The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-07-17
Wheat gets a hard fall today.

Minneapolis Chamber Of Commerce, July H.
Big winter wheat receipts broke the market
more than a full cent this morning. Against
yesterdays closing trades around 7S1ac, Sep5,
TENDER was down around the TIC level. hating
at T7Ac the old ground where the bulls
and bears fought it out before. Chicago had
the great total of TIA cars OF which 712
were of contract grade. If there has ever been
so heavy a movement at a like date and SO
large proportion Of high-grade stuff, the trade
has forgotten it. Certainly there has been
nothing like 1t for years. It would seem
that the winter wheat crop of 40, 600 900 bu,
estimated, must indeed be there or the wheat
could scarcely show up so fine and in such
quantity. When it is considered that the
corresponding day Of last year Chicago re-
ceived only 76 cars. the contrast is striking.
Kansas City late In the report of bushels
received, but rough early approximation 500
cars track there, compared with 1853
d year ago. The selling Of 10000 bu in the
pit hedging against these arrivals was the
first effect in Kansas City after which some
scattered hedging continued. Chicago had about
200. 900 bu to hedge to begin with. and more
at intervals later Much Of the wheat had
already been hedged. The bulls looked to Liver
pool for help That market, after the big jump
of k@1d yesterday, was in more quiet mood
today, and gables came in k@&d lower.
Broomhan said the Russian crop advices were
somewhat favorable altho rains continue
In south Russia and it Is feared that the ex-
portable surplus will be lowered unless they
cease. The fields of Hungary, where the har-
rest is on, turning out less than early
estimates. Liverpool had less speculative &C
tiyity and more inclined to wait.
q With reference to export business the out
look little better. yet nothing big in
actual transactions could be learned of. Some
10000 bu No. red worked yesterday and
in all about 100000 bu Sold but this
included durum and Canadian wheat Pfarrius
the New York exporter, sent short summary
OF the situation to ]. D. Fraser which made
1t look like nothing doing at the present price
range. .@. 'i
Minneapolis elevator stocks decreased $50 600
Blu for three days. Receipts here today were
155 cars against II, Duluth 81 against 49,
winnipeg 1872 against 1865, St Louis $50, 600 bu
against 229, 900. The estimated for Chicago for
tomorrow is 343 cars.
Cash wheat sold at &c over September for
& No. northern and u @1hc for No. g.
Liverpool closed 1h@Bd lower
Primary receipts, 1,19s,ooO bu against $780,
eco. Clearances, $4,000 bu nearly all -four.
Bradstreets report shows decrease of 1927,
Blu was east Of the Rockies and 400, 900 bl
In Europe a6oat.
After noon some export rumors began to
come in. prominent Locale miller said that
there business pending that he thought
would result in export business In flour before
the day was over. Domestic -four business was
also better, a number Of good orders coming
In on the break. Winter wheat mfllers Of the
southwest doing export business and it
was reported that mills at Arkansas City sold
-four enough to represent 400, 900 blu wheat to
60 to Amsterdam. -s= re-
Broomhalls weekly summary says: United
Kingdom-A large deficit is expected as com
pared with last year. CHARACTERIZATION OF
crop fair, supplies almost exhausted and the
delayed harvest will cuase serious inconveni
ence Germany-An cereals and potatoes prom
4 Use good. Cutting of rye has commenced Hun
gary-Crops splendid. Roumania-Wheat
yielding we'll with quality irregular. Russia
Continued rains have damaged the crops south
west, particularly the quality. Italy, Spain and
North Africa reports on wheat mostly favorable
The weather forecast Illinois and Indiana
Fair tonight and Wednesday. Missouri and Kan
sas-Fatr tonight and Wednesday. Lower Mich
isroy1- Fol GY6r OH %Nr,f~o yfo
Il cousin and Minnesota-Fair and warmer tonight
i and Wednesday, Iowa-Fair tonight ant
Il Wednesday; warmer tonight except in nortl
central portion. North Dakota-Fair and warmer
tonight; fair Wednesday; showers and cooler
this afternoon. South Dakota and Nebraska
II Fair tonight and Wednesday; warmer.