The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-07
Railroads Blocked and Movement
of Winter Wheat to Market
Already Checked.
Minneapolis September Sells to
$3.50, July Closing Strong
at 97c,
Bears Have Little to Hope For
Unless the Weather Turns
Better.

Minneapolis Chamber of Commerce,
July THE Kaw river, the famous Kaw,
got on a rampage over night and helped
the bulls in wheat in great degree. The
market not only held the recent good ad-
vance but gained again. New buyers
came in and shorts who thought they saw
the elimination of the advance at yester-
days high point, and who went short
near the close yesterday, bought IN THIS
morning at higher prices, September going
10 S4Ac early drought Kansas"
Is not the cry this year, and 1t looked this
morning as If repetition Of last years
hoods was to be expected From Armour
dale. Kansas City suburb, the reports
were sensational The Kaw river, a stream
that dwindles into almost nothing In
hot and dry season. Is beyond bounds, the
streets are filed with water, and there
was four feet of water reported m big
grain elevator. Following up the rains OF
the past ten days. more rain fell again
hast night. At 1890 this morning 1t was
still raining at Kansas City. The fore
cast Is for unsettled weather for tonight
and Friday, for Kansas and Missouri, and
for partly cloudy skies and possible show
ers for Nebraska and Iowa. Hutchinson,
Kan, sent the first report OF railroad
Eie-up as a result Of floods, but there
were several reports Of traffic seriously
delayed.
A year ago the floods came earlier. The
grain trade took q double holiday over
important market open on the second day,
and the traders have not forgotten how
they came down town to find that market
np about 4c from the previous close. Con-
aitions today are not so serious by FAR,
but if the rains continue no end OF dam
age to crops may result, while in any
case the movement Of new wheat has
been set back
The bears have little to help them these
days. Still some are confident for a long
pull. Rain, they say, is not the worst
Ehing that could happen, and they argue
that some day fine weather will come
along and they will get a chance. Not a
bushel of new crop wheat has yet been
sold by Baltimore, and little export bust
ness has been done anywhere.
The Kentucky state report makes the
condition 70. against 81 last month and
rs a year ago.
The LondIva Times says wheat in the
limited Kingdom shows stand equal to
$2, against SS year ago, and ten-year
average Of 9S.4.
MINNEAPOLIS received 143 cars, against
AIS; Duluth 10, against Is, and Chicago 8
against %. Kansas City received 5000
blu, against 43.O0O and st. Louis $4,000
against 100000. Memphis elevator stocks
have decreased by 10000 blu so far this
week.
Primary receipts. 100000 bu, against
RS7,O shipments, 100000, against 1885,
900.
The Price Current says: Moderate var1a'
Eions for better or worse in wheat condi-
tion. Aggregate position not essentially
changed. Serious damage to maturet
grain in west apprehended if rains con.
Itinue Corn condition not much changed
about average. Oats a little moro promis
Eng than previously indicated.
Bull news kept coming to the Close A
Paris cable says the French wheat cror
will be smaller than last year.
Ware G. Leland had a message from
their Kansas City correspondent sayins
S'The outlook is pretty blue here. Looks
as tho it would never stop raining FIX
pect more flood troubles. Do not see how
they can harvest any more wheat in mex
ten days"
Smiley secretary Of the Kansas Grai1
Ipealers' association, wired from Wichita
SDamage in Harvey, Mcpherson, Sumner
Reno and Harper counties, so per cent
NO wheat will be the result"
Clearances were only 5000 blu of whea
and flour.
July closed at s7c, September at S5%
and December at $50.