The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-21
Rainy Weather and Light Local
Receipts Were the Main
Influences.
Some Talk of the Probable Deliv.
cry Of 100000 Bushels to
x.
i Millers on May /.
Activity in Both May and July,
but Some Fear of the
Latter.

Minneapolis Chamber Of Commerce. March Fl.
Light receipts and rainy weather strengthen
and July to 81 TO- May stronger than July.
and reactions July went down easier The
weather covered Texas. Tennessee, Ken
lucky and the Ohio valley, and in the northwest
there were light rains In the Dakotas ana Min
nesota. Missouri, Illinois, Indiana and Iowa has
some precipitation. The forecast is for rising
temperatures and the outlook on the whole IA
vorable for the growing winter wheat and for
early, resumption of farm work in the north
west. The statistical situation, meanwhile. Is
growing stronger Instead of the big run Of
657 cars yesterday, only 100 in today,
which was light, compared With the 242 Of
year ago. The Minneapolis elevator stocks show
decrease Of 275.oOO bu so far this week. At
Duluth 16 oars in, compared with 81; at
Chicago, 81, against 81, while Kansas city had
40 900 bu, against $4,000. and st. Louis 81 900
against $4,000. Winnipeg ran we'll up, with
172 cars, compared with %.
Considers BILE talk Is heard Of the prospects for
May delivery, and the gossip has 1t that Min
nenpolis millers ready to take over 100000
bu May wheat delivery day. The Pillsbury-
Washburr company Is presumed to have the
wheat contracted for.
Cash demand was much better than yesterday
No. northern sold for &c and In some instances
24ac over May. No. northern was salable from
1c to l 1hc over. No. wheat went from &c
to Sc under.
Holt says: "we notice the argument being
used that because July wheat in Liverpool is
quoted at about Csc. that our September wheat
around SEC is cheap at 12c under and practically
on an export basis. 1t seems to that this
argument may be deceptive. Because old wheat
in Liverpool Is worth Csc, there Is argument
that new wheat will command anywhere near
that price in September in the Liverpool market.
With good crop in America this year and
normal prices seems probable, both in
Liverpool and in our markets.
Bradstreets report showed decrease of 1884, =
900 bu in the quantity east Of the Rocky noun
tans and an increase of 500 600 bu in the guam
tity in Europe passage, net decrease in
the worlds visible Of 1S84 900 bu. Corn in
creased 891, 900 bu and oats increased 1882
600 Blu.
Watson had an Argentine cable reporting rain
and this was Strengthening influence.
BroOmhan weekly crop summary reads as fol
1owsi United Kingdom, France, weather favor
able; supplies native wheat small Argentine
Last wheat crop based on threshing returns Of
fcially estimated 14sOOo,0O0 bu. against 1884,
! crop outlook satisfactory, Hungary. Roumana,
Bulgaria-Crop prospects good. Russia-Weathel
past week has been colder. but change in
favorable crop outlook. Supplies grain at ports
small, blockade on railroads worse. Italy
Weather at moment unreasonable. North Africa
Outlook Tor wheat only fair. InGa-Weathe1
about normal; shippers expect fair supplies
early in season, but believe they will be small
in late months
Primary receipts. sos.OOO bu, against Al ,OOC
ou; clearances, $4,000 bu.
The market was very firm to the close, on
buying Of both May and July.
good bit of new buying came in IN July
later but May neglected. altho some
spectators fear to do much In that option
May wheat closed $113s and July al
S1.1OA al 1O3s.