The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-17
Portions of the Spring Wheat Area
Will Need Good Rains Be
fore Long.
Minneapolis July Wheat Advances
to 795sc and September Sells
Above 72s4c.
Corn on the Boom, Chicago July
Passing SOL ac-All Markets
Strong.

Minneapolis Chamber Of Commerce, June IT,
Quiet steadiDess with light trade and a firm
tendency were the features In the speculative
wheat market. Being Wednesday there was
little of Importance, statistics, and no new
crop reports worth noting. The weather was IA
Syorable from end to end of the country. Winter
wheat is being harvested under conditions as IA
vorable could be desired, and the weather
over the spring wheat district is fine. For to-
Il night and tomorrow the forecast Is for fair
weather, slightly warmer
:. Some little attention is being directed to the
territory west of the Red river valley and just
south of the Canadian line, where the ground
is dry and rain would be welcomed. Everything
4 is all right apparently and even without rain
4 for time yet no very serious damage is likely
to occur. Still the trade has noticed that in the
daily reports OF the weather office showing the
rainfall over the northwest little precipitation
has been indicated over this particular ground.
To-day the report is of cloudy skies and the
promise of wetting down. Several showers
have fallen during the past ten days and have
relieved the situation from day to day but good
l6oaking rains would be welcomed. Some OF the
larger grain houses here have had reports from
points: like Grand Forks, Bismarck, Casselton
and Moorhead giving the views OF farmers VINO
came in and all the farmers. complained OF dry
weather. None Of these reports found their
way to light, the houses figured that farmers
are always quick to complain, and they did not
want to put out anything unwarranted, and aside
from this n good rain is likely to blow up at
any time and soak the country. This morning.
however, the pit crowd, the more speculative ele-
iment were looking into this matter They had
read the weekly government crop report last
night and noted that the government said 1t Is
itoo dry for spring wheat In portions OF the Da-
kotas. Hence they are now watching this local
ity as afording possibility for speculative
factor later. and If rain falls Tor the re-
mainder Of this week 1t Is probable there will
be grunble heard from the district In ques-
,tton and that the bulls will be quick to seze
upon it for Strengthening effect. There Is no
Question at all that it is too dry in many local1-
ties, but the wheat is in good sha pc to stand
against 1t.
, Broomhall sent cable giving an estimate OF
the French crop which does not yet pretend to
figure dow to the fine point, but puts 1t at 3O4,
1000, 900 to 800, 900 bu. This Is on the same
basis which gave an estimate last year OF 500,
600, 900, and an average for five years of 34S,.
600 900 bu 80 there Is no question that. France
is to be short little this year and will need
Imore wheat.
with rise in Chicago July over to 5OAc, which
WINS help to the strength in wheat. ~
September wheat sold to 72h @72ssc just at
ter noon July going over 7eAc.
! Minneapolis received 213 cars against 26z
last year, and Duluth had 40 against 1s. Pri
mary points received Gil 900 bu against 592, 00t
last year, and shipped 23s.oo against $4,000.
Wheat and flour clearances were 331, 900 blu.
4 correspondent Of local house after per
,sonal investigation sums up corn conditions II
southern Kansas discouragng. He reports ap
Ipearance as backward fields sadly In need OF
cultivation and many complaints OF dry
weather. ~ .
Broomhall cabled: The closing frmness ii
America caused fairly steady tone in Liverpool
!at the opening, altho prices were unchanged
Later the market turned extremely dull and al
easier undertone developed duue mainly to lack Of
speculative support. Old form July sagged of
sd, the other deliveries being unchanged a
1886 1p. m. - t---~ ~. d.. -=sn..., ..s .'.,5.
The opening In corn was firm at I'D advance o.
the higher American cables and the unfavorabl
weekly government weather report. During thu
session there was more less realizing, caus
a tho ctionn of in 10 delivery.
while the distant months remained unchanged
Paris weather, rain and cool again to-day.
Berlin, fine, temperature Ga. .. .-...z.
The local market closed strong, July at 7oss G
7akc, September at 72M @72Ac.
The cash market was active with good demana
for all the grades.