The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-31
Prices Recede in ALI Options, an
Easy Feeling Developing in
Chicago May, l.@
Weather Generally Good, Altho
More Rain in Northwest
Where Not Needed.
Flour Trade Quiet-Stocks Fall
Off Somewhat Less Than
Expected.

Minneapolis Chamber Of Commerce, May ST.
No encouragement appeared for the bulls In
thing in Sight to encourage the bears to acti7->
ity. The market dragged. The undertone, how
ever. was weak. Support was forthcoming
around SIC for Minneapolis July and at Soc for
September, but Chicago May, long the mainstay
of the market, soft. and 1t looked tho
the stopping points Of the two more active
options might be broken thru Some selling out
Of long July noted, but nothing to indicate
anything important, while September, altho weak
in line with the general market appeared to be
largely in the hands Of men who have taken
1t to stay by It, The bulls found little
help in the further rains In territory tributary
to the towns of Grand Forks, Hillshoro and
Comstock. where heavy downpour record
ed Tuesday night. yesterday, and where
cloudy skies and sprinkl1ng rain still remained
this morning. but for the entire grain country
the outlook good, and whatever fear of too
much rain in the northwest there might have
been lost in the local prediction for fair
from aoat to a c F fol Nav sy c i
and Minneapolis July had declined from S2Ac
to S1Sc, September from S0Ae to 1875 @79ac.
Minneapolis elevator stocks decreased $4,000
bu for five days, pretty good decrease vet
less than expected in view Of the larger de-
crease last week. Minneapolis, received 259
against OIL Duluth II against 2, Chicago
against 20, Winnipeg 81 against So st. Louis
had $1,000 bu compared with $4,000 year
ago. and Kansas City 81 900 against q, 900.
The Northwestern Miller says: minneapolis
mills experienced very dull trade last week.
Buying was light and sales were much smaller
than the quantity Of -four turned out. The
trade seems to be getting the flour it needs
largely thru having shipment made old
ders. New business consists Of scattering small
lots, wanted quickly. Tho stocks are appar-
emily small buyers give little heed to the ad-
vance In wheat and are delaying purchases
cept to meet the direst needs
Cash wheat sold readily at lie over for
choice No. and July price to Nc for
No. 2.
Argentine wheat shipments for the week are
estimated at 2 900 900 blu and corn at 2 2oo. 900
hu Last week shipments were 1904, 900 bu
wheat and 2,64,00O corn. Shipments year
ago were 2,796,0OO bu wheat and 2425,O00 corn
Primary receipts, 457, 900 bu against 9O5 e00
Clearances, Ala. 900 bu.
The Price Current, in its weekly report Of
the outlook says: ..The breaking Of the drought
the past week by general rainfall has afforded
important relief to growing crops but 1t Is
apparent that the high promise earlier in. the
season has been materially lowered. Wheat is
heading out short straw, and to what ex-
tent the crop will be curtailed it is impossible
to say at this time. The recent rains have
been beneficial to the oats crop, which has
ea P ez bpt it be s
crop can be very largely overcome. The corn
crop still admits Of good possibilities, but is
Irregular incident to slow germination delayed
planting and necessary replanting. The low
temperatures at the close of the week have
not been favorable for this crop. but ains
Will prove beneficial. A notable exception In
the general situation is that in Iowa weather
conditions have been favorable and all crops
regarded in encouraging and salts
factory position in that state.''
kalb wired from Salina. Kan: Grains re-
Gently have improved wheat crop along Union
Pacific from Kansas City here, greatly, especially
Salina county. Fair to very good promise;
straw short. but heads long" Corn east OF here
backward; here good.''
According to official Russian report of
May Is crops In the eastern half of Russia
are unsatisfactory to bad. In the western half
of Russia. including the Crimea and Caucausus
the crops are good. and even excellent in some
parts. In the central and north the crops are
satisfactory. y