The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-05
Some Bullish Russian and Ru-
manian News and Stronger
American Statistics.
But the Northwest Crop Situation
Continues Favorable and
Traders Bearish.
All Now Waiting for the Thresh-
ers to Tell the Story of the
Yield. b.. d

Minneaolis Chamber Of Commerce. Aug. o.
Wheat sold down again today and closed the
week depressed and at low point, SSc for Sep
TENDER. There was lack of news from Liver
pool, that market being closed for long holt
day, but some bulsh gossip came across rela-
tive to the European crops, some more RUSSIAN
damage talk cabled over and new factor
arose in the shape of drought report from
Rumania. With this the domestic movement
not overly burdensome, and one or two
strengthening things appeared, In the statistics
Anything Of the sort received little cons1dera-
ton. The trade is watching the situation in
the northwest and hanging on the reports from
the fields. Some little fear felt yesterday
and again today lest temperatures run up high
enough to rust to spread, and, there
mugginess in the air last night, the con-
ditions seemed favorable for the receipts Of
rust rumors, but little Of the sort came
in. The feeling in the trade is that everything
Is about favorable for the northwestern crop
at present as 1t we'll could be. How much dam
age the rust has done, or will yet do. is debat-
able but as the wheat comes along closer to
maturity it Is seen that the rust has got to get
In Its work pretty soon or not at all. The
trade Is anxiousy awaiting threshing returns
from the fields where wheat Is being cut.
and the market may turn on the first reports.
AS yet not single threshing report has been
received, and it is early to expect It, but next
week there ought to be few. AS these
ports come the trade will be able to see whether
not the rust-infected fields have been hit,
whether the theory that the rust visitation
this year is less virulent and that the wheat,
even against the rust, will yield we'll has merit
not.
What the bulls have got to contend against
is fairly we'll illustrated by the following report
to Pringle. Fitch & Rankin, who have a man
in the fields.
Writing from Pierre, S. D.. he says: "The
wheat harvest is now well under way in this
state. I out in the country last Saturday
and passed two fields Of wheat harvested Which
good for 25 bushels an acre. BY Saturday
night of this week so per cent Of the wheat in
r., It'll No ho~ rkoI
able to learn Of any serious damage by rust.
Now and then little touch of blight Or rust
in portions of some field has cut the
yield of the field a little. but 1 now believe
that the average yield Of wheat in central
South Dakota this year will be about the high
est we have ever had and exceed 20 bushels an
acre for the general average In fact, l have
not talked with any one yet who thought their
wheat would so less than 20 bushels to the
acre. The weather has been perfect the last
week and fair weather predicted for tomorrow
This is reliable Information covering the
trail portion of South Dakota and believe will
apply to practically all Of the state, excepting
a few small localities where there is q sur
plus of low, fiat land
The bulls say they willing that this sort
of comment should its course, and that
when the machines get at work and the thresh-
ing returns begin to come, they will have their
turn.
Primary receipts today were 912, 900 bushels
against 800. 900 year ago, and shipments 537,
600 against $4,000. Clearances wheat and
: hour 3Z,0UU DuSnelS. MlnneaOOuS got 1854 cars
compared with 131 last year, Chicago 242
against 11S and Duluth 81 against A. Kan
sas City had in 233, 900 bushels, against PSI,
900 and st. Louis also fell under with only
152, 900 bushels against 1874, 900.
The American Cereal company has issued
very favorable report all crops in the west.
A coterie of Wall street men who have great
confidence in the Cereal company's reports were
largely buyers of western railroad stocks on
them yesterday. Duluth Commercial Record re-
ceived reports yesterday from so stations thru
North Dakota and Minnesota and there was
not bad one in the lot. Hicks the weather
prophet, is out with a prediction of very hot
weather for the southwest this month. There
are a few complaints from northern central IL
linois that the crop needs rains and the
next play in the corn market is expected to be
drought scare
Poeh1er says: 1.-The wheat crop in the north
west is progressing rapidly and every day OF
favorable weather means much in the way OF
assuring bushels. The crop is spotted, there
being poor, fair and good fields In practically
all sections of the northwest. Black rust is
doing some damage in several portions of North
Dakota and northern Minnesota, but no locality
is as yet threatened with a calamity. At present
the northwestern crop promises to be av
erage one.'
Minneapolis elevator stocks decreased 479
1872 bushels for the week, leaving 3,133,315 bu
in store
BroomhalHs Barcelona correspondent esti
mates the Spanish wheat crop this year al
10S, 600 bu against Sc, 00O, 900 bu unofficial
estimate of last years crop. In the United
Kingdom the weather continues wet and stormy.
Estimated worlds shipments 100000 bushels