The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-15
Wheat Strong in Tone but Prices
Easier Under Profit Taking
Sales.
Better Weather Starts Bear News
and Encourages Free
Selling.
September Sticks at 87c and
Shows stubbornness Against
Pressure.

Minneapolis Chamber Of Commerce,
July 15.-Wheat held It's own thru the
early part Of today's session despite the
receipt of considerable bearish news and
the pressure of profit-taking liqu1dat1on.
The southwest had weather prospect
better on the whole, but the rains, ap-
parently, are never to stop, for last night
there was another LOS inches at Wichita
and lii at ST. Louis, While Kansas City
had trace The secretary OF the Okla
homa Grain Dealers association says the
damage southwest has been overest1mated
New York and Baltimore wired again that
no business can be done for export. Bank
ers at Jewell City. Kan, and other points
sent favorable crop news, and number
of reports were in from land men and
railway managers to the effect that there
was far less damage than had been esti-
mated Against this, however, Snow came
out with a very bullish report, admitting
damage in degree fully equal to That
claimed by other crop estimators AS
Shows former reports, issued before the
recent rains and floods in the southwest.
were very favorable, the change had
STRENGTHENING effect Snow says ION
July / winter wheat promised a crop Of
$4,000, 900 bushels. Continuous rain aftcv
that date until July prevented cutting
and caused some loss of grain and heavy
loss in quality. Local returns numerous
enough to be representative show a loss
state had easily a prospect for SO,0OO,oOo
bushels, but this has been discounted IN
quantity and mercantile quality by pos
sibly 100000 bushels. South of the
Platte In Nebraska rust developed badly
after July /, while western Missouri shows
heavy loss from rottinG and sprouting in
the shock. With bad harvest conditions
In the most important winter wheat dis
tricts the crop prospect has probably been
reduced by $4,000, 900 bushels since July
!, leaving the crop nearly 100000 OO
bushels short Of last year. Corn Is very
late but Is growing rapidly and-outside
of Missouri where 1t is small, weedy and
unpromising-th corn crop is maintain
ing fair promise"
The Modern Miller says: "a continual
ton of stormy weather which was most
severe in the western states. brought. har-
vesting operations to standstill in the
largest portion of the winter wheat belt
and much damage was done to the cror
in Kansas which will result in consid-
cradle loss in the quantity harvested, but
the principal damage appears to have beer
to the quality of the grain. Reports o.
damage by rust and sprouting In the
shock are coming from many sections
With favorable weather cutting ant
threshing will be pushed vigorously. Nil
lers report the new crop the finest II
quality and strongest in gluten content
ever raised" -.
tMlllnedpOllS lldu LOU StiS, rd5oiiioe Aoo
Duluth 40, against g. and Chicago
against 60. st. Louis had $4,000 bu
against $4,000; Kansas City $4,000 bu
against $4,000. Wheat and flour clear
ances 10000 blu. Primary receipts 3070o
bu, against 458,000; shipments, $4,000 bu
against 216, 900. .. ... .+ .i''
La Petite Journal Of Paris estimate
the French crop at 310,000,000 blu, agains
365, 900, 900 blu last year. A crop of 1926,
100000 bu is considered there low aver
age ~
Contrary to the judgment of elevate
and commission men, J. r. Koontz, gener
al freight agent Of the Santa Fe. est
mates that the wheat crop of Kansas th
year will be 10000, 900 bu. This is 10000
600 bu more than the estimate Of tn
dealers, but Mr.. Koontz says his jude
ment is based on personal Inspection
the fields and interviews with farmer
and others since the floods. He says
will stand on his figures. Koontz adrli
that in the flooded districts the loss
fully so per cent, but he says the losst
elsewhere not so great.
July closed at CSC, September at 87H
and December at S4@e41sc.