The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-25
Closing Bid of the Day Highest
Figure Heard at Any Time
~ on the Option.
Frost Reports Come In from the
Northwest and Too Much
Rain Southwest.
September Holds Back, but July
Wheat Takes On Great
Activity.

Minneapolis Chamber of Commerce, May To-
Frost in the northwest and rains IN the soutn-
west-these were the reports that put wheat NY
with rush this morning. May was PACK again
to the former high point OF Sept IL last vi
S1.211a. July sold to $112A and September 10
seize. From these points there was recession, out
the tendency remained firm and the market
looked up again on every little turn of buying:
The frosts scared the traders not httle' puI
there still much hesitancy to buy as soils
feared there might be exaggeration Inc heu
river valley has received some hard KNOCKS at
times in seasons past and yet did fairly WELL
there few who believed that there mas
been any injury to make a scare. Stlll the 1acls
are that there has been an excess or moisture,
a lack Of good growing weather and now drop
in tempera ture to point low enough to cause
frosts at several important points. large pro-
portion of the wheat area has been seeded with
lightweight seed and what the trade would
like to know is how this is going to stand adj
versity. Had this been all the market might not
have felt it much, but the southwest sent
bad reports also. Ellsworth, Kan, said the smut
In the wheat is very extensive and that the
promise all around is much lower than 1t was
short time ago At least ten other southwes-
tern points sent in unfavorable wires and that
there was basis for increased apprehension of
damage from too much moisture proved by
the remarkable showing of 3oS inches of rain
last night at Kansas City. Talk Of a record
breaking wheat crop has ceased. No one in
the trade longer speaks of an early harvest or
of yield greater than anything ever known.
On the contrary there is general belief that
the prospect both for early harvest and for
the yield has been lowered. To what extent is
another question. period Of fine weather would
again make things look good, but continued I'M
favorable weather will make good many trad
that the fence to the bull
side.
Minneapolis got 200 cars against so, Duluth
nothing at all against 81, Chicago 5 against 70.
Kansas City receipts "a 900 bu compared
with $4,000, and st. Louis receipts $4,000 against
1900.
Primary receipts 291 900 bu against $4,000.
Clearances wheat and -four, q 900.
Galveston reported the sale yesterday Of $4,000
bu new No. red wheat for June shipment at
15@1sc per bu under Chicago price.
The Price Current says: "Corn crop situation
Irregular. some uncertainties of promise, not dis
unctly discouraging. Few days of good weather
would lessen uncertainties. Oats generally doing
fairly we'll. Winter wheat situation good
cept limited areas heretofore unfavorable. Spring
wheat indications generally favorable. Packing
hogs 465,0o0 against SO, 900 last year.
Piper says The heavy rains southwest are
the feature. 1t looks dangerous to sell July
wheat short at any price at present, but these
sharp weather bulges there Is likely to be goot
elling by the bulls which will give quick re
actions
The forecast: Illinois, Indiana. Missouri, Mich
1gan, cloudy, showers. cooler; Wisconsin, show
ers. cooler frost north; Minnesota, Iowa, Nortl
Dakota, fair, light frost; South Dakota, cloudy
showers east light frost; Nebraska, showers
cooler; Kansas, cloudy.
The market strong for May but easier TO
September and July at the close July closing
At S11O& and September at S57s @s5&c.