The Minneapolis journal., 1905-08-22
September Strengthens on Firm
ness Abroad and Broomhall
Summary Of Europe.
The Weather About Perfect All
Over the American Spring
Wheat Fields.
Wheat Must First Strike an Elk,
i port Price Before the Bulls
Can Operate.

Minneapolis Chamber of Commerce, Aug. %.
with a frmer tone and European cables
generally higher, wheat traders stood away
little from the bear side today and September
wheat, on fair buying, rose to S39s 0S3&c by IL
O'Clock. Liverpool was $ up against our weak
ness of yesterday, and this brought prices closer
TO the free export basis so long talked about
and apparently SO necessary to reach before the
bears cease their aggressiveness. AS soon. how
ever, 1t began to look like getting together
the bulls put the price back up on our side and
ran away again from the level at which we are
to do our business with Europe. This export
basis is uncertain and shifting thing 1t 1s
matter not Of price, but of relative price.
There is no great pressure for it, no great rea-
son why should Immediately slam our prices
down to 1t because have surplus to sell,
or will have as soon as the stuff is in. Consid-
eeration of the export basis herein Is purely
Speculative. 1t has been said that wheat can
tnot be bulled no matter how much wheat we
may or may not have, or how much 1t may
really be worth. The trade the country over IS
imbued with the idea, probably correct enough,
that to have big jag of wheat to sell
abroad, hence, matter what comes along In
&the way of bull news on our side or on the
5other, the bulls will get no chance for another
campaign until this changing and dodging ex-
port price has been grasped and held for a
time. This is about the speculative situation
today
An influence of great Importance, the effect
Sof which will be felt later on, is the crop of
the Canadian northwest. This morning G. F.
Piper, who is with the party of Minneapolis men
tai City, Manitoba, to Denn,an Johnson: Crops
winnipeg south to Roserfeld and west to
$Marden below average; Marden to this point
good; harvest in three day to week" From
Regina, NJ W. T., Mr.. Piper wired late: 'Crop
in southern Manitoba fair, but need ten days
vet, and southwestern Manitoba good and har-
&vesting has begun. From Portal to Moose Jaw
very good and farmers harvesting Saw the
best wheat fields I ever saw at Moose Jaw and
they say even better from here to Brandon
harvest will begin In this section this week,
vfptNr thof xr{n 0hNf1t
twenty-five bushels per in Manitoba and
the territories, which means s5OO0OOO to co.
200 bushels. No frost yet; weather clear,
but cool today
Primary receipts 553 900 bu against 597 oOO
sClearances, 100000 bu. The wheat visible, de.
layed from yesterday, shows decrease Of 1T 0OC
bushels.
The weather is about good If made tc
order. The Canadian northwest temperatures
are IS to 5S clear; northwest, 50 to 81, clear
s vest, 81 to 72, partly cloudy: Omaha, 40
Sioux City and Platte trace; Davenport, "a
raining; Springfield, ILL.,, raining, .O4 Dubuque
trace; Des Moines, 1.26; southwest 6S to 76
part Cloudy St. Louis & aansas n Isl = City and
The forecast reads follows Illinois and
Indiana. fair in south. showers north tonight
Wednesday fair; Missouri fair tonight and
"Wednesday; lower Michigan fair tonight except
showers southwest portion, Wednesday fair; up
Sper Michigan, Minnesota, North and South Da
kota. Nebraska, Kansas Montana and Iowa. fail
tonight and Wednesday; Wisconsin, fair II
north, showers south this afternoon and tonight
"Wednesday fair.
Siaz Broomhall issued the following summary
United Kingdom, liberal supplies new wheat OF
satisfactory quality; France, reports contradic
tory, but believe one of the third crop Is poor
remainder fair to good; Germany, harvesting
finished under better weather conditions; Prus
ista, official report Of condition Of crops pub
flshed Aug. Is gives wheat condition 78, rye
{ and oats "a. This compares with 75 for whea
and IS for rye and oats; Rumania, rains have
improved the situation and crop is expect
ed to be sufficient to supply home needs; Russia
! Sthreshing northeast below expectations, daily
press contains predictions of famine, but W,
think they are exaggerated; Sweden, officia
yield wheat and rye Is satisfactory, qualit,
somewhat damaged, other crops fair.
Bra adstreet's report shows wheat east Of tn,
Rockies increased 1,462, 0O0 bu; Europe ant
afoat decreased 100000 bu; total increase
1892, 900 bu.