The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-21
Marche Franchise, a Millers Or.
gan, Sees Smallest Wheat
Yield Since 1897.
Possibility of English Russian
Complications Another I'm
portant Influence.
September Wheat Regains a Cent
North Dakota Reports Less
Favorable.

Minneapolis Chamber of Commerce,
July 21.-Strengthened by foreign news
wheat made change about this morning
and shot up cent in short order. Against
yesterdays low point of S65s @S6A G, Sep
TENDER was up to SSB @SSAc' early and
1t looked like higher figures to come. The
feature of the early news was a cable
gram from Paris to the effect that Eng
land had given Russia twenty-four hours
In which to reply to the demand for an
explanation as to the seizure Of English
ships In the Red sea, and altho this looked
d little far fetched, and the trade was in
elined to doubt the authenticity Of the re-
port there was evidence that nervous
ness was ruling the foreign markets, for
Paris was up equal to &c, and Budapest
up 21kc. this latter advance so sharp as
to throw doubt upon the report until later
cables brought confirmation. The close
abroad was disappointing, Liverpool
showing net gain of only sd. Berlin equal
to hc and Paris about the same, but
Budapest was strong to the end, closing
l2%c higher. The French crop has been
hit and the question now Is as to how
serious the damage has been. The cur
rent number of the Marche Franco Use, the
organ of the French Milers' organization,
estimates the French wheat crop at 25 to
30 per cent under last year, or 255, ZOO, 900
to 274 100000 bu, which would be the
smallest since 1897. This is significant.
The grain trade has noted that over y
period of years the estimates Of the
French millers have usually been high, as
Is natural, and the fact that they. practi-
cally concede a shortage OF Is to 80 per
cent is taken to mean that there is that
much less In any case, and that the later
ard less optimistic French reports will
make the reduction heavier. The Marche
Francase also notes backwardness in the
wheat crop of Spain.
Conditions on our own side show no inn
provement. The map shows over two
inches Of rain at Valentine, Neb., and
tight rains in other parts of the state.
There was half inch of rain al Des
Moines and showers at Sioux City. West
ern Kansas has local rains, partly cloudy
Rkies with generally lower tempera lures;
four tenths inches of rain in Arkansas.
There were heavy rains again at Salina.
Ellsworth Mentor. Abilene, Hutchinson,
Concordia, Junction City, Sterling, Perry
and Florence. Specials say it will be i'm
possible to save what is left of the wheat
crop and will also be difficult to harvest
oats. The northwest had rain this morn
ing, Hilsboro, n. D., reporting a heavy
shower at 1920. The forecast is for fair
weather to come for the Dakotas, and for
showers tonight in Minnesota and fair
Friday. Bad reports began coming again
st. Thomas and Bathgate, NJ D., report
wheat only commencing to head on ground
where the heads should be out by July
!. No harvest need be looked for in such
backward localities before Sept. to un-
de-. favorable circumstances. At 1880
hard rain was reported at several points
in the Red River valley and west.
Kansas City. ran ahead of last yeal
with $4,000 bu. against $4,000. and St
Louis had 49, 900 against ia 200. Min
neapolis received 143 cars against $50, Du-
luth 50 against IA, and Chicago 13 against
81. Minneapolis elevator stocks show de-
crease for five days of $50, 900 bu.
Armour is reported as being a buyer OF
September wheat and seller of December
In the Chicago market.
July closed at 97c: September at SSNt
and December at $685. @S6hc.
Duluth sold seven loads of old Manitoba
wheat for export and reported some in.
curry for new spring wheat.
Primary receipts were $4,000 bushel:
against 501,O00 and shipments We're $50,
600 against 1873, 900. Clearances of whea
and flour were $4,000 bushels