The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-12
Condition Of 81 Higher Than Elk
pected in View Of the Re
cent Wet Weather. :
September Sells EARLY at 921ac
and Then Goes Down Stead
lily to 90ssc.
Jones Finds Crop Improvement in
Some Places and None in
Others.

Minneapolis Chamber of Commerce, July 12.-
The heaviest pressure for weeks was on wheat
this morning. and September was down 10
91M @91&c by 10 O'Clock. The government
report was bearish Local traders who had
watched the northwest weather over the long
continued rainy period when the plant mace
little progress. and had read the reports from
the fields just prior to July l, expected that
the decline in condition would be greater than
81 points. Few expected spring wheat TO
show above 90 Chicago very bearish and
nearly everything that from there in the
way of opinion was against the price
The forecast was unfavorable for the north.
Thursday for Minnesota. Otherwise weather con.
ditions were not bad and the indications rather
favorable on the WHOLE The spring wheat at
81 against e3.7 last month is stated In the
report to indicate about 27S, 100000 bu, while
the winter wheat at s2.7 against S5.5 stands
for about 41s9s2 600, total of 692 652 900 bu
of Chicago takes 1914 bu for average and fig
ures out 4o5, 100000 bu winter and 65,ooo,ooo
Blu spring, a total Of 67000O000 bu. James s.,
Bell and John Washburn were In Chicago yes
terday and inclined to take favorable
view OF the northwest situation. admitting the
bsckwardness Of the plant and losses from ex-
weather the northwest might raise big crop.
Chicago took this as little bearish. The
big bearish influence was the southwest move,
1900, and st. Louis $4,000 against 10000.
Chicago got % cars against l.. The northwest
fell OF very materially, only 100 cars coming
against %. Winnipeg received 90 against "a.
Minneapolis elevator stocks decreased for four
days BY $4,000 bu.
II. v, Jones returned from Canada this morn
ing. Referring to the government report show
ing 900. 900. 600 to 425, 900 bu for winter
wheat, according to basis used representing
percentages, he said: ~ feel confident of the
estimate we made last week Of 365 900 900 blu.
We placed California at %. 900, 900 bu, not TAX
ing rust damage into account, but dispatches
from San Francisco yesterday say the crop will
run under ID, 600, 900 bu because of rust dam
age. We gain 10000 bu there which skep-
teal ones can add to Kansas figures. giving
that state 10000, 900 bu without making it ne
cessary to increase 565, 900, 600 bu. We were
also little high on Texas and Oklahoma. Two
years ago the government took off their figures
go, oO0, 900 bu from harvest to December. Last
year they did about the same. and next De-
cember we expect the dressings will justify
reduction in their figures again. The spring
wheat crop will reach its critical period in
about two weeks. Some OF the is i'm
proving under the favorable July weather. while
other sections are holding back, and still other
sections seem to be hurt too much to rally.
The northwest crop will be spotted and later
than usual. We think the figures we issued
last week at 175,ooO.0oO bu fairly represented
July condition" - = -" II
The market continued on decline until 9ossc
had been reached for September. The close
was weak at 9oBc for September and s71ac
for December.