The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-25
Posted Receipts of 295 Cars of
Wheat and May Down to
u $1.o99s; July $1.06ls. ~.
Later Correction to 1876 Cars and
a Scramble for Cover by
@l"
the Shorts.
More Wheat of Contract Grade
in Store Here Now Than a
Year Ago.

Minneapolis Chamber of Commerce,
March 5.-Somebody blundered today
and put the bulls in wheat to the bad N
the early part Of the session, for I29o
cars, against 1873 a year ago was tSle
posting for Minneapolis receipts: May
was down to $1.093s and July to $l.Oo IS.
Then the figures were changed to 19o
cars, and soon May was up to $l.llS
and July to $1.O7as. That there should
have been an error in the report was
4 considered particularly unfortunate at
this time for of all Influences affecting
the price of May wheat, nothing is
more important than the matter OF the
20 over all the things that are most
important as general influences upon
prices, and may run the line from
Argentine shipments to the growing
+ winter wheat crop in our country, and
back by way Of the reported bullish
Gates crowd in Chicago, and the good
weather for spring wheat seeding and
that can be found there is nothing so
vitally important as the situation right
here. If there is larger quantity OF
wheat back in the northwest than has
been figured upon, and if 250 to 300
car a day are to come in here from now
to May l, May wheat is going to fall to
81 or lower, barring something
,calamitous in winter wheat: If, on the
other hand, the country is cleaned up to
the extent that many believe, and re-
Gel pts here run down to 100 or 100 cars
day, it will mean quite different
situation. Hence the feeling that the
matter of receipts in the present
great uncertainty as to price, is too i'm
portant a thing not to be positively
known about before given out. The
local supply situation shows a wheat
total here of II ,424 ,S04 bushels, after
deducting the 43S,547 bushels taken out
during the week. At the same time the
contract stock is 1852 bushels larger,
there being now 4,4O6,92o bushels of No:
! northern and No. l hard, against
4,332, 238 at last report. The increase
of. contract grade goes on notwlth-
standing the shipments out are consid-
cradle, as for instance today the re-
ports show 70 cars wheat shipped and
there is a moderate but steady flour
movement, 42,OS9 barrels for last daily
total.
Primary receipts were $4,000 bushels,
against $4,000, and wheat and flour
clearances 10000 bushels. At Duluth
there were Is cars, against 80, and at
2Chicago II against. II. St; Louis had
sas City $4,000, against $4,000.
Australia shipped 984,000 bushels for
the week, compared with 100000.
Broomhall cabled-'' The continued
reduced Australian shipments induced
some local covering, resulting in open
" ing advances5of I'D in all months and
again of 1sds further in July and Sep
TENDER. Later an easier feeling pre-
vailed, due to the expectation Of large
world g shipments again this week
Corn opened unchanged to I'D higher
being affected by the strength il
America. World s shipments/this week
are estimated at 1O;00OO00 bushels A
moderate change is expected in the
quantity on passage.
The weather map shows very little
precipitation anywhere: Temperature
are still rising and conditions are idea
for farm work and growing crops. The
+ forecast follows: Dakotas, Kansas, Ne
braska, fair, cooler; Illinois, Indiana
, Missouri, Michigan. Iowa, Minnesota
showers tonight, fair and cooler Sun
day.
May wheat closed at $1.10B@1.11
July at $1.071s.