The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-04-03
Argentine Shipments Ran surpris-
ingly Heavy Which Brought
On Early Liquidation.
But the Foreign Markets Were
Strong and Foreign Crop News
Strengthening.
Paris Had a Big Jump in Price
News From France Less
Favorable.

Minneapolis Chamber of Commerce, April B.
Almost 1000, 900 bushels of wheat sent out OF
Argentine this week.-Mrs. was the big bear item
i'll the speculative market this morning. The
grain trade had not expected so heavy a show
ing, and i'll consequence there was enough sell
ing in the pits to weaken prices all around:
Minneapolis May selling of to 1890 Good
buying orders came out on the break and In
few minutes the early weakness was cast on
and May was back to 74c The foreign news
brought the quick recovery. 1t was market
Of quick starts and sentiment tending all one
way, and then the other way again as quickly,
with heavy break apparently impending, and
then advance quickly impending, and the
market went through it all in very moderate
range Liverpool was up IA at first, but the
Paris was up equal to 94@lc. There was
strength all through the foreign markets. The
wire service from the east was poor and the
trade had little in the early news to account for
the generally stronger feeling. little later
Broomhall cabled that his agent at Havre reports
that the French crop will probably show some
deficit. and that from present appearances France
will need to import some wheat. The bulls took
this as meaning really more than it said and
were inclined to play for fair advance The
local decrease in stocks the small contract
stocks Of wheat in our country the recent good
rates for export, the smaller visible supply, and
now. as later development, the reports of less
favorable crop conditions in Europe-these were
the bull points. The bears stood pat on their
old ground and argued that the winter wheat
promise is still maintained to this date, and
that every week now means just that much near
er to the harvest, and that it will be a hard
proposition to bull wheat in the face of this
and the fact that Argentine is throwing wheat
into Liverpool at good rate, having shipped
out since Jan. 1, 1880, 600 bu, compared with
II, 720, 900 bu last year.
Paris closed &c higher, and this started inquiry
by cable direct as to the cause There is a
squeeze on, 1T was learned in April wheat in
Paris and it was on this, principally, that the
advance vas based. From the north Of France,
Broomhall says, the reports show the weather
too rainy and cold but the promise is good in
general. Broomhalls agent at Lille says the
was expected. Budapest cabled that the crop
Of Hungary is coming on favorably. London
cable to Chicago makes the European wheat
z in both wheat and -four. year ago European
wheat and -four stocks were equal to g. 604 900
s,s96ooo bu, against 2,424,oOO last week, and
100000 bu a year ago.
Minneapolis had 222 cars, against 49, and
Shows weekly summary of crop conditions was
bearish. the condition being placed at IS.
The Modern Miller says the winter wheat crop
maintains high average condition, though COM
plants are being received that the plant is not
looking as we'll as some time ago, and there are
reports. mostly from Illinois, of Hessian ny and
other field pests. AS these statements come
from from comparatively few localities, they can
not be regarded seriously. The movement Of
wheat to market is larger, farmers are in
clined to sell.
Primary receipts 396, 900 bu, against 299,
900 bu, and shipments 1SS, 90 bu. against 337
600 bu Wheat and -four clearances equaled
600 bu.
The Bradstreet's figures show wheat and -four
clearances for the week of 8, 100. 900 bu against
29o4,O0O blu last week and 4,447, 900 bu last
year.
New York reported eighteen loads for ex.
port. '.' "''@'.
:. The market closed in unsettled mood and with
the. tendency very uncertain. May closed at
13Ac. July 1876, and September &c.
Millers were better buyers of the cash wheat
today and took about everything in sight al
&c over for No. ! northern and lie over for No
northern. The low grades were we'll cleaned
up ALSO