The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-29
Holiday Tomorrow and Expira-
ton of the May Option on
Day Following.
The Weather Another Uncer-
tainty-A Forecast Indicative
of More Moisture.
Gossip About the Settlement in
Chicago May The Days
News. -.f-

minneapolis Chamber of Commerce, May "a
A holiday tomorrow, the last DAY OF the May
weather made today's wheat market guessing
contest. A, majority Of the pit traders decided
early in the day to get out and even up over
the holiday and wait for the showing OF Thurs.
day This put the market down about 1ac
here and little more than that. in Chicago,
and the trend seemed to be downward. altho
occasional small price recoveries were made.
The map showed more rain in Canada. North
Dakota, South Dakota. Nebraska and trace in
Kansas, and the weather summary and the skies
eyer Minnesota saggsested more to s35a At
trade will have to see better growing weather
before becoming converted to the bear side,
yet there is less bullishness than formerly
more traders are In doubt and apparently ready
to turn either way, and 1t looks as tho with
good weather. the bears may again get show.
Chicago is sending out bear news now. Atten-
ton is being called to Manitoba wheat selling
in Liverpool at price equal to 911ac, and to
Chicago hopelessly out Of line for export bust
ness, also to the easy tone OF the liverpool
market due to larger offerings Of La Plata
but BUTT It scarcely ats In With the present temper
of the market. Traders are not thinking about
exporting wheat at present Only within
ccntered upon the crops, and the question Of
whether not We were TO have crop was
uppermost. Once 1t becomes reasonably certain
that good crop VIII be raised, then the rela-
ton OF prices 70 export cOuu1tfOpS Will Ue I'M
over to ne bear side and made to ssfi wheat
because Ane$ica cannot export wheat at pses-z
ent prices, when It 70 only few days removed
from crop scare that at one time threatened
to eliminate the question Of exporting wheat
, by leaving none TO export.
; Locally, Watson sold the market at the open
Ing. offering both July and September. Corss
, and Keukei took most Of It. Lake-Brown, Hal
Let and others Joined the yelling, and Woodwork
: came in as buyer Of July on the break: Later
Ssse for o July S and BOUGHT about BIZ
In different lots, Poeh1er and Van Dusen selling
It, Considerable, gossip is still goins around
about the May deaf which ID almost over. Ru-
F., along, and there has been much unauthoritative
talk, Some big interest has certainly been
short in Chicago May, and has been buying il
Just what this represents no one can tell. II
1t Is Watson that Is short 1t might as we'll mear
wall street as any other place. The Chicagt
papers have had their commercial writer's s a.
snd tsa Intsr Ocean ea and chro
icle each has printed its differences. Today
the Chicago American says: There will be n;'
fight IN May wheat. Hal Watson, the acknow-
lodged wheat king Of the northwest and th tn;
big short in May in Chicago, will settle with
the bull longs privately. Watson is dyed.
in-the wool bear, and he predicts heavy reces-
sions in values once May is out Of the way
for three days. Minneapolis received 1872 cars.
> Duluth 49, Chicago -, and there were no com
parsons, as year ago today was Memorial
day in these markets. Comparisons elsewhere
were lob cars and 81 for winnipeg, $4,000 bu
and 49, 900 for Kansas City and 81 900 and $4,000
for St. Louis
Cash demand was good at IN @2c over July
for No. northern, and July price to Nc over
81 for No. 2.
Liverpool closed va of, Berlin &c lower and
Budapest SIC lower - ~.>-S- g
Lewis had a cable from Rootov Don
Russia reporting 30 per cent damage by drough
in the volga River valley and in eastern Russia
These are importing spring wheat portions OF
Russia
Primary receipts 277oOO bu. Clearances
wheat and -four, equal $780, 500 bu.
Bradstreet's estimate makes the worlds visl
decrease 3,o7 900 Of which the guam
tity east of the Rockies decreased 3,273,00O
being Offset in part by an increase of 100000 b.
ahOat