The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-08-26
Closing &c Higher for May and
About 1c Up for Dec. and
Sept.
No Frosts the Early Bearish
Factor, but the Weakness
Was Soon Dispelled.
Liverpool Comes Up a Notch and
Foreigners Take More
Notice.

3 Minneapolis Chamber Of Commerce,
Aug 26-No frost anywhere and no I'M
mediate likelihood of frost-thls was the
showing in the early weather report.
Wheat felt immediate effect and was OH
about &c on the curb. Then pit trading
began, prices ran off still further to
s1.O5A for September $1O5B @1.06A for
December, and $1O6B for May. Almost
as quickly 1t turned about for the weak
long stuff was pretty we'll sold out on the
break and an attempt to buy ten May at
$1.07 ran that option to S1.o7k BEFORE
drawing out the wheat. September then
sold back up to s1.07A, December to SLOT
and May advanced to $1.OSss. On this
early trading it was not always possible
! to execute orders close to stated figures,
and no trader could guarantee to get
within Ac or Sc of nominal quotations
Winnipeg sent temperature report Of
~ degrees at am, and said there had
been no frosts over night This seemed
very probable, as temperatures In the
Northwest territories were So to 81. and
in Manitoba 46 to So, while North Dakota
showed 46 to so. South Dakota 4S to 81,
and Minnesota 45 to 4S. There Is some
danger of frost almost any night now,
but meanwhile the late wheat is pulling
ahead, and unless frost comes soon and
is heavy it will not do very extensive dam
age.
The Jones report on Manitoba lifted
Liverpool. out of the hole. That market
came Id higher at 3:1S Liverpool time,
after an irregular early session. The tone
abroad Is one of hesitation and disin-
clination to believe that the Manitoba
wheat yield has been cut materially.
Railroad, land and milling reports from
Winnipeg and Montreal go across to L1v-
erpool every night, and these lean to the
more hopeful side. But an estimate of
only Al, 900, 900 bu is another story, and
Liverpool is probably beginning to think
that there must be something to the rust
scare after all. Liverpool has many other
: wheat fields to draw from aside from
those of the Canadian northwest never
theless the Importance Of the Canadian
supply can scarcely be overestimated.
Many grainmen believe that when Liver
pool understands the situation that mar
ket will be strengthened greatly. This
morning the Ogilvie Milling company was
reported from Winnipeg as having modi-
I fed Its former very favorable report as
to the prospective yields per acre.
The southwest had little more wheat
than year ago, but the northwest fell
under. Kansas City received 22O 600 bu
against 214O00 and st. Louis 159, 600 bu
against 81, 900. Minneapolis received 165
cars, against 257; Duluth 80, against So,
and Chicago 104, against LA.
Minneapolis elevator stocks will decrease
about 900 bu for the week
Wood had the following from Iarimore:
I ''Harvest has started in wheat generally
around here. The Elk Valley farm has
I started twenty eight binders on 5000 acres
of wheat The first cut. which is the
i best, will go near eighteen blu an acre;
q rest not so good; come will not go over
eight to ten bu.'
The Modern Miller says: Wheat seed
ing in progress steadily under favorable
conditions. Rains have put ground in fine
shape for receiving and starting crop.
Millers in the short crop sections Of Ohio
valley are already drawing supplies from
the accumulative centers. Texas will in
crease acreage.
Primary receipts, $4,000 blu, against
els, 900 bu; shipments 404,00o blu, against
100000.
Clearances, $4,000 bu.
Near the close the market was strong,
May closing at top point, $111A; Decem-
Der at $1.OSB, and September at $1.O9 "a.