The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-20
liverpool Opens Weak and Lower
and Starts Selling on
Our Side.
Jones Issues a General Summary
Covering the Southwest
Outlook.
Elevator Stocks Will Decrease
About 100000 Bushels for
the Week. :.

Minneapolis Chamber of Commerce. April 90
The closing last night of one -four mill and part
of another by one Of the large companies, and
the report that other mills will close tonight,
nut another burden upon wheat. Liverpool had
followed our weakness Of yesterday. with dip
of g @Ad, and was u @ad lower. at the close.
Antwerp Berlin and Budapest were all lower,
and this foreign weakness, together with the
less favorable local milling situation, was too
much for the price. BroomhaI said the weak
ness In Liverpool not alone in line with
our decline, but due in part to larger Argentine
shipments than expected and the prediction of
free movement from Argentine during May.
For the week the Argentine shipments were
5.12o,oo0 bu against 2,24s,ooo week ago and
2a22 600 a year ago. AS to the m1llers, their
action was only in line with what they had
been saying would follow. With May wheat
above 7sc and No 1 northern 3@Shc over May,
land -four prices around the present level, 1t was
mot easy to increase business, and more recently
bit was hard to hold it up. Either -four prices
had to be put up, they said against buyers I'M
willing to pay advance, or cash wheat had
to, Lose some Of Its premium or futures had to
fall, the mills would close. The premium
flor No. i northern was &c over this morning, but
May was down to 1914 @T6%c and was inclined
to go lower. Chicago, against s2Ac at high
time yesterday, was off to 1880. The Chicago
mani ulators had the good judgment not to push
the thing too far and unsett1e the markets COM
meroially. Apparently 1t was their plan to make
"a hard market to sell on. and they succeeded.
/ Local elevator stocks promise decrease Of
600, 900 bu for the week. Receipts here were
ilae cars, at Duluth -, at Chicago 8, and at
iwinnipeg 1874 against SO. Kansas City received
rs 600 blu and St. Louis $4,000. There a
ihoiday q year ago in the American markets.
Watson issued the following statement on win
fter wheat: ''Mr. Jones returned from the south
west today and, after an inspection of two weeks
Fin Dexas, Oklahoma, Kansas and Nebraska, be
ssaYs the April condition is the most perfect
for the whole territory in his experience. Texas
sand Oklahoma on the basis of twice the yield
of last year. Kansas Is higher basis than
last year, around 100000. Nebraska condi-
Etions good, not SO far advanced as Kansas
sMillers in Texas say harvest will begin, May
Inglis reports from the Ohio valley, Michigan,
Pennsylvania and Kentucky high general aver
age OF wheat condition, better than last year.
If the winter crop natures on the present basis,
rthe yield of winter wheat will break all records.
The state reports Of the condition for April
are to Is points over the April government
figures"
Primary receipts. $4,000 bu. Clearances,
81 900 bu for the day, and for the week, 1,S44,
600 bu.
The following is the weather forecast: Kan
fair: Nebraska, fair, warmer west; Iowa, fair
warmer north central; Missouri. Illinois and In
DIANA generally fair; lower Michigan generally
fair, warmer tonight except extreme southeast
Wisconsin, fair, warmer north.
The Modern Miller says: 1.-The excellent prom
Use Of the winter wheat crop Is generally beine
maintained as weather conditions have beer
favorable. From Illinois, Indiana and Missour
complaints are being received that wheat on fla
and low lands Is patchy and of unhealthy
color due to too much moisture last month ant
early in April. The appearance of the crop IL
general in the Mississippi, Missouri and Ohio
valleys is good.''