The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-19
American Crop Prospects Show
Improvement Good Wealth
er Now General
But Foreign Crop Reports Poor
and War Complications a
Possibility.
September Breaks 114c Early,
but Shows Stubbornness
Later.

Minneapolis Chamber Of Commerce,
July 19.-Wheat turned backslider this
morning and was off about 1Ac In the
first hour. September sold to ST&@S7Mc,
compared with yesterdays close at 50 1sc
and yesterdays high point of $3.50. Many
pit traders We're buyers near the close
yesterday because of the strength In Liv-
erpool and the report that the English
market was up another penny on the
curb, after the close of regular bust
ness They naturally looked for higher
liverpool opening this morning, not
knowing that King Edward has gone to
Liverpool and that there would be a holi-
day. London was open for business and
was up sd, but other foreign markets
Ishowed little change. The war scare also
Ipetered out. Every grain man realizes
the Importance of the situation in the
eastern Mediterranean, and that In the
movement of Russian warships thru the
lDardanelles lie possibilities infinitely
great. 1t is a far look ahead, however, to
anything of a nature to cause alarm and
the disposition is to believe that nothing
will come of it and no complicat ionE of s.
serious nature will arise. From nos on.
however the trade will keep one eye on
the situation, as anything suggesting
clash between England and Russia would
he wheat market factor of magnitude.
n The Chicago market had to stand the
pressure Of considerable hedging from the
southwest. where cash grain men found
it more advantageous to sell futures than
Ito force the sale of the cash stuff. Kan
Isas City cash wheat was Off about &c and
Duluth was also lower. Minneapolis re-
ceipts were Isl cars against 200; Duluth
Ills, against 90, and Chicago II, against
Il63. Kansas City had 104, 900 blu, against
i222,00o and ST. Louis $4,000 bu, against
l115,000 Local stocks show decrease Of
215, 600 bu so far this week.
Des Moines had remarkably heavy pre-
cipitaton, reporting 4.32 inches in all, but
aside from this the weather map shows
practically no rainfall. There was ~ at
ISt. Paul, .04 at Omaha, .02 at Davenport,
.02 at Columbus and IL at Louisville. Gen
eral light rains in Manitoba. Tempera-
lures are little lower west and north
west, about stationery southwest. In the
extreme north and northwest it Is gener-
ally clear, temperatures 40 to So: precipi-
tation .O6 to 80. The northwest is clear.
Temperatures so to 81; the west and south
west generally clear. 49, @ss
Broomhalls foreign crop summary says:
united Kingdom-Hot forcing weather has
continued the past week and wheat Is
ripening rapidly; grass burning up.
France-Complaints more numerous from
center as harvesting progresses north
ward; extreme heat has affected quality.
: Germany--Weather hot and dry; rye mar
Is vest commenced. misunderstanding
returns vary considerably, in some dis
ftricts wheat is of fine quality, while in
}othefS there is much smut; rain urgently
needed for corn crop. Bulgaria-Pros
poets good everywhere. Hungary-shor
age in yield rather less than expected
Russa-Interior markets strong and adj
yvancing on Indifferent crop outlook. Italy
Crop yield below expectations. Sweden
crop promises 70 per cent Of a
normal yield.
The Illinois state department. says
Harvesting and threshing of wheat have
been seriously hindered by wet weather
and considerable quantity has been dam
aged in the shock Corn maintains gooG
condition and has made rapid advance
a greater portion of the crop has beer
laid by. and some fields are in tassel
Oats are mostly harvested in central anG
southern districts. with an average GOOD
yield. In northern district the crop i:
fast turning ripe and harvest will be gen
eral during the ensuing week, with
promising outlook"
Minneapolis July closed at 97%c, Sep
tember s7Bc and December at s514c.