The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-08-01

Minneapolis Chamber Of Commerce, Aug. L.
The new month opened with enough strength
In wheat to turn the market up and make 1t
look as tho yesterdays weakness was the end OF
: the decline for the present. But the New
York exporters soon began to wire out that they
could do nothing, that bids were out Of line
and no business was being worked. One house
identified more particularly with the sale of Man
itoba wheat for export sent very discouraeing
report. This disturbed the bulls, for 1t would
seem from the recent action Of the market that
daily export business is almost necessary now
to hold the market The Kansas City Star
issued an estimate putting the wheat yield of
Kansas at 100000 Blu. This loosened up
some more long stuff and September having sold
here early at 74sc, off to 1880,
and weak as ever. In Chicago Patten and some
Of the other big traders buying wheat but
the trade believed they were only playing for
scalp and did not follow very closely.
Receipts here 11S against 1876 at
Duluth "a against % and at Chicago 297 against
200. Winnipeg received 80 against 7. Kansas
City receipts 327 900 blu against 221 900 and
st. Louis got 10000 against 10000.
Minneapolis elevator stocks have decreased by
100000 bu for four days.
Primary receipts l, 401 900 bu against 1,347,:
900. Clearances 477,0OO bu.
The weather map showed it partly cloudy in
Caneda TEN temperatures 4 to e.; North Dakota
cloudy, 60 to 10; Minnesota clear, fair rain at
Moorhead and St. Paul, 81 to Sc; Nepraska part
lyt cloudy, light rain at Omaha, SO to es; Iowa
cloudy, general light rains, "a to SO; Kansas
good rain at Wichita. Sc to IS; Missouri clear
trace of rain at Kansas City, "a to 70; Hi
nois partly cloudy, 70 to rs.
The weather forecast: South and North Da-
kota-Thunder showers tonight and Thursday.
Minnesota-Showers, cooler. Iowa-Thunder
showers; warmer northeast tonight. Missouri
Fair except thunder showers Thursday. Kansas
Thunder showers tonight or Thursday. Nebras-
ka-occasional thunder showers tonight and
probably Thursday; cooler. Ilhnois-Fair in
southern. showers in northern portion tonight
and Thursday. Indana-Fair.
Liverpool cabled: Wheat easy, IA lower at
opening, in sympathy with weakness in America
yesterday and large American receipts. Later
come steadiness developed and prices gained II d,
owing to damage by rains at Nicolaieff, Azof
Russian report and buying by large houses.
Corn easy, u @$d lower at opening. Influenced
by weaker cables from America yesterday. Later
some steadiness developed and nearby options
the drought in Missouri and Mississippi valleys
and the severe drought In Missouri, together
with a good inquiry for near La Plata cargoes.
Broomhalps Portuguese agent reports that the
yield of wheat Is the biggest known, and that
no Imports will be necessary. Corn prospects
poor owing to drought. A semi official Russian
report for the week ending July p says winter
wheat good average, rye unsatisfactory; all crops
In the steppes, southwestern Crimea and the
southwest have deteriora ted. An Odessa agent
cables that the weather is overcast and there Ii
general strike Of grain laborers.
New York sold 76 loads for export.
Poehler says that a large importing house from
Liverpool reports the ufollowing: Situation IL
siderable competition for any surplus from Amer
lea on this crop. AS to Russia, it is proven
beyond doubt that she has one of the wors
crops known for many years." Mediterranean
Importing countries which generally rely o.
new-crop Russian wheat are competing for Ar
looks as If that country's crop has been over
estimated. - 3D. =