The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1888-10-05
A CYCLONE IN FLOUR.

The wheat market in this city has
been going steadily up for number of
weeks past and is to- day quoted at the
highest point yet reached. There is
great scarcity of milling wheat and mil
lers are buying up all they can get,
which does not compare in amount
with former years. Where miller con-
tracted last year for 100000 bushels he
can only get 10000 or $1,000 bushels this
year. This is the case with r. d. Hub
bard & Co.'s mill.
The local grain dealers are of the
opinion that wheat is much scarcer than
has been generally supposed. One of
them stated to-day that he did not be-
lieve that there would be bushel for
export TO Europe during the coming
year. He also said, and this was coin
cided with by another, that last years
crop had been overastimated and that
little of it was left. The most of this
years crop that has so far come in is
graded at No. 3 Northern, which sells at
II cents less than No. Northern.
Flour has also kept pace with wheat
In its upward course and has advanced
20 cts. hundred every week or 30.
The miIlers here believe that the price
will continue to advance, though they
do not anticipate that it will reach $40
barrel. Orders are coming in too fast to
be filled and many are turned away, al
though the mill is run at its fullest ca
pacity.
The farmer who has a large supply of
wheat on hand is in luck. 1t is believed
that wheat will command high price
for several years to come and wheat
raisers should be careful to save the
very best grain they have for seed.
Some are reported to be selling the best
and keeping the poor grades for seed.
No more near-slghted policy could be
pursued, for reasons SO apparent as to
need no explanation. The dealers be-
lieve that the advance is not caused by
mere speculation but is on firm basis
and predict that much higher prices
will be paid during the winter and
spring.
A MINNEAPOLIS VIEW.
Minneapolis Journal: There has not
been such bull movement in flour for
years as there is at present. Prices are
going skywar at a rate that Is amazing
the dealers and causing the millers to
hug themselves with glee. Milling has
not been the most profitable business in
the world of late years. Last year some
of the fiour-makers had profits to divide
put tnCIC WcIc Ouiy Onc TWO uTmS
that made anv considerable amount of
money on account of the low prices.
The flour trade Is very active now.
Every mill in the city is grinding to its
utmost capacity and putting out all the
Hour it can. The mlllers have advanced
their prices regularly every day and the
faster they advance the more their GUS
toners want to buy. Eastern -four deal
ers did not take much stock in the adj
vance when it first commenced, and,
consequently, let their stocks run down
to minimum. Now they are compell-
ed to buy, and they are very anxious to
have the flour shipped at once, showing
that they are buying for immediate sup
ply and not for future wants. The for
eign market is just beginning to respond
to the advance. The foreign dealers
have held off later than the Fasteners
and consequently are worse off.
The advance started about Aug. LIST.
Patents were then worth %.l5@$4.4O a
BARREL At first there was stitfening in
prices and slight advance. Now the
millers are advancing prices at the rate
of 10 cents dry. They have been do
ing this for two weeks and will continue
1t for some time to come. Patents are
now selling in Minneapolis for $3.50
40 a barrel, a clear advance of So. All
the flour men say they would no be sur
prised if flour sold for $40 barrel be-
fore the advance stops. The highest
price it has ever touched IN Minneapo-
lis is $l2.