The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-06
FIGURES ON WHEAT
The Commercial West Shows Some
Interesting Crop-Year {,
Comparisons. ];
Last Year Was Record Breaker
in the Matter of Receipts
and Grinding.

The Commercial West prints compila-
ton showing comparisons for the crop
year for period Of years. The showings
are very favorable. The Commercial
West says that while the wheat crop Of
the northwest for 1901 was not large
one, the receipts at Minneapolis for the
crop year ending July 81 exceeded all
previous years but 1898, which
markable year in wheat production. The
accompanying table shows the receipts of
the different grains at Minneapolis, with
comparisons.
Receipts o. wheat in Minneapolis on the
crop year were 81, 674, 900 bushels. of which
the mills ground approximately 1000, 900
bushels. This is the greatest amount Of
wheat ground In Minneapolis.
The crop was good average one In
quality, with nothing to especially dis
tinguish it from other good crops.
Low price point in Minneapolis, in the
options, was In December wheat, on Oct
8 and 4. On those days the price touched
GO. Through September it ranged from
87c to CSC. on the 18th advancing to 691sc,
but not holding. From sc, in October,
the price advanced to 71kc on Nov 6,
then declined to 69Q70o.
May wheat started at TIC the latter part
of November and advanced steadily to
500, Dec 9, broke to 751Ac, ranged up to
5000 Dec. to 10, and then began Its long,
steady decline, which did not stop until
touched. It then advanced and the option
went out at TAG.
July wheat started at TWO on April l,
declined 1c and ranged up to TIC and fell
off to 76c at the close Of April Then be-
gan a six weeks steady decline, Mime
apolis July reaching 72c June s.
Owing to strong demand for cash
wheat. Minneapolis was stronger than
Chicago, and from May led that market.
the difference steadily increasing through
June and July. A corner in Minneapolis
carried that market 9@4c over Chicago the
last Of July. On the last day Of the month
Chicago broke from 76o to 691ac. going out
at 69&c. Minneapolis broke from 1910
to 75c, but recovered and closed the month
at 77hc. The high point was S0&c, on
July Is and 10. On July 81. No. 2 north
err wheat in Minneapolis sold TIC over
September.
July wheat was at a premium over Sep
tember. September over December. and
cash wheat at a premium over every
thing,
September wheat in Minneapolis started
a& $3.50 on May 81. dropped to $50, ranged
between 50 to 7oc, and then, on wet
weather in the southwest, advanced to
1880 ON July 1. Then it declined steadily
until e41sc was reached, on Aug. II. The
decline was on continuous fine weather in
the northwest.
Minneapolis December wheat advanced
from 500 June 8, to 1880 July 1, and then
declined to So 80 Aug. II
The features Of greatest Importance
have been the small movement Of wheat
throughout the summer, steadily decreas-
ing stocks, and the heavy premium paid
by the mills for cash wheat.
The middle Of June No. I northern sold
at II Ole over July and steadily advanced
through July and ranged high all through
August. Old No. l northern in August
sold at 10c over September, and new. at
7kWSc over during the third week. Some
of the mills closed down owing to the
scarcity of wheat and the excessive prem
iu1n.
The new crop year begins with almost
no wheat in Minneapolis terminal houses
in country elevators.
In coarse grains, 1t has been a good
year for barley. rye and flaxseed Owing
to manipulated market in corn and oats
in Chicago. the local market has been un-
satisfactory. Receipts Of faxseed, barley
and rye, were the largest they have ever
been in Minneapolis. More daxseed was
crushed here than ever before.
Minneapolis has made a, substantial gain
as coarse grain market. Receipts for
the year follow: