The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-30
This Represents Steady Decline Of
41ac From the Recent High
Point.
Rains Everywhere in the Northwest
Last Night and This
Morning.
The Bears Jubilant-Bulls Still Con-
fdent of Ultimate Re
covery.

Minneapolis Chamber of Commerce, June 3d.
Rains and more rains and cloudy skies every
WHAT ,hs Suiis IN Wheat had to face this
morning Scarcely point on the map was
without rain, altho the precipitation varied
greatly and while heavy over certain districts
light in other districts and at some Of the
important Red river valley points there We're
very heavy rains, Notwithstanding the general
DOWNFALL from end to end of the northwest.
TheN is not the slightest doubt that the bull
sentiment that arose from dry weather in the
northwest has been completely dissipated, and
the rains now great force upon the bear
side. Still the market this morning was by no
means so weak as the average trader had eX.
pected to see it. September wheat opened a full
cent down at 761sc, and this break apparently
covered fully the changed feeling over night,
for the market would not go to 75c but rallied
twice. T5Ssc and again to T51ac. After
q while, however, as the rain reports began COM
ing In thick and fast, the bulls lost their grip
and the market ranged lower despite some good
support. Anamoose, n. D., and Redfeld and
Huron. S. D., We're points reporting good rains.
heavy enough thoroly soak the ground. The
500 line report showed rains of two hours dura-
ton all along the Bismarck extension Valley
City. Minot and Portal sent rain reports, but
the best Of all was the report showing rain Of
about three hours from Glenwood to Elbow Lake,
as this covers district where the lack Of
sufficient moisture was beginning to be felt very
seriously. A complete summary of the early
rain reports is as follows: Rochester, Red Wing,
Fairnaont Eau Claire. Faribau1t and all over
this section last night and raining this NOR
ming; generally calm; temperatures 66 to 10.
Sioux City, Window st. Peter cloudy; rained
last night; temperatures. &c to 80 Larimore
Grand Forks, Valley City, Casselton, Staples
st. Thomas, Mayyille, Crookston, Brainerd, War
rem Winnipeg, Jamestown Detroit City, Wadena
and vicinity, cloudy and calm; temperatures 60
to 3d. and raining at nearly all these points and
rained last night all over this district. Also at
Benson. Wahpeton and Appleton
The only thing suggestive of change in the
situation is the fact that the low barometer that
yesterday hung over the northwest shifted fur.
Their south and this morning covered Iowa and
portions Of Nebraska, this making it look like
rains for the winter wheat harvest fields, which
would be bull factor.
The Minneapolis grain trade is inclined to the
view that no DANA &c was done by the dry spell
and that conditions following the rains will be
almost perfect. Yet from the reports that came
up to the beginning of the rains 1t may be
judged that the danger line had been reached
over considerable area. and that the line had
been crossed in some Of the dryest districts
Preston the bonanza farmer of Blanchard
n. D., wrote to Maynard s Co., Chicago June
81: 81 most of the grain men do not be-
lieve the damage we have suffered in this sec
tIon Of the country If they would send good
men to look the territory they could find
1t is not exaggerated. 1t is five weeks since
have had rain. have talked with some
of the best grain men in the country, and with
two or three who have travelled thru Cass, Trail
and Steele counties and they all say, with the
best of weather and rains right away we cannot
make over half crop. When grain is so short
and thin and has stood still so long and when
the stools die down and every day the crop
looks thinner and when around July 1 you can
see the drill entirely across the fields, you
can pretty nearly guess that the crop has been
damaged a good DEAL
The Illinois June report makes the winter
wheat condition Il, drop Of 20 points from
May 1. this due to injury from Hessian hy and
chinchbugs. The Kansas report of June made
the wheat area 5,7OO, 4s5 acres and yield esti-
mated at eo.ooo,ooo blu AGAINST Sd, ooo. 900 last
year. Secretary Coburn of the state board of
agriculture is out with Enthusiastically big
report Kansas he estimates, has the biggest
crop in all her history, and will produce 1OO,-
10000 bu, and break her record OF 1901,
when, according the authority, she pro
duced 99,O75,O00 bu.
Minneapolis received 224 against 1913 last
year. and Duluth 45 against II. Primary points
received 36S0OO bu against 500, 900, and shipped
$4,000 against 445,000. Wheat and flour clear.
ances equaled 1SO,O 600 bu.
The market broke to 1880 for September be.
fore the close and the close was weak at Low
point
The cash market was active but prices were
lower all around, altho holding firm relative tc
the option =-s=5ss -