The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-29
No Doubt That the Crop of the
Three States Is in a Bad
Way.
Black Rust Reports Received and
More Rain Falls Where
Rain Is Not Needed.
Bears Still Waiting for the Favor
able Turn That Does Not
Come.

Minneapolis Chamber of Commerce,
July 29-Rain over the northwest and a
fresh run Of rust reports put new life
irto wheat and moved September back
up to 90c by II o'clock The rain was not
only without benefit, but positively
bad in many places. North central North
Dakota can stand rain even now, but else
where in the northwest there has already
been too much moisture, and the only
effect of more rain is to put further
handicap upon the wheat already very late
for this date. The crop Is in a bad way,
and this might just as we'll be admitted
now as at any time. Nine points in the
three states reported black rust in the
fields this morning, and black rust is a
very serious thing. The crop Is not only
backward, but it is rusty and very spot
ty 1t needs good weather to bring 1t
alorg, and it has not had it. 1t cannot
stand any more rain. and 1t is being ratned
on day after day with only short inter-
mittent periods of clear skies. So long as
1t rains it cannot make progress, and the
continued soakings and sunshine following
develops rust quickly Some recent sam
pies Of growing grain brought into Min
neapoHs for exhibition have been very fine.
and, with everything looking green from
the car windows, and estimates of 200,-
600, 900 to 240. 000, 900 bu being made for
the total yield, it is not surprising that
many bearish ideas have taken root and
much wheat has been sold short. Some
one has taken all this wheat and, judging
from the action Of the market, is ready to
take more. Someone evidently believes in
dollar wheat before long, and certainly, if
conditions do not improve very soon, dol
lar wheat will come some day with a
rush. There are so many interests whose
natural tendency Is to take a hopeful
view Of things that the favorable side
of the crop outlook has been turned to
view for the past few days. But all the
optimism in the world will not make a
good crop unless conditions are favorable,
and the northwest cannot raise a good
crop while present conditions remain. OF
course they ought to change. This was
the talk July /. The fact that June had
been an unusually backward month was
the more reason, the bears said why July
would be a good month, but July has
not done much better than June Now
the argument Is that since June and July
have been so bad, August will be better.
This may be. but there are many who
believe that damage that cannot be I'M
done has already occurred. The bears are
waiting for the favorable things that do
not come, and meanwhile Minneapolis Sep
TENDER wheat is above 90c, and there are
many who believe that it will reach 81
under any circumstances.
Primary receipts 500, 900 bu, against
$4,000 shipments $4,000 against 262 900.
Wheat and flour clearances $4,000 bu.
Minneapolis elevator stocks decreased
about ATS 900 blu for the week.
Minneapolis received 65 cars against
III. Duluth SIS against 1T. Chicago 100
against o. Kansas City had 241,OOO bu
against $4,000. ST. Louis $4,000 against
$4,000.
The Modern Miller says: Favorable
weather this week for the harvesting of
wheat has permitted this work to be
practically completed in the winter wheat
belt. Reports of disappointing yields
he
gions, but the average in general is up
to expectations, and in Kansas and Ne
braska show a loss in actual grain much
below early estimates. The grain re-
ceived at the mills and at the markets
shows the effect Of rains during harvest,
in that the grade has been lowered and
much of it is light weight thru failure to
fully mature a..
September closed at 90Bc, December
SSc, July at $1001a.