The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-03
liverpool and Other European
Markets Close Lower Than
Yesterday.
Rumor Of the Sale Of Wheat Here
for Shipment to the
East.
A Few Bad Spots, but the Crops
Generally in Good
i
! Shape. "

Minneapolis Chamber Of Commerce, May g.
Foreign markets were lower today, putting weak
ness into wheat and making 1t hard for the
bulls to do much. Europe does not follow very
readily. Argentine shipments for this week will
De about $500, 900 Blu, and that Is one influence
against higher European prices. There is enough
wheat coming along every week to meet require
ments, without counting much upon America
and with good crop prospects side for
eigners do not apparently feel very bullish.
Liverpool closed 3s@&d lower, Antwerp SIC
lower, Berlin $50 lower and Budapest 1sc lower
.Advtces from abroad of steady business In
Liverpool commercial basis, and but little
speculative interest. Millers here reported
little better business yesterday, but it was do
nestle, and foreign sales remained small, con-
Sist1ng of very low grades. IS
The crop news might be described gen.
orally favorable. with admixture of bad e.
ports, but scarcely enough of them to change
the situation. Mount Vernon, Ind, and Sher-
man, Texas, were widely separated points re-
porting deterioration. Southern Indiana sent in
all some ten reports Of less favorable crops, and
; st. Louis had batch Of bad ones from Mis-
souri,. Occasional instances of the running down
OF the winter wheat crop learned Of and
some have been verified. 1t is doubtful, how
ever, If there is any larger proportion Of un-
! favorable reports than might be expected in
. any year, however favorable the general sum-
mary. From Kansas City message from
the Farmers Cooperative association, with
. twenty elevators. that these houses COM
bined are shipping only two old wheat a
/, day, and that 1t Is hard to get the old stuff
Z anywhere. This had some streng thening effect
and cash wheat did better In southwestern mar
kets. Locally there demand for No. /
northern at Sc May.
avs @. V. Topping, secretary Of the Oklahoma
Grain Dealers association, says the outlook In
Oklahoma Is for a splendid crop, probably
80, 900, 900 bu. Corn planting is nearly done
8 The Price Current finds that the past week
was very favorable for crops, and that while
some localities have needed rain. recent preeipi-
tatton gave relief and the situation now is very
= encouraging.
The decrease in local stocks Is $50, 600 Blu for
{ Eve days. Minneapolis had 1872 against 1877
last year, and other comparisons were "a and 8
: at Duluth, 10 and q in Chicago, 206 and 1874
for Winnipeg, 81. 900 bu and $4,000 at Kansas
City, and q, 900 bu and II 900 bu at St. Louis.
The Northwestern Miller says: minneapolis
mills experienced a pretty dull -four trade this
week. Their sales seem to have been the light
est for some time. The limited buying was
: only to meet the most urgent necessities. 1t is
hard to convince buyers that it would pay them
to stock up at present prices, and they are
drawing -four to a considerable extent from
mills old contracts. This tends to bring in
shipping directions, and millers reported the in
structions to have come in rather more freely
Primary receipts, 321 900 bu against 800, 900;
{ clearances wheat and flour equal GOO bu.
The rumor that some wheat had been worked
to go east from Minneapolis frmed the market
near the close, coming as 1t did cOinc1dent with
the arrival at New York from Buenos Aires of
: W. s. Taylor. who issued bullsh statement
covering the Argentine crop.
Inc weather forecast reaQS as IOlOWS: ILL
nois, generally fair except local thunderstorms
tonight or Friday, warmer; Indiana. generally
fair except local thunderstorms tonight or Fri
!. day; Missouri fair except local thunderstorms
in east, warmer tonight, cooler Friday; lower
Michigan. showers and thunderstorms tonight or
Friday, warmer; Wisconsin, showers and thun-
derstorms tonight and Friday, tonight.
cooler Friday; Minnesota, showers and thunder
storms tonight and Friday, warmer in east to-
night cooler Friday; Iowa, generally fair ex
cept local thunderstorms, warmer tonight, cooler
: Friday; North Dakota, showers and cooler to-
night Friday fair; South Dakota, generally fail
tonight and Friday, cooler Friday; Nebraska