The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-08-23
Some Very Bearish Crop News
/ Comes In Early From the
/ Canadian Northwest.
This Helps to Send Prices Down,
and December Wheat Gets
Close to $1.10.
Much Selling Out of Old Holdings
and Not Much New
Buying.

Minneapolis Chamber of Commerce,
Aug. 2S.-Wheat was off again from the
start, September down to $1.12A, Dece1n-
Der to $f,10A @110ss, and May to $1.1las.
Selling came from every side, and there
was not much buying to offset it: The
wire service was still in bad shape, and
1T was impossible to communicate freely
with the outside Winnipeg was the CEN
ter of dissemination for bearish news
and several very favorable reports came
salong. The crop above the line Is now
said to be- much less seriously injured
than was supposed last week A. J. White
f& Co. of Chicago have a representative
covering Manitoba, and he reports having
gone thru seventy -fve-miie stretch of
splendid wheat, and failing to find any
such damage anywhere as was reported
some time ago. The weather was good,
and, in short it looked very much as tho
the bulls were unable to get hold of any
thing new important enough to wake up
the market. Meanwhile many holders,
who last week could see no top to the
market, sold out and stop-1oss orders were
reached in some cases. It was simply a
case Of more wheat being offered than
the pit could absorb.
b. AS was the case yesterday, SO again to-
day there was dearth of news. The
wires were hooked up again, but the ser
vice was slow and unsatisfactory:
~ Minneapolis stocks decreased by fS1,-
900 bu SO far this week:
y Minneapolis received 145 cars, against
452; Duluth 81 against is, and Chicago
1876, against ia. Kansas city had $500
bu, against 458.1O6 bu.
Primary receipts; 100000 bu, against
$4,000; shipments, 5f5,0oe; against $780,
600.
! The Ogtlvie Milling company and the
Northwestern Miller were both bearish in
reports
. The only precipitation shown by the
mornings weather map was 01 Of an inch
at St, Louis, .01 at Springfield 40 at
Columbus, trace at Evansville and 100
at Nashville. Generally clear. Not much
change In temperatures, slowly rising in
west and lower In Ohio valley. In en-
IRENE north and northwest 1t Is general
ly cloudy, SO to So degrees; local rains in
northwestern portion; .02 to IL; returns
incomplete. Northwest Is partly cloudy In
Dakotas, clear in Minnesota, Al to 81;
highest temperatures at Rapid City, where
they said frost yesterday. West and
southwest clear.
Cloudy, thunderstorms; warmer south
west; cooler west. North and South Da-
kota-Unsettled, with showers. Nebraska,
Iowa, Missouri, Illinois, Indiana-Showers
and cloudy; warmer. Kansas-Cloudy
showers southeast portion; frost predicted
for Manitoba tonight.
This suggestion of frost for Manitoba
scared the trade and turned prices up by
q cent all around
The weekly governmental summary
says: Spring wheat harvest generally fin
ished except in North Dakota and north
ern Minnesota, where rust Is continuing
to cause great injury Rains in North
Dakota the latter part of the week in
terrupted harvesting. Harvesting is also
nearly finished on the north Pacific coast.
G. September wheat closed at S113A, De-
cember at $1.111a and May at $1.12X @1.1 3.