The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-08
July Follows Along and Sells to
9e1ac for High, Closing
Well Up.
Growing Weather Wanted in
Northwest and More Sun
shine Generally.
But the Crop Outlook Fully Main
tanned and Promising
Well.

Minneapolis Chamber Of Commerce, May s.
war what the shorts in wheat
found themselves facing this morning. That 1t
was the real thing, that at least 1t was taken
seriously abroad, evident from the fact
that In the London stock market nearly every
stock on the list was down point or so. On
change here the effect immediate. Some
one tried to buy a little May wheat, and the
price left the dollar level and sold at $1oS n,
while July, having sold at the close on Saturday
at 94Ssc, was soon up to e6Ac. 1t was by no
means easy to buy wheat In any option FOR rev
cared to go short, in the face of a situation I'M
likely to work out for war, yet Of mighty I'M
portance If it should go that way. The mere
suggestion of complications between Japan and
France put the shorts into state of nervous
ness, for while they believe, as do many others,
that this scare, like the many gone before, will
fall nat they know that sc or 1Oc jump In
prices would come quickly in the event of a
clash. and how high wheat would go ultimately
no one could fay. 1t was not entirely war
scare market. Enough news of Strengthening
nature came in to have held the price anyway.
Budapest was up again. principally on dry
weather that market now showing &c advance
since Friday last and &c advance in week.
There also the cold weather In our own coun-
ty. So far as the general crop outlook is con-
cerned there is no change and every thing re-
mains highly favorable only the complaint of
rust comes from the southwest and the north
west complains that warm growing weather IS
needed. Altho the bulls have made capital of
these reports, little justification really exists
for bull talk that is based on them. The winter
wheat promise is SO far ahead Of last year at
this time. that there is comparison, and as
TO rust. that is always present and there is moth
ing asyet to indicate that the rust reports mean
anythlng serious. AS to the northwest, the
couhtrymen who are complaining that warm
growing weather must come are all right for
mat is exactly what is needed. but this does not
mean anything very serious either. year ago
at this date much of the land was not even
seeded. and could not be seeded There is plenty
OF time for spring wheat to come along, and If
1t does not come up we'll and give large yields
this season 1t Will go contrary to all reliable
Indications :
The movement of wheat to market was heavier
mere IoZ cars coming in against Ill, but else
where 1t was light, Chicago and Duluth getting
practically nothing. only cars and 1 car respec-
lively While Winnipeg got only 66 cars against
100 Kansas City ran little with 81 900
bu against $4,000, but ST. Louis got only II 900
against 50, 600.
The weather map shows decfdedlv 1o,ror tow,
peratures in the northwest and In Nebrasks
frost at Valentine, showers in eastern Nebraska
Iowa, Kansas, rains in Texas temperatures
higher southwest. The forecast: Illinois and
Malana-Falr: colder except possible showers
southern portion. Missouri-Fair colder Kan.
sas-Cloudy, unsettled. Observation-Disclosures
tonight, possible showers Tuesday The Da.
kotas-Probable showers. Minnesota, Wisconsin
and M1chfgan--Fair, frost tonight.
Primary receipts, 19S, 600 bu against 100 nor
year ago; clearances, 81, 900 bu.
Broomhal cabled: 1.-The large Russian shin
ments and more favorable American crop ad
vices caused quiet opening, with prices un
changed to sd lower. Reactions OF Nd and
political complications over the question OF
French neutrality in the far east. Corn opened
I'D higher. gained sd further the factors
he1ng frmer American and La Plata offerings
and light speculative offerings"
so July closed at e64 @96asc and September at