The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-12
With Business Light but an I'm
dertone of Quiet Strength
All Thru.
The Government Report General
ly Taken as Bearish by
the Trade.
The Weather Favorable and Win
ter Wheat Coming Along
Well.

Minneapolis Chamber of Commerce, June 12.-
Wheat had to stand the pressure of multitude
of selling orders that came in early this morn
Ing from trades who put bearish construction
upon the government report, and prices sagged,
September selling at S51sc. Then the market
turned and September was S61sc directly. One
crowd OF traders took the report bearish,
for there may easily be figured out from 1t an
enormous yield of wheat. But others saw 1t as
q standoff for the condition of 1915 shows
points loss In the past month"; 02.5 being the
condition May L. The winter wheat condition
year ago June 1 was only III. The spring
wheat figure for June j Is 92.9 compared with
93.4 June 1 last year. Taking H. bu for
par, 20, 1913, 900 acres winter wheat and ,163,-
900 acres spring wheat, there Is a showing of
444 100000 bu for winter and 2S1, 100000 bu
for spring, a grand total Of 731, 100000 Blu. The
Record Herald makes 1t 712. 900, another Chi
cago authority has it 725, 0O0,0 600, and Wall
street nothing less than 727, 600 bu and
even more. OF course 1t is an arbitrary thing
to--take 17.5 bu per acre for par. Also 1t Is
long way from the spring wheat harvest
and there many who think the government
figures high anyway and that no such total as
700, 100000 bu need be expected. But how
ever that may be, the fact is that the general
idea in the country now is that the wheat crop
this year Is to be something phenomenal. Last
year on June l there was the promise much
the same basis Of figuring of 657 100000 bu
wheat, but the country actually raised about
553, 100000 bu The detailed report of condi-
ton in the government report shows losses since
May Of II points In Kansas, Ia In Oklahoma
IS in Texas in Missouri, ~ in California and
in Illinois. The condition of rs for Kansas
IS taken to indicate so. OOO,O 900 bu. Kansas is
most irregular state and uncertain consider
alton. Last year the state raised 81 900, 900
bu, or 100000 less than now promised. The
year before it produced SO. DOC. 900 bu but the
year previous to that only $4,000, 900 bu.
Next to the government report the interesting
/ feature the weather. The northwest ap-
pears to be getting in line for bitter things,
and the forecast is for generally fair weather
tonight and Tuesday, but there is lack on
the whole Of good growing weather. The south
west Is lined up beautifully, but the conditions
from will tell the story. If good
weather comes there will be much pressure from
! selling In southwestern markets. but rain or
z the suspicion of a wet harvest would mean quite
a different feeling. The movement today was
not especially heavy, altho Minneapolis and
3 Kansas City ran over last year. with 297 cars
against 26S and 600 bu against $4,000 re-
spectively Duluth got ~ cars against 81,
Chicago against 25 and st. Louis $4,000 bu
against 10000. Winnipeg had only A cars
against ia Minneapolis elevator stocks de
creased by only $4,000 bu for two days. .
! Primary eceipts. $4,000 bu against 421 900
Clearances. $4,000 bu. The market suffered &
slight decline near the close. and closed al
S5Ac for September and LOS for July.