The Minneapolis journal., 1906-08-08

( Minnes polls Chamber OF Commerce, Aug. b
t1Iore rat1 and prediction for still more OF 1t
ktonight and tomorrow, sent wheat up another
fnotch. In the James River valley, where the
Ework Of cutting the wheat is in progress. near
by five inches OF rainfall is recorded at some
Epoints Ia the past week. Naturally this Is bad
snews for the bears. Rains have fallen nearly
Everywhere. The situation Is uncertain, much
depending upon the weather. If the worst has
kbeen seen the heaviest rains have fallen and
EShe weather Is to turn clear again and remain
sclear, then it may be doubted whether the
ssnarkst will be very seriously affected. for there
shas been fair rally from recent low points
land the market ought to settle. II, however,
lthere is to be more rain, prices might easily
sadvance considerable. for a wet harvest Is the
Elittle early for wet-haryest scare. Ten days
sfrom rains would be worse than at pres
bent. The question Of the price, therefore, Is
largely q guess on the weather for the imme-
Fdiate future. For the long pull the price will
slepend much upon the spring wheat movement
land the extent to which receipts of spring
fwheat proper held down by a movement of
sdurum wheat and coarse grains. Some comment
lis heard In effect that when once the neT-crop
S&tuff begins to come in SO much grain Of other
sxinds will appear that in spring wheat the
,Eotals will be disappointing, but this is largely
:conjecture. Until the stuff actually begins to
eEnove no one can tell about it. The argument
IS also made that the farmers, finding prices
:aess attractive, will hold back their wheat.
This may, tndead, be the In locan-
ties, but trade experience is that the farmer
raises wheat to SELL not to store away, and
when 1t is ready.
The trade watched the weather reports very
closely. The early messages showed conditions
as follows: Fargo, part cloudy, temperature ,6s;
Winnipeg. clear, warm Breckenridge. cloudy,
cool Wimar cloudy, cool, raining; Valley
City, cloudy, calm; Morris, raining, cool; Boyd
cloudy, rained last night; New Ulm, cloudy
calm, temperature 64, rain; Redfeld, cloudy,
raining, 10; Watertown, cloudy, calm; Madison,
cloudy. calm; Huron, cloudy. calm; La Crosse.
cloudy, cool; Winona, cloudy, cool; Sioux Falls,
cloudy, 10, rain last night; Sioux City, heavy
rain last night; Dawson, heavy rain last night,
cloudy, 72; Grafton, Park River, Hoople, Edin-
last night. 6s; Red Wing, cloudy, raining, cool;
Mason City, one inch rain last night cloudy,
southeast wind. looks like more rain.
Advices an hour later brought fuller re-
port to Cummings from Redfeld, 8. D., read
ing: "Raining still; conservative opinion Is that
should this weather continue two days more
wheat will be greatly damaged. as it will all
be on the ground. Wind and rain has caused
quito lot of damage already, and prospects
are for continued rain today
Advices to L. N. Loomis from South Dakota
sa1e less favorable. Mr.. Loomis recently COW
sred 1000 miles in the wheat fields, and from
observation and later information received is
inclined to view the recent optimistic reports
as representing the best that Is to be heard OF
the spring wheat crop. and that unless the
weather turns mora favorable some later dis
appointment will follow.
New oats were received by McCord. They
graded No. 2 white and weighed 80 pounds
The shipment was from South Dakota. If the
first receipts are fairly representative Of the
new crop, there will be some fine oats on sale
tan Minneapolis this season.
s. First price for new wheat was also heart
iAt 115c over September for No. northern
sNo business was heard of, and the figure wat
nominal. It bid by miller, but woult
anean delivery here in twenty days, and 1t is
9tttle early yet for any twenty-day delivery
Business, especially in view of the uncertain
weather and liability to delay to the harvest
sOld No. / northern sold at 21ac over September
and old No. at 1@1Ac over.
Minneapolis elevator stocks decreased TOO, ,0Ot
hbu for four days.
Receipts here today were 1o5 cars agatns
144, at Chicago s2o against 14s, and at Dulutl
~ against 10. Kansas City received 1872 90
sbu against 100000, st. Louis so, 600 compares
with 10000. Winnipeg had 55 cars against 8
There is much interest in the macaroni whea
kproblern, and whether not there will b
eaale for the big crop. From Marseilles
large miller Of semolna sent the following t
kRollin E. Smith: 1.-The macaroni crop in Al
Egerfa and Tunis this year is plentiful and es
tceptionally fine Tunis and Algeria bein
4 Brench possessions, the wheat from those cour
1 fwheat comes to Marseilles, and this year
Us expected that they will export 5000, 900 br
4 African macaroni wheat is very hard and
kand the Russian wheat Of this variety are tn
best for semolina. Some contracts for Africa
wheat for August and December have bee
made at 221a francs per 100 kilos, less Z franc
duty This means about Sic per bu at MAJ
settles From Russia reports from the mac;
from wheat crop Or erather good and we thin
L there will be fair average crop. Russia
/ h1los dearer than African. American macaro,
# wheat will not bring prices equal to the Africa
and Russian products
Liverpool closed SD higher.
Primary receipts, 1926 900 bu against I ,1o4
900 bu. Clearances, 228, 900 bu.