The Minneapolis journal., 1906-06-11
Spring Wheat SO Against 93.7 a
Year Ago and the Acre
age Larger.
Winter Wheat 83 Compared with
85.5 q Year Ago-Traders
Nervous.
Conflicting Crop Reports Coming
from the Winter Wheat
States.

Minneapolis Chamber of Commerce, June IL
The that the government report. due June
10 in regular schedule but necessarily late this
time because the date fell ON Sunday, would
appear today at o'clock. Minneapolis time, put
nervousness into wheat market already nervous
and uncertain The pit traders had to think
carefully about commitment Last week 1t was
said that the department would be unable to
issue the report at noon. the regular time which
always brings the figures here about, IL am
and gives traders two hours and fifteen minutes
Of a market in which to trade 1t out. 1t was
reported the bulletin would be issued at pm.
THIS was thought by many to mean 2 p. m. here.
which would have taken it out Of the day and
put Its market effect over until Tuesday, with
chance for expert analysis and ample oppor-
tunity for the trade to digest 1t over night. But
when the word came that the figures would ap-
pear promptly at pm. Washington time, or
I Pm. here. the market being open until 1:1o
Il was seen that in the event Of decided
leaning way the other. or of any mis-
Interpretation Of the meaning Of the figures.
there might be active changing about and some
confusion in the remaining fifteen minutes OF
the market and on the curb. Consequently
those of the pit crowd who like uncertainty
and fear not the possibility of whipsaw In
an erratic and excited market stood by for tle
fun, but many others were cautious and eveneS
up. The early market was lively IN narrow
range with so much buying to cover offsetting
the selling to realize profits that considerable
OF the open business was closed up and the
chances for Danicky fifteen minutes at the
close were unlimited. Most Of the traders then
provided themselves with figures showing the
situa tion year ago. the better to make quick
comparisons when today's figures should appear.
The June situation year ago was: Winter
wheat acreage june i, 1906, 29,9s4. .Oo0 condi-
ton, S5.5; indicated yield, 4S6 OLA 600 bu Spring
wheat acreage June l, 1905, 17,812OOO; eondl.
ton, ss.7; indicated yield ~ sSo 600 bu total
acreage June i. 1905, Al, ,296, 900; indicated
yield, 718S34 900. The conditions at harvest
were S2.7 for winter and s7.3 for spring, and
the final crop 692979 900 bu all told.
year ago the June crop outlook for oats was
a1D hr final turned
out s5S, 900, 900 bu. The acreage year ago was
2s, ,o47 900 and the June condition e29.
While the trade was waiting for the report
some wild bull rumors went around. BroomhaL.
the Liverpool authority made responsible
for the rumor that Russia would cease export
ing wheat This was killed later by other re-
ports. The southwest sent In news In abundance
and in confusion. Too many items came, and
they were too conflicting to make possible any
Ineligible summary. Nebraska complained OF
drought, and some men arriving at southwestern
markets from runs Sunday thru Nebraska,
Kansas and Missouri, said losses were extensive,
drought severe, rain urgently needed and much
irreparabe damage already done At the same
time Oklahoma complained Of rain. said 1t was
not needed, was doing harm, and suggested
wet harvest for the southwest.
The visible decreased / O27 900 bu, leaving
total Of 20, 7s3, 900. The weather In the north
west was good, and good weather Is pre-
dioted
Local stocks decreased 100000 bu for two
days. Minneapolis received 27o cars against
IL; Chicago and 3; Winnipeg, Al and "A;
St. Louis 10000 bu and 10000, and Kansas
City, A, 600 and %, 900.
Primary receipts. 421 900 bu against 39s,0OO.
Clearances 1S1, 600.
The report came along little late and put
the market into uncertainty. The percentage
figure sare bearish in view of what was eX-
pected. Spring wheat is 93 against 93.7 a year
ago, and winter wheat SO against S5.5 last
year. There Is more spring wheat. The acre
age of spring wheat indicates an area OF
about II, ,9S9, 900 acres, increase Of 3S. 600
acres or OF per cent, as compared with the
estimate CT the acreage sown last year. The
average condition of spring wheat on June
was 93 as compared with 937 at the correspond
ing date last year, 93 June l. 1904, and O
ten-year average of 94. The average condition
of winter wheat June l was 63 as compared
with 81 on May /. 1906, SO on June 1, 1905, ls
on June /, 1904 and ten-year average or Sl.
The total reported. area in oats Is about y, ,67S,
0oO acres, a decrease of S6S,OO0 acres, or 1.3
per cent as compared with the estimated area
sown last year. The average condition of oats
on June / was Sc against 98 on June l, 1905,
50 at the corresponding date in 1904. and a
ten-year average OF 91. The acreage reported
as under barley is more than that estimated as
sown last year by about 1873, 900 acres, or 2.7
per cent. The average condition of barley Is
93S against 81 on June /, 1905, 30 on June 1,
1904 and q ten-year average Of 80. The aver.
age condition Of rye is 90 against 81 on June
l. 1908, Sc on June 1, 1904 and 30 the mean
OF the corresponding averages of the last ten
years.