The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-23
The Bears. Facing a General
Change Of Sentiment as to
Wheat Prices.
The Modern Miller Bullish- Rain
from Manitoba South Into
Kansas.
Snow Says Spring Wheat Flour
ishing, Which Is Contrary to
til Local Advices.

81 Minneapolis Chamber of Commerce, June rs
Rain everywhere ard more to come and increas-
ing realization Of the seriousness OF the s1tua-
ton and Of the necessity for an immediate
change for the better--this was the feeling the
bears had to meet this morning. September
wheat opened cent up at soc, just under calls
price of last night 1t sold to 90Ac very quick
" then fell back to 9Ohc and held firm, show
ing god support and increased strength on the
reaction, and other signs that the pit took to
mean still higher prices The weather was
about as unfavorable 1t Well could be. Rain
fell all the way from Winnipeg down to Kansas
and it raining at Winnipeg when the mar
ket opened. 1t was also raining at Q'Appelle
where /. 34 inches had already fallen, and fur
Their down there was more or less. This was bad
and very disturbing to the trade. For days the
fear of damage to the northwest crop has been
put behind, because always there was the hope
that the next day would bring the end or the
long bad period, but while even yet there is
hope that all will be right, the rain Of last
night and the prediction for more Is almost the
last straw. If 1T the northwest alone
that stood in unfavorable position it would not
be bad, but in. the southwest. where the
harvest will soon be general, the weather Is not
what could be desired. Showers were reported
from Emporia to Newton, Kan. and at Z am.
rain was falling at Omaha. st. Louis had had
a fourhour rain and it was still coming down.
Lincoln and Grand Island had much the same
onditions and Concordia showed up 1 so inches
with probability of more. The Ohio valley had
rain and drizzle to o'clock at Gin
cinnati. This certainly justified fear of later
paQ news from the WINTER wheat
Jones came back from the southwest and gave
out premliminary summary. His final figures,
he says, will be reserved until he goes thru the
Ohio valley again, but the total winter wheat
crop Of the country he figures will be somewhere
between 34O, OOO, 900 and $40, 900, 900. This was
the last blow to the bears 1t indicates win
wheat crop much smaller than anyone else has
talked of, and much below what the last govern
ment report figures suggested.
II Minneapolis got lat cars compared with 149,
Duluth 20 against Sc and Chicago 1 against s.
Winnipeg received 81 cars against 49, ST. Louis
10000 bu against 900 and Kansas City q 900
against q, 900. Minneapolis elevator stocks will
decrease about 100000 bu for the week. Il
Il The Modern Miller says: In response to in
qulries In regard to the, prospect of the yield
and quality of winter wheat and as to prob
able movement if the weather is favorable for
the harvest. reports from milling correspondents
show that in the southern part Of the wheat belt
the outlook for yield and quality is generally
below average, being the poorest in Texas.
Tennessee and the territories. In Illinois and
southern Missouri the yield and quality varies,
generally being below average. but excellent
yields are promised in Kansas and the quality
Is good Prospects in Nebraska are good except
in southeast counties where the crop has been
damaged by fly. There are some uneven yields
in southern Indiana, but the average for yield
and quality is good. In Michigan and Ken,
lucky the prospects are excellent for larger
yield than last year and for good quality
With favorable weather the crop will move
late in July and early in August, according tc
the latitude. The crop has begun to move IL
Texas and Oklahoma, but harvest has been in
ferrupted In many states by rain. A number
Of correspondents say that sales by farmers viii
be influenced by the price. Some report thai
they will hold if the price is below 9Oc to 81
at the markets. ..-. =
Shows weekly report says: Weather condi
tons of past week generally very favorable ant
ali crop prospects maintained or improved. Sprins
wheat condition continues very high and tn,
crop is developing rapidly. Previous lateness II
growth has about been made good. Reports O
rust based more largely upon apprehension en-
gendered by last years experience rather tina,
any currnt development. Rd rust shows on th
blades every year. but srious damage follow
only when weather conditions and character
istlcs of plant growth combine to favor th
growth of spores. There is as yet no defnit
indication that such conditions prevail this year
n PRIMARY receipts. 232, 600 bu against IL OOC
September closed at 9oasc and Decembe