The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-06-20

speculation is rather inactive owing to the
uncertainty as to the outcome of the crop
The bulls and the bears are alike ha1tina
between two opinions. 1t is not reasonable TO
believe in the light of figures that have been
forthcoming that the worlds shortage is
likely to approach that of last year.
Beerbohm's London List Of June saws
in regard to market conditions abroad:
With enormous shipments in Eurone al
though mainly destined for the continent.
ana with Germany and Antwerp reselling to
E.ngland some of the foreign wheat which
they had previously bought, the market has
not been able to Withstand the effects of ex-
tTaordinsry favorable crop estimates in
France and in America; something approach
ing decentralization has. in fact, been show,
this week, with Chicago zoe down on the
week for June and zoe for July Values Of
actual wheat in this country have not, of
course, declined in the same proportion as
in America, because in the latter country
prices were unduly inflated, but the decline
seems TO have frightened buyers entirely out
OF the market. There is, of course no radical
change In the position statisticaly speaking.
except that with everything gong well vii,
the growing crop there will be less difficulty
than had been apprehended in making both
ends meet before the new crop becomes
available The sentiment of the trade Is
hugely affected by the possibility of big
probably be difficult for the market to re-
cover until the actual want of wheat be felt
in this country. which would seem to be I'M
avoidable in July, and in AUGUST if the crop
be delayed.
The Northwestern Miller, in It's issue of
June II says:
Foreign markets continue weak and the
demand is no5 urgent in spite OF the light
supplies in sight. The hand-to-hand policy
of foreign buyers of actual wheat sill con-
tinues, with indications tPat it will last until
tie new crops OF different countries are har-
vested; when, indications show. requirements
Wi no an, hcraJ -
sible damage to growing crops appears to be
the principal thing in sight at present for in
yestors to lock forward to. Reports from
France are not glowing as they were
week CT SC ago, and the heavy rains In the
larger wheat-growiig states in this country
have given rise to fears of a wet harvest
but as yet It is only imaginary.
The worlds wheat shipments continue on
an enormous sca-e Last week thew
amounted to 10 1856 Geo bu. against ssme s. COS.
Gee year ago. India is shipping freely. fur
nishiug last week 2.S16,0G9 bu an increase
Of about 100000 over the week previous A
year ago that country was shipping praeti-
cally nothing. Russia and Argentina are also
shipping literally and so is the U,iitel
States. These large shipments and the near
approach of harvest naturally Offset the
stronger feeling that the large decrease in
the visible supply would otherwise cause
The wheat movement in the Northwest is
small. Las- week the receipts in Aiinueapo-
lis were 42e,3sG bu. against eco year
ago. Duluth received ,473 bu against s s.
l61 last year. The total receipts ct spring
wheat markets for the week were t. Cos. SIS bu
against 1Gl5 2f1 iast year. The winter whe1f
movement is about three times larger than il
Prospects in the Northwest fer LARGO
wed continue flatterirg. Some comola: MS
are heard OF too much rain. but wi h 40 a
weather from now en- seed yie.d will re-
suit In the winter wheat states reports ara
rife Of damage caused b. severe rains VIII,
some tax Of rust ard chiueh bugs Conai-
tions appear better than usual at this season.