The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-03
May Sells to $1.1311a-Good
Weather and a Bearish Rul-
ing in Chicago.
Another Cargo Comes Back from
Antwerp for New York
Flour Mills.
-
Winter Wheat Crop Reports Indi-
cate a Fairly Good Con-
dition.

Minneapolis Chamber Of Commerce, March B.
AL the grain trade waited this morning for
B. W. Snow, the Chicago crop.estimator, who
had announced yesterday that he would issue
a report winter wheat That the report
would be unfavorable the prediction, hence
there were not many who cared to sell wheat,
and the market, starting In easy, sold up
fraction to $1.12& and held between $1.12R
and $112A to IL o'clock. The news meanwhile
was against the price. The weather, 1amb-like
as ever, Is In for change apparently, for the
forecast is for fair tonight and Saturday for
Minnesota and for even weather generally. The
bulls figure that once the weather turns bad
they may have to wait a little while yet, to
judge from the present appearances. 1t Is
hard proposition to bull wheat in the face Of
continued spring weather, even tho many feel
that this cannot last, and that winter will
come back again before spring really opens
With the good weather pressure there was an
other report Of the resale Of wheat cargo
to America Pfarrlus of New York did the
business, and wired Commons to that effect.
It was lot Of $4,000 bu Oregon wheat sold
to Antwerp and now coming back to our coun-
tween European and American markets. As If
this was not enough to weaken the market,
King of Toledo sent in a report Of the condi-
ton Of the growing winter wheat in Ohio,
making the March stand equal to II, de-
cline Of only 1 point since January. year
ago Ohio stood as low as 50, and by July had
fallen to 80. hence the present condition Of II
was by no means bullish On top Of this came
the action Of the grain committee Of the Chi
cago board of trade. This committee has changed
the requirement for type samples Of No. 1 north
ern 30 that instead Of a 57-lb requirement, 671a
pounds Is allowable. The committee fig
: ured that considerable wheat from the north
west will come to Chicago, and 1t may be light.
The Significance Of this Is in the fact that in
the event Of deliveries of May wheat in a
congested market the bulls would have less op-
portunity to reject light stuff being not up
to contract requirement. AS to the Argentine
shipments. estimated yesterday likely to run
large. there stand-off for while the
figures at 3,7o4, 900 bu big they were
under last week, when T. 800, 900 bu were shipped,
and only trife over the 1854, 900 bu of a year
ago
The local receipts totaled 25o cars, compared
with 252 year ago. Duluth got against g.
J Chicago "a against IT and Winnipeg had 12a
against A.
Primary receipts were 372,O0 blu against 465,
900 Kansas City received $4,000 bu against
10000 and St. Louis 81 900 against 48, 900.
Cearances $4,000 bu.
Chicago says there is better inquiry for corr
for export. Kansas City reports good southern
demand with cash 1c May and stocks dow
to JIG, 900 bu against sec, 900 bu year ago.
Bradstreet's report Of clearances shows: Whea1
aud -four, this week, 907 900 bu; corn, ALI 900
last week, wheat, 923, O22 bu; corn, 1927 900
last year. wheat 1,643. 900 bu; corn, 1881, 900
The Modern Miller says: Weather conditions
have been unusually favorable and wheat looks
good, especially where the winter wheat plan
has come out from under its cover of snow ant
the top growth Of the plant Is small, more partic
ularly late gown, which in some sections does no
show above ground otherwise the plant wher
exposed appears green and healthy.