The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-06
Very Quiet at First, Almost Life
less, the Market Hardens
Later On.
G. E. Lewis Quoted in Chicago as
Rather Favorable to Price
Maintenance.
The Weather Too Rainy in the
Red River Valley, but Not
Elsewhere.

Nnncapolis Chamber of Commerce. June c.
Not for many months has the local wheat mar
ket seen so quiet tone as mat curing the nisl
hour this morning, and SO narrow price range.
Minneapolis September held around S51ac and as
it would not go up, neither would 1T go down.
The trade could not get together win reference
to northwest conditions. That the crop OUTLOOK
is tine and that no fear need be entertained as 20
the maintenance OF condition In the fields is tne
opinion of many. Everything In the country Is
green and nearly all report runs tavoraoie. oh
the other hand, there has been great abundance
Eof rain In the past day or two and the country
already soaked has the prospect OF more ram
Tor tonight for Minnesota In places the recent
rains have been highly beneficial but IN other
places, principally Red river valley Localities.
there has been too much. II the rams shouic
cease now, doubtless all nervousness would De
dspeled, but another fau Ike tnat ot ias'
night which while heaviest around minneapolis
extended we'll into the valley, would start tue
bad reports coming. An element OF strength
slay in the movement which was Hght ny coih-
parison with that of days just past In Mime
apolls there were 100 cars against 1872 and IN Du.
llth II against 40. Chicago getting against
as Winnipeg had only SO cars against 1ol;
Kansas City got 200 bu aga'ns. o. ~ 4 the
ST Louis Ia, 600 against $4,000 SO far on the
week the Minneapolis elevator, stocks nave de-
creased by 115,OOO bu. oo
Primary receipts, 100000 Du against oo@'ooo'
Clearauces wheat and -four, $4,000 bu
Rradstreets report showed wheat east OF the
Rockies recreased 1,722ooO bu; Europe and ahoat
decreased / 100 600 blu; total decrease, 342z ooo
bu. Corn Increased Soo,ooo uu' o"'S "~SAoD~
1,2A 900 Blu. ,,,,
The forecast: Illinois, Indiana. Missouri
Michigan Wisconsin and Mnnesota-SnoWefs'
cooler Iowa North and South Dakota, Neoras-
ka and Kansas-Fair, cooler.
" Rankin wired Chambers: IA ]. l. Case man
inst returned from trip and says he doesn {
care what others say, southern Kansas WILL not
have over one-third of q crop or wheat: having
numerous cancellations Of orders for farm ma
chinery.
Broomhals foreign crop summary: United
Kingdom and France-Benefcial rains have
helped spring crops and wheat prospects now
very favorable. Germany-Rain urgently need
ed Hunyary-Prescnt indicated wheat yield Of
fcially estimated at 143 600 bu against
136 900 600 bu harvested last year. Rumania-
Eine growing weather wanted Russia-Recen'
reports good rains in southwest connrmeo ihore
moisture wanted southeast. lnd1a-Latest re
ports point to liberal exports.
q C. e. Lewis, who Is in Chicago IS quoted al
follows Il came down from the northWes
very bullish on wheat. but am getting LITTLE
mixed now. Minneapolis is drawing wheat IRON
all over the country. Low grades In all mar
kets have been used up more closely than Il
former years. Mills in the northwest have hat
a profitable year, they figure on average price
thruout the year. lose little money part o
the season, but make 1t up In the other part
They have sold their -four the basis of con
tract grade, and made it out of lower-price'
wheat. They will need all the old wheat the.
have to mix with the new. l believe we WI!
not get any accumulation of consequence until
well into September, as stocks at interior point
will have been cleaned up by the last of thi
crop season and will be replenished by ney
wheat which will absorb the deliveries. d
not think farmers will sell wheat at low price
as fast as it sold years ago. ...
July closed at $1.12A and September at $3.50