The Minneapolis journal., 1906-07-13
AL Points Sounded-Red Rust,
IS but No AuthenJ1c Case Of
Black Rust.
Woodworth a Heavy Seller and
the Market Unable to
Withstand It. ~
Liverpool F'irmer and an Export
Basis Believed to Be
Nearing.

Minneapolis Chamber Of Commerce, July ID
The Hattening out of a number OF black rust
reports sent in from the spring wheat helds
took the strength out Of an early market that
looked like going higher. The foreign tone
was very good, Liverpool cables coming firm
and closing H@Ad higher. As the trade be-
neves the country has got to do a foreign busl-
ness and as the export basis is matter OF
the getting together Of American and Suro-
pean markets, this exhibition OF strength IN
/ Liverpool encouraging. But the market
had been bought rust weather and rust re-
ports. There is enough red rust IN the ne!os
4 to make a situation wen worth watchlng' Ior
red rust is the forerunner OF the black, the
spread of the latter depending upon the wealth
er There is rust weather over the nortn-
west and moro showers to come Ihere may
L even be black rust But 10 TINS writing
| not single case OF the black rust mas Deen
Il found. Traders who had expected 1t, and VINO
Il bought yesterday and Wednesday, were natural
lily a little tinid when nothing bad came In,
h and when big firms began to sell wheat they
Woodworth sold the market down from 7shc
u +o 7sAo and offered It so steadily and In such
Il large lots that the buying was OF little avail
against it. Around 7sAc Marhem began - TO TO
the heavier selling ceased, and the smaller
I traders and scalpers sold out Before noon
the market locked weak and very threatening
i for the bulls.
Kansas City failed to make as big show
ing as expected In receipts getting only zoo. 900
/ bu, against 821. 900 bu but St. Louis made IT
L up, with a1,ooo bu, against 10000 ou: MIN,
II neapols had 1ss cars, compared with 1so. and
IL other comparisons were, Duluth 10 and 49,
Il Chicago 178 and 81, Winnipeg 81 and u. MN.
IL peapolis elevator stocks will decrease ABOUT
FL 400, 900 bu for the week.
Es Argentine shipments, 100000 ou against
III g. 6sS, 900 bu last year.
si Primary receipts, s7s, 900 bu against eoe, ,ooc
Il bu; olearancss 212ooo bu
The Modern Miller In it's weekly summary
4 says: ''winter wheat harvest is progressing gen
Il orally, favored by weather conditions with little
Il Interruptions by rains. The new crop Is being
b marketed freely, but many farmers are storing
Il and stocking their crop, refusing to accept TN
II lower prices bid them. From the total winter
II Gated by the government July conditions,
III surplus Of 16O, 900, 900 bu can be spared 10
IL export after meeting home requirements 70
ss bread and seed Of nearly $50, ,ooo, 600 bu, tn
SR and leaving for reserves so,ooo,ooo to carr!
Estnto the 1907 crop, or the same amount ina
was carried into the 1908 crop
}g Bennett Of Chicago had bunch OF message
ito inquiries. These unanimously report no olac
rust, but wheat prospects excellent. Points GOV
3ered are Grand Forks, Darlington, Larfmor
and Park Etver. Darlington reports some re
rust, but all points say prospects hne to 1oea
E{ The weekly Argentine cable says the whea
IL market Is firm, with q quiet demand Arrival
81 from the interior light and quality satisfat
sE tory Corn is firm with a good demand. Al
rivals from the interior are liberal and ID
4 The forecast: Illinois and Indiana, shower
1 tonight and Saturday, cooler tonight e1tren
Il north; lower Michigan and Wisconsin, showe>
/ tonight and probably Saturday; Missouri snoS
ii ers tonight and Saturday, except northWes
IA fair: upper Michigan, showers and cool tonlsl
} aud Saturday: Minnesota showers tonight, ga
# urCay fair; Iowa. showers tonight and saul
"a INcrbaska, Kansas and Montana, fair tonigl
tEand Saturday.