The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-04-02
Closing With Recovery to 9711ac-
Winter Wheat Is Still Pour
ing In.
Commercial West Says the Cash
Situation Is the Bears Stun
bling Block.
More Part Cars Coming in Here,
Indicating a Cleanup in
Places.

Minneapolis Chamber Of Commerce,
April 2.-Wheat dropped INC this
1norning. this being Saturday and liq-
uidation day. Selling continued thru
the session and while it was not espec-
tally heavy it wore away the May price
by bits from 98Ac to 971sc. Then
few little stop loss orders were uncov-
,ered and it went to &c on a quick
tbearish weekly review, somewhat bet
ter reports came along from the
southwest the local millers were still
talking of poor flour business, and re-
ceipts being for two days, against one
day a year ago. looked larger than
they really were. A feature that still
remains is the big comparative move
tnent of winter wheat into Minneap-
oils. Thursdays report shows 81 cars
winter out Of 118 inspected, Fridays
report 60 out Of 1872, and to-day there
were 402 cars wheat in here, of which
LOT contained winter wheat. Taking
out the winter wheat and allowing for
65 cars shipped out, there was very
day run. Duluth got At cars and Chi
cago 81. Kansas City had in $4,000
bushels and st. Louis $4,000
bushels for one days report and
shipped out for one day 100000 and
25S,00O bushels respectively. Mime
apolis wheat stocks increased 22S,127
bushels, making the total to Saturday
,11,826,142 bushels, but since then
there has been a turn about. and a
decrease of 900 bushels.
The weather map shows practically
no precipitation this morning. There
was .O2 inches at Moorhead, Mimi,
and .02 at Columbus, Ohio, and quite
general showers in Texas For the
twenty-four hours ending at a. m.
yesterday there were rains in Illinois,
Iowa. Missouri, Indiana and Ohio, very
heavy in Ohio and Indiana. Temper
,atures this morning are lower. Heavy
frost Is shown at Wichita, Kan. In
the extreme north and northwest gen.
orally 1t is clear, and to 3S above.
The northwest generally is clear and
16 to 80 above: the west and south
west partly cloudy. Nebraska is clear
and % to As above; Iowa clear and
2s to "a above; Illinois partly cloudy
and SO to 4S above; Kansas fair to
clear and 80 to "a above; Missouri fair
to clear and 40 to AZ above; the Ohio
valley partly cloudy and 3S to 4S
above. The forecast Is as follows:
Illinois, Indiana, Missouri, Wisconsin,
Minnesota, Iowa, North and South Da-
kota, Nebraska and Montana-Fair
tonight and Sunday. Upper and
lower Michigan-Snow in upper part
tonight and fair Sunday. Kansas
o~ Possibly showers Sunday and in the
east portion tonight.
The Commercial West says: THAT
the law Of supply and demand is do
ing its work in wheat cannot be de-
MED longer. The market is maintain
ing a strong position, without the sup
port Of Armour, which was alleged q
short time back to be the cause" OF
the high prices. The cause Of the high
prices is a lack of cash wheat to meet
the demand. The misleading effecJ
Of applying statistics too closely comes
in here. When totals Of supply are
computed there appears to be enough
wheat, and considerable surplus is
al T,,1x
many are overlooking the fact tina
the wheat is not located evenly as tt
demand and the competitive bidding
strengthens the price on all reactions
that come as a natural fluctuation.
while millers complain Of dull
flour trade, the fact remains that thu
United Kingdom has imported more
flour on the crop year to date from
American and Canadian mills thar
last year, and weekly exports of whea
and flour from this side are abov
estimates of a month ago. There i
tendency to curtail milling operation
OH account of wheat scarcity in 10
calities. and in a moderate way cur
tailment will help to equalize tn
wheat shortage; but it will not dis
pose of it's influence. It seems clea
that up to the fall months at leas
millers will not find it easy to bu
wheat. Southwest mills have show
AHCilIldlloll W IeuuCe lOui prices I1d
they gone Sd farther with their re
auctions it is likely Europe woul
T. have come up Sd and sales would hav
resulted. AS it was, they RENAME
apart and but little export bushes
was done"
Primary receipts were $4,000
D., bushels, against S0S,OO0. and ship
ments, 56S,O00. against 401,000 Clear
ances, wheat and flour, 331, 90
bushels.
In the cash wheat market Their
were more parts Of cars on sale tina
for a long time. The shipping of
part car usually indicates a CLEANUP
The market closed at 971sc fo
May; 973sc for July, and S3@S3b
for September.