The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-21
Much Depending Upon Whether
or Not the Southwest Gets
Rain Tonight.
A Strong Upward Move in Prices
in All Active Options
Today.
Statistics Favorable to Strength
News of an Active Bull
ss.. Day.

Minneapolis Chamber of Commerce., May H.-
The ruin predictions for Sunday and for last
night came along all right, but it did not come
in the right place. The northwest got a steady,
quiet drizzle, wetting the land from Canada
down, which was very good. But 1t Is the Win
ter wheat that needs the rain and when the en-
tire country was sized up this morning, prac-
tically nothing showed up in Kansas or Missouri.
AS a matter of fact there were rains, but they
were extremely light and there were very cloudy
skies, somewhat deceiving as suggesting more
rain than came. Actual measurements showed
.65 inch at Dodge City and from .02 to Oh at
other points, mere aggravation to the farmers
who want Il soaker. Over Sunday a NUMBER OF
members of the Merchants Exchange of st. Louis
slipped out into the country to see what they
could see. Members Of the Commercial club OF
Kansas City also ran out into the Kansas wheat
belt and into Missouri to see whether the coun-
try really was as dry as represented. Most OF
them said it was. and that it made one thirsty
to look at it. By 10 o'clock these non-profes-
sional observers, whose opinions, If not authora-
tattve, are at least representative OF what the
average person would conclude. were each in
their city haunts again and were sending out
private Geographic advices to their friends In
Minneapolis and elsewhere. covering the s1tua-
ton.
Prices strengthened. Chicago May sold to
S51ac, July to $3.50. Minneapolis May to S2Nc,
July to $3.50 and September to Sokc, and the
market looked higher. The only thing that
saved the bears from worse punishment was the
forecast, which is for showers and thunder
hlS loh16ALp LIZA q cS SANeNA w. SSNASNS 49,
Guiding Kansas, Nebraska and Missouri. This
may not come out. More than one prediction that
In the posting Of 1t suggested the end Of the
drought talk has failed recently to make good.
Still there is an old saying that 1t is never too
late to mend, more applicable, perhaps, to a
drought situation then to any other affecting the
crops. There comes a time when 1t Is indeed
too late to mend. but in drought it comes much
later than people ordinarily suppose. The wheat
plant. Hike a good ~pugilist, can stand much pun
1shment and come up smiling after a brief res
pite. The crop in the dry districts Is, indeed,
In an u~npromising condition for lack Of rain, but
even If reports are taken in full and it be as
sumed that there is no eEaggeration, there is
still opportunity Of a return to the former high
promise with rain within a reasonable time.
Statistics were a help to the price. Worlds
shipments showed an increase in the quantity
sent out by America, compared with the week
preceding, and a decrease In the Russian figures.
Receipts were light and Minneapolis elevator
stocks decreased 400, 900 bu for two days. Min
neapolis got 1873 cars against 1877, and the other
comparisons We're: Duluth 49 and 8, Chicago
10 and 2, Winnipeg 125 and 50, St. Louis 4S, DOC
bu and 5000 bu, Kansas City $4,000 bu and
81, 900 bu.
72s, 900 Blu, increased 792, 900 bu for the week.
Stocks at Port Arthur and Fort William, al
1926, 316 bu, show an increase for the week OF
$50, 1873 bu.
Liverpool opened 80 lower, but closed A@%d
higher.
The cash market showed unbroken good de,
mand. l12c over July FOR NO. 1 ana July price
for No. 2 still ruling.
Primary receipts. 80. 600 blu against 437, OOO
bu: clearances, 2O6, 600 bu.
Late in the session the crowd was buying
wheat on Secretary smiley's Kansas report. He
says conditions are much worse than he
Thought They are still blowing I'D wheat and
some Of the best sections will not raise q
per cent.
Later it rained in Kansas, rain being reported
at Newton at l pm. Chicago wired that pi;
traders were selling wheat on the report of q
shower at Newton. Kan. but that Newton Is
about the one place in Kansas where they dom
roo6 roi,