The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-17
Prices Reoede from Yesterday but
the September Option Shows
Relative Strength.
Rumors of a Settlement by the
Shorts, and the Promise Of
Better Weather.
Snow Issues Report Saying the
Entire Crop Is Now Be-
hind Time

Minneapolis Chamber of Commerce, May IL
With reports in circulation to the erect that
the shorts in Minneapolis May wheat mad set
tied or would settle shortly, and better weather
In prospect, the wheat market took on mere
quiet tone this morning. May opened cent
off and sold at $1.14 and $1.14h on few
trades. July sold down to $l.O3A @1O33s and
September to S2a4c.. These were the early hg-,
ures. The market, while lower, was not es-
pecialy weak, and September was inclined TO
react quickly. The temperatures were higher,
Winnipeg showing " degrees above and the
Red River valley had no more rain and looked
like to come. States other than those IN
the northwestern group got more moisture iowa,
Illinois, Wisconsin, Michigan, Indiana and ONO
all reporting little, but at no point was there
anything very heavy. The northwestern line
up Of this morning was a good one, except tor
parts of the valley of the Red and the south
western corner of the state, where the ground
is very soggy. A few days of warm weather
would put these portions Of the wheat area
into good condition, and with everything snow
Ing green, favorable crop reports would again
be a feature. The wet country is right on
the turn. Dry weather will make 1T bloom
but more rain just now would start complaints.
The decrease in Minneapolis elevator STOCKS
SO far this week is 465 900 bu. With this de-
crease was the report of the sale yesterday by
one milling firm of $4,000 barrels -four This.
ordinarily fair days business, looks very good
now by comparison with recent sales. Ship.
1nents out Of Minneapolis have not averaged
much over 10000 barrels day for a time,
hence the sales yesterday, which were above
80 600 barrels all told, suggest a heavier out
ward movement little later Today's post
ing showed only S25s2 barrels shipped Inc
movement Of wheat to market continues light
everywhere except at Minneapolis. Here there
were 81 cars against IS, Chicago had 1 against
q, Duluth 1 macaroni wheat against . a
year ago. st. Louis had only 5000 bu against
2S 900 and Kansas City 20, 900 against 10000
Shows weekly report says: The season,
which at the end of March was unusually early,
at the middle Of May Is distinctly late. Wealth
er conditions for three weeks have been wholly
/ hofh Por fha MI
; for current farm work. Corn planting Is de-
| 1ayed and, where accomplished. termination is
slow and the growth checked by cold and ex-
cess moisture. Wheat development Is now te-
! hind the normal season. and in the winter
| wheat belt is later than last year. Rust ap-
! pearance is scatteringly reported in the south
| west. not yet material, but with threatening
! possibilities in view Of the retarded plant de-
| velopment, both in the winter and spring belts,
which makes possible the completion Of the life
cycle of the rust spores before the wheat plant
natures. Thru the central west water has
stood on lowlands the past week. to the in
I jury of both wheat and OATS Il.
Near the close Of the market country mills
! were reported offering back No. 1 northern to
| Minneapolis. About $4,000 bu was bought at
May price.
Primary receipts, 10000 bu against 1s4, coo
clearances wheat and -four, $4,000 bu.
J A fair sample of the of crop news from
the southwest found in wire from mar
Mt Great Bend, Kan, who operates fifty country
stations covering territory Of 100 miles
1.-THE prospects in territory daily grow
ing worse. We find on the Great Bend ex
tension, where expected to buy the bulk
of wheat this and where we hat
begun erecting elevators, the crop is simply
burning up, each day growing worse. We are
suspending operations at several points where
We had begun the erection of elevators and viii
not build these places this there
will simply be nothing there. We very
much disappointed In the outlook for the mex
crop. We find the Missouri Pacific where
we expected to buy a large amount Of whea
this season. that they in the same posi-
ton and are simply burning up and will have
no wheat whatever" = 81 49,. .-..'.
Twenty-four loads Of corn and loo. 600 br
clipped white oats sold for export today
September at s21a@s2%c.