The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-06-23
Rain in Texas and Showers Pre-
dicted for Winter Wheat
a Harvest Fields.
Spring Wheat Reports Not Quite
a So Favorable on the
lIs,, Whole.
Decrease of 100000 Blu. in Min
neapolis Stocks so Far This
H.. Week.

MINNEAPOLIS Chamber of Commerce,
June pa decrease of 100000 blu in
Minneapolis elevator stocks, with another
day yet to figure in, and the prospect of
total falling off Of S25, 900 bu for the
week, helped out the wheat bulls a lit
tie today. However good may be the
crop reports, and however bearish the
talk of an early harvest and big rush of
new wheat to market, the fact remains
that there is little old wheat on hand.
and that Is being drawn upon every day.
All markets had a fair cash demand and
1t developed that 900 bu were taken at
the seaboard yesterday for export. Toledo
has sold 100000 bu No. red to millers
IN the past two days and sold $4,000 bu
this morning at $1.01. Meanwhile receipts
are not heavy, every important primary
point except Kansas City showing less
than last year. that market getting 1900
blu against 1000. St. Louis had 5000 bu
against $4,000. Chicago ID cars against 16.
Duluth 80 against 80 and Minneapolis 100
against 165. st. Louis shipped $4,000 bu
against 5000, Kansas City 5000 against
$4,000, Minneapolis 81 cars against IL.
Primary receipts 219.OOO bu against 29O,
600; shipments $4,000 against 10000.
Wheat and flour clearances 41,000 bu.
All foreign markets were strong and
higher Vienna cabled report Of q terrific
hail storm thru Hungary with serious
damage to crops, which accounted for
strength in continental markets. and Liv-
erpoops IS to 7sd gain was credited to
Argentine advices which are not so ia
vorable, the weather having taken turn
for the worse in some districts.
The first unfavorable report for weeks
concerning spring wheat came from the
Red River valley. The wheat is said to
have g. yellowish appearance in few
spots and too much rain followed by
quick drying weather has caked and
cracked the. ground in places. Nothing
at all serious attaches to this but it was
Strengthening in a small way as being
OF the plant growth. ,..u.. -,,~.-r
Much depends upon the movement of
new wheat. Opinions vary somewhat in
this connection. A while ago the wires
were burdened with reports to the effect
fthat harvest would begin very shortly
(which was a bearish influence, but the
same houses that sent out these reports
turned about when it began raining in
kansas and over the central west and
lmade haste to assert that these rains
could do no harm and were not q bull ar
lgument since harvest was still too far off
An general to be hindered. The fact is
that wheat is being cut, here and there
in many localities, and the harvest will
soon be general Grain men now in the
winter wheat fields claim that there will
be no great rush Of new winter wheat tc
Chicago in any case, as there are toe
vators and country mills and much Of
the early harvested wheat will find lodg.
ment there. Even with good weather 6
rush Of new wheat big enough to crush
things Is not,a certainty, while wet wealth.
er would mean delay and considerable
nervousness on the part Of the many whit
have sold short for big smash. Heavy
rain fell today in Texts and the ,forecas
is for showers tonight and possibly Fri
day In Nebraska and Kansas
The Price Current says there has bee,
favorable progress in all crops. Whea
heading favorably. Where harvesting ha
begun the outcome equals or exceeds pre-
vious expectations. Corn mostly cleal
and good color. Backward growth. Oat
maintaining about an average condition
Five loads wheat sold for export at New
York.
July closed at 921so, September so1h
and December 1850. The first interes
was shown in May and there was som
sparring between $40 and SOC, but no
much business,