The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-09-01
September Wheat Rises Above
83c, While Spot No. / North
ern Falls to 85c.
Rains Make a Little Nervousness,
but Nothing Serious Is
Expected.
Canada Apparently the Coming
Factor in the Shaping of
Prices.

Minneapolis Chamber of Commerce, Sept. L.
September wheat above SIC was the showing
this morning after hour of trading during
which the market moved up by small grains.
but very steadily. Cloudy weather still ruled
and at Winnipeg temperature of IS and u
drizzling rain made the outlook rather unfavor-
able for late harvesting. The American north
west, while showing conditions that might turn
to rain at any time had no fall heavy enough to
DO serious and the forecast was for fair weather
tonight and Saturday and cooler tonight. While
the bulls were able to hold up the market for
the futures, cash found it not so easy at
the tables and prices were lower. No. north
arn on spot was quotable around Soc at time
when the September option was just under S3c
so that the difference between the cash article
and the option narrowed Elevator men
are looking forward to such readjustment OF
differences as will establish the cash article on
a profitable hedging basis. and it looks as
though they going to get it. No. 2 northern
on spot quotable from Sic to S3c, No. 5
wheat Ts@79c and No. 4, 75@7Sc, while No.
northern to arrive was nominally &c over Sep
TENDER and No. northern to arrive lie under
Demand was slow. Some No. 1 sold early at
SIC, but this price covered only few choice
cars. Later&on, when the option turned stronger,
cash wheat did little better again, but on
the whole it was not satisfactory session for
sellers, up to noon.
In Chicago 100000 bu were delivered on Sep
TENDER contracts. No attention paid to 10
cal deliveries, were there any worth noting,
there being practically nothing to deliver, the
further decrease Of 1925 900 bu this week bring
about 100000 bu will appear in tomorrow s
statement. Minneapolis got 35S cars, compared
with 253 Duluth Is against %, and Chicago
81 against 50, st. Louis had 100000 bu against
161, 900, Kansas City 267,O0O against PSI 900,
and Winnipeg 10 cars against A.
@. F. Piper returned from the Canadian
northwest. The indication to date he says is
FOR %, O0O, 900 bu wheat in eastern Canada and
-e0,0 900 in the west or in all 115, 000, 900.
With 40, 100000 bu out for home requirements
Canada has an exportable surplus of 100000
bu. These figures are, of course, approximate,
sEd will perhaps be subject to some later modi-
hcatton but for a general glance at the Ca
madam situation, 30 far as it Is possible to see
1t at this date, they are highly interesting. 1t
looks more every day though Canada Is to
play more important part this yesr than ever
before in the worlds supply and her competi-
ton will probably be the factor Of greatest i'm
portance with reference to American export
trade.
Along this same line of consideration Of ex-
port possibilities, Poehler says: "Sales for ex
port at Kansas City and Chicago show that win
Ter wheat markets an export basis. This
IS encouraging, but the question is, how
much wheat can be worked present basis
Ind will foreign markets hold up? AS to the
'ormer question a few more days will tell
md as to the latter one, 1t is reasonable to ex
Dect steady foreign markets If crop reports re
sarding French, German Spanish, Russian ant
indian crops correct. Available supplies
Il wheat in Europe ample for the mex
hirty or sixty days, but they will become dgh
sixty days If a fair amount of American
Wheat Is not bought Immediately and shipped
We're it not for the big Canadian crop that will
nove soon and go to supply foreign wants, thu
ituation in this country would look bright ant
9th December and May wheat might be goo<
urchsse. As 1t is, it might be good policy
80 wait for further Developments in the way o.
Xport business.
Primary receipts, $4,000 bu against 800 900
The Modern Miller says an unusually large
Ill demand for grain drills and fertilze
oreaders Is reported by implement dealers Th
dictates that large acreage will be put int,
inter crops and that cultivation will be bette
Ian before. There is no increase in deliveries
he present movement is principally due to sale
= country elevators or exchange OF stool
stween the markets.