The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-06
Strength and a Higher Range at
First, but No More
Fireworks.
An Irregular and Unreliable Mar.
ket Unsatisfactory to All =
Concerned.
Better Weather in Prospect-Gos-
sip of the Day in the
Grain Trade.

Minneapolis Chamber Of Commerce, April g.
Intense nervousness the feature in wheat
this morning, and uncertainty marked every
phase Of the trading. Chicago May wheat was
by Ac to sc some trades. Minneapolis
May was up to $11l& and down to $1.10b,
then up to Sill on few little buying orders
and down to $1.1o1a sale or two. July was
less erratic. ranging from $1.O6 to lon on
the bulk of the early business. at IL O'Clock
the market looked If it might break cent
or go up cent with equal facility, everything
Ringing upon Chicago May. Chicago houses
again sent out telegraphic warnings to all spec
ulators to steer clear Of Chicago May. and stat
ing that in case Of excitement orders might
be executed &c away from the market at time
the orders were given, and that Chicago and
Milwaukee might pull apart cent or two either
who insist upon trading in Chicago May it was
suggested that margins be sent large enough
to cover it up to $1.3O down to DOC. Evil
IDENTIFY the commission houses fear that, while
the clique may run 1t up with a rush. 1t may
fall sometime when least expected, and IT 1t
does break it will break hard. Every sort of
unfavorable thing that can be detected is being
put out from Chicago. and the report this morn
ing was that Manitoba is too dry. Nothing OF
the sort came to Minneapolis; indeed, the more
recent reports in here were Of some little delay
to seeding owing to general rain and sleet The
southwest has few bad spots. and these are
sounded every few minutes and If a bad thing
is discovered it goes out at once masnihed
considerably. Against this the general crop
promise remains highly favorable. Receipts
picked up little and again overran the last
year figures, with 214 cars in against 100. Du.
luth had against IS and Chicago 10 against
81. St. Louis showed up "a, 900 bu against 5000,
Kansas City $4,000 against 1900 and Winnipeg
&c against 55.
Minneapolis stocks decreased 100000 bu to
this morning.
Foreign markets were lower, except Berlin,
which closed &c up. Budapest was 1sc down
and Liverpool %@Ad lower.
The outlook is for better weather. The fore
east is for higher temperatures for Illinois, Mis-
souri,, Nebraska and Kansas fair and warmer
for the Dakotas and Minnesota. with showers
possible. and probable light frosts in Wisconsin
and Iowa.
There is nothing in the Northwestern Miller
cables to indicate improvement in foreign, mar
kets: Glasgow, Liverpool and London alike re-
port extremely dull trade and weak prices tend
ing in buyers favor without response. The
report from Amsterdam is of similar conditions
to those ruling the United Kingdom markets.
The Miller says: with declining wheat
market most Of the week. Minneapolis mills
found trade in flour extremely dull. 1t was
the most unsatisfactory week yet experienced
Sales a good deal short Of the output
Buyers seemed to want flour in the most lin
tied way. They no doubt have their eyes or
the September price of wheat, and since thai
future is 24c per bushel less than spot No.
northern is selling for in the Minneapolis mar
ket, they deem it good policy to take -four only
as their actual needs require. But the fact
that the deferred future is selling on that basis
does not signify that that will be the price
of flour when September comes. The condition
or the NORTHWESTERN crop Ut tHdt udte Will eiIei
into the calculation. One good feature about
the situation is that with buyers taking foul
only as they need it, stocks are likely to be
very small when the crop is entered upon
and that would be the best kind Of foundation
for heavy and profitable trade in the fall
Primary receipts were 1925, 600 bu against
274 COO: clearances. 900 bu.
Broomhall cabled: reports of hard frost II
Kansas Oklahoma and Texas caused firm open
ing with prices Sad higher. steadier feeling
in cargoes was also n factor. and additional
gains of "A aid were scored Corn. after open
ing sd higher, further advanced I'D. the fea
tnres being an advance of 415d in La Plata par
GELS and very light stocks thruout the United