The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-06-01
Bears Can Do Little Until the
Government Spring Wheat
Report Is Disposed Of.
Meanwhile Crop Reports Are Not
So Good and Many Traders
Are Short Wheat.
Flour Mills Grinding Visible De-
crease 5,532,0OO Bushels
July Closes 941sc.

MINNEAPOLIS Chamber Of Commerce,
June Interest this morning turned
back into the matter Of wheat supplies
from old stocks and the trade figured a
little as to how much old stun can De
counted upon before the new wheat comes
In OF the visible supply Of 2l,OOO,O 600 bu
in America, the big end, or S,4o0,00o pu, is
at Minneapolis, where the wheat VIII De
used for milling purposes. AT Duluth there
Is a total of about 3,25o.OOO bu to-day, OF
which about onehalf Is thought to be sold
to eastern millers. If the wheat In Min
neapolis and at Duluth and the Canadian
storage points be taken out, there Is only
about 4, $50 900 bu left in sight in the east
and southeast. The Minneapolis mills,
meanwhile, have resumed grinding ana
yesterday Chicago sold little hour TO
GLASGOW the first in months. This was
only small lot, and it was high-grade
stuff that would probably have been taken
sooner or later anyway. nevertheless IL
was foreign flour business and nothlng TO
hammer wheat on. The return OF specu-
lative interest to consideration OF old crop
supplies was due partly to wet weather
over the country. reports OF rust IN some
winter wheat sections and some gossip
of Hessian fly in Illinois. Anything that
will delay the movement of the new WIN
ter wheat to market, or tend to SEND IN
poor lots among first arrivals, would be
bullish. The winter wheat crop IS small
one at the best. Let anything now arise
to throw doubt upon the quality and It
would be very serious.
How much of an increased movement
June will bring is hard to guess. M1nne-
apolis had 17S cars to-day. against lo6.
and Duluth So against 26, but Chicago
only 81, against SO. st. Louis got $4,000
blu, against II, 900, but against the Kansas
City run Of 107,O 900 bu there was no COM
parison, that city having had flood trouble
O year ago. Total primary receipts were
i,et 000. ShiDn1entS 8.
1924 900 Blu, against 100000. Wheat and
flour clearances, 3,0a0 bu.
9 The visible, according to Bradstreet's,
decreased $4,000 bu. there being de-
crease of 1892, 900 bu in the quantity east
of the Rockies and 100000 bu decrease IN
the quantity af1oat. 81.
A thing to be thought about now Is the
government report. Officially speaking, we
know nothing about spring wheat as yet
AS matter Of fact, we know much ABOUT
It, and one thing know Is that 1t Is
very late, but since 1t Is the government
figures that the trade usually waits for
ft Is about time to consider what they Will
show In the June report. Last year the
spring wheat condition June l was 1913
If it Is as high this year 1t will be a mos
surprising thing. for while there are some
good counties in the three states, there are
many where conditions are known to bt
very low. A year ago the acreage In TIT
report of June / was in excess OF 1900,
900 bu for spring wheat. It may reason
ably be questioned If 1t is any larger thi
wear. Given bullish government spring
wheat report--quite a possibil1ty-on to1
of what is already known Of winter wheat
and supply situation very bullish, and
is hard to see where the bears In whea
are going to do very much. Chicago sal
there had been a sale of 5000 bu No.
northern wheat at 34c bu in store Their
and according to this the bears are sellin
July about &c a bu under the price Of cas-
wheat.
It is expected that the Kansas repor
will be issued to-day, possibly late. Tn
state bureau made no report in May. TIL
April condition was SO, while the govern
ment made it 80. A year ago the conditio
was 50 on the area left: some has bee
destroyed.
July wheat closed at 941sc and Septem
Der at S2hc.