The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-03-23
May Breaks Under 937sc, but
Rallies to 951sc, Closing
Very Firm.
First Scattered Reports Of Wheat
Seeding Are Now Beginning
to Come In.
Some Export Business at the Sea-
board-News of the Grain
Trade. .... .

Minneapolis Chamber Of Commerce.
March 23.-Heavy selling broke wheat this
morning. putting May and July to around
94c by 1880. The early selling came IN
part from the southwest. the later pres
sure from the northwest. Spring is open
ing and the disposition is to sell. Warmer
weather Is reported from the central
southwest, and more rains are likely
California had a soaking rain. The north
west Is getting ready to seed down the
land. and some reports Of early work are
already in from South Dakota. Even the
foreign markets now have the spring
fever and Broomhall cabled that the Liv-
erpool weakness was largely on the spring
weather news from America. The close
in Liverpool was 1s@Ad off, and other
foreign markets were weak and rather in
different. Kansas City had only 20 cars,
which was something Of strengthening
item, but 1t had little effect. No big
buying orders could be seen in the pit,
but there were few round lots on sale.
Trade was not large on the whole.
If reports of seeding continue coming
and they will come from now on unless
the weather turns bad-the effect is like
ly to be depressing upon prices. There is,
already existing, the entirely reasonable
expectation that the acreage this year in
the three states will be much larger than
last year. There are half a dozen rea-
sons why this is to be expected, and
higher wheat prices Is only one reason.
Let seeding now begin early and under
favorable conditions and it cannot fail to
encourage selling. There Is, on the other
hand, much talk Of lighter receipts in the
southwest, and already some evidence Of
a falling off, At this date it is early to
talk about the government report Of April
10. but this is year somewhat out Of the
ordinary, and the trade is taking an act
i've interest in the forthcoming report
earlier than usual, and is basing trades
somewhat upon expectation Of it's char
acter, even at this time, some sixteen or
seventeen days in advance. Advices from
the southwest say it is best opinion there
that the report will be sensationaly bull
1sh. but the weather between now and
April will have much to do with this.
Minneapolis received 236 cars against
1T, Duluth 80 against II, and Chicago 8
against II. Kansas City had &c, 900 bush
els against $4,000, and St. Louis p 900
against %, 000
Primary receipts were 404, 900 bushels
against $4,000 and shipments were $685.
600 against 100000. Wheat and flour
clearances, without report from New Or
leans, were 124. 900 bushels.
The southwest is without moisture this
morning. No rains in Kansas or Okla
homa. There is practically no moisture
anywhere west of the Mississippi river
put there are heavy rains in southern
Illinois and all over the Ohio valley. In
Indiana, Ohio, Kentucky and Tennessee
temperatures are seasonable. The mer-
curry Is above freezing in all the corr
states. In the extreme north at a. m
the mercury was zero to IA above; ir
the Dakotas and Minnesota, to 80 above
IN Iowa and Nebraska. 80 to 40 above
and In Kansas, Missouri, illinois, indiana
and Ohio, SO to Sc above
betore the close there was talk of goot
cash business in outside markets, and 1.
loads were taken for export at the sea
board. The effect was stimulating ant
prices recovered the early decline and wa
strong near the end Four local flour MILL
closed and more will probably close, bu
this has apparently spent it's force.
Later advices from Kansas City were
more favorable to strength and indicat,
that despite the beneficial rains some 10
.cal1ties have not ceased complaining.
May closed at 951sc: July at 95Ac: Sen
TENDER, S2Bc.