The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-02
Turning Easy Near the Close -
Big Deliveries Considered
Bullish.
More Taken Over Than at First
Supposed-Flour Lit
tie Better. r
Nicollet Issues a Very Favorable
Winter Wheat Sum- /
mary.

Chamber of Commerce, May 2-More COM
plete returns today showed that the report
yesterday of 100000 bu, for deliveries of
wheat on May contracts. was an underestimate
rather than an overestimate. Altho the mar
ket closed at 1:15 pm, the usual time, yes
terday, sellers had until 2:30 pm. to deliver,
and they put out considerable more. making
the total slightly in excess of 5000, 900 bu.
The heavier the figures the better for the bulls.
was the general conclusion, for delivery meant
the passing Of the wheat into strong hands
and so much Of weight of the market. In
stead OF the rally expected however, uncer-
falnty was the feature of the market and prices
advanced fractionally only to ease of again
The big declines in the stock market one
reason for speculative hesitation In wheat. The
crop news was favorable in the main and the
general situation bearish altho the bulls keep
on issuing reports of crop damage in Kansas
and this morning threshing machine company
was said to have letters and conhrmatory wire
reports OF deterioration In important Kansas
counties. 1t is easy to find such reports that
are reliable. There has been damage in places
in winter wheat territory But. relative to the
whole, considering the crop promise of the
southwest IN itsy entirety, nothing that can be
verified has been received to warrant belief
in any material change. The crop is looking
hne. Texas, tho not great wheat state, raises
enough in good year to be important, and
should her crops come the market early
1t would have effect. Adyices today that
f, the harvest will set under way in ten days
with the largest crop the state ever produced
ready 10 take IN. InlS WOulu mean
, over 20 600 900 or $4,000. 600 bu even II fully
realized, but while the quantity is small con-
sidered in relation to the total wheat production
OF the country. yet in the current street. ex-
! preston every little bit helps and if it is
to move to market early it must be consid-
cred important speculatiyey
In the northwest the turn Is being made
from interest in seeding to greater interest in
crop reports proper, for while It is true that
In the wet parts of the Red River valley some
Of the wheat Is not yet seeded. the new crop
is above the ground in other localities and is
looking fine Near Glenwood MIMI, and OH the
Hastings & Dakota division of the Milwaukee
road are long stretches of green that in another
week, with good weather, will show up we'll.
Cash demand was good at &c over May for
the No. 1 northern. Local elevator stocks de-
creased 600 bu for four days. Minneapolis
received 15s against 103. Duluth "a against
3, Chicago 1 against II. Winnipeg had 1o5
cars against 66. st. Louis received 10000 bu
against $4,000, and Kansas City $1,000 bu
against $4,000.
Liverpool closed sd lower Berlin and Buda-
pest each &c lower and Paris steady without
change
Primary receipts, 2460 600 bu, last year 25s,-
600. Clearances 1000 bu.
Nicollet Of the Kansas City Star issued the
following report on the crop conditions in the
southwest: This season has started in a way
to indicate that the year is to be extraordinarily
favorable for the farmers of the west. 1t is
dangerous to predict what kind Of weather may
prevail throughout the summer, but the spring
has thus far been just the sort to give promise
of large crops. With the exception of two dry
and windy days in Kansas last week. there
have been no unfavorable conditions. Frequent
rains have fallen thru the month of April,
but they have not been heavy enough to in
terfere with farm work, which has progressed
rapidly. Tho the progress of planting is
somewhat behind that Of last year on May l,
1t makes favorable comparison with an aver
age year. Corn planting will be about com
pleted in another week in Kansas, buch OF
Missouri and Oklahoma, but will require more
time in Nebraska. The condition of the soil is
good for receiving the seed and the crop SHOULD
make good start. The season has been favor
able for the growth of the wheat and the pros
poets are promising everywhere except in some
northwest Kansas counties embracing about q
per cent of the total wheat area of the state
In that section the crop will be light but the
deficiency there probably will be offset by larger
yields than usual in other parts of the state
There is nothing in present conditions to pre-
vent wheat crop of 80, O00,0 900 bu in Kansas
In Oklahoma prospects are for twice last year.
crop; in Nebraska. for about the same yield a.
last year. Pastures and meadows are in flint
condition and the alfalfa fields of Kansas. o
which there 100000 acres, never looked
finer than now.