The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-11

Minneapolis Chamber Of Commerce, Sept. IT,
The government report that came out late yes
terday was the principal influence in wheat to-
+ day. The market hardened on the spring wheat
showing Of ss.4 for the condition when har-
vested This when compared with $3.50 a month
nd s near aga to make
The decline represents the effect Of the bad
storm that swept over Big Stone, Traverse
and other Minnesota counties before the har-
vest and the hot weather that damaged the
grain In some parts of North Dakota. Thus the
average condition in South Dakota at harvest
was Ss, In North Dakota 81, and In Minnesota
70. It looked tho the northwest might not
after all have so large crop owing to the
late damage. Buying for new account began
the shorts took fright and soon a strong mar
ket all around.
In the other circles covered by the gov
eminent report corn was taken as bearish. The
condition, Of corn on Sept. was so.2, as com
1905; s4.e the corresponding date in 1904, and
ten.year average of s1.1O. Oats reflected the
comparative shortage already known. The aver.
age condition Of the oats crop when harvested
was $40, against s2S last month, 90.9 re-
ported Sept. /, 1908; $3.50 at the correspond
Ing date in 1904 and ten-year average Of
s1.9. Nothing of special Significance appeared
In the other figures. The average condition Of
barley when harvested se.4 against 90.8
Aug. l. 1906 s7.s reported Sept. 1, 1905;
STA at the corresponding date in 1904, and
ton Of rye when harvested was 90.5, against
oO.s reported Sept. /, 1905: $3.50 reported Sept
1, 1904. and ten-year average Of $685.
Traders looked next at the spring wheat move
, ment which was bearish. Minneapolis with a
decrease of 100000 blu in elevator stocks, in
three days, and receipts of BOT against
Duluth had Ats against 2s7 and Chicago
100 against 81 Putting the three markets to-
gether made ss2 against 1872 or an even hundred
more than last year. Winnipegs two days
brought her 543 cars against 115 and the four
markets made 1,425 against so7, an ex-
cess of 52s With the weather still good and
favorable forecast for tonight and tomorrow
conditions favor a continued free movement Of
new wheat to. market. D..
In discussing the government report Poehler
says This country has practically $50, 100000
bu wheat for export. The question Of price will
depend largely on the willingness or unwilling
ness of the American farmer to hold enough
wheat off the market. It will also depend on
to invest in December May wheat also upon
the size of the next Argentina crop, as we'll
later on the acreage and condition Of the
winter wheat crop. Just at present continued
lack Of Investment buying and the first rush
Of spring wheat. that has just started may
cause further very material decline, but that
the lower price, and later on falling of in
farmers deliveries, will cause a change of
sentiment and investment buying is without
doubt. It would in the end be sorrowful
tale II this rich and powerful country should
allow the wheat crop to be sold at panic
4 prices just because we have fair exportable
surplus that is not being sold rapidly to
foreign consumers
Primary receipts, 1852, 900 blu against $685.
900; clearances, 100000 blu.
Kansas City received 224,ooo bu compared
with 113 900, st. Louis 81, 900 against "a, 900.
Liverpool closed I'd lower.
st. Louis reported flour sales to Holland
and cash wheat lie higher. Kansas City said
good demand, 1tc to nc higher.
The seaboard reported loads wheat. load
corn and $4,000 bu oats taken, a., j.
Broomhall cabled: Liverpool wheat steady
at the opening, with values I'd higher, in
fuenced by the bulish construction placed upon
the government report. Later, however, pres
sure developed the poor spot demand and
decline in -four prices.
Corn steady at opening with values unchanged.
There steadier undertone due to the
hrmness Of American offerings. Later some
easiness developed in sympathy with wheat.
The forecast: Illinois-Cooler and generally
fair tonight and Wednesday, Indiana-Fair to-
night, cooler in north. Lower Michigan-Fair
in south, showers in north; fair and cooler
Wednesday. Wisconsin-Fair. cooler. Minnesota
Fair. cooler tonight Wednesday fair. cooler
in east. Iowa-Fair, cooler tonight; wednes-
day fair cooler in east and south. Missouri
Fair tonight, cooler in north portion; Wednesday
fair. Kansas-Fair in east. showers west to-
night; cooler Wednesday. fair. Nebraska-Fair
cooler tonight, possibly light frost in north and
west; cooler and fair Wednesday. South Dakota
Fair. cooler, possibly light frost. North Da-
kota-Fair tonight with frost, cooler.