The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-14
September Sells to SOC, Breaks to
S71a@87ssc, and Then Turns
Firm Again.
Sensational Reports From Kan
sas, and the Northwest News
Very Unfavorable.
Secretary Coburn of Kansas State
Agricultural Society Very
Bullish.

Minneapolis Chamber Of Commerce,
July 14.-Two big guns opened this morn
Ing upon the bears in the wheat pits and
sent them flying for cover. They were
tho Chicago Record-Herald and the secre-
tary of the Kansas State Agricultural So
ciety. The first trades in September wheat
on the curb were around S9c ana that
figure was recorded soon after regular
trading began, July wheat holding at ST.
The northwest had rains again last night
and reports from the Red River valley
were more discouraging than ever A mum
Der of Grand Forks and Fargo men were
on change here this morning and all
argue that the situation in the valley Is
such as to occasion serious apprehension,
and that tho prospect is being unfavor-
ably affected by every additional day Of
the present weather The Record Herald,
taking the J. J. Hill estimate Of 600. 0000 900
hu total yield as @ basis, figures out
wheat crop and wheat price situation for
the country at large decidedly strong in
every particular and prints what is really
the most bulush summary that has ap-
peared for years. A side issue in the Stu
alton. but one Of Importance as affecting
prices, Is the uncomfortable position Of
the shorts In Chicago July, who cannot
get wheat to make good their contracts,
and who have all July yet in which to
deliver, but not much to indicate that
they will have enough new wheat in time
to help them out OF the Kansas situation
yeals situation without parallel In the
anpals Of Kansas wheat growing in that
a. magnificent crop, greater than the aY-
erage In quality and far above in guam
tity, has, when ripe for the harvest been
SOL damaged by weeks of continuous rains
as to make its saving in merchantable
conditions, either well nigh impossible, or
the grain which may be saved of a grade
and quality grievously disappointing to
not only it's producers, but all those inter-
Kansas for supplies of the largest guam
tity Of such higher grade breadstuffs as
IS nowhere else obtainable."
Nicolet in the Kansas City Times this
morning says: THE sensational character
of the detailed Kansas reports 1Aakes it
probable that the losses in Missouri Ne
braska and Oklahoma also greater
than they have been estimated, and it
seems not improbable that the territory
west of the Mississippi river will market
$4,000 900 bu less wheat than indicated by
the government report of conditions on
July H. .-.-.,-.
ii The Price Current says loss to winter
wheat since July In the west Is presum
ably 20, 100000 to 100000 bu; elsewhere
little damage. Corn and oats condition
maintained. 49, ~
Primary receipts, $1,000 bu, against
100000; shipments, $4,000 blu, against
$4,000 bu. Minneapolis received 141 cars
against 144; Duluth, 80, against 49, and
Chicago, 6, against 27. St. Louis had
$4,000 bu, against 1000 900 bu. and Kansas
City 49, 900 bu, against "a. 900 blu.
President Ripley Of the Atchison road
says he thinks Secretary Colburn's re-
port about represents the facts and tha
very serious crop losses will be shown
in Kansas.
Two or three cars of No. 1 northern
were reported sold in Chicago this morn
ing at $1.04 Local. sales of No. l north
ern were on a range from $1.00A tt
$1.01k.
Broomhall's Liverpool cable says there
were heavy offerings Of wheat there earl.
by prominent house, which opened tn
market unchanged. Later the Kansas re
port and good demand for Manitoba whea
advanced prices. '''.''
Kansas City had fifty cars of wheat to
day and fifty estimated for Friday
Clearances Of wheat and flour only IS,
900 bu.
July closed at 99c; September at s75sc
and December at 84Ac.