The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-06-23
Good Balancing Act Today.

Minneapolis Chamber Of Commerce. June %.
Wheat dragged today thru session marked
by Indifference on the part Of many and hesitan--
cy about going short on the part of others who
feared possible bad weather developments over
Sunday. The market held in narrow range.
There more rain in the southwest and some
wet harvest. Purchases Of No. red wheat in
tho southwest were made at little cheaper
prices relatively, and corn and oats were not
quite so strong. Rankin, Pringle and the other
Chicago bulls were bidding up the market, but
they bought little the whole The foreign
news brought nothing Of special significance.
The weather man posted a favorable forecast for
the northwest. but made the wheat bears lit
tie nervous with q prediction for rain in the
southwest Broomhall figures that worlds ship
nents Monday will to 5000, 900 blu, and
that there will be good decrease on passage.
Liverpool closed 1sd higher wheat and corn.
Z Only 10000 BIZ was posted out of storage
for day since making up the weeks report,
very small decrease for the time of year, dis
appointing to the bulls and taken confrmatory
of the poor -four business reported. At that rate
Of decrease there will be $4,000, 900 bu wheat
hard Or No. northern. A month ago when some
of the big mllers observed buying July
the idea Of possible squeeze or at least q
hardening Of the July option as delivery day
drew near suggested itself, but with stocks
holding up so well this has not followed July
has not gained September and has not even
> held its own, and there are some predictions
heard that it will yet sell at a considerable
discount. Anything bad in spring wheat sug-
5 gestive of late harvest and delayed movement
would probably change this. AS to the new crops
Is there has been change of Importance to re-
sfcord IN the past few days New features are
g the Canadian report and the corn report of the
Orange Judd Farmer. The Northwestern Grain
Dealers association estimates the wheat area
4 in Manitoba and the northwest territories at
- 495 900 acres against 4, 019, 900 last year, sug
8gcsting 90. 000. 600 blu against S5,0O0,0 900. The
yacorn estimate is for 81, 371. 900 and pres
Gent condition of 81, suggesting 2, 661 900, 900
hi In re- fho hu1lo In n9 q
grain firm making the promise for total Of not
more than Toe, 0OO, 900 bu and speaking of the
situation in oats calamitous.
s. In the New York Times H. v. Jones says: II
Sllold an optimistic view as to the wheat crop.
sThe weather is freaky, but the extreme of
wind and rain is late development, and I
prefer to believe that wheat is too far advanced
In winter territory to be much affected. Texas
is cutting. Tennessee, Kentucky. Oklahoma,
southern Michigan and southern Kansas are
about ready to cut soft wheat. The Kansas
drought is broken thorly. Nebraska needs q
good rain and will get it, probably. Northwes
tern conditions continue favorable Part Of the
ssRed river valley did not seed because Of flooded
ground. This excess Of moisture benefited one
half of the west Dakota area, CORRESPONDENCE
South Dakota is especially promising, also the
west half of North Dakota and Minnesota is goot
on the whole"
j Minneapolis received ITO cars against 1s1, Du
1uth % against 8. Chicago against 8, Winnipeg
81 against II. Kansas City $4,000 bu agains
5000 and st. Louis e,ooo against q, 900. Pri
mary receipts were 277,ooo bu compared will
100000 year ago.
Tho forecast: Illinois and Indiana-shower
tonight and Sunday; cooler In south. Missouri
Rain and cooler tonight and Sunday. Lowe
Michigan-Probably showers and continued COO
tonight and Sunday. W1sconsin-Partly cloud,
with probably showers tonight or Sunday; con
tinued COOL Minnesota. North and South Dakot
Generally fair tonight and Sunday; cooler to
night. Iowa-Cloudy, with showers tonight an
possibly in east and south portions Sunday
cooler tonight Nebraska-Probably shower
and cooler tonight; Sunday partly cloudy. Kar
Eas--Showers tonight and Sunday; cooler tonight