The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-08-30
Wheat Genes to Town.

$ Minneapolis Chamber of Commerce. Aug. So
Thirty -seven cars new spring wheat turned up
in Minneapolis and Chicago today and the bears
used 1t a club to pound the market. but
without much success In the early trading.
Eleven cars went to Chicago and Minneapolis
got 26. OF the local run l car graded No.
i hard, Is No. 1 northern. No. northern
2 No. and 1 rejected This was very
high grading and If it Is fairly representative
it means crop Of fine quality. So far there
fore. the new wheat Is concerned, there IS
nothing to encourage speculative buying In the
hope of a deficiency Of contract wheat to de-
liver, for there IS in all probability a good
proportion Of it. The movement on the whole
is light. only "a coming in here today
against 900 last year. and In consequence of this
much lighter comparative wheat Is being
drawn out Of terminals at a heavy rate, and
for five days of this week there is decrease
of 1,175.0O0 bu. On the showing of decreasing
local stocks and lighter receipts the market
ought to advance, but. on the other hand, the
weather having been unfavorable for time,
has now turned fine again. conditions are such
to facilitate threshing and the movement
of new wheat to market, and they promise to
hold. for the weather prediction Is for fair
weather tonight and Friday: Tomorrow will
test the September option. Good people are
long September wheat. Outside interest In
September is nothing. Those firms holding long
September could take delivery were they SO
disposed. There has been changing over and
some liquidation from day to day and the OPP
ton ie more closely evened up than few
days ago. Some think that delivery day Will
pass without much excitement and they be-
lieve that those who are long are prepared to
take any wheat rendered them and that the
shorts in September are evened up except FOR
those who are believers in big movement
later and are prepared to stand short thru tue
month Of September The bears do not see 1T
this way. especially the Chicago bears. Armour
is quoted saying that there Is much long
wheat to be liquidated and rs warning people to
be careful of the short side. and Rycroft wired
from Chicago this morning predicting heavy
September liquidation and a material decline be-
fore Saturday night
Receipts at other markets showed AZ cars
against As for Chicago Is and for Duluth,
Al and II for Winnipeg, while ST. Louis had
Ss. 600 bu and 100000 and Kansas City 172'ooo
bu and $1,000.
Liverpool closed ga lower.
Clearances were heavy, about e41,oo0 bu for
the day.
william C. Leistikow of Grafton. N. D., wired
Cummings: 'Threshing returns very disap-
pointing; where 20 bu was expected they are
getting II, and where they expected 10 the
yield is about 8 to 10 bu. The spring wheat
yield will run we'll under the lowest estimate
made. Flax is the only big crop
Poehler says: "Foreigners are still impressed
with the idea that the United States and Can
ada have a surplus large enough to prevent
any advance in prices In the future. !ney,
therefore, feel easy the situation and are
acting accordingly Talk of disappointment re.
garding probable yields Of North Dakota and
Canadian northwest during the last few days
has not caused any change IN their attitude
What amount of wheat Russia will ship In
the future is still uncertain Should shipments
be large, foreigners Will become still more In
dependent On the other hand, should Russian
shipments be disappointing in volume and the
northwestern and Canadian crops prove to DC
materially smaller than expected, DC advance
in, foreign markets would probably follow
Primary receipts 4550O0 bu against s73, 600.
Cash wheat brought 31a @D4c over for new No
/ and 20l21ac over for No. 2.
The Price Current SAYS: LESS inclination to
market winter wheat at present prices. Corn
continues in fine promise Large area Of winter
wheat indicated. Good pasturage saving hay
and oats"
Lewis had the following from his Hillsboro OF.
nee at l pm: ''Dalrymple threshed 200 acres
and got about Ave bushels to the acre This is
bis poorest but the rest won't run better thar
seven Mr. Robineau. one Of friends. is
threshing. He threshed all yesterday afternoon
and got 30 bu He just told me he was sorry
he cut it. Preston starts today. His will be
better"