The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-09-07
Disappointment in North Dakota,
but Too Early Yet for Def
mite Conclusions.
Receipts Less Than Expected, but
Big Runs Later on Entirely
Probable.
Many Think Wheat Low, Enough
Legitimately, Yet They
Wont Buy It.

Minneapolis Chamber of Commerce. Sept. l.
Attic rain was In the air and rainy conditions
general, not much precipitation was shown on
the map, nor there any heavy RECORDS
made thru the morning. Hence while conditions
were unfavorable enough to strengthen wheat
and put the market into better tone all around;
it was difficult to raise the price much and
maintain 1t. Minnesota and the Dakotas were
wet down little during the night but no RAIN
worth noting was falling this morning at any
point where damage would be likely, ana up at
Winnipeg it calm, clear and about 20 &C.
grees above. The forecast Is for fair weather
tonight and Friday.
The features In wheat of immediate influence
are the receipts and the threshing reports 1t
looks if attention will now be paid to
the latter. The coming in on change OF some
hundreds of men from the country, IN town TO
attend the fair, naturally started much inquiry
as to results. and it cannot be said that they
were favorable. Even when allowance has been
made for the natural proneness of a farmer to
take less favorable view OF the size OF the
crop when he sees the price sinking on re-
ported large production, there still remains an
unfaVorable tinge to the summary drawn from
the many interviewed. This morning Thomas
n. Taylor had in hand number of additional
reports, from North Dakota principally. all
showing disappointment. Inkster, Blan-
chard, Edmore and Casselton all did less on
particular ground than good judges had said they
would Go. Yields of 10 or II bushels were TAX
en- off ground that stood for ii or 10 befsae
the cutting. J. W. Scott. county auditor. who
has some knowledge of conditions. ventures the
prediction that disappointment will follow in
several districts around Grand Forks. Mr. Tay-
lor had letter from H. R. Aslakson of Ed
more, n. D., who says some fields indicating
Is bushels going IL. 1t is too early to
assume that this means material lowering of
the crop, would it be safe to base too much
results in limited areas in any case. but the
suggestion is there, and it may mean much.
Jones' it will be remembered said in his final
1 report In which he estimated total of
ia 600 900 bushels, that the 200, 600 -bushel
estimates werp entirely honest, and that they
4 fairly represented the promise seen by super
8 fetal examination. He claimed that the shrink
4 age would be found in imperfect filling. and
q that the returns from the machines would show
1t. 1t will be interesting to watch this from
now Meanwhile it is probable that the
4 trade has passed the period of maximum report
the good side, that the best has probably
been heard about the northwest crop.
The pit is afraid of a big movement, nor is
this unwarranted. big Minneapolis run is
entirely probable. Not few in the pit believe
Il that the last dip took the options low enough
legitimately. vet these are the very men who
would not buy 9, Theg argue 1 that when wheat
enough legitimately yet If a man had sold
short then he would have had to stand rise
is the other way, and If the opinion that
Erecent low points We're legitimate bottom he
Rcorrect. the market may go much lower on some
lday of big receipts and heavy pressure. It
Twas the continued short selling by men who
knew that wheat legitimately was TOO high last
year and their later covering, that made it
possible for manipulation to run the market to
the extreme prices. and it may be the buying
by men who feel that it is now low enough.
and their later letting go, that will put 1t
Hover than it ought to be-
/ The report of the Northwestern Miller of the
receipt Of an offer from the United Kingdom
for 100000 barrels of flour was the subject OF
discussion on change. 1t looks like a return
ito old-time conditions in the -four trade.
Minneapolis received 23S cars wheat agains
a1S5, Duluth 13 against 60, Chicago only &C
against 465, while Kansas City got 1913, 900 br
against 900 and st. Louis 113. 900 against
Ella, 600, q showing altogether favorable tc
strength. Winnipeg had - cars against 10
SClearances wheat and flour, 1000 bu.
! Primary receipts ISL. 900 bu against III 8, COO
Broomhall cabled: "Our Argentine agent es
inmates the wheat shipments this week al
q 600 bu against 1900. 900 bu last weeks ac
- atual shipments and 100000 bu last years &C
stual shipments. The corn shipments he esti
mates this week at 2. 900, 900 bu against ZOO OO
Ebu last weeks actual Shipments and 3,C47 900 b,
last years actual SHIPMENTS