The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-20
September Wheat Falls to 1870
When 200 Cars Show Up in
Minneapolis.
Then It Turns About and Sells to
1870, Closing the Day
Well Up.
Gcod Weather and Fine Prospects
Gossip of the Day on
Change.

,,,o.no,is Chamber of Commerce. May 90
Two hundred cars OF wheat turned up IN AZ. . ~
apous this morning This was 100 MUCH i' e
bulls and altho September was down oc Aot
high point at Yesterdays close. ana many
thought the decline sufficient for the tlme' ahotlS
er 1sc came off when the market openeu u ~
S2hc was reached The pit crown iooNeu ~
A break In Chicago, but finding that 1haiAe.
very stubborn there quick rush 10 DuS Az
short stuff and September jumped 1ron OF.
TO s3Mc in a minute. Then 1t sold TO so7ec anu
held, while the traders watched other ina.
May corn was strong pnd active IN chicago aiN,
Il had some effect there IN holding wheat. Goou
buying appeared In minneapolis sePleNlpc4
around s8c and 1t clear that there were
some houses here willing to take 1t Oh at that ns
ure The bulls found some encouragement IN
j the fact that Of the 200 cars here sooo par
was from Chicago and considerable winter "hea'
also appeared This showed that the stun conf
ing in did not entirely represent an increase In
the northwest movement, but rather the senolng
here of wheat already visible and the Mining up
OF this market with wheat that VIII lehVe no!e
somewhere else Nevertheless, 1t was wheat
and it looked big and worried holders not a
little. AS to the weather, it was Favorable
everywhere. The forecast was not the best pos
stble, neither was 1t very bad. showers are
probable for Minnesota and the Dakotas over
Sunday. Iowa and Nebraska are due for CLOUDY
skies aud possible showers and the same stands
for Missouri and Kansas, except that for Kansas
some rain appears almost certain. SHOWERS lol-
lowed by hot weather would give opportunity
for revival of the rust scare.
The estimate Of the decrease in local elevator
stocks fell short Of realization again, as 1T did
last week. Yesterday the estimate was for a
falling of 100000 bu for the week. but the de-
tailed statement of today shows decrease Of $685.
435 bu, leaving 7,434, 1916 bu in store. Receipts
at other markets were cars at Duluth against
s., and ut Chicago against 7. Winnipeg getting
81 against e., while in the southwest st. Louis
had 10000 bu against 900 and Kansas City
600 against $4,000.
MARRIED. had wire from L. p. Frazier, Chi
cage calling attention to the maintenance Of AT
export basis for September wheat against the
alternate strong and weak markets. September
in Liverpool being 14a4c over Chicago September
and London October wheat 1890 over.
Secretary Wilson Of the department of agricul
ture. who in Chicago quoted saying
that wheat prospects In the southwest are good
He has made an extended tour thru that section
the past ten days.
Near the close Commons got the following from
the United Grain company, Toledo: wheat II
Illinois, Indiana. Ohio and Michigan, we'll az
Kentucky and Tennessee, In condition Is nearly
perfect it be. having improved to
points siuce the last government and state report
erage from % to 40 blu thruout the whole terri
tory. Given three or four weeks Of favorable
weather and the country will be selling new
wheat for July shipment in large quantities."
Primary receipts 2S4, 600 blu against 146OOo
clearances $1,000 bu.
Near the close the market turned very strong
and September sold to 81 nc, closing at SAN q
S4Ae. a,-.., +, -