The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-08-03
Wheat sttn very unsteady.

minneapolis Chamber Of Commerce. Aug. g.
Prices went down again soon after trading be-
gan In wheat today. for there was selling of
all futures and not enough buying to Offset 1t.
ALI the news from the country was favorable.
Showers fell in the Canadian west, and in
North Dakota Minnesota, Nebraska, Iowa. Kan
sas and Missouri In no case was there any
rain heavy enough to Interfere with harvesting
Of wheat, while the country had the
benefit OF wetting down. It was raining this
morning at Kansas CITY. The wheat pit watched
the corn market and found help there. The
Kansas City Star had a summary Of 100 re-
ports on corn Of which eleven were poor and
4he Others excellent. Fair and cooler Is the
prediction. 1t Is hard to see how the crops
The weather, with some minor exceptions, has
been just about right Storms have done some
damage. One storm thru southern and south
central Minnesota did material damage yet
relative to the grain, promise on the whole
1t was not important The bears in the market
have profted By all this. The bulls have
not always remain, and bad weather must be
expected some time, they have been upon the
sdge OF change as the predictions have been
| iess favorable. Two days ago. with rain falling
! northwest and more Of It to come it really
looked like the end Of the decline for wet
harvest was suggested but the weather again
/ changed for the better. leaving the market
| without life or new speculative interest to
stand the hedging against cash purchases and
/ new short selling.
The speculative situation, despite the long
1 posed that after steady decline the market
! would now be to turn up, but pit traders
3 and brokers who give advice to customers are
Il still rather shady in their views. The short In
4 terest is not large, altho one might suppose
i 1t would be- There Is not much speculation
I Then there Is the question of September uQui
\ dation If there is any large quantity OF Sep
Y TENDER wheat held it must come out some day
4 THERE'S just one chance for bull markets
wet harvest. If this comes along wheat viii
81 advance very quickly. If 1t does not come ant
NO tbar ho1H tar do
1t will be question Of how we'll the marke
will stand the continued hedging sales and tn
\ selling out Of the long stuff that holders vii
4 not want to take over and pay for Sept. 1
81 1t looks today like even million decreas
IN local elevator stocks this week. Receipt
here today were 1873 cars against 1873, at Du
lss, Winnipeg received IL cars compared wit
B, St. Louis 10000 bu against 10000 an
Kansas City 29So00 bu against 167 900.
Liverpool cables were SD lower, Antwer
tAc lower. Paris cabled that the wheat Gro
of France viii be barely average In YIELD
london reported rains In Argentina relievin
the drouth. l.
Argentine shipments for the week, LOG, 90
Blu against 1,s240O0 in the previous week an
B,O16,OoO year ago.
Cash demand was again satisfactory at ~
over September for No northern and &c owe
FOR No. 2.
Primary receipts, 1.1ssooo bu against 1852. oot
Elearances. 26S,Oo0; clearances for the weel
/ a,se5, 900 bu.
Inc NouSku MAAer eaySt almcrS uellVe
/ 4 les Of wheat are small Of soft winter and heav
! Of hard winter. Most Of the soft winter whes
Farmers refuse to sell at present prices
/ Missouri feeding Of wheat to hogs is reported
! 1 but SO far this is Of little consequence. II
! returns from the threshing machines indica
/ that the average yield per acre nearly ever
III where Is the largest ever reported
III There were more bad reports from Illinois {
BORN, but very few buying orders
The weather forecast, Illinois and Indian
partly CLOUDY tonight and Saturday; Missouri
! fair in east, showers west tonight and satu
day; Iowa, fair except rain west, cooler MINI
sofa. North and South Dakota and Nebrask
III rain and cooler; Kansas, rain tonight, cool
northwest, showers; lower Michigan, thunde
storms; Wisconsin, fair tonight preceded
vhowers northeast, cooler west.