The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-29
Very Dull Trade and Lack of
Speculative Interest Make
for Decline.
Cash Wheat Off About a Gent
Primary Receipts Run Much
Lighter.
Bad Weather Might Help the
Bulls Even Yet-News of
the Day.

Minneapolis Chamber Of Commerce, Aug. 90
For dullness and light trade the early session
today beat anything seen In the wreat market
for months. Literally there was nothing doing
September sold from S21s to S2B cents and
trades ran to little lots So dull was the pit,
that from excess of it, a break was anticipated
The waiting mood is now on the grain trade
and where it will lead the market to Is uncer-
tain. 1t is rule in wheat that dullness pre-
sages decline This does not always work out.
Sometimes the d%liest period is the best time
just now. The general impression has been
made upon the mind Of the trade that the crop
is big and that nothing possibly hurt
1t and that the movement swens prices must
fall. Chicago had the feeling even pro-
nounced than Minneapolis this morning, and Chi
cago September sold down to TO cents, Mime
apolis finally going thru the point. where, on
four successive dips 1t had heretofore been
checked and selling at S11s cents. It Is true
the crop is all secured and the prospect very
bearish. Still, to assume that nothing could
happen to change the northwest situation would
be to 60 too far. Two years ago rains began
falling about Sept. ! and lasted for ten days,
and bull market followed. The crop that year
smaller and poorer, and later in the ma
turty, that exact comparison Is possible.
Nevertheless a change In the weather of the
permanent sort and continued rains for week
would have bad effect this year. Today
the weather Is all that could be desired, and
the forecast is not bad. Local rains pre-
dicted for eastern Minnesota tonight and
Wednesday, but for the Dakotas fair weather is
The movement again showed comparisons
rather favorable to price maintenance, but
again the trade ignored it. Minneapolis got
only 162 oars compared with POS, Duluth 1e
against co. Chicago 81 against 1876, and Win
nipeg II against Is. Kansas City received 1872
900 bushels against 1876, 900 and ST. Louis 73, 900
against lat. 900. Minneapolis elevator stocks de-
creased by zoe, 900 bushels for three days. = 2
The cash market to noon was about 1 cent
under yesterday all around. The current figure
for new No. northern was SO cents.
Memberships.
Minneapolis chamber Of commerce member
ships were 1916 bid today. Two for sale
at %, 900 each.
The high price for Duluth memberships was
reached today, Mccarthy Bros & Co. having
paid Thos. Gibson 81, 300 for one.
] Sale of one NJ Minneapolis membership, was
made by w. A. Gregory to John Mcleod for
$4,000. -.--.
Primary receipts. COZ, 900 bu, against $50, 900.
weeks so~ern1nent report says: Spring wheat
harvest Is finished except In the northern por-
lions Of Minnesota and South Dakota and In
North Dakota, where, altho advanced 1t has
been delayed by rains and the grain is over.
ripe. Stacking and threshing in the southern
portion of the spring wheat region have alsc
been hindered by rains. Good yields gen.
orally reported.
Bradstreers report shows: Wheat east of the
Rockies decreased 100000 bu; Europe increase
i $780, 900; corn increase, 453, 900 bu; oats in
crease, 1,246,OOO bus -'.-s
Broomhalls weekly foreign crop summary
United Kingdonl-Latest reports as to yield and
raity somewhat less favorable France-Ind
cations unchanged Germany-some complaints
heard regarding yield Consumers beginning t.
purchase against increase duty to be put or
next March. Russia-There further com
plants heard regarding situation in southwest
Threshirgs disappointing in some parts, but II
other parts including Crimea and Azof dis
tricts. threshing results very satisfactory
ACKNOWLEDGEMENTS heard regarding to quail
lily of wheat crop. Corn crop estimated to be
- sufficient to supply home needs Hungary
Quality crops is inferior to that of last year
An important portion corn crop destroyed
Inda-Some rain fallen in United Provinces
but drought in Punjaub still unreieved Aus
tralia-situation very favorable with fair in
crease in acreage ah-as ID. !e,-
The Northwest Grain Dealers association es
Inmates the Canadian northwest wheat crop a
9O,OOO,OOO bu, mostly No. l and No. 2.