The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-04-09
Awaiting Developments Before
Committing Themselves Heav-
lily Either Way.
The Storm Not Bad in Itself, but
Rains Following Would Do
Harm.
Jones Goes Into the Southwest
To-night-Government Re-
port Monday.

Minneapolis Chamber Of Commerce.
April 9.-Probably there has not been
a time in many months when there
was less decisiveness in wheat. The
! market runs UP and down a cent by
turns. There are few outspoken bulls
and few pronounced bears and all the
trade Is waiting for developments.
The storm over the northwest made
I a stronger and higher market, but
now there is waiting feeling. The
trade would like to know more
definitely as to the seeding outlook in
the northwest. The feeling is that
while the snow has been a bad thing,
In itself it Is not serious If good
weather follows. Wires were nearly
all slow this morning and some were
down. McCaull had telephone COM
munication with Watertown and other
points and reports are that with good
weather a resumption of farm work
will be possible in four or five days.
This is not the case everywhere, ana
some localities cannot do much for
a fortnight under the most favorable
circumstances. Still the situation to-
day presents in itself nothing alarm
Ing. However, this is April, the
month Of showers. Rains on or
about the goth are quite the thing to
look for. Let moderate showers
come and reasonably fair weather,
and the northwest will line up we'll
and whatever damage or delay may
result in the Red river valley will be
offset by benefits in western North
Dakota, where moisture is pretty de-
sirable. But let a period of heavy
rain come along and it is hard to see
how the valley could get into condi-
ton by May i. This is what the
trade fears The situation is in
short one of great uncertainty.
To-day May was up to 96Ac at the
opening, and down to 95Ac before the
tn
s45s@94ac. Weekend liquidation of
long wheat was heavy.
Monday will bring the government
report giving the winter wheat con-
dition. Tonight H. V. Jones goes
into the southwest, and thru into
Texas, and the Minneapolis trade
should soon be able to learn some
thin gas to the winter wheat outlook
from first hands. If the government
makes the condition as high as So
1t will likely be taken as bearish
Anything from 80 to IS will be
neutral and anything under Is would
probably strengthen all markets.
The wire service was SO poor that
scarcely any of the regular statistics
came thru. Clearances, so far as re-
ported, were $4,000 bushels. Primary
points received 1000 bushels. st
Louis had 5000 bushels and shipped
out 1856, 900. Kansas City got $1,000
bushels and shipped out $4,000. A
year ago st. Louis had $4,000 in ant
shipped $4,000, and Kansas City hat
$1,000 and shipped $4,000.
Minneapolis received 93 cars
against 1888, and Duluth 16, agains
88.
Paris was 5 to 10 confines up ant
Liverpool Nd up.
Commenting on the dull flour trade
the Commercial West says:
with 100000 people to feed 70
four months out of old supplies, it i
q, reasonable proposition that SOM
flour must be sold. This is the season
of the year when the flour market i
usually dull, and we have only to re
fer to last year to find that with abou
60,000,000 bushels more Of whea
raised on crop of 1902 than 1908, tn
price of wheat ruled strong last sum
mer. May wheat to-day is only Is
below the high point Of February
prices suggest heavy domesti
consumption in the United States, an
with much lighter export to Europ
they almost prove that the old level O
wheat price that has held in recen
years has been left behind possibl
for long time to come"
Local stocks are almost stationary
For the week there was a decrease 9
15,46S bushels, leaving the total II
810,674 bushels. The decrease fo
one day of the new week is abou
10000 bushels.