The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-04
The Market Opens Firm, but Gives
Way on Selling Towards
81 the Close.
Little of New Interest From the
Southwest-Foreign Mar.
kets Firm.
Fair Decrease in the Visible-News
and Gossip Of the
Trade.

Minneapolis Chamber Of Commerce, May A.
Nothing Of important new influence was felt
In the wheat market this morning and tho
week opened with trade quiet and the market
steady. The active options July and Septem-
Der, opened close to the closing figures of Satur-
day, and did not change much up to noon IN
terest turned again to the southwest but there
was little coming of nature to affect the mar
ket. San Francisco sent dispatches of about the
same general tenor those of Saturday. 1t Is
dry considerable area through the wheat
raising districts Of California. The temperatures
range from to IL degrees above normal ana
there has been precipitation for some days,
nor was there any rain relief in sight this
morning At st. Louis there local indu-
ence. that Of the closing OF some 10 hour mlils
in and about the city owing to labor troubles
This had no important effect outside OF the st.
Lonis cash market. 81.
The foreign markets were strong and higher
except Antwerp. which unchanged. and Buda-
pest. which was oft equal to about 1850. Paris
was up about &c. Berlin &c higher and Liver
pool closed Hd higher.
Worlds shipments were s,53S.0o0 bu against
10, s01 900 last week and s,656,Ooo year ago
America shipped a.41soUO bu. Russia 2,o4o 600
but the Danube 664, 600 bu Argentine 2,416.OoO
bu. while the report from India was DELAYED
The quantity ahoat at 35,2oo.ooo bu decreased
100000 bu.
900 bu. minneapolis received 300 cars against
2s1. and Duluth Is against 90 The visible de.
creased by 100000 blu, which brings the total
down to 33, 459, 900 bu.
weekly Hsrriss review: The center Of s r.;
been slightly modified. while here the situation
has undergone a most radical change for the
worse. The extent of the damage here cannot be
known until we have a little favorable groWins
weather, but one of its most important effect,
has been to greatly revive speculative interes,
n wheat. The public is rapidly coming to accept
he theory Of crop damage if the Spectator ame
tinues to buy cash wheat and to add to his pre-
viously liberal holdings OF futures. He Is par
ticularly partial to the September, which Is at I
Germany Holland and Belgium have more thai
an ordinary interest In our speculative market
at present The monthly report of whea
stocks northwest shows that supplies in countr,
elevators are practically wiped out. They aggre
gate only SOS. 600 bu all told, and the total i
Minneapolis. Duluth and the country ia 6.1S2 90
There is still very large short interest In May
altho scattered shorts have been coming In fror
time to time for a week or ten days; There wer
fairly liberal on Nay or nsct yd t
wheat landed back with the original holders. Tn
leading longs in the May are evidently willing t
supply all wants on sharp rallies and are appa1
emily opposed to any radical action either way
Pacific Coast prices are hardening. and we ma
expect to hear some talk Of dry weather damag
there. Until the uncertainties regarding tn
Thursday nights in the winter wheat belt al
cleared up it will be impossible to accurate
judge the course Of the market Wherever tn
wheat has been Jointed it has probably been hur
but. the reverse is probably true where it is nj
Primary receipts were 900 bu. again
433 600 bu, and shipments 47,OOo bu, again
$4,000. -e,
Twenty three loads We're reported for export.
The market was weak towards the end ar
closed lower May at I47sc, July 1850, septer
There was excellent demand for the cat
wheat. -