The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-16
Traders Believe the Low Tempera-
lures Must Have Caused
Material Damage.
But To-days Reports Showed the
Plant Protected by Heavy
Snowfall.
Foreign News, and All the Regular
Monday Morning Statistics
Bearish.

Minneapolis Chamber of Commerce, Feb. TO-
Cold weather over the northwest and extending
Tar down over the winter wheat country caused
feeling of nervousness in wheat this morning
and the week opened with the price tendency
even more uncertain than ordinarily. There
were many who had counted the continued
bearish news that carried the market off last
week to be the influence for further depression
again this week, and they went home on Satur-
day with thee feeling that there would be
lower opening Monday. The sudden turn
of severe cold weather caused them to change
their minds over Sunday, and, with low tenpera-
lures over the far south, there much nerv
BUSINESS on the part Of shorts lest the market
jump up quickly on reports of winter wheat
damage. But before the cold wave passed over
the southwest there snowfall from the
Iowa line as far south as Texas. This took
the bull import out of the weather. Minneapo-
lis May opened at 76Ac and held close to this
figure during an hour of fairly active trading.
Traders were changing their minds momentarily
aud the snall-lot buying about Offset the sell
Ing, the largest traders meanwhile awaiting
more definite advices from the southwest. From
~ below at Winnipeg to zero weather over
Kansas was the range. Various poiats through
Kansas wired reports of snow covering, the aver
age showing six to nine inches But the
and many points near Omaha reported fields
bare of and damage likely to result.
Worlds shipments were 1856 900 hu. against
e.72S. 600 last week and 6,411.o00 year ago
America shipped 2.S56,0GO bu, Russia 2,oOO,OOo
bu and the Danube ports 1872, 600 blu. Argen-
tine sent out 1850, 900 bu and India $4,000 bu
shows decrease of $4,000 bu. The visible III
creased by 541 900 bu making the total 1920
600 bu. Foreign markets brought nothing I'M
portant Liverpool closed I'D up and Paris
equal to about 1ac lower. Minneapolis hau o9z
cars. against 451 last year. and Duluth 81 cars
against 30. At primary points receipts We're
100 900 bu against $4,000, and shipments
100. 900 bu against 900. Clearances, 1885,
..5J bu wheat and -four.
Broomhall cabled: Wheat opened STEADY edS + ana
unchanged to I'D higher. there being no features
other than some little covering due to the Rus
sian shipments being smaller than expeciea:
After the opening no change occurred IN prices
up to 80 p. IN. General realizing. induced by
the fine quality OF the new crop arrivals caused
corn market to open lsd lower and to further turtle,
decline sad and I'D during the session Broom
hall cables that reseeding in the north OF FRANCE
where the crop was winter killed, has begun uI-
der favorable conditions.
New York had little export trade late IN
the session reporting 10 loads of wheat sold
The market closed strong Mt sc over satnr-
day May 763sc July 76A 6l76sc.
The ASH wheat showed no important changes
from Saturday. except that on No wheat ano
lower grades there an easier feelln9 que
In part to winter wheat receipts which nave IN
some degree cut into demand for the lower
GRADES of spring wheat. The good No. and No.
northern sold well and at prices about STEADY
with Saturday. Millcrs were fair buyers