The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-06-03
4ull Reports Come Pouring Inland
New Buying Starts in
ALI Pits.
Rains and Floods in the Southwest
and Backward Weather in
General.
July Strikes $500 and September
$500, Both Closing at
the Top.

Minneapolis Chamber of Commerce,
June 3.--Rain all over the country and
floods In the southwest-this was what
the bears in wheat had to face this mora
ing. Too much rain Is coming down TO
promise well for corn planting or for Win
ter wheat maturity. Clear weather after
to-day would put the crops in good shape,
but continued rains for another day or two
will likely mean reports OF damage ana
loss of acreage thru foods and the mar
kets will be affected. Corn was up TINS
morning and wheat also, Minneapolis May
!, going to 95Hc. The flour mills are going
Sahead at a greater rate of production than
for some time and while the decrease In
local stocks will be only about $4,000 bu
this week, it is likely to run much heavier
next week Receipts here were 19h cars,
against 249; at Duluth, 4, against 33. and
in Chicago Z against 81. st. Louis had
$4,000 bu, against $4,000, and Kansas City
10000, against a flood a year ago. For
eign markets were without important
change but the Argentine report showing
shipments of 1592.O0O blu. against 2,192,-
600 last week, was strengthening. The
European correspondent Of the North
western Miller estimates European wheat
prospects at Is, 900, 900 quarters, or about
$50, 100000 bu less than last year. The
Ohio condition is 81, against So last
month. d,
Snow has out a. report In which he
says that 1t seems reasonable to expect
an Improvement in condition June / over
May l Of q or points. The last year
showing an Improvement in condition dur.
ing May was 1928 and the average yield
per acre Of that year was the largest ever
made. Local returns. he says. show that
the month Of May was favorable to
growth of small grain. The month was
cooler than normal turnout the central
valleys, with abundant moisture to help
stooling of small grain. Improvement of
stand Is likely to show an increased rate
Of VII
wheat acreage but little changed from last
year, with considerable decrease in North
Dakota. The acreage OF oats will not
vary much from last year and the crop is
In normal condition.
Cash business in Chicago yesterday was
$4,000 bu No. 1 northern to millers at go
CSC in store. Sales of corn were 100, 900
bu, mostly No. 2, and IS, 600 blu oats. Du
1uth sold 100000 bu wheat for shipment
and chartered q boat for it, At the sea-
board exporters bought 10000 bu wheat
and 900 bu corn.
The Modern Miller says that heavy rains
and fear Of floods are now a factor, and
especially in the west, where the rainfall
has been very heavy. Complaints are re-
ceived that the wheat harvest IN Texas Is
interfered with, and that the crop Is be-
ing damaged Oklahoma and Kansas by
tho continued rains Otherwise. crop con-
ditions are maintained, tho the prospects
Cor the Ohio valley are for a yield Of not
to exceed half average crop.
Primary receipts, 100000 bu, agains
S21. 900; shipments, $4,000 blu, agains
140 900. Wheat and flour clearances. 1872.
900 blu. &c." a'.'.
The forecast is as follows: Illinois. Iowa
Missouri, Michigan, Indiana, Wisconsin
showers and thunderstorms tonight ant
Saturday. Dakotas, Minnesota, Nebraska
Kansas, rains to- night and Saturday.
Dollar wheat is again the talk on th'
floor and 1t Is the prediction that July will
~
Wheat and flour clearanoes for tn
week, 1,197,2S0 bu.
July closed at 95Ac. September at sSA
and December at 80Nc.