The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-06-22
Wheat a little wobbly in the legs today.

Minneapolis Chamber of Commerce, June 22.-
More rain in Indiana and some complaint from
the winter wheat in the Ohio valley had effect
upon the market this morning, holding it firm
and steady. Liverpool was up A@#d, which
was another help. Some of the bulls thought
September looked good under SIC and bought it.
Later on bear news began to come. Coarse
grains began to waver in price and Minneapolis
firms We're sellers q oats IN Chicago good
news received here from Iowa, where crops
said to be looking we'll. Messages from Kansas
said that while there had been rains in places
it was too early to talk of serious interference
with harvesting, and that they really were of
much benefit The call for laborers for the
southwest harvest fields was again heard. Spring
field, Ill, wired that the rust damage stories
from Illinois yesterday were absurd, and that
central Illinois Is cutting the best wheat crop
In years. Nicollet, Of Kansas City, wired that
the poor threshing returns from isolated
places. AMI that Oklahoma has 3O,OO0,OO0 bu
and Kansas $4,000. ooo Locally the talk to
discussion Of the -four trade, aud it was rumored
another mill would close. All this bore hard
upon the wheat, yet the market stubborn
and slow to decline. Woodwork, Corse, and
Hallet were buyers. Daggett bought some July,
Charles q. Lewis returned from Kansas City
and Omaha. Sentiment southwest Is bullish on
coarse grains and favorable to wheat said MIR.
Lewis. ''The average opinion in Kansas City
credits the state with 65000000 bu wheat,
Nebraska with 2S, 100000 to 10000, 900 and Ok
iahoma with good crop. They say that the
southwest has raised more wheat than last year,
yet there is no such good promise as earlier in
the season. While the rains broke the drought
and saved the country there is no doubt that
while it lasted the dry weather was severe and
Gid much damage in some localities. Yet with
reference to bulling wheat there is some con-
servatism heard. All agree, however, that upon
any less favorable turn in spring wheat prices
would quickly advance for there is much quiet
waiting interest that would come in. AS to the
movement of new winter wheat that will be less
of bearish thing than a good many think They
say that the country -four mills in Kansas and
Nebraska have very little old wheat in stock
and that mllers are ready to buy the crop,
but of course they want to get it cheap. If the
farmers do not rush their wheat the market
and there seems no reason why they should
there will be good milling demand for it at
satisfactory prices Y ! ~ -. .-. Z. -s..
For the week the local decrease In elevator
stocks will be about 275,ooo bu. Minneapolis re-
eeipts today, 100 cars, compared with lat a year
ago. Other comparisons Duluth SO and
90 Chicago and 1, Winnipeg 7e and ST. St.
Louis 10000 bu and 1000, Kansas City 5000
and q 900. 80
Cash, demand was good at ia @2c over July
for No. northern and A@hc over for No 2
Primary receipts 1000 blu against 232 OOO
Clearances 100000 bu.
A Kansas City firm offered 125, 900 blu new
Kansas wheat to Minneapolis milleys. There
were no purchases made. g E-s.sE
Argentine shipments 2,3s4 900 bu agains,
1885, 600 last week and 2, 1876, 900 a year ago
The Modern Miller says 1.-THE winter wheat
harvest is progressing with little interruption
from unfavorable weather. Where threshing /.
completed or going on the yield Is generally sat
isfactory, and Is in many instances above expec
tations The fine character Of the wheat il
especially commented upon, the test weight be
ing heavy and the milling quality equal to las
years Crop conditions in that locality are re
garded unsatisfactory" 49, D..
The Royal statistical bureau returns the condi
lions of the Prussian crops as follows: June Ii
1906, wheat 81, rye IS, oats "a, potatoes IS
May Is, 1908. wheat 50. rye 7e, barley 80 oat
IS, barley rs. oats IS, potatoes IS; June TO- 1906
wheat so, rye IS, barleyz70, oats r., potatoe
The weather map showed scattered rains i
Canada light rains at Williston, n d. fair raj
at St. Paul. trace at Oklahoma generally cloud
in west and southwest temperatures rising
The forecast: Indica lions are for scattere
showers in this forecast district and cooIe
weather will overspread the entire trans-Missis
sippi region by Saturday night zs1<Y