The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-18
September Sells OFF to $500, Decem-
Der to 1870 and May Closes
at Sligo.
New Crop Advices From Australia
and Argentine Help the
Bears Greatly.
Exports for the Week Very Light
Local Stocks Increase
100000 Blu.

Minneapolis Chamber of Commerce, Sept. 10.
still another day of free selling IN wheat, OF
weakness and lower prices OF discouraging .asa an
and discouraged bulls. September wheat was SO
sick that at the opening Sic was the pest hsn.e
obtalnable Other options We're OF as well' Ne,
eember to lo@c and May TO Hnar. and nrices
weakened the Offering of very moderate lols'
Chicago was bearish as ever ana sent out re-
ports even more depressing than those OF yester-
dGy. The foreign markets were weak ana lo"el'
which was reason for weaker 1eellhs az eA
port centers, and with 1t all there was Detter
weather over the west and southwest ana the
prospects of good weather to come. Parls was
a full cent OF and Liverpool was lower at the
opening. An Improvement is reported ,n LUG
weather outlook all continental europe.
Reports from Argentine We're confrmatory ol
earlier estimates of increased acreage ana WIN
them came cry from new quarter Anst ran.t
cables brought the gist OF preliminary report
covering Victoria. where the promise Is Tor ~
4.SOO,OO0 bu crop. Traders will remember the
stimulation to prices caused by the poor aus.
tralian yield of last season, and the important
bull news that came later on from the racine
coast when Australian demands became so Keen
that the coast scraped bare Of wheat TO
meet It, And it will be remembered that even
later than this some wheat from the CANADIAN
northwest moved west to the coast and down 10
Australia, while the Minneapolis flour mills en-
tered orders for -four to go to Melbourne and
Sydney, and even away round coast to ADELAIDE.
Hence the failure of the Australian crop IN
significant the figures may appear relative 10
the worlds production) was an Important factor
for price maintenance. and so the bears were
pointing this morning to the report OF goou
yield in prospect potent bear argument.
India is shipping heavily this week, ana one
authority nazarded the estimate that IN the e
Monday figures Of worlds shipments india VIII
show mp with 1.016,O00 bu.
The market stands to-day on uncertain ground.
The bulls say there has been break enough and
the market should react. The bears point
out that prices are 12c to 1ec higher
than last year all around. The bulls say this is
so, but that the worlds supply situation N mas as
Changed sufficiently to warrant range Ioc ~
25c higher nor can it be denied that the bulls
have the figures to back this up. Still the
hears come buck with the great argument that
wheat cannot be bulled by America alone. How
ever true may be the argument OF the bulls.
and however certain 1t may be that they Will
work out finally the faet remains rnat at the
is selling her wheat freely. American exporters
have been, and even yet are doing business under
difficulties, and such news as comes respecting
new crops and prospective future supplies Is
bearish. ..s. rss..s
Minneapolis received Ats cars against 49, ant
bu against 171,00o bu. Chicago had So car:
against pa, and Kansas City 1873 cars against
142 Primary receipts were 1857. 900 bu against
1887, 600, and shipments 900 bu against 5s7,
600 Wheat and -four clearances, 100000 bu.
Sixteen loads were reported taken at New Yorl
for export
Minneapolis stocks have increased $4,000 bt
far, this week.
On the weather map the temperatures shown
are higher than yesterday, considerably higher
in the extreme north. The Nebraska tempera
lures range from &c to 40; Kansas. 40 to So
Iowa, IS to 40; Illinois AZ to SO; Missouri, 4;
to 80. Clear northwest and everywhere else
The spring wheat territory has splendid condi
lions for threrhlng and the movement. Witt
the exception OF Dubuque, where it is 80, and a
eCencordia, where 1t Is 40, and at North Platte
where it is 80, the temperatures are not coll
enough for More than light frosts. Warmer in
dictated. and clear
Il The Modern Miller says the movement con
tinucs liberal Of winter wheat from the south
west and west principally of hard winter but l
small from other sections. The quality of tn
Nebraska crop Is further lowered by too nue.
moisture and unfavorable weather. Rains hav
fallen in sections where fall blowing bein
delayed by dry weather.
Great disappointment felt by the bull
when the Bradstreets report of the clearance
for the week came In showing only 100000 Blu
the lightest in long time. Prices broke agai
and Mt the close December down to 79hc
May to S11ac and September S39sc, all closin
weak Mt low point of the day.
No. I northern sold of to Soc, altho som
business was done as high as Soc. No. 2 north
ern sold from S4c to S21ac. Sellers found
hard to get top figures for anything.