year, Duluth getting II, against A. Primary
receipts were $4,000 bu. against 1000 bu
and shipments 247.00O bu against 3S3.O00 bu:
Wheat and -four clearances equaled 600 bu.
New York reported Is loads of wheat taken
and five loads of corn. The cearantes were a
disappointment. many traders having look for
a better showing.
After noon, few reports came from the
southwest of bad nature. Verhoef had one
stating that there had been actual damage around
Hodseman Later they began piling in but
to depend upon how low the thermometer may
so. Conditions certainly ripe for immense
damage in case of very cold weather, but, on the
other hand. 1t Is rather late in the season to
look for freeze. A Chicago bear wired that
there was a message from st. Louis telling of
some crop damage. in Missouri but nothing at
all serious. Armour got the message and ad-
vertised 1t. Per contra, the dry spots in Kan
sas, and Oklahoma have good rains. We can
stand. says this man. 10 per cent loss In acre
age and condition and then produce 400, 900. 600
bu winter wheat. and we are not going to lose
10 per cent either way.
The market closed at 1a@74Bc for May and
at 744 @74bc for July.
The cash market not very active. receipts
being too light to afford much opportunity for
business. Demand was only fair.