The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-06-04
But the Market Has a Strong
Undertone and Apparently
Tends Higher.
July Ranges From 961sc to 9514c
Receipts Not Very Heavy
at Any Point.
Rains and Flood Danger in the
SouthWest-Flour Mills Are
Grinding.

MINNEAPOLIS Chamber Of Commerce,
June 4.-More rain and more flood reports
from the southwest were the main 1nfiu-
ences for strength In wheat to-day, but
there were number Of other bull1sh
things as WELL Budapest was up again,
making a 21ac advance in that market in
two days, this on bad reports from Ru-
MANIA where the wheat has been dam
aged by drought. The local market
started off firm and higher at 961sc. and
failing to advance further came In for
free selling from traders DESTROYS or even
ing up over Sunday. Against this selling
there was a steady sag and loss OF almost
q cent. The undertone Is very firm and
higher prices next week would not sur
prise the trade. The rains have been very
heavy everywhere. In many northwestern
districts, as some of the 500 line counties
in North Dakota, rains were needed and
great benefits will result, but in many
other sections too much rain has already
fallen. How heavy the precipitation has
been Is shown by the following, from the
weather map Of this morning: North Da-
kota-Williston. raining, measurement so
far 1.12 inches; Bismarck, raining, lao.
Observation-Disclosures. LA; st. Paul, .98.
South Dakota-Rapid City, raining. AS;
Huron, .98. Nebraska-Scattered light
rains Kansas-Concordia, .9S; Wichita,
.16; Dodge trace. Oklahoma-Oklahoma
1.6S; Kansas City. raining, "a; st. Louis,
raining, 1.54; scattered showers in Iowa,
Illinois, Indiana and Ohio.
With this there is a wet forecast as fol-
lows: Illinois, Indiana, Missouri Michi-
gan, Wisconsin, Minnesota, Iowa, showers
and thunderstorms tonight and Sunday.
Nebraska. Kansas, showers tonight. fair
Sunday. Dakotas, showers tonight and
probably Sunday.
The Commercial West says: Wheat is
making fair progress in the northwest
with the weather cool. The growth is
slow. This Of itself Is not unfavorable at
this date, but warmer weather will be re-
CURED soon to push the plant There have
been general rains, and some sections
needed moisture. The southwest is hay
Ing too much moisture for best results,
especially in Kansas. The Ohio valley has
not improved beyond the natural expecta-
ton for the wheat that was not plowed
up. The yields In Michigan, Ohio and In
diana will be small reports suggesting
not enough for bread and seed. The Pa
ciflc coast condition Is maintained in Ore
gon and Washington, but California will
be disappointing.
Broomhau estimates worlds shipments
on Monday to run to about 9,500,0 600 blu,
against IL, $50, 900 bu year ago. Austria
liza shipped $4,000 bu this week, against
$4,000 last week and nothing a year ago,
and India 1,944,0o0 against 1,S40,O00 and
1,460,000.
Minneapolis received iii cars against
1873. Duluth rs against "a and Chicago IL
against %. Kansas City had $4,000 blu
in and shipped out 100000 and st. Louis
received 20, 900 and shipped $4,000. Min
neapois stocks decreased for the week by
36S,67 bu, leaving a total Of 8,107, 1857
from which must be taken about 1O5, 0OC
bu. which will be the decrease for the
first day Of next week Primary receipts
totaled 202,0 bu, against 225,0O0; ship
ments 246,O00 against $4,000. Wheat anG
flour clearances III, 900 blu. ... -..
The mills are grinding and flour bust.
ness Is reported satisfactory. ..-. ..
July wheat closed at $3.50; September
82Bc; December soc.