The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-03-10
Traders Fear Bearish Government
Report and Many Weak
Holders Let Go.
STILL DRY IN THE SOUTHWEST
Hesitation at the ClOse-Eyeryone
Must Interpret the Report
for Himself.

Minneapolis Chamber of Commerce, March
10.-Wheat had a setback to start the week,
and, after selling to 7o1sc on firm and active
opening broke to TAX @74ssc. The nervous
ness over the possible effect of the govern
n,ent report this afternoon was increased,
and on liquidation caused by fears of it be-
ing of bearish tenor, the market broke. Later
there was recovery to 7419c. where the mar
ket held. Dry weather reports were plentiful
Kansas City had rain. but elsewhere in the
southwest there were none worth noting. The
predictions are for cloudy weather. Snow
was out with a bullish report. The situation,
he says warrants grave apprehension over
considerable part OF the important territory.
There has been a serious deficiency OF moist
ure ever sinceNseeding. The worst sectons
Snow locates in Texas. Arkansas and OKLA
homa. Probably there was never a govern
ment report about which there were so many
diverse views as the one due this AFTERNOON
Formerly the trade knew the government estl-
mate OF the total wheat crop. and when the
report of March 10 gave the percentage still
remaining In farmers hands. any one could
Inquire 1t out and modify 1t to suit his own
view to the reliability of the governments
total estimate. But the report OF Dec. lo last
did not give an estimate in bushels as the
department desires to make comparisons with
! the census data, and hence the government
has not vet arrived at a final conclusion as
to the total yield of 1901. Private estimators
have figured out The Price Current con-
cludes that there should be about 2S per cent
left in farmers hands. which would mean
10, ,0C0 Blu more than a year ago, OF 2o,ooo, :
600 blu less than a year ago, according 10
whether the government estimate Will event.
ually SHOW the maximum expectation OF 1lo,-
600 bu, or the minimum expectation OF
$50, 900 600 bu. Lyle of the New York Produce
Exchange assumes the government figures on
yield to be 100000 blu. and ON TINS basis
figures out 1913, 900, 600 blu yet remaining on the
farms. Last year the farmers reserves March
l were 12S, 100000 bu; in 1900, 1580O0,00O, and
in 1892 1913. 200. 900 bu. The estimate on corn
is awaited with even greater interest than
that on wheat. 49,.
Primary receipts were 449, 900 blu, against
AIT 900 last year, and shipments 166, 900 blu,
against 241.OO0 blu. Wheat and -four clear
ances, 49,, 900 blu. Minneapolis received 321
cars, against 53S last year, and Duluth had
124 against 81. ~.
Liverpool closed 7s@5sd higher.
Worlds shipments were S,271 900 bu, against
6,O5S0O0 last week and 7,742.O0O a year ago.
America shipped 4,O95,00O blu, Russia 1,104, 900
blu, the Danube $4,000 Argentine 1,136 600,
India u. 900 and Argentine l. 10000 bu. The
quantity on passage, at A., 6S8, 600 blu, shows an
increase of 900 blu. The visible supply
decreased by 93S bu, making the present total
So 155, 900 bu.
Cash wheat was in good sale all Through.
No. northern averaged a4@1c over May. No.
2 northern sold at 1ac under for good lots,
and 1H2c under was obtainable for good No. 3.
The low grades sold well. There was more
inquiry for good No. l northern and No.
northern to arrive. -r......
The weakness was felt again at the close.
May closed at 74@74lsc; July, 751s47574c.
Chicago May closed at TIC.