The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-15
Wheat 7lghteus Lzbn Bit to C20se The Week
September Sells to $3.50 but
Eases Off Again Chicago
-.
Still Very Bearish.
Big Run of New Winter Wheat
Expected in Kansas City
Monday.
The Weather Outlook Not Quite
So Assuring with Possible
Sunday Rain.

Minneapolis Chamber of Commerce, July 10
Wheat acted little better today coming up
out of the dumps and gaining cent. Unsettled
weather conditions and fear Of something bad
over Sunday scared in good many shorts AS
the market had been decline all week 1t was
natural there should be recovery on Sat
urday anyway and the less assuring weather
helped along the turn. Many here now think
that the big break sounded bottom, at least
for the present. but Chicago does not think so /
and Is about bearish as ever. A few mar !
ket leaders in Chicago could see little good |
In wheat but majority sent out bearish Cos
sip, predicting still lower prices on Monday,
when Kansas City will show up big run of |
new wheat, in all probability Trading had
scarcely begun, however, before Winnipeg wired ,
down that there drizzling rain on, and
that heavy rain fell last night. The weather |
map showed it raining at Williston, with rains |
at Bismarck, Moorhead and in Manitoba gen. |
orally clear in the southwest and west; tenn |
peratlres in North Dakota, 6S to 10; South Da-
kota, 72 to 76; Minnesota, y. A high baro- |
meter over the west and southwest. The fore !
cast read as follows: Illinois, Indiana, Mica !
igan, Wisconsin,, showers, warmer; Minnesota, !
North Dakota, Iowa, showers cooler South
Dakota, Missouri, Nebraska, Kansas, fair There
was little in this to sell wheat on, after the
long decline. Still number of sellers We're
noted at the close, apparently pit short sellers,
who probably figured that even with turn to
bad weather the expected big receipts of Win
ter wheat on Monday will prove too much for
the price
A special cable from London to DOW-JOneS
says 1T is predicted in circles that have
taken especial pains to investigate the matter, !
that the yield of the Russian crops this year
will be largely DEFICIENT
The Commercial West says: 1.-The principal
crop developments of the week aye along the
line of disappointing threshing returns in Ohio
and Of the districts along the Ohio river,
together with the admitted failure of the Cali
fornia crop, due to black rust.
1.-The government report has been issued dur
ing the week and it indicates 400, 900, 900 to
425, 900, 900 for the winter wheat production,
according to the basis of par that is used in
representing its percentages. This difference
is about 40 900, 900 to so, 900, 900 our idea
of the winter wheat production, as suggested
in these columns week ago For three years
the government has been about that much i'll
excess of our figures at this time of the year
and has reduced its heavily in December
after threshings have been reported. The gov
eminent percentages for spring wheat are much
higher than we were willing to place them July
list to July LIST, and think there was an
actual improvement during that time, had the
June percentages been on the right basis We
have desire, however, to dispute with the
government this point; simply call at
tention to the matter in order that those who
prefer to follow our opinion may understand
what the difference is.
1.-The northwest crop is in the between
stage, when there is but little of Importance to
report. The crop the whole is showing i'm
provement this month, due to favorable
weather. For about ten days there has been
and warmth and the crop is making nice
progress. Some Of the weak places have been
strengthened greatly, while other sections seem
to have been hurt beyond repair.
1--WE have yet found black rust and we
+ believe that 1t will be week or ten days
before wheat reaches the stage when black rust
would be possible. The fact that much of the
winter wheat area was attacked by black rust
too late to do much injury warrants the hope
that similar result may be realized in the
northwest. If the rust will stay off until the
wheat gets into the early dough there need be
no fear OF the crop result; it will be good
crease than nj is generally understood. Northern
Minnesota and the Red River valley have sown
heavily to flax, partly from necessity. The wet
spring prevented seasonable work in wheat and
when it became too late for wheat the land
was put into fax and the crop is promising.
after somewhat hasty investigation during
the last week we incline to the opinion that the
macaroni acreage this year has been over
estimated. A great many farmers declined ito
seed it this year, after having experience with
it for three years past. The increase in acre
age is farms where the experiment has not
been made. In the districts where there has
been too much rainfall and spring wheat has
been set back in consequence, the same effect
is noted in macaroni, which indicates that 1t is
susceptible to rain damage the same as spring
wheat.
.The northwest crop is late, but the warn,
weather is bringing it fast and a little
wheat may be cut In the southern counties the
last week in the month, but this is by nc
means certain
present time Some Of the western districts
are thin and will show light YIELD but on the
whole Canada has good prospect. The dam
age from rain has been largely in the Rec
River valley of Manitoba and on the La
Portage plains.-H. V. j." -,
Primary receipts 637 900 bu agains
27S 900 year ago, and shipments 3,OO(
against 113 900. st. Louis got 10000 against
$4,000, and Kansas City again doomed UP will
858, 900 against 000 Minneapolis got SO cars
compared with 166, Duluth 10 against 81, ant
Fl Chicago SO compared with g. At Winnipeg
there were 103 against 81. Minneapolis
elevator stocks decreased for the week by $50, 32
blu, leaving 5,121,795 now in store here.
Toledo says the largest winter wheat mill II
the world has only bought so far two cars o.
wheat on this crop. They should have had twt
or three hundred on the road. The rail-
has set it back. ... 49, .
The following came from Lima, county
4. of Allen county, Ohio: "Allen county had four
teen rainy days in July and the last four days
of June also contributed a downDour, the re
suit to farmers on losses to crops has beef
severe and hay prices will beyond an!
price known in years. The oats have been al
most entirely wiped OUT t.,. ...-.. ...... ..,'
A. D. Thompson Of Duluth wired to Kenke1
s.Thornton wires from Granville that persona
investigation assured him that correspondent
have been fair in their representations Of con
ditons. The present stand of wheat as re
CARDS stooling, color and generally healthy con
dition, barring few bad spots, is all that coul!
As be desired. Continued favorable weather will
assure larger northwestern crop thai
estimate of 225, 600, 900 bu.'
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