The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-09-15
December Goes Down to $1.161a,
F but Comes Back Above $1.18
Again Before the Close.
Price Current Corn Report and
Towards Wheat Estimate
Both Depressing.
The Market Not Likely to De-
cline While Receipts Con-
tinue Light.

EAIinneapolis Chamber of Commerce, Sept. Is.
The bulls could do nothing with wheat this
morning and had to stand against a slide In
prices that took December to Sligo. Later
the market turned frmer and regalned a cent.
and 1t looked tho the early dip was all that
was to come. Corn was of, however, and this
made the general tone easy Frost was shown
again in n number of places, but the trade
rather feels that the worst has been heard in
wheat and that the corn is too far along to
be seriously damaged. This Is one view or IT,
ct least, and this was helped along by the
Price Current report, which says two-thirds of
the corn is safe. There are many others who
do not believe that is anywhere the
point of safety, and that damage has been done
that the trade will hear about later b. f.
Howard of the Chicago Trade Bulletin presents
his summary for the year. The northwestern
states, he says, have produced 151. 200 bu
spring wheat, against $50 100000 estimated by
him at this time last year. Z, The entire spring
wheat crop he places at 210, 900, 600 bu and the
winter wheat crop at $50, 100000 bu, total
of 540O00000 The country had on hand July
1 72,0O0,00O blu wheat, which would make a
total of 612. 900 600 bu We will need 400, OO0O0
bu for seed and domestic consumption, leaving
al approximate surplus 122, ooo, 900 blu.
There is one thing about the market that
might we'll be admitted by the bears first
last, and that is that more wheat has got to
come in before the market can go down much.
Leaving out of account for the moment all Items
of prospective supply and all cons1dera lions
TO big crops or little crops and the fact remains
that not much wheat is coming. Whether the
price is high low, and whether farmers are
holding back and foolish not to sell now,
are things every may judge for himself.
but meanwhile -four trade is better and there
Is always some one ready to buy wheat. 50 long
as cash wheat holds futures not likely to
break to pieces and cash wheat will not weaken
much If do not get more stuff in than of
late. Today Minneapolis shows 3O2 against
895; Duluth 90 against 172. and Chicago 81
against SO, with only 14s. 900 bu against 1913, 600
at Kansas City. st. Louis had holiday.
Wrenn has bought all Of I. 600, 900 bu Chicago
Mag corn and considerable December. thus far
II the pit estma ties correct. Pit traders
think the Watson Ellwood party is trying to get
an average by following the market down.
John Ingls wires from Norfolk, Neb.: North
srn counties 20 to 35 bu per acre, general APP
pearance good, but yield will be disappointing
here. About so per cent safe from FROST and
no frost here. Cold.
Weather map: Heavy frost in st. Paul; light
frost at La Crosse, Dubuque, Des Moines, Daven-
port, st. Louis, Cairo, Chicago and st. Louis.
Light rains in British northwest territories.
Temperatures: Canada 81 to 46; North Dakota,
36 to 40; South Dakota, 46 to 49, Iowa. 40 to
al; Kansas, 4S to So Illinois, as to so; Missouri,
Is to So Forecast: North Dakota, fair, cooler;
frost tonight. South Dakota, fair cooler. Min
rosetta. fair except showers in lake region; warm
er tonight cool Friday. Nebraska, Iowa, fair,
warmer tonight cooler tomorrow. Kansas, Mis-
souri,, Illinois, Indiana, lower Michigan, fair,
warmer. Wisconsin. fair, cooler in west por-
ton. Indications for fair weather the
entire forecast district with rising tenlpera
in the central valleys and lake region, but
cooler Their will set in again in the north
west.