The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-04
Receipts Run Lighter Nearly
Everywhere and Russia Sends
Bad Reports.
American Prices Now Closer to
an Export Basis than for
Long Time.
The Northwest Apparently All
Right Despite Some Bad
News.

/. Minneapolis Chamber Of Commerce, Aug. A.
The improbability OF any great decline in wheat,
price basis was the big bull argument this NOR
{ ming. The price of No. 2 red winter wheat
4 in Antwerp was equal to $3.50 in our money,
while No. red could be bought in Chicago ana
: laid down in Antwerp at about "a 1ac. This was
a shifting proposition, the difference varying
with changing quotations, but actually represent
ing only &c difference at time. There
was some disposition to question the American
figure, and one exporter thought it would take
) too close calculation to get the stuff to Ant
werp at 941sc to afford much profit. The main
argument remained, however, that the export
basis Is not far away, and the bulls took heart.
Following this there came number Of other
bullish things. The International Harvester
company, harvester trust" so-called, does
1 big foreign business and its Russian advices
were that the present crop promise Is for about
rs per cent of an average yield. Liverpool was
steady and I'D up at the close, Broomhall at
trtbuttng the frmness principallyto wet weather
In the United Kingdom, but as Liverpool will
take long holiday over to Tuesday next, little
may be expected from there meanwhile. The
movement also favored the strong side, Kansas
City getting only 167,0 900 blu, against 100000,
and st. Louis 100000 against $50, 900. Mime
apolis ran over with 157 cars against 95 and
Chicago also with 1873 against 90, Duluth get
ting only Is cars against SO and Winnipeg 8
against 80. Minneapolis elevator stocks showed
decrease ofabout $500, 5000 blu for the week. The
weather northwest was very good, the only
easinessappearing at Hillsboro which point
cWfeu Lewis mat temperatures were rising and
with heavy dew there possibility of a re-
v1val of the rust fear. The forecast is for prob
able showers and cooler weather tonight for Min
nesota and the Dakotas.
: John Marfeld, in Chicago today is quoted
as saying that the recent good weather saved
the northwest crop.
Z, later MlllSboro message telling of rust de-
Velopment went to Chicago direct, and scared
that market little, but Magnusen of Minneap-
OILS communicated at once with that point and
got report of everything favorable, while Rollin
Smith had some Hillsboro samples, thought by
the sender to have rust, that proved to be sound
and healthy. The first inquiries for bids for
No. l northern wheat to arrive were received
from South Dakota by Griffin Morris and by Mar
feld-Griffths indicating that someone has new
twenty days.
Wrenn wired Watson that there private
cable that started the market up, saying Rus
sia-Rostof territory yield is bad, will average
: 90 per cent. Odessa territory crop medium in
quantity, average quality; Riga territory, an
average yield Of Is per cent. Siberia crop esti-
mated above an average.
g The Modern Miller says rains have interfered
with threshing Of winter wheat in Kansas Mis-
Is reported to wheat in the shock. The crop
south Of the Ohio river In the southeastern coast
states and In Texas Is in poor condition, q
considerable portion being unfit for milling. Far
mers press the poor wheat for sale, but show a
disposition to stock store choice grain on
recent declines in cash prices at the markets
The disposition to hold wheat is quite marked
soil is generally we'll moistened and in good
condition for this work.
Primary receipts ZOO Blu against $50 OOO
Clearances wheat and -four 70 900 blu.