The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-07-24

Minneapolis Chamber of Commerce, July pa
Export sales Of 100000 bu No. hard wheat On
ing today, had the effect to turn the market
armsr and put the 75c level again out Of sight,
Septeuber going to 7ec and holding just under
that figure. There was one lot OF rye, oo,ooo
Blu, sold for export. the first Tor a long time.
and business was close to working IN corn and
oats. Chicago did most Of this. The seaboard
markets did big days business selling for ex-
port oyer 800. 900 bu wheat. This was princi-
pal!y durum wheat Manitoba spring wheat,
but II was good business nevertheless The
fact that much interest could be stirred up
the bears tho not admitting that wheat has
yet struck bottom, could find no courage to
press 1t down while these export sales were
being reported
BLACK rust news from western Canada was
another influence. Thompson Of the Ogilvie Mill
ing company and Black of the same company
were credited with sending out the news. The
trade had doubt as to the seriousness OF
it. yet the market felt some buying. OF Min
nesota and the Dakotas the Van Dusen-H arr1ng-
ton company says: The safety OF our crop
progress. Work viii commence In the oats
fields this week. and next week, or Aug. l. the
farmers of South Dakota and southern Mime
sofa will begin harvesting wheat.
'"Ihe season has been remarkably free from
bad winds and transforms, and the magnificent
weather since our letter of July II has brought
forward our crops with such speed that black
rust has remained tied at the post The fields
where it first discovered have all been re-
examined for us and show the percentage OF
damage to be very small. The heaviest loss up
to this time is due to loose smut and red
rust.
1--WE think South Dakota has raised better
than an average crop of wheat, and that 1t Is
practically out Of danger.
I'm North Dakota they have had some hail
storms and considerable red rust. Harvest is o
week farther away than in South Dakota, but
with the continuation of good weather North
Dakota will probably produce much small
grain as in any previous year. Minnesota con-
dtions are equal to the average"
Cash wheat demand satisfactory at 20
BIC September for No. northern and
1a@&c over for No. 2. .5 -..-..' ~
Minneapolis elevator stocks decreased 325, 900
bu for three days. Receipts here were 80 cars
against 1885, in Chicago 747 against 467, in Du-
lpth go against 8, and in Winnipeg 1877 against
g. Comparisons at Kansas City were 6s1, 900
G b sas ''4' 000' at st. Louis I'D 900 0' and
Primary receipts were 1,s5s,ooo bu against
1ko8 900; clearances, 14e,O00. =. ..--F
Boston reported that export sales aggregatng
$4,000 bu were made there yesterday. No
reports from Boston were included in yester-
days export claims.
A prominent New York exporter wired late in
the day: 1.-The reports about estimated export
frsde are greatly exaggerated at least regard
ing New York Ocean freights have been taken
on speculation, but wheat not SO long. Freights
to Antwerp advanced one penny last week.
Hate closed every day few loads There is
no rnsh to bug like in former years." .-e-
3, Lenders, In his London letter of July ~,
S
freely, but the Australian surplus has been prac-
tieally disposed Of. The Canadian harvest has
been secured and the Danubdan Is suffering from
heavy rains It Is towards Russia-the land
of Inystery-that the eyes Of all traders are
anxtousay turned. VIII there be another large
surplus as in the last TIVE years, or has the
time come around for dehcienoy7 It must be
admitted that all reports received lately point
in the latter direction. We have had cables
from Odessa this week advising that spring
wheat crop was expected to be about the same
Sxvfy,k To Aho,, 1oek
from Roston that the deficiency in the districts
from which their supplies are drawn is esti-
mated at % per cent. Since receiving these
reports. however, there have been adyices of
heavy and continuous rains, which have retard-
ed the harvest and which will lead to less sat
1sfastnxy results in the Odessa district and a
thing to confirm the pessimistic theories, and
this Is the almost entire absence Of offerings,
both Of new crop and Of old. This is novel
experience to us for the time OF year, and is
not without certain significance. The imme-
diate future Of the market descends on North
America and Russia
i The weather was very favorable. EARLY re.
ports rsad as follows: Luverne clear calm,
warm; Parker, 8. D., clear, calm warm; viborg
ciouty. calm; Madison. clear brisk south wind
Watersoo and Mason cdty, cool; Red Wing,
clear. calm, ~; Breckenridge clear, COOL Graf
ton, clear; Comstock clear, warm; Sioux City,
cleaF. southesst wind 20; Sioux Falls, clear,
EedAesd. clear, brisk southeast wind, &c; Aber
deem. clear, light southeast wind e5.
Winnipeg wired Cummings that thruout Mani
toAa and the western provinces it has been de-
eided1y warm, temporal lures 80 and over in th<
shade. Local showers have occurred in Alberta
and Sasha tchewan The II 80 weather report
showed: Valley City, clear, southwest wind
49, Aberdeen part cloudy, calm, 30; Redheld
clear. southeast wind; Huron, part cloudy, cool
Fargo, 80.
The question OF harvesting the crops is nov
under discussion, and the supply Of labor Is
thought to be more Inadequate than ever ri,
year The Canadian Pacific is bringing mer
over from England at special excursion rates
good to return in November, for Manitoba ant
the west. -, n.