The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-10-22
A BIG RAISE In WHEAT.
Price Jumped 20 Cents in Sixty
Days Amid Intense Excite
ment' on EChange.
On Saturday the Bulls Had Things
Their Own Way and Tossed
the Price Four Cents.

Nothing like the sudden jump in
wheat during the past week or two has
been experienced in this county for
long time. Sixty days ago the wheat
market was down in the 4Os, the pro-
ducer's heart was at a much lower
notch, and there was anything but
roseate hue for the farmer and the
business man. But the jump came
the jump that was necessary on &C
count of the great shortage in the
foreign wheat crops, and since the
price was lowering around A cents
sixty days ago there has been steady
onward move, SO that to-day the in
crease in price has practically been 20
cents per bushel.
Here in Redwood Falls, where it is
claimed, probably wrongfully, that
owing to the disappearance of the
VanDusen elevator. the wheat market
has not been kept up to its standard,
the price touched the 62I cents mark
on Monday. On Saturday last it
jumped four cents and Saturday after
noon the elevators were paying 60
cents per bushel. 1t opened Monday
morning with a gain of two cents, the
elevators paying 81 cents on that
morning. Then the slump occurred,
but it only amounted to one cent,
probably due to reaction that must
temporarily follow such magnificent
gains in price.
The complaint against the local
market has been made on account of
prices east and west of here. Last
year the Redwood Falls market was
always from one to two cents more
than at Delhi, Belview and Echo.
This year prices are about the same
at all these points. At Cotton
wood the price keeps up cent, prob
ably owing to the fact that that town
happens to be on the Great Northern
road which has quick connections with
Duluth. Local wheat men say that
they are not affected by the Cotton
wood market. On account of these
complaints the business men of Red
wood Falls have held meeting and
at that meeting it was resolved to push
up the prices to where they belong.
If the elevators will not keep them
up it is proposed to buy on local ac
count, sufficient capital being pledged
tor that purpose.
Last Saturdays Journal gives some
idea as to the cause of the raise in the
price of wheat, both from a local
stand point as we'll as through spec
ial from Chicago. The Journal states
that the Minneapolis wheat market
opened with a whoop on that day. An
other advance of 2 &c over over night
is something of a novelty, but it was
realized this morning for December
wheat on the opening price. Mime
apolis lead Chicago heavily on the
opening market and closed with net
gain from yesterday OF 44c, against 3ac
gain in the Chicago market. Decem-
ber wheat closed in Minneapolis to-
day 1899 higher than year ago.
There is no denying that the local
crowd is pleased-millers, elevator
managers and wheat traders. They
are pleased because everybody, from
the farmer up through to the miller is
making money. The farmer IN the
northwest is receiving about Is to Is
cents more bushel for his wheat
than year ago; the elevator manager
has the satisfaction of paying a good
price for wheat, which always makes
him feel better, and the miller for the
first time in many months can dictate
in degree the price of his flour; and
to-day flour prices were advanced zoe
a barrel, which hardly allowed for the
strong squirt of wheat prices at the
close.