The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-03-07
Easier Feeling on Lower Gables,
Big Worlds Shipments and
Rains in Wheat Belt.
Orange Judd Farmer Gives Wheat
Reserve at 157,000,00O Blu.
Against 19e,ooo,ooo.
Liverpool Lower on Favorable
Grading Of Argentine's
Wheat Crop.

Minneapolis Chamber of Commerce,
March There was an easier feeling in
the pit this morning, due to lower cables,
big receipts and light rains In the winter
wheat districts. May opened $40 NC I'M
der Saturdays close at 97c, and sold to
96ssc within the first hour. Trading was
light except for a little furry at the open
ing. when there was some selling on the
decline. Early cables were SD lower. and
the later ones showed a decline OF I'D
from Saturday, said to be due to the very
favorable grading Of the Argentine crop.
The situation In the southwest continues
to attract considerable attention. Altho
there were rains in that section over Sun
day. they were so light as to be scarcely
more than traces. The SHOWS and heavy
rains predicted in Saturdays forecast
failed to materialize. There was one light
rain at Dodge City, Kan, but no other
precipitation in that state or Oklahoma.
The condition in the latter Is given at 80,
against rs last year, and it would there.
fore seem that reports from that section
have been somewhat exaggerated as to
the seriousness of the damage. The
weather map shows general rains from
Missouri eastward thru Illinois. Indiana,
Ohio and Tennessee. There is some rain
fall on the edge Of Iowa Temperatures
are mild quite generally, but it is under
freezing west and southwest.
The Orange Judd Farmer gives bull
ISM report Tie WuSdI Supply Ill AoA LII
ers' hands. According to this journal,
stocks Of wheat now in country bins are
l57, 900. 900 bushels, against 196,O00.OOO at
the same period last year. The percent
age Of the crop thus held Is placed at
22.3 or the smallest reported in ten years
with the exception Of 1901. The aggre-
gate thus held is the smallest since 1897.
There is some discussion among traders
as to whether or not the Orange Judds
figures for last year are not too large at
1886 600, 900 bushels. According to the gov
eminent report there were only 164, O00, O00.
This however, has to do with last year.
The present supply is much lower by COM
parison to either Of these figures.
In the absence Of anything new in the
way of news, trading was almost at a
standstill at noon, and at times the pit
was almost empty. Minneapolis was rela-
lively stronger than Chicago, and main
tanned a spread Of is @1hc over that
market turnout the session.
Broomhall cabled that the strike IN Ar
gentine was practically ended, but this
had little or no effect on the market.
Minneapolis wheat receipts were 559
cars against 456 for the corresponding day
last year. Duluth had 43 against rs, and
Chicago 81 against sc. st. Louis received
1O1 900 bushels against $4,000, and Kansas
City 1O4, 900 against 10000. Local elevator
stocks have decreased $4,000 bushels for
the first two days Of the week.
Primary receipts totaled at S45, 600 bu,
against $4,000, and shipmnets at 225,OO0
against 2OS, 900. Wheat and flour clear
ances 302. 900 bu.
Liverpool wheat stocks increased Y 600
for the week, making q total Of 1,92S,00O
bu.
Near the close a sharp break put May
down to 95kc here, and 93Ac in Chicago.
There was a feeble rally but the strength
seemed to have gone out of the market.
Considerab BILE wheat was sold here on the
decline, while in Chicago it was said that
a large amount was poured upon the pit
crowd, forcing prices down.
May wheat closed at 95 &c, July at $50
and September at S6Bc.