The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-06-10
Wheat Quiet and Inclined to Sag
Meanwhile - Trade Very.
Light ALI Around.
Preliminary Reports and Esti-
mates Nearly All Bearish in
General Tone.
Receipts Light-Mills Closed
Forecast Favorabae-A Quiet
Close.

e Minneapolis Chamber Of Commerce,
June 1O.-With the government report
due to come along this afternoon, 1t was
difficult to work up much enthusiasm IN
wheat In to-day's session. and dullness
and hesitancy ruled. The trade looks Tor
a condition Of about II on V.@ater wheat
and for 81 on spring wheat. The last
winter wheat condition-that Of May L
was 1875. Nothing has been heard yet on
spring wheat, but year ago the Hrst
report showed condition of 95.5. In
view Of the present comparatively high
prices for wheat winter crop cond1tlon
of II and spring wheat condition Of 81
would make 1t bearish report, since this
could be figured to show an approximate
total crop of 595, 900, 900 bushels, leaving
an exportable surplus Of around Ito, 00O,-
600 bushels. This, of course, Is guess
work pure and simple, but 1t represents
about what the trade is looking for.
Naturally everything Of possible bearing
upon conditions, or In any way sugges-
tive of what the government report
should be, was scanned very closely. The
Kentucky state report makes the condi-
ton 81, against 60 last month and 81
year ago, and puts the acreage at 70 per
cent of that of last year. Nebraska had
Ia state report bullish on corn, but rather
favorable otherwise The Texas Grain
Growers association in session at Bloom
field reports 10000, 900 bushels as the
promise for that state. Nicollet, OF the
kansas City Star, takes the figures Of
9Coburn, secretary of the Kansas state ag-
ricultural board, and figures out a prom
Used yield for Kansas of sc, 900, 900 bushels.
fN The southwest had more rain. and, as
\ 1t Is close to harvest time in few OF
I the more advanced winter wheat sections,
rain Is not needed and is really bad
thing What little strength came from
this, however, was soon wiped out by
s+o lett oh -ir,cr n
ments last week Of 4,464000 bushels from
5Argentine and India, 936, 900 and $685.
200 bushels respectively. '
q Again receipts here were very light,
only 100 cars, against 258 a year ago.
Duluth had % against %, and Chicago II
against 20. St. Louis had 10000 bushels
against 1000, and shipped $4,000 against
none a year ago, while Kansas City got
s21. 900 bushels, with no report for last
gear on account Of floods.
tEa The Modern Miller says: mo damage
of consequence to the winter wheat crop
I has resulted from heavy rains In the
west, which for time caused apprehen-
sion. Tho general promise for the grow
ing crop Is satisfactory, improvement be-
ing reported from many sections. The
plant Is heading out as far north as
+ Nebraska and cutting has begun south OF
The Ohio river and in Oklahoma. The
/ yields reported so far are fully up to OF
Z NShCSSu VI oNlouo CApSSIoSioAS' hS SAoE
In Ohio, Indiana and Michigan will be the
smallest since 1900"
Primary receipts, 257, 900 bu against $685..
900: shipments, $1,000 against 100000
Clearances, $4,000 bu.
Clearances for the week, 1,4S2,000 bu Of
wheat and flour
The market rallied near the close, but
there was little doing at an ytime during
the session
July closed at 931ao September at size
and December roc.