The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-28
September Sticks Around 89c-
News Less Bullish, but Prices
Stubborn.
Foreign Markets Fall Back, Yet
European Crop Advices
Are Bad.
Nothing Weak in the American
Situation = Rust Reports
Increase.

MINNEAPOLIS Chamber Of Commerce,
July 2S.-All the gimp was out of wheat
this morning, and September was back a
good cent from yesterdays high point,
selling at soc in early business. Good
weather and lower cables did it, The
local market was not weak, however, and
showed stubbornness against the decline,
rallying fractionally on every little new
buying order Antwerp was UP 9sc, but
other foreign markets were off, Paris max
ing big slump equal to 21sc, while Lon
don was I'D lower; Liverpool, Is OK q
lower; Budapest, sc lower and Berlin, I'M
changed. A German crop estimate was
cabled across showing wheat and rye
deteriorating. but this was old. Broomhall
makes the German wheat crop condition
so, ompared with so a year ago. On the
whole, the foreign reports of today were
about the same as last week, and are not
reassuring. The former indications that
Europe Is to have a short production this
year are sustained. Germany Is not the
only spot where a turn for the worse has
been made recently, but all the important
wheat-growing countries of Europe show
conditions either slightly less favorable or
barely maintained.
The weather was about as good as could
be desired. Over the central valleys the
skies were cloudy, and over the lake re-
gions about the same. The northwest had
scattered showers, but temperatures are
rising and there is nothing to indicate rain.
The forecast is for possible showers Fri
day in Minnesota and the Dakotas, but
generally fair weather may be expected.
Hot weather will probably bring repetition
Of the rust damage stories that came yes
terday. There is no doubt that rust has
developed over a considerable area in
South Dakota and in spots in Minnesota
and North Dakota.
The Northwestern Miller says: aside
from the danger Of an early frost, the
crop situation in the northwest is high
1y favorable. The weather during the
week has for the most part been all that
could be desired. Bright weather has been
the rule, while the temperature has been
by no means high, it ranging from 45 to
80 degrees Wheat has thrived and made
rapid growth. 1t is well headed out at
most points, and cutting will be begun
this week ir northern Iowa and southern
South Dakota. ..rE
The growing wheat is from one to
three weeks late, that in the north being
the farthest behind. Since it will for
some time yet be passing thru the milk
and dough stage Of development, early
there was frost on Aug. II, doing much
injury to the crop. However, usually
frosts do not come until well into Septem-
ber." . ....
The Price Current says: winter wheat
harvest practically closed. Threshing re-
disappointment elsewhere indications un-
changed. Favorable week for spring
wheat. Corn and minor crops generally
favorable =
Minneapolis was the only point falling
off in receipts. 81 cars coming in, against
126 year ago. Duluth ran ahead with
so cars, against 7; Chicago had So, against
bS; Kansas City 1919, 900 bu, against 1885,
00G and st. Louis 1873, 900 bu against 40,
OO0. Minneapolis elevator stocks have de-
creased $50, 900 bu so far this week.
Black rust has developed over portions
of the northwestern wheat area, and al
the grain trade is watching the reports
from South Dakota and south central Min
nesota. The following is from one of the
largest land owners and farmers in NORTH
Dakota: "As 1 have driven around the
country somewhat since returning here
Sunday, I am confident that the crop IL
the valley proper is badly damaged-w:
have some good Wheat-some fair wheat
some Indifferent wheat, and some poo
stuff. AS indicated above, the crop i
spotted-very spotted-with an occasional
field that looks as tho it might turn on
phenomenal yield. But the average
fear, will not cause much rejoicing il
North Dakota"
Letcher S. D.. says: Sorry to repor
that cur wheat crop is seriously damage,
by black rust. Impossible to tell how ex
tensive, but there Is no question but tina
1t is very serious
Primary receipts, 715,OOO blu, agains
621, 000 shipments, 329 900 bu agains
$4,000 Wheat and flour clearances, SO,
900 bu
September closed at 1915 @S9Ac; Decem
Der, S6ss @86Ic; July wheat, 99%c.