The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-01
September Sells at 9e14c, but
Closes the Day on Decline
TO 9Asase.
Enormous Liquidation Of Long
Wheat Before the Three-day
Holiday.
s;Jones Comes In from the Fields
: : q. and Reports the Crops Very
Late.

g Minneapolis Chamber of Commerce, July l.
The month came in with wheat stronger than
ever and September up 9614c shortly after the
opening. The market then turned and near the
close was depressed on selling that was very
heavy. Most of this was proft-taking, The
trade had stood fairly hopeful against all, the
sbad weather on the. probability of a good
July, but the forecast this morning was again
"a very uncertain one. For Minnesota, Iowa and
saand for South Dakota and. Nebraska showers
sltenight and Sunday. Illinois. Indiana missouri
Michigan and Wisconsin have cloudness in pros,
speet, while for Kansas showers tonight and
Sunday are. expected. Some rain fell last night,
but. rs the weather here and all up thru the
@FRed River valley was bright and clear this
smornng, hope again revived. The forecast killed
salt again. The market was extremely nervous
and uncertain. Near the close a majority OF
long holders seemed incli:s.d to the view that
the worst of the bad weather Is over, and as
there will be no session until Wednesday next
many let 60. Even some of the best bulls
sold out believing that with good weather they
can get in again lower down on "Wednesday.
@E~ H. V. Jones came in from the fields and re-
ported conditions backward and wheat very late
He makes no estimate, but says that the way
things. look the northwest does not promise over
& $50 900. 600 bu even with good, July. -
The market had to stand against a flood of
selling at the close, and in view of the heavy
lduidation, the decline was not more than was
TO have been expected September closed at
s 94ssc. a. Il
Broomhall cabled that the increasing serious
ness Of the Black Sea situation and reports
that wheat in France had lodged strengthened
the Liverpool market. Cables were up Y 80.
Primary receipts. 3ST 900 bu, with no COM
parisoh account of holiday year ago.
Il C1earancesi $4,000 bu. Local elevator stocks
y decreased for the week by 42s.9o4 bu, leaving
6024.147 bu In store. For one day to figure
tinto: next week the decrease is $4,000 bu. Re-
Ceipts here were light, 1919 cars against 235,
while Duluth got IS and Chicago with no
comparisons for last. year. Kansas City had
St56,O0O bu and st. Louis los, goo
The Commercial West says: This is the period
of crop-making and crop making develops the
period Of price making There is difference Of
e about 50OoO0O0 bu. in the estimate of winter
~ wheat production and take the conservative
E Z side. Finrai estimate of winter wheat will be
made. The spring wheat will soon be under in
Il yestigation The present situation Is not wholly
favorable; there has been too much rain and moi
plant be healthy except as warm, dry
. July follows. Hot Weather will only add to the
injury; the plant is too soft to withstand high
temperatures. The crop is late, from ten days
to two weeks. The northwest would enjoy full
- crop of wheat this season, that result .wou
II htp restore many conditions to a healthy basis
u But, it is by no means. certain as yet that
full crop will be realized; indeed the chance
are against It,. 1t is one of the first principles i
..,wheat raising that the weather must be normal
the northwest has had only abnormal weather
since. the spring opened. = ;ge ,s@..,ss .s
- Liverpool -Brcomhall., estimates that thu
- worlds wheat exports for Monday next Will b
! about 0400, 900 bu of wheat Of which Quantit!
/ Europe will take about $4,000 bu. Arrivals o
/ Is breadstuffs into the s United Kingdom abou
/ "a, 200, 900 bu for. tht past weke. .-.-, *.
Near the close Pringle wired from Chicago
Should Jones' primary figures of 10000 ,00
bu prove; true the spring wheat crop for tn
three states it would easily mean, dollar whea
again for the CROP -