The Minneapolis journal., 1905-06-16
The Rust Reports Still Doing It. :
A Strong Close Against
Heavy Selling.
Rains Come Down Over Kansas
and Nebraska, Especially
Heavy in Kansas.
The General Situation One O
Nervous Apprehension as
to the Crops.

Minneapolis Chamber of Commerce. June 10
Wheat traders had an uncertain hour after the
opening this morning. September sold to SSc
son early bulge and then turned down bit,
but held very strong. Shorts We're afraid the
market would run away from them at any
time, and stood ready to buy in. Yet more
than half the pit seemed playing for reaction
on the idea that the advance was enough for
the present. More samples OF rust-infected
wheat were in, and more talk of the presence
of rust Spores but the sharp edge was off and
the nervousness less pronounced than yesterday.
Thinking 1t over more at leisure, good many
in the trade reached the conclusion that the
scare. being entirely apprehensive. should not
do much more to the price unless something
additionally bad comes later. 1t Is early yet
for northwest crop scare. There have been
some serious crop scares In June IN years past
but principally they We're drought scares. This
year the word drought has been lost from the
trade vocabulary. There has been too much
rain in many places, and beyond any question
there conditions faVoring the spread of rust
To get scared at this time. however, is to
/ assume that the rust Is going to spread. and
this everyone knows is not necessarily so. 1t
. Is doubtful, however, if the bears can do much
with September wheat, 80 far as Minneapolis
sentiment is concerned. The market may be-
little congested at any time. and
break of cent or two follow. but now that
a condition requiring good weather to overcome
has been pointed out and 1t Is clear that
later on period of a week or ten days of
showers and mugGy weather would start a rust
scare, traders are likely to 60 slow on the
bear side. Everything indicates, at this writ
ing that the less favorable northwest reports
had had their full effect. Should something
additional, of accepted authority, come In later
1t would be different matter.
t. The country got considerable rain again last
night. Canada. the Dakotas and Minnesota had
rains, and Winnipeg had drizzle up to this
was heavy, and at Wichita it poured down to
the oficial measurement of 216 inches Con
cordia got SO and Springfield No, Is. EN-
s poria and Salina had heavy rains and Salina
!: wired that high winds, accompanied by fall
of 2.5 inches, did considerable damage to wheat.
F Liverpool took the rust reports very seriously.
: and opening A@ssd higher, II gid higher
at the close. 1t will be remembered that last
year Liverpool was slow to follow American
( markets on the rust advices. and was behind
3 the advance all thru the excitement. This year
s the English market ia alive to rust possibilities
Z and very wide awake. -.-.
- The Minneapolis decrease for the week should
be 900 bu, from all Indications Receipts
here today were POI cars against Sc, Duluth
had against and Chicago against 20; Win
nipeg got 81 against SO. Kansas City re-
ceived AZ. 600 bu against q, 900 and st. Louis
5000 against "a, 900.
Primary receipts, 265, 900 bu against 223, 600;
olearances wheat and flour, $1,000 bu
The government weekly SUMMARY and Snow S
report were bearish, but the Modern Miller
summary rather favorable to strength. The
Snow report read as follows:
1.-The past week was very favorable for all
crops. Less rainfall and higher temperatures
furnished proper conditions both for growth
4 and for current farm work. Some complaint
4 of lack of moisture is heard in central Missouri
@ affecting and small grain. but the moisture
81 situation elsewhere is satisfactory. There is
scattered complaint of rust the wheat blade,
z especially in Kansas and Nebraska, but no evil
dence yet Of anything more serious than Is
experienced almost every year. The fly stua
tion is unchanged, some local injury west Of
the Missouri river, but not Of consequence. The
harvest in Texas is showing better yields thar
the last report of condition Indicated The
z winter wheat promise has improved since june
/. Spring wheat is making good progress, bu
dry and moderately warm weather is desirable
Local reports continue highly hattering. Tht
oats crop is in high promise, but with some
danger of lodging from rank growth. The corr
position is improving but the crop is still late
3 The market very strong near the close
and. altho heavy selling came at times. prices
, continued to advance. Trade was principal!
q between big local houses. and there NJ
& country buying to speak Of.
September closed at ss14 @ss5sc, July a
$1.O9B.