The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-28


These figures show decline of &c at Min
neapolis. 11sc at Chicago. Ac at Duluth, 1c
at St. Louis, and &c in New York.
The whole story a to conditions for mar
keting wheat is told in the Introductory
lines. The farmers have certainly enjoyed
the benefit of good weather for marketing
their grain at country elevators, If they
were disposed to avail themselves of their
chances for good weather deliveries. The
blizzard Of last Monday will undoubtedly
manifest its influences in the receipts re-
corded at the opening of this morning 5
market. The weather conditions will be sup
plemented by the Stacking up of contribu-
lions on account of the Thanksgiving holl-
day.
The export demand indicates nothing alb
normal. The foreign supply to the European
markets continues more particularly to the
contributions of Russia to the visible supply
abroad. The Argentine crop is still a quan-
tity upon which very little reliance, when 1t
comes to the measuring of figures can be
based. There has been very little specula-
tive Interest in wheat on either side pend
ing the prevalence of the storm and the ad-
vent of the holiday season. OF course the
prevalence Of heavy snow storms in the
Northwest must inevitably have an effect
In the way of receipts. The snowfall during
the past week has amounted to about twelve
much service in reckoning the loss Of deIiy-
cries, inasmuch the severe winds and big
drifts in prairie sections cannot fail to have
their influence upon the record Of wheat de-
lvered.
So far as the inspection Of wheat is con-
cerned, conditions not highly favorable.
The grading, 1t is said, does not show very
iaVorably, and there is much discomfort man,
ifest among the farmers as to their sales
and the results thereof
Cash wheat in Minneapolis has not mea-
sured up very well with respect to price
as compared with Duluth. Neither has De-
cember wheat at Minneapolis maintained its
earlier predominance as far as prices ara
concerned. This is taken 10 mean that Du
10th is pretty well supplied with everything
pertaining to the necessities for meeting the
demand on this option.
Chicago has been rather inanimate ouan-
tity all through the past week 20 far as the
wheat market is concerned The dealers
down there do not take much stock. evil
IDENTITY. in all the talk of a short supply. The
DUH element is not strong and the bear
element continues to be exceedingly timid.
Taken as whole. the market presents no
encouragement in the direction of very act
I've trading on the one side or the other
during the coming months. Everybody knows
that the crop Of the United States has been
beyond all precedent enormously large and
until demand shall appear from the other
side for our surplus a bull market Of anv
pretensions to volume hardly be expect
ed.
The Northwestern Miller in its wheat re-
view says:
the Northwest for marketing wheat were the
most favorable, and the deliveries by farmers
were heavy. Despite the immense shipments
10 minneapolis and Duluth the aggregate of
which for two weeks is 13, SEQ coo bu there
mas been a large accumulation at country
elevators. This accumulation is due to the
Iack or cars to get the grain to terminal mar
kets. IN the most northern territory where
the Great Northern road is depended uDon
elevator men have not been able to obtain
nuch over % per cent of many oars as
needed. Further south the conditions in this
respect are better. In the whole Northwest
however, the car supply has probably been
not TO exceed 90 per cent Of the fun require
ments. This means that about half the wheat
delivered IN the country is held back from
the lack OF cars Estimating from the re-
ceipts at Minneapolis and Duluth. the Quanti-
" so piled up in two weeks would be around
100000 blu. 1t is far from the desire of the
elevator companies to pile up wheat. there
Is no carrying charge and they have to paw
interest and insurance 10 hold It,
notwithstanding the heavy receipts at the
two northwestern terminals there Is no ma
terlal increase in stocks. With the aggregate
receipts Of nearly 14,O000 600 bu in two weeks
there has been gain in stocks of less than
l0oO,Oc0 bu This well illustrates the rapid
appears to be a considerable quantity OF wheat
in Southern Minnesota and Northern Iowa
naturally tributary to this market. which Is
being drawn around us by reason OF condi-
tons existing in Chicago. Cut freight rates
are thought TO play an important part in the
matter. One concern estimates that 500 an
bu of wheat. which in other years has come
to 1t here. has been diverted to Chicago
In delivering wheat freely. as they have in
the past three weeks, farmers appear 10 have
sold good deal OF it. though 1t is hard mat
ter TO say what per cent as the experiences
OF different elevator managers vary Today
(Monday) a bowling blizzard has been in
progress, and covering pretty much the en-
tire Northwest, It is expected not only to
temporarily cut off farmers deliveries, but
TO possibly seriously interfere with railroad
traffic and curtail wheat receipts for a few
days.
The absence of speculative interest is a no.
table feature Of grain markets at the present
time, and many close observers believe that
as long as this condition exists, no heavy ap-
probation in prices can be hoped for. How
look for higher prices. 1t is very apparent
that the heavy losses sustained through the
Letter deal deprived spectators not only OF
their money, but of their nerve as we'll and
they have no spirit TO enter the markets
again.
COMPARATIVE WHEAT RECEIPTS.
Receipts of wheat at winter and spring grain
markets for twenty-one weeks, July 10 Nov.
o. with comparisons, in bushels complied bv
the Cincinnati Price Current: