The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-30
And Hand Out Some Very Depress-
ing Statistics on the Wheat
Situation.
But the Market Fails to Smash and
Closes Only a Fraction Under
Yesterday.
A Waiting Market with the Ten
dency Uncertain and General
Trade Dull. "

Minneapolis Chamber Of Commerce, Oct
30.--The bears in wheat opened fresh
barrel of figures this morning and a lot
of depressing statistics ran out. Argen-
tine shipped $4,000 bushels Of wheat this
week against 344. 600 last week and moth
ing a year ago. Since JAN L Argentine
has shipped 60,200,000 bushels wheat
against 1S,S4S, 900 last year, and So, 1884,
600 bushels corn against 39,041 900. last
year. Up at Port Arthur and Fort Will
liam receipts to the first of this month
are found to total 1852, 1858 bushels against
2,293266 last year. which Is taken to
mean that there is a lot Of wheat back
that will probably come with a rush soon,
especially receipts at Winnipeg are
increasing and running close to 400 cars
day. Argentine wheat is doing well on
an increased acreage, and Australia Is
now estimated to stand good for 80, 000, 900
bushels. Last year Argentine raised about
1900, 900 bushels and 4s 400, OOo bushels is
about the best she has ever done. Sixty
millions would be big yield for Aus
trala and if realized would preclude the
possibility Of any urgent demand from
that quarter for Pacific coast wheat, such
was seen last year In the three prin-
cipal spring wheat markets receipts were
GSi cars against 9G5. a gain of 20 as
against average decreases in previous
showings, and receipts in the country are
said to be increasing and a big rush of
wheat to Minneapolis, the same big rush
that has been heard about for a long
time, is impending. Nor was this all the
bear news by any means.
AS to Australians 10000, 900 bushels
this is neither impossible nor entirely i'm
probable. But Australia harvests wheat
along in January and estimates at this
date are too early for any reliability. AS
to the free country movement and prob
ability of big rush. this may come Of
course, but when 527 country elevators
get only 10000 bushels wheat as was the
case to-day, it does not look much like
a flood Of wheat in the near future, and
it does look as tho country elevator
stocks on Nov. 1 are pretty certain to be
we'll under the quantity Of a year ago.
Minneapolis had 523 cars against 547
Duluth 81 against 314 and Chicago 90
against "a. Primary receipts were 1907,
600 bushels against I'LL 900, and ship
ments 493, 900 against 415,000. Wheat and
flour clearanceS 1874 900 bushels.
The Modern Miller says: Rains are
needed east of the Mississippi river but
as yet there are no complaints arising
from lack of moisture. The general con-
ditiOn Of the winter wheat crop Is salts
factory. Seeding is not yet finished but
prospects are for an acreage fully as
large if not larger than last year.
For the week the exports We're 1904, 900
bushels against 5,99S,0OD bushels last
year.
The market eased off but was firm again
for the day. December closed at 1891 a
1870 and May at 1880.
The cash market active at 500
S2l4c as the average for No. l northern
and No. > northern selling at 1890 for
the bulk '~<.'.