The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-05-26
But Made the Traders Very Hest
tant and the Market
Marrow.
Crop Reports Rather BeaIish and
Trade Very Light in
ALI Pits.
Receipts Light - Local Stocks
Decrease 725,000 Bushels So
Far This Week.

Minneapolis Chamber Of Commerce,
Nav 26-Wheat stood against very UNI
certain influence this morning-the sud-
den death Of Kaufman, the big st. Louis
specuator. Just how to take 1t puzzled
the crowd In tho pit. Kaufman was
trader who was so frequently long or
short a line of 100000 or 100000 blu
that such commitment on his part no
longer occasioned any widespread COM
ment. That he might now be long or
short a big line and that the effect OF
evening up might easily move the market
cent or two either way was what the
pit crowd had to figure upon No one
knew how he stood and SO the crowd
waited, the longs ready to unload and the
shorts ready to buy in once the market
took on decided move either way. TO
noon nothing developed and the market
held in narrow range, Minneapolis July
selling principally from 93Ac to 93Bc.
The last big business Kaufman did IN
Minneapolis was on the short side OF July,
when he was reported to have out about
100000 bu, but this was some weeks ago.
Aside from this there was a bear1sh Price
Current report, and other bearish gossip.
A Chicago bear sent the following broad
cast:
"Those who feel bullish on wheat are
making statistical comparisons Of the
present with May, 1898, the year of the
Letter deal. They call attention to the fact
that the visible supply in the United
States to-day is smaller than it was that
year. The total visible In the United
States and Canada Is about 100000 bu
greater than it was then. They do not,
however, state that the wheat crop Of
1897 in the world was only 2,226.00 while
the wheat crop of 1908 was 1928, 900, 900,
nor that, In consequence thereof, the
worlds visible supply is now $4,000, 900
against III. 900, 900 at that time. Further
more the worlds wheat crop Of 1898 only
proved to be 1884, 100000, while the pros
Epect for the present worlds crop is
much in excess of that"
Minneapolis received 80 cars, against
119, Duluth Il against 8, and Chicago IL
against 49, st. Louis had 1900 bu
against $4,000. and Kansas City $4,000 btu
against $1,000.
The Price Current says: Fourth con-
secutive week favorable for wheat. No
adverse influences at present, but plant
late in development. Corn planting pro-
crossing rapidly. Much reseeding Of earl
planting. Large acreage, late start, but
good soil. Conditions fair to poor In the
Isouth."
The weather map shows rains general
thru the corn belt and extending almost
from the Rockies to the Atlantic. They
are heaviest in Missouri river district.
1.-THE rains have progressed east and south
/
icept In southern Illinois. Temperatures
are stationary northwest and higher in
extreme northwest, where it is clear.
There are light rains in South Dakota
and light In southwest Minnesota
Temperatures In the extreme northweat
8s to 81: northwest, 36 to 81; west, 46 to
So; southwest, 4s to &c. Light rains ex-
tend as far south as Oklahoma and are
general in Kansas.
Broomhall cabled easiness in American
markets yesterday caused a loss at the
opening Of Nc. Later 1t recovered on
buying by a large house. which was in
duced by rumors that wheat is sprouting
in an Argentine port Corn opened un-
changed and continued without feature,
being strong but trading neglected.
Primary receipts $4,000 bu, against
1884, 900; shipments 291, 900. against 243, 900.
Wheat and flour clearances 103, 900 bu.
Minneapolis elevator stocks have de-
creased $4,000 bu for the week with one
more day to count in.
Minneapolis May wheat closed at 94h q
o4soc; July, 9a%093Ac, and September
S1MC.