The Minneapolis journal., 1903-03-20
Watching the Colder Weather Over
Winter Wheat With All
Interest.
Argentine Ships 3,350,00O Bu. or
Almost Three Times the
Estimate.
The Market Halts Between This
Bearish Item and Strength
ening Cold.

Minneapolis Chamber of Commerce, March 90
The weather over the winter wheat area was
OF last night The range from the Minnesota line
south was from to ~ degrees above zero, put
there extremely low ranges at the
danger points. Kansas had reports OF 20 below
at points where there was opportunity for
freezing scare. everything being wet as the
5 result of the recent rains. Valentine, NeD,
sent the most important dispatch Of the early
news, showing drop in the Thermometer to
above. The situation, on the whole while not
make the bears pause, and there was little wheat
for sale. Still the market weak and lower,
May opening at 1sAe, this on disapp9intment sli1n
trying to anticipate the effect of the Argentine
movement illustrated On Tuesday, Broom
hall, from his Liverpool point of view, told the
grain trade that Argentine shipments would
probably be light this week. putting his estimate
at 100000 bu. Later a Chicago grain house.
the shipment of about 100000 bu. But when,
the regular figures came in this morning they
showed that Argentine had shipped 3,So2O 900 bu
this being 2,112, 600 bu more than in the previous
week, and 2,O64, 900 bu more than in the cor
responding week Of last year. This was very
bearish and would likely have brought sharp de-
cline but for the counter influence of the colder
weather the winter wheat.
Liverpool closed I'D lower. Broomhall at
tributed the drop principally to the heavier Ar
gentine shipments and said that hereafter his
Argentine agent will not try to estimate the
movement Of the week until Thursday.
I Minneapolis deceived 237 cars, against 119
last year. and Duluth 21, against 81: Primary
receipts were 400,O 900 bu against 474,00O last
year, and shipments 17sOoO bu, against 1872, 900
bu. Wheat and flour clearances equaled 311,-
900 bu.
The seaboard wired early that there was good
inquiry for wheat to go out, and the promise Of
q good business later. Flour sales were said
to be somewhat larger and this was help to
some extent. r" ~.
The Modern Miller was bearish, although not
especially So The Miller says the latest returns
indicate change in the condition of winter
wheat the outlook in general being excellent.
At the meeting of the Southwestern Missouri
Millers' Association, held Thursday, at Spring
field, the concensus Of opinion was that the con-
dition Of the crop in the territory from whence
these millers draw their supplies Is 1O5, as com
pared with last year. high average condition
is also reported from elsewhere. There is no
confirmation of damage by bugs in Texas or by
the fly in other sections. The only possible
menace to the plant Is the present freezing
weather in the west and southwest. Stocks OF
wheat in country elevators are the smallest OF
the season, farmers are unable to make de-
liveres on account of bad roads.
Wheat and -four cleararces for the week were
2,306, 600 bushels. against 1857 900 last week
and 4, ,326,O0O last year.
The market closed firm at 1875 0073Mc for May
and 74@74hc for July.
The cash market active and in good tone
all through. No. l northern sold at to zee
over and No. northern at l to lac over Millers
bought everything the tables that was avail
able for milling use. Low grades also sold
little better.