The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-09

The general situation as regards the wheat
market presents absolutely no feature OF in
terest. The tone of prices has been mod
erately firm. though recessions in prices are
to be noted. as above shown. The record
in the volume Of exports Is almost unprece-
dented; but at the same time prices have not
held up 30 well az they might ordinarily
have been expected to do.
There is no stimulating cause apparent.
The people abroad are taking just what they
want. and only so much as they want for
thedr immediate needs and no more. There
is nothing OF reliable nature regarding
Argentine. The old figure Of last year as to
the volume Of export, namely, about 40, 000,-
600 blu, has been resurrected, and 10000 900
Blu have been added by way of variety; but
that is all. The crop will not be harvested
until late this month. The news from that
locality always plays its little part.
Heavy SHOWS are upon the ground through
out nearly the entire winter wheat section
Of this country; and this condition Is re-
garded favorable SO far the new crop
Is concerned. Meanwhile the stocks in Eu-
rope are receiving few important additions,
although the fact has been generally ex-
plotted that the American supply would be-
gin to show itself under the heavy importa-
lions Of December and January. But the
following review by Broomhall, so recently as
Dec. 20, does not give much in the way Of
assurance that stocks are being replenished.
This Is what the Liverpool Corn Trade
News, of the date referred to, saysi
Immediately subsequent to our last review
the wheat trade commenced to emerge from
its prolonged period of dullness. Tho daily
reitefation Of adverse crop reports from Ar
gentine at length had its effect; the most
skepticaEy disposed were compelled to adj
NIT that there must be some fire whence so
much smoke proceeded, and now 1t Is pretty
generally agreed that the much-tried farmer
of the River Plate is about to score another
failure as far as his wheat crop is concerned,
the fourth In succession. Today's estimate
Of the exportable surplus Is placed at the
same level as last season. viz. 1000, 900 quar-
ters. This estimateTs submitted by the
same authorities who, for the last three sea-
sons. have proved themselves good prophets
The newspapers and news agencies of Ar
gentina, and, indeed, OF every new country
seem SO bent upon booming the interests
OF their colony or settlement that they seem
incapable of giving a dispassiona.e account
OF the results Of harvest or any event that
concerns the present or future state Of their
adopted country. Without an exception the
crop forecasts of Argentine. Canada, Austria
lasia and Chill are always couched in. an
optimistic vein. Every season our rejArds
show that the final returns of production are
always considerably below the ante-harvest
forecasts
1t is quite pleasing to receive 20 plain a
statement from SO prominent a journal. The
whole situation, SO far as Argentina Ia con-
cerned. Is one of the merest speculation. It
is unfortunate however. that our market
should be obliged to drift along under so
unreliable influences.
COMPARATIVE WHEAT RECEIPTS.
Receipts OF wheat at winter and sprine
grain markets for twenty-seyen weeks. july