The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-07-05


Minneapolis Chamber of Commerce, July g.
Everything favorable to the wheat crop of the
: northwest appeared in the this morning
: The weather was good and more Of it appeared
in the forecast The winter wheat fields Of the
: southwest also had clean dry weather for the
! harvest, and favorable prediction for tomorrow.
T; September wheat, having closed here at SOS
: on Tuesday, was off to 79Ac. The market hest
tated. No heavy buying selling appeared
The crop situation is SO favorable that further
! Improvement can scarcely be expected, and some
! traders are figuring this Since things can
not get better, they say, they will necessarily
! get worse some day. Wheat under sOc looks at
tractive to many. Hence there is always some
support to be expected when the market Says
+ but there Is also considerable selling, and the
bulls are finding it hard to keep up the market
AT present it Is not question of bulling 1t, but
of preventing decline. There are some big long
lines held in the hands of strong people, hence
there is no likelihood that they will be thrown
( overheard long as the holders believe in
higher prices ultimately. But while present
conditions last, and Until something favorable
Is found In the crops or foreigners buy the wheat
or flour business picks up the bulls will have
to- carry their load against increasing bearish
sentiment. lack of outside speculative interest
and conditions generally against them This
makes the market very uncertain
me local decrease for five days Is only
100, 600 bu. Receipts here 1.-TWO days) 2O3 cars
against 1872 last year. Duluth so against 12.
Chicago IL against 40, Winnipeg 121 against 14e.
St. Louis received 45, 900 gu against 105 900 and
Aansas Cltv LIQUID against $4,000.
The Price Current says: winter wheat
harvest under yay. Some threshing. Yield and
quality equa'ing expectations Liberal early
marketing unlikely. Corn making good progress
with warmer weather Oats improved where
not past help
OF the local -four trade situation, in which
interest Is increasing the Northwestern Miller
says! minneapolis millers as a rule found
trade for the week monotonously dull. They did
not sell AS much flour az they turned out and
the orders on the books were still further whit
tled down. The point is fast being approa ched
II 1t has not already been reached where tho
mills Will be dependent upon new businesses CIR
fentiy received to keep in operation Such
condition is very exceptional. 1t, of course
tenos TO induce mills to cut prices and good
ueal OF complaint Is heard Of -four being sold
peio" cost. But, seemingly, miers would NOT
pursue such a suicidal policy. The trade shows
every evidence of having the smallest nossih1s
supplies of flour on hand and If millers would
only mold up their prices a change NAV como
any day that Will give them a good husinao,
at reasonable margin. Buyers are bearish In
.helf IDEAS and are taking -four only in small toto
Tor quick shipment. Nc one is doing any exnort
business except 1t may be to work a litt)e arst
clear occasionally NAo'
Cash demand was fair at o0o1xo o
Tor No. northern VIVA u''
Liverpool closed IA lower
culinary urinary receipts SIT 900 bu against s4a ooo
Slesrances, $4,000 5u, including 10 600 hr,s
me forecast in full: Illinois, INDIANA ,t,s-
Suusf-fair tonight and Friday. Lower Michigan
W !sconsan, Upper Michtgan-Fair tonight 7and1
49, Ne. iowa Montana Fair tonight and Fri
oay' Mlnneseta, North and South Dakota ri
and warmer tonight and Friday. Nehrasta ~ az
sas-Fair tonight and Friday: warn,ar 49, na az
night. @r2 :. ""'nei west TO-