The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-24
They Lift the Market Out Of the
Dumps Despite More
Rains.
Southwest Harvest Will Soon Ed
On-Local Stocks Fall Off ..1
. Again.
Rains in North Dakota and Else
where in Spring Wheat
Country.

Minneapolis Chamber Of Commerce, May -.
Tine shorts were a little nervous this morning
and inclined to run In quickly when prices
frightened, and wheat was frmer as trading pro, /
crossed. The supply situation IN chicago ana
the doings in Chicago May again held attentloh'
Receipts are very light at important markets.
Legitmately there is strength in the Market
insofar old crop stuff is concerned 1or &C.
spite complaints Of light -four demand shipments
are holding up fairly we'll. Cash wheat SOLO
again at 1hc over July for No. northern. and
some at Inc over. No. going at July price.
There is nothing in the @ s TO n
crease, both of which may come, but neither
Of which appears at the present time AS to the
new crop. the outlook Is again bearish; follo"
ing up the rain reports Of yesterday came
others this morning likewise very encouraging
for the crops and embracing some points not
reporting heretofore. Parsons, Kan, had the
first rain in three weeks, and Pittshurg, Kan.
said the fall the heaviest this. year and
the only one of consequence this spring. Pea
body. where the drought was serious had IL
inches and Hutchinson l inch. Burns had
inches and Salina got another a inch, addi-
tonal to that already noted. Abilene said rain
had fallen in all parts of Dickinson county, ana
Eldorado said Butler county was covered, Whhe
Clay Center reported a soaking fall. THESE
were very encouraging items, for some were
from localities where the situation was serious.
Battlesville, I. T.. had the third rain IN TWO
days.
The Price Current summary. issued before the
heavy rain, says recently prevailing dry weather
in large portion of the central and western
regions, oats apparently suffering most WIN
ter wheat Is needing moisture for the maturing
period. and corn shows drawbasks' DOTH: now w
vorableness. Spring wheat reports mainly ell
couraging
THE decrease in Minneapolis elevator stocks
goes on steadily and for five days the shrlnkage
IS $4,000 bu. Local receipts today were only
90 cars against 200. Figures for other points
were 35 and none for Duluth. I and for Obi
Po~ jrrir
OF the -four market the Northwestern Miller
SAYS: Last weeks business anything but
satisfactory to Minneapolis millers Instead OF
the advance IN wheat stimulating buying to the
extent that might be expected, 1t seemed to
have the reverse effect. There were mills which
increased their sales over the preceding week,
tations far less than an equivalent Of the full
advance Some reported that even at old prices
;. the trade seemed disinterested. When it came
to exactng full price, based on the higher cost
Of wheat sales were restricted to small limits
This Is about the situation at the present time
Buyers appear. far, to have attached NJ
great importance to the strength shown b!
u W. Shields Of Kansas City. on 'chang
@todGy, said: 1.-The drought in the southwes
. is over We do not need more rain to make tn
crop for the harvest will be There
were places where the rain came too late to d.
much good. General talk now In Kansas CIT!
among conservative grain men is for 65,ooO,oO
to $4,000, 900 bu for Kansas. Oklahoma vii
have more than last year. Taking the south
west as a whole, think there will be about a
much wheat harvested as there was last year
Primary receipts. 10000 bu against POI ,OOC
Clearances, 1000 bu.
49,. st. Louis receipts 90 900 bu against 1000
Kansas City, "a, 600 against 10000.
* Liverpool closed Nd lower.
- The weather map shows scattered rains !
Canada. general rains in North Dakota, sout
! Dakota, Nebraska and Kansas, raining
Light showers In Missouri and northern Illinois
Heavy rain from ST. Paul south along the Mis-
sissippi river to Keokuk Temperatures season
, able Indica lions are for showers and thunder
. storms over entire forecast district. Temper
atures somewhat higher in northern tier Q
states. Kansas, showers and thunderstorm'
warmer.