The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-11
Trade Now Inclined to Await
Later Reports from the
Winter Wheat,
Analysis Of the Government Re-
port Over Night E'ncour-
ages the Bulls.
Clearances Heavy Today-Local
Stocks Still Increasing a
Little.


Minneapolis Chamber Of Commerce. April IL
Strength and steadiness characterized the wheat
market this morning. The bears had received
their first severe setback for nearly two months
in the government report of yesterday, and were
no longer SO aggressive the short side. The
z bulls while not disposed to try to lift the mar
ket, were satisfied that their position had been
strengthened materially by the condition OF 81
for the winter wheat, for while this is good
condition, we'll above the average for ten years.
It Is a condition fully points under the average
Of expectation The movement marketward also
looked little more favorable to the price, TOT
there were only 145 cars in Minneapolis. This
was an excess over the lie OF a year ago, but
not much wheat on the whole, and II the daily
run does not go heavier from now on there will
be little difficulty in maintaining the market.
especially II -four shipments hold up anywhere
Z close today's posting of GO, 496 brls. The
government report will soon be forgotten. how
ever Next week should mark the beginning of
those private reports and opinions that always
come from the southwest, and as the comment
goes so will sentiment be affected. Many trad
/ ers think the condition Of as for the Kansas
wheat too low, but the government probably
knows about it. Elevator companies and Kansas
CITY and st. Louis grain firms and private
/; commentators and the farmers and country mer-
chants and the state officials and college men
will all be heard from before long, and the win
ter wheat news will be the daily feature. Con-
eitions northwest are favorable meanwhile, but
Kansas and Oklahoma reports, good or bad, are
likely to hold the center Of interest FOR the next
month SO.
The local stocks moved up another $1,000 bu
and now show 100000 bu increase for -four
days, Receipts at Duluth 80 cars against
g. at Chicago IL against % and at Winnipeg 14I
against ii.
Cash demand was good at 1,ac over May fol
No. northern. 1866.
s. primary receipts, geo 600 bu. against 262 ooo .
: Clearances heavy. 494. 900 bu wheat and s,747
barrels -four equal to bs3, 900 bu. .,
Liverpool cables quoted wheat steady, Nc
higher at opening, Influenced by the American
government report published yesterday. The
market continues dull owing to approaching holl
days with the undertone steady; Liverpool corr
later by slight advance. Shorts We're nervous
over lighter American receipts and good con
tinentaI demand for La Plata carsoes.
According to official Indian report for thf
: favorable, with the exception OF some loca
damage by hail reported in the united provinces
semtofficial report from Russia for April
gives condition of winter crops In European
Russia and Poland as satisfactory to good IN
area under spring crops is said to be us larg
jackson Of Chicago says the government condi
tion of So for Washington and 50 for Oregon
partly accounts for the lower condition than wa
generally expected. Were the report to be mad
: believes it would show a much higher condition
The following from the Portland review date
April confirms the idea. 1t says:
1.-The report Of grain conditions given by
last week after the storm which prevailed thru
out eastern Oregon and Washington, have bee
fully justified by late returns from every sec
ftion Farmers who believed their crops blight
led by the heavy wind, and bought grain to re
seed thier fields. say that the damage wa
only apparent. The fine rains and warm sur
and the only damage done will be Temporal
- setback"