The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-08
Wheat dead broke am. without q friend.

Minneapolis Chamber OF Commerce, Sept s.
Good weather, lower cables and weaker tone
in corn put wheat of again this morning. Wat
son surprised the trade by buying freely. Obi
cago pit traders bought on the report Of Wat
sons purchases here. This checked the decline
Nothing in tho Watson gossip in the attitude
any indication of change OF front, and the
advices posted as received by the firm were
other Indifferent or moderately bearish. The
buying was assumed to represent the taking in
Of line OF short wheat at profit by some
eastern interest trading thru the Minneapolis
drm and content with the profit shown. When
the buying ceased selling carried prices OF
sgain. September finally going to es%c. Decen,-
every house had selling orders. and Woodwork,
Sowle, Hallet, Lewis, Piper, Whallon, Van Du-
sen and others had something to sell, not heavy
In any case, but collectively heavy enough ~
make pressure. December went to put price
early, and pit sellers of puts yesterday were
sellers of wheat for protection today. There
were few little stop-loss orders uncovered, and
their execution made additional weight. The
cash market was again indifferent to weaker,
and No. l northern at 2@2hc over did not
sell quite as briskly as could have beeen dc.
sired, while No. 2 was down to only 10 over,
and rather draggy on the less desirable lots.
Receipts here, tho still we'll under year ago,
looked better at 264 against 425 than In
recent comparisons and as Duluth got 2O4 cars
against H. the northwest comparison was 46S
against 467 a year ago, which, in view Of the
less favorable cash wheat situation just at
present, was considered bearish. Chicago got
only II cars against SO, but Winnipeg showed
the big comparison Of PA against 3S. st. Louis
received $4,000 bu against 81, 900 and. Kansas
City 11S,O00 against 2SS,OO0.
The government report to come on Monday
Is expected to move the market one way or the
other according to its tenor.
Liverpool closed M@hd lower.
Minneapolis stocks decreased S17,1bO bu tot
the week, leaving only 8, 321. sO7 bu in store.
The secretary of the Oklahoma Grain Dealers
association says: Twelve per cent of the wheat
in stack and 81 per cent Of that In shock has
been damaged. Average yield per acre, Is bu
with 90 per cent of crop threshed and 70 per
cent in stack
Worlds shipments for Monday next should be
about 6,0OO, 200 bu wheat. Broomhau predicts
that there will be liberal decreases in the guam
tity of breadstuffs on passage. Liverpool cabled
wheat was quiet at the opening, with values
unchanged. There was some support in Deem
Der because the Russian senli-official report on
spring wheat was unsatisfactory to bad In all
districts, and the estimate for tho worlds ship:
ments for the week were small Later, how
syer' there was some liquidation in September,
with large tenders Of contract, and this selling
caused pressure In December Corn was quiet
ct the opening, with values Va lower. followed
later by an additional decline Of Ad. Pressure
resulted from the weakness in America yester-
day and short selling.
The forecast reads: North Dakota, showers
tonight or Sunday; Minnesota, fair, cooler near
Lake Superior; South Dakota, fair, cooler ex-
Wisconsin, Illinois and Indiana, generally fair
tonight and Sunday; lower Michigan, fair light
to fresh winds. mostly southwest.
There was wire from St. Louis claiming
that the Illinois state board has estimated the
wheat crop at 80, 900, 900 blu as compared with
0o,000000 blu as a former estimate. The claim
Of 60 600 900 bu made about the time the last
Illinois report came out was a report without
Foundation and was ridiculous. The government
makes the Illinois wheat area 2 DIS 900 acres,
and the state board makes it about / 600 600
acres. former report Of the Illinois board
made the yield of the state about 81 900 600 bu
Clearanoes. 270,000 bu. Primary receipts,
518, 900 bu against 918,OOO
: The market closed weak at low points in the
active oDtions Wv