The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-04-13
Minneapolis May Down to 921sc,
Soon Turns About and
Touches 941sc.
Crop Reports Less Favorable
From Both Southwest and
Northwest.
The Winter Wheat Prospects
Lower in Some Ohio Valley
Sections.

Minneapolis Chamber Of Commerce.
April 13.-Wheat went a notch lower to
start the trading this morning, touching
-921sc, then turned up &c to 941sc which
point was reached before noon. Some Of
the short wheat put out higher up was
taken in. The bulls thought it was time
for a rally anyway and bought little
The big bear card was the item printed
yesterday to the effect that the Minneap
oils mills will close down later in the week
for an indefinite period owing to discrim
mating freight rates Lower foreign mar
kets made another weakening influence
The saving feature for the bulls was the
less favorable tenor Of crop reports. The
northwest had nothing very favorable to
show as to the seeding outlook the sea son
being very backward everywhere. 1t has
been evident for some time that the new
spring wheat crop must start somewhat
behind time this season, and later reports
only tend to confirm the former stories
of delay. Too much snow and rain is
the general cry. This is not going to hurt
anyone or hurt the country, but that it
may mean less wheat planted, every grain
man knows. A week Of good weather
will make it possible to get to work over
large part Of the area, but a week Of
bad weather Just at this time would be
great disappointment for those who have
been figuring upon a larger wheat acre
age as natural result of higher prices.
Little new information came from win
ter wheat territory, aside from some bad
reports from Indiana and the Ohio valley
The Orange Judd Farmer says the winter
wheat condition Is SOL, against the gov
ernment's recent estimate of 76.5. Later
in the session Chambers had some strong
Geographic news from Rankin Of Chicago,
about winter wheat conditions, and in the
Chicago pit Rankin and Pringle were buy
ers Of wheat.
The government report is now an old
story but there is one thing about it that
seems not to have been thought about
very much by the trade, and that that
decline in condition between April 1 and
harvest time is almost a certainty. If
any one will take the trouble to look up
records he will find that almost invariably
the crop deteriOrates as the season adj
vances. In the fifteen years, from 1888
to 1902, the crop improved only twice af-
ter April, and then by 8.3 points In 1892
and by only 3 points in 1898. In the other
thirteen years there are declines running
as high as 1874, and last year, as the trade
knows, the condition from April to har-
vest fell about 20 points. The idea that
because the present winter wheat condi-
ton is the lowest in nineteen years it
must necessarily improve may be all
right, but the chances would appear to
be much against it,
Chicago said The strength there was due
largely to cable advices to Armour from
Odessa to the effect that the weather is
bad for crops in southern Russia.
SlXty-three cars were in here to-day
against 105 Duluth had 9 against 20 and
Chicago against 4. st. Louis received
$4,000 bu against $4,000 and Kansas City
$4,000 against $4,000. Primary receipts,
245,OOO blu, against 100000; shipments,
24S,000 against 522 Wheat and flour clear
ances, $4,000 bu.
The market closed strong and near high
points May at $3.50, July, 93B @94c, and
September S3%c.