The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-20
September Wheat Sells to 1910
and Closes on Very Mode->.te
Reaction.
Black Rust Reports in the North
west and Higher Liverpool
Cables.
An Active and Very Excitable
Market With Heavy Buying .
Noted.

minneapolis Chamber of Commerce, July Co.
wheat went adjoining this morning, selling
up Dy Dig Jumps. Reports of black rust in the
nelds came In from facilities in Minnesota and
south Dakota where conditions to date have
peen considered very fine Aberdeen, Milbank,
Watertown and Mitchell were points sending in
pau news. Later number of other points fol-
lowed. The more conservative element on
Change still held the view that the crop is
not badly hurt. Indeed. 1t is reasonable to
suppose that there is considerable of scare
ABOUT It, At the same time the fact remains
that the dreaded black rust, what looks
ptctously like it, has really appeared. To what
extent it will spread and how serious it will BIO
: In the final count the considerations. The
market meanwhile is extremely nervous and the
trade excitable. There was little selling in the
early rise today except for profit taking and
every new buying order of any size sent 1t
higher. The bulls, having had hard time of
1T Of late, found things suddenly turned in their
favor all around. Not only were there many do
nestle features on which they could operate for
rise, but Liverpool came in rs gid higher on
first cables, and ~ @1esd higher later. and the
Rroomhall cable stated that the strength was on
reports of damage from drought in Russia a
bad report from Spain and the rumors of black
rust in the American spring wheat fields. Some
suspicion had arisen that Chicago Minneapo-
lis might have sent few buying orders across
to Liverpool to start that market going and give
an appearance Of general strength but the fact
that the Broomhall explanation gave greater
prominence to the Russian and Spanish advices
than to the American reports, killed 1t. The
market may be briefly summarized as extremely
,..scary.'' The difficulty in trying for fair
an1ysis is In the undoubted seriousness OF black
rust. If this is to spread the damage might be
very great. Weather Of the kind favorable for
Ats spread might send it thru the fields like
!wildfre, hence 1t VIII not do to treat 1t lightly
or merely as bull influence for man1pula ton,
for black rust under certain conditions will do
hts bad work whether there are any bulls or
not. Yet to assume that the appearance or
black rust necessarily means the cutting OF the
crop very materially might be to go too far.
Ths weather will tell the story.
The Northwestern Millers says: 1.-THE weather
last week in Minnesota. North and South Dakota
was very favorable for the growing wheat crop
While the last three or four days have been
tremely hot, they were tempered with cool
breezes and no damage has resulted reports
received from almost every section OF me noren
west indicate marked improvement In the crop.
Cutting will commence In some parts as cary
as usual this year. but In most places the crop
is said to be two weeks late noWSeer, ,ont,n s
believed that If the present good weather oohun-
mes the crop will make enough progress TO SNORT.
en- this delay. In parts of South Dakota wneat
has headed out nicely, and the prospects h hae
excellent So far altho special attention mas
been given to the investigation no signs OF
black rust have been discovered"
The Price Current says corn crop crop nsmers1
promise Much being strictly hne WINTER anu
spring wheat situation equal to recent past "ltn
some drawbacks in quality Of winter gram from
moisture. The spring wheat retarueo AaiineiS
selling rather freely"
spencer-Moore wired from Duluth: I'VE are
getting reports from most rehaole peopie Ia
indicate that the present stand of wheat Is Well
s ;h nrfec+ Weather conditions are all that can
be desired sired but very hot weather. would hurt.
The weather map showed the Canadian .+ horsnt
temnerature Sc to &c. partly cloudy; Rapid City,
/ Os: no rain elsewhere. West, temperature
90 to partly cloudy Des Monss "a s sPr,1s
Dodge city. .66; Concordia, trace; Springfield
Mo- 81 and raining; Oklahoma, ~; thunder
storm at Kansas City; Fort Smith Ark:,I ~:
Ohio Valley, temperature 70 to IS, partly cloudy;
Columbus, 90 indianapolis, .12; Parkersburg,
w. Va, 1.04.
St. Louis got 21s,OOO bu against 900, and
September closed at 921s @e2Ac and Decem-
her at soc, s-''-S7""- .r7--