The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-25


Chicago at 76Ac. against 1890 week ago.
The price of the September option at the
close of business on Saturday last. compared
with the prices of the Saturday previous in
the market named below. were as follows:
July %. July 16
minneapolis ...................671s 81
chicago ACKNOWLEDGEMENT A 67A
Du-uth ACKNOWLEDGEMENTS M GS1s
81, Louis ..........................66 ia 65M
view 1ork ....... ................73 ~~72R
These figures show a gain at Minneapolis
OF 1sc. Chicago &c, Duluth Mc, st. Louis &c
and New York &c
The condition of growing crops. the results
OF threshing in winter wheat districts. and
the marketing as shown by the receipts at
primary points were factors which Influenced
trading from day to day The conditions in
the european markets are in The same order
OF waiting. The statisticians are busy fig
urlng out the possible worlds supply, and the
totals arrived at are interesting in that the
approximate estimate exceeds for 1898 alone
Zoo,GO0 goo blu above the average CROPS covered
by the years Of 1S93-1S97 inclusive. Beer
bohm estimates on a basis of 344 coo 600 bu
as the worlds supply in excess of the year
1897 Should these figures be realized which
is not at ali probable. the crop would be
approximately 120G00,GO0 bu in excess Of the
worlds requirements.
Inc reports from the districts in which the
harvesting of winter wheat is in progress.
ana IN winch also considerable amounts have
been threshed, indicate many features of q
disappointing nature. The grain is light in
many instances This, however. applies to
sections farther southwark. The WELD in
Michigan, SO far as threshing has advanced
is SAID not only to meet but to exceed expec
tations. While there has been consi5erabIa
marketing of winter wheat already If is
reported that there is a strong disposition man
Hest among the farmers to hold back their
gram IN anticipation of high prices after the
yield in Northwestern sections, COMPRISING
the spring wheat area, shall have been de-
determined. The spring wheat crop is re-
ported to be in a favorable condition onIv
excepting few localities. During the week
tNere was slight assistance rendered to the
Jun cement by reports of pending frost in
Northern Minnesota and Dakota accomranv
ing the recent low temperature over this sec
uon OF the country. The frost did not mate
rialize. however, but a severe hail s,orp, IN
North dakota on Thursday is believed 10
nave caused considerable damage the area
covered Delng estimated at about Is Goo acres
lhls. however, would have little Influence
upon the general situation
bfcomhalls Grain Trade Review Of July :
-'4'ates sIlie uneasiness on the part OF
merchants seeking grain. The estimate, nv
i1hsiish authorities regarding the American
crop are less favorable than a few weeks 90
me shortness OF the supply in the Enpl sI
mai kets is evident, however from tha ceIou
iatlons that are bsing made as t, the ca Lest
uenVelles OF American whaa+ In innect n
Win the SUBJECT OF forwarding supplies to the
n.arhet there is some indication in our own
Northwest of the Withholding Of wheat wber-
ever the farmer can afford to wait until the
tctais are rr,t y accur- thy determined Much
VIII depend upon the eagerness CT the Fu-c
p.ah buyers to secure wheat. Supplies from
hussia Will not be forthcoming to Liverpool
or the continental pors until late in August
or early in September. By that +ima ~
hsures VIII assume a somewhat fairly intel
ligible form
ne present price of wheat here Is ap2roxi-
Htately tnat OF the same period last "; ar r.
Tie year crop should result in reaching III,
hgures named by the European statisficians
~ Is lalr assumption that our f. rmers Will
De fortunate il they realize throughout the
marketing period. anything like the figures
now prevailing. However as an indication n,
the uncertainty which prevails e,ervwherr
there is an absence CT speculation on eitr ar
side, with chance in favcr of the tesr. TIE
argument mas been advanced that the N,It,
WESTERN FARMER is not in condition TO n
no.o ms gram from the mark,r for any con-
SIDERABLE length OF time, inasmuch as he ia
pi'oaol9 as snort OF ready cash this autumn
as ne was last, and, that, while he NAV rot
nave the paying off Of mortgages on his farm
MS stock and his chattels generally that ba
Hau iasl year, to provide for, he will require
money and ship promptly. Hence. for SOM.
time Immediately following the harvesting
PERIOD 1t would not be surprising to Wins s.
DeaVy movement of grain to the mark If and
a consequent C inc in pric s.
Inc following is from the review of tbr
Northwestern Review in its issue of july %.
rms talk On the prospective damage TO
corn by drouth turned speculation IL thar
cereal from wheat making the later eycalj
lngly dull ON the exchanges generally. Will,
wheat IS about lie lower all around than
week ago, there have been few sansa io,sI
features in the market with the decline rnita
gradual and nearly uniform in ali the difo
d a classes traded in. While the stocks
a Iah,en are low they have held up, in this
laoter part OF the season, better than ex-
pected several months ago TIE high nriee.
brought out the reserves much more ex-en
slvely than had been supposed which with
the shipments from Argentine and !nJia
contributed largely to that result. TIE 90 ID
prospects generally throughout Europe 5end
there are reserves enough Of the old crop TO
meet consumption until the new crop is cur.
Harvest is now approaching so closely that
there is left little time for any maniniJ ation
in the way Of buying up old stocks for snsc-
ulaive purposes. As conditions now eyist
throughout this country as well as Europe
Piioes are graduated very much on leeiti-
mate demands. The wheat yet remaining CT
the Letter stocks is so held that the parties
having 1T in charge are able TO maintain
prices that prevent it's absorption any fas.er
than it can be disposed of to millers. who
are buying only enough of it to keep their
IaIIs running to the extent Of their -four
sales. These, sales do not more than equal
one-haif of the milling capacity, and cen
much less than one-half in many large mill
ing districts
The Price Current. in its review ~ tho
situation in wheat says:
The harvesting period for winter wheat has
been very favorable generally, and while in
the west there is considerable, light weight
OF fair to good milling grades. Threshine
operations are progressing about as usual
and the tenor OF reports to yield is about
as previously noted disclosing much of dis
appointment as compared with the early cal