The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-06-09
And on Report Of the Abolition
Of the 15c Duty They Start
Wheat Firmer.
This Is Soon Offset by Closing of
Minneapolis Mills and Other
A. Bear Features.
Tendency to Wait for the Gov
eminent Report, Due To-
morrow Afternoon.

Minneapolis Chamber of Commerce,
June 9.--Wheat trading began this morn
Ing with the bulls armed with a new ar
gument which they used for what 1t was
worth-the report that Mexico Is about to
abolish the tariff Of 15o g. bushel that
now maintains on American wheat. Just
what this would mean to the grain trade
IS a matter Of some doubt. It would Ger
ltain1y mean greater movement Of wheat
into Mexico AMI would be price strength
ening influence in It's general application,
but scarcely anything to become rampant
l1y bulish over Two other things helped
the bulls a little, one the heavy rains,
which at Moorhead. Mimi, showed LAP
inohes: the other the fact that eastern
nillers sent inquiry west for hard Kan
sas wheat, and Milwaukee sold some
Turkey red wheat to go east at 97c in
Milwaukee. On all this a small fractional
advance was under way, and the market
looked good for 1ac or so. Then the bears
handed out the information that the Min
Ineapolis flour mills will close tomorrow
until Tuesday next. and this took the edge
off at once. Thru the small fluctuations
there was evidence of waiting UNDER
tone. the pit crowd being governed more
by desire to know the import Of the gov
eminent report to come tomorrow than
by anything else. For five days Of this
week the local wheat stocks fell off 525j-
900 bu, which Is quite q decrease, but
if the mills lie idle over Saturday, Sun
day and Monday, not much further drain
need be locked for until midweek next.
Receipts here were again light, only 81
cars against 1913 a year ago; Duluth had
% against 80, and Chicago 25 against II.
ST. Louis received $1,000 blu. against 5000,
and shipped $4,000 against 2,0O0 Kansas
City received $4,000 bu and shipped $4,000
bu. Total primary receipts were 234, 900
bill, against $4,000; shipments, 285, 900 bu
against 100000 blu. Wheat and flour clear
ances only 33, 900 bu.
4 Winnipeg had rain this morning The
forecast IL for probable rains in Illinois,
Iowa, Missouri Kansas, Nebraska, the Da-
kotas and Minnesota.
The Price Current says wheat Is making
seasonable progress, heading and filling
favorably. There are slight losses by west
ern rains, but the weather is becoming
more seasonable and reports are generally
optimistic Oats progressing favorably.
Bearish talk Is predominant In the
southwest. The st. Louis Post-Dispatch
will say to-day: "Heads of wheat are
being shown on charge that indicate an
unusually full yield Not only are the
heads long, but they are we'll filed out
running three grains to the mesh from
bottom to near the top of the head
They present decided contrast to the
heads Of last year, when the best were
usually two grains to the mesh, and many
only one"
The Liverpool Corn Trade News says:
s'As regards the future Of our market,
weather and crop reports must continue to
be the main factors, and the big sup
plies Of wheat in sight will also influence
However, the effects of the last mentioned
may be tempered by smaller shipments
from Argentine. The movement has al
ready slackened and 1t is confidently ex-
pected in some quarters that Russian
quantities will be smaller, now that the
big supplies per barge are about cleared.
On the other hand, Indian shipments are
likely to Increase
The market dragged along to the close
without much new interest shown.
July closed at 935s @93%c, September
at size and December at 1910.