The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-10
Conditions of SCI for Winter
Wheat Puts All the Bears
to Rout.
Patten on Change, but Noncom-
mittal-Big Traders Change
Over.
Stocks Still Increase-Cash De
mand Continues Very
Good.

Minneapolis Chamber of Commerce, April TO-
Wheat was in most uncertain position after the
opening this morning and the shrewdest specu-
later might have found it a hard guess as to
the price turn to come. Patten. the big Chi
cagO trader, came in on change and was actively
engaged about the floor, giving attention prn-
cipally to the opinions of the cash grain men.
His commitments, supposedly, are Oh the long
side in corn and oats, and in wheat his position
is uncertain. 1t was felt that with the market
in its present. dull state, and facing the uncer-
tainty of the government report to come out
in a few hours, that any hunch Patten might
get from the local traders. if strong enough to
influence him to action, might move the markets
either way very readily. With this, two of
the big locakAouses were apparently operating
in the market 1T cross purposes. Watson APP
peared to be Esying in Minneapolis and selling
in Chicago, End Woodwork was selling here
and buying in Chicago. Patten stood noncom-
initial as to his feeling on the market and said
to tt e Journal that he was no bear, but
side. Coarse grains are holding his interest at
present, rather than wheat. The news from
the northwest was favorable. The rains caused
temporary delay to farm work in some localities,
but nothing serious, and seeding was resumed
this morning very generally. The local cash
market frmed up. and 1A@1Rc over May was
paid for No. 1 northern.
The government report was a great surprise
to the trade, showing the condition S9.1 for the
growing winter wheat. Ninety was about the
lowest expectation end many had looked for a
condition as high al 90 or 90. The market re-
sponded with alacrity, Minneapolis May jumping
up from 75kc to 76fc and Chicago advancing
from 77Ac to 7S1ac.
Rradstreets' figures on the worlds visible
showed a decrease of 4SO.O 600 bu compared With
n deli esse of 2, 564, OOO d year ago.
Local elevator stocks still continue increas-
ing and 80, 900 is the gain for three days. Re-
ceipts here were 1877 cars against SO: in Duluth
81 against 10, and in Chicago 10 against :}2.
Winnipeg received 337 cars against 11S.
King of Toledo wired that the Michigan Alli]
wheat condition is only 10 against 81 N De
cenber. Last April it vas 95 and in June 81,
say the crop suffered dunDg March. 1t is saiG
1t did not get protecting snow fr more thar
one and one-third weeks. Wheat in farmers
hands is 5000, 900 bu against $50, 600 a year ago
Rye conditions. 50 against % a year ago.
ter Last Mnd Dsee nepssr the af g%Sxs, 'SoSs ag mhas tR Rs.1 YIN
cember last was GIL, promising sol 900. 900 bu
t aaking II for par; Last April the condition was
turns showed 42s. oOo, 900 hu. Today the re
port n makes e. it So suggestinF 49, ooo; 900 bu
The report is pullish in that it SHOWS . a co ssi
ton considerably lower than expected. On thu
a' year "a ago' a N I tbe cend # i above 't the i've ena o.
ten-year averages. Some acreage was probabl,
abandoned since Decempsl ;ast: but that il
q matter reported upon officially in May.
Urinary receipts, 3ej,UOU Blu. against 1877 900
Cleartrces. 1870 y BIZ. .
Broomhall's foreign crop conditions as fol
lows: United Kingdon-Thc weather IL. yer.
seasonable ard the crops are in fair condi
ticn. france-The crops are in fair coudition
Supplies of good wheat are scarce. Germany
The weather has improved. but there are som
features regarding the winter crops. altho so ia
no definite complaints have been heard
. Hungary unania-There has been severe wealth
or, which has been unTavorable for the crops
Kussis-The weather continues very favorabl
for the winter crops and spring sowing; sup
plies are increasing moderately. India-Our cor
respondent at Delhi writes that the crop wi
break all records. taly-Complaints regardin
the crops are increasing. Spain-North Africa
The situation is generally favorable. r-