The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-13
Little Doing in the Pit, and a Halt
ing and Hesitating Disposition
in General.
Meanwhile the Cash Situation Fa-
vors Strength Especially Here
in Minneapolis.
This Market, Duluth and New York
Steady, but Winter Wheat Mar
kets Reflect Weakness.

Minneapolis Chamber Of Commerce. May a.
The wheat market was without feature this NOR
ming and dull and lifeless. Opening trades were
on the narrow range from 75aic to 1914 @75hc
for July, and after half hour of fair activity
and moderate business made up principally OF
trades In small lots the market became very dull.
Minneapolis, Duluth and New York still showed
a relatively stronger tendency than other mar
kets, as was quite natural. New York has the
export business. which. while nothing wonderful,
II steady and pretty we'll up in volume, and ,Du.
luth has continued export inquiry and occasional
sales to 60 out. This fair demand Tor cash
stun. and the inference that on any material de-
cline considerable waiting business could be en-
tered, is offset to any weaker sentiment In
these markets and is even strong enough to turn
the feeling the other way. In Minneapolis few.
care to sell the July option short In the face OF
the light receipts here. the good demand, and
the fact that terminal stocks are steadily melting
down, about $50 900 bu having gone out Of stock
here so far this week. Neither Is there any.
thing in the statistics outside Of Minneapolis to
encourage weakness. Chicago had, in twenty
iur hours, SIS, 900 bu wheat and shipped out
$4,000 bu. Kansas City received 80 cars,
against 81 last year and St Louis 25. against "a.
Coming back to Minneapolis there is showing
Of 50 cars in, against ia last year, and of the
63 cars Is contained winter wheat. In these
b3 cars there were 51,15O bu wheat, the total
received, while at the same time Minneapolis
shipped out s4,155 bu, 3ooo5 bu more than
received, some of this outgoing stuff coming from
the 27s cars loaded out of local elevators yester
day. The northwest, as every one knows. Is
pretty bare Of wheat. In short, 1t is hard to
see how be very bearish looking at the
legitimate outlook as based existing condi-
tions.
Chicago and the southwest are, of course, more
directly Influenced by the winter wheat outlook.
The Iowa state report is out to-day and 1t
makes everything very favorable. The Missouri
state report is out also and is given here in full,
as it is In slightly different tenor from the last,
and, while still favorable in the main, takes
note of deterioration Of important ma
ture. The report says THE mean tempera-
ture of the past week was very near normal in
all 1( 49, fo<4
part, where there marked deficiency, and
there has been about average amount of sun
shine. Over portions Of the southwestern sec
ton. the rainfall of the week ranged from one
to over two inches, but elsewhere 1t gener-
ally less than half inch. Many localities
are receiving normal warm showers now needed.
Wheat continues to deteriorate in portions of
central and southern sections owing to damage
by rust and insects. and In some Of the southern
and eastern counties it is greatly in need of
rain. In most Of the central and northern
counties it continues in fair to excellent condi-
ton. The earliest Is now heading In the south.
ern counties, and there is some complaint that
1t Is very short. In few of the extreme south.
ern counties, the crop was damaged by frost
The weather reports this morning from the
winter wheat belt were generally favorable
altho st. Louis had some new damage reports
The Orange Judd Farmer has figures out on win
ter wheat making the acreage somewhat larger
than the late government report, and putting
condition of 92.6. The yield. based on mainte
600 bu.. :. - =
The foreign reports were Indifferent excep
that Paris was lower by A@1Ac. The weathe
in and about Paris is fine. Berlin has fin,
weather. Liverpool closed I'D lower. Broom
hall cabled that Liverpool wheat opened inactive
and unchanged, and remained unchanged durn,
the entire morning session, the effect of th
steadiness Of American markets having been off
set by the continued fine weather in both tn
United Kingdom and the continent. Corn opene
unchanged. but later prices advanced ~ on tn
unfavorahle American weather and few offer
ings Broomhall cables that present indica
tons point to continued large European require
ments for the remainder of this season, and prob
ably during next season.
Primary receipts were 215 900 bu, agains
$4,000. and shipments $4,000. against 40. OO(
New York reported 25 loads sold for export
The market closed at fractional declines fro1
yesterday; July. 1855 @76hc; September, 6s1
6SMc 1>
The cash market was quiet owing to ltRl
receipts and, light offerings. There was good a
mand for milling wheat, spot or to arrive.