The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-03-30
Sharp Falling Of in Receipts at
Southwest Points - Ship
ments Heavy.
The Local Market OFF at First, but
Very Strong Later May
Closing 975sc.
Winter Wheat in Ohio Somewhat
Uncertain-News Of the
Grain Trade.

Minneapolis Chamber Of Commerce.
March 30.-The bears drove wheat down
another notch by pounding the market
and the early business was on range of |
etc to 96h 096@c for May. There was
nothing new on the bear side. and the
break was continuation Of the slide Of
yesterday. So far from favorinS further
decline. the news this morning was Of a
nature to cause hesitation, II not reac-
tionary flrmness. The southwestern move
ment has fallen off surprisingly To-day
Kansas City received only 8.100 bu Of
wheat. A year ago to-day there was a
total there Of over $4,000 bu. Yesterday
Kansas City shipped out $4,000 bu. The
st. Louis figures made showing equally
bullish. receipts totaltng only $4,000 bu
against 42,000. while no less than $1,000
bu were shipped out yesterday. Taking
the two points together there IS an inward
movement to-day OF about 23.1oo bu
against an outward movement OF about
l7S,O00 bu yesterday. This wheat going
out Is bound to show up again IN part
somewhere else. but probably not to the
extent that many traders think, as
greater quantity than might be supposed
ia going direct to mills. and is being con-
suned Minneapolis is getting a big share
every day, showing a run varying all the
way from 80 to 1870 cars, with A. cars
as the number containing winter wheat
in here yesterday.
Receipts here to-day were 223 cars
against ITO. Against this so cars were
shipped out. Duluth had 81 cars against
-, and Chicago IA against u. Mime
apolis elevator stocks have increased $780,
600 bu so far this week.
The Price Current has the following re-
ports on winter wheat conditions and
prospects. Ohio-The state has been well
drenched.. Temperatures spring like but
up to the present there has not been
much progress in growth. Early sown
estimate the outlook for half crop, but
1t will take week or two Of forcing
weather before satisfactory estimate
can be made.
Indiana-The wheat outlook is a little
better than in Ohio but the general char
acter Of the report is the same. Very
little surplus grain remains, particularly
Of wheat and oats. Not much oats sown
yet. Some increase in corn acreage ex-
pected.
Illinois-Wheat has begun to grow and
the promise is fair; plentiful supply Of
moisture for present. Little oats sowr
owing to wet weather, but a large acre.
age expected Little grain being mar.
keted.
Foreign markets were off, Liverpool 1at
lower. This, Bromhall cabled, was in line
with the weakness in American markets
the undertone in Liverpool remaining firm
Primary receipts were $4,000 b,
against S5S,OOO, shipments 2l4,O0O b,
against, 23s,OOo. Wheat and flour clear
ances $4,000 blu.
The weather forecast is follows: IL
linois, Indiana and observation-disclosures an,
possibly thunder storms tonight an,
Thursday. Upper Michigan, Minnesota
and North Dakota-Rain or snow to-nigh
and Thursday. Lower Michigan, Wiscon
sin and Iowa-Rain tonight and Thurs
day. South Dakota-Showers tonight
fair Thursday Kansas-Fair tonight an
Thursday. Montana-Cloudy tonight an
Thursday. Enthusiastically shower
tonight; cloudy Thursday.
Kansas City wired that the extremel
small receipts there are making man
many bulls. May there closed Nc highe
r last night than the day before and a
cash houses say farm deliveries are al
most nothing. Rains did not get far out !
the wheat belt last night.
Near the close there was gossip aroun
to the effect that the mills may close dow
again, but this was afterward denie
Kaufman Of st. Louis is very bearish {
wheat and is said to be short a big lin
and the gossip Is that he is trying
break the market. while the bulls are tr,
ing to force him to cover.
May closed firm at 97Ac.