The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-01-07
W' v !! | "A. I SUPPL |: 7 Low.
The Estimate Of a. /. Valentine,
Representative Of Armour in
the Chicago Pit.
He Looks for Much Higher Prices
Empty Bins the Rule,
He Says.

AhoAAte 81 dAA 5tiduerS In the country, who
represents the Armour interests in the
Chicago wheat pit, has given the views Of
his house on wheat in an article prepared
| Tor the New York Times. The northwest
ern supply situation enters into the arti-
Gle SO extensively as so make it interest
ing TO minneapolis grain men. Mr.. Val
entlne says the crop OF the northwest III
l9O2 was much smaller than generally sup
posed Stocks are light, export require
ments large, and eventually Great Brit
ain may draw directly upon the north
west for supplies 5s .g
Although the crop of winter wheat for
1917 was 2 compar lively large one, the
holes that had to be filled were numerous, =
says Mr.. Valentine. t"The balance went
into millers' empty bins. There was some
good spring wheat in North Dakota and
northern Minnesota, also in South Dakota,
put as q rule IN: South Dakota, more espe-
clally, there was Considerable poor wheat,
ana IN southernS Minnesota it was almost
all of poor quality $500: .,
a, During the Whole season so far the
mills at MINNEAPOLIS have: been paying
cash premiums in order to get wheat
enough to fill the: milling demand This
.Wheat IS generally drawn from North and
South Dakota, and northern Minnesota
year, and the millers at that point gener-
any depend upon southern Minnesota for
the1r supply, for the balance of the sea-
son. Now, however theyacome on a diff
hculty, not being able to- secure any good
wheat from southern Minnesota, SO that
tney. naturally haFe5Sto draw more than
usual from the territory tributary to Du-
luth. S. <s$ - - 1900 ~
= Exporters Competitors. . .->
:. - Exporters have been strong -co,nneti-
TORS OF MINNEAPOLIS for the better class
OF wheat, especially Duluth and tChicapo
No; 1iortheIn 1t has simply been a. fight
rignt up to the close Of lake navigation
~ ~, the sseaboard in competition with
ne I'm, INNING interests in this country
me total crop Of the northwest has
proved less than expected. Other snr;ng
wheat states, like Iowa and Nebraska
''id We ALSO SHOWN poor quality, lust the
5sa1le as the southwestern states did in
WINTER Wheats. The demand for Pa ci6c
coast wheat has been something extraor-
9lnary this year from the orient; Austria
ia, South Africa and China :ha We all hean
buyers from. this section. and at mich
higher prices than have. generally been
prevalent as compared with former years.
SO that Great Britain. which as a, rule
eets the greater proportion Of the ship
ments from the Pacific coast. has prac
tlcaily received none from the country
TO show that Great Britain must have her
supplies from on either Manitoba or the
"The seaboard has gone into winter
quarters with a comparatively small stock
or Wheat on hand-too small to meet the
aemand that will likely be placed on her.
during the next four months, both from
Great Britain and the continent. :
r.. ..... q. Canadian Mills Demand. =
IN regard to. Manitoba wheat, there
mas been an unusual demand this wear.
from Canadian mills. The CROP in this
case also has not been as large as it
was nrst made, out ITO be, so that thew
now nave probably not. more than H. 1000. ;
900 to 900, 900 bushels more to snare for
export. The visible supply Of wheat in
ent than it was last year, and still smaller
than the year previous. It looks to us
that these small stocks would be erea tly
reduced throughout the ensuing spring
months. "a. ~ ,<s.,-. e
=, The invisible supply now in, country
elevators i Is even smaller than the supply
at terminal elevators. ..-s- -
-. european stocks are also in need of be-
Ing replenfshed. The continent >. is >es-
peclally In want OF good wheat. This
would Indicate within the next few
months greater demand. upon; our sea-
board stocks than we can supply, the
Danubian and Russian ports having. been
closed up earlier on account. Of, ice than
1888 SSoA' Although the Russian
crop OF wheat was reported as larger this
year Sthan usual, the standing crop Of
winter wheat is; reported as unsatis-
factory. $500 = --.~. :.
Europe will require lot of our wheat
u un wv, the argentine crop, which is now
being harvested commences to move.
everywhere throughout the United
states there is the same tale of empty
olns ana grain. men generally carving
very llght stocks. The, premiums paid
1or the cash articles show the demand as
also too small amount of money loaned on
wheat during the season. With condi
lions as they are and as they are likely to
continue, 1t certainly looks as If we Womb
nave much larger prices for wheat before
spring; l=4.:.. = : -, = ~ ~ e
!. ITO recapitulate-empty warehouses
nave been the rule on all kinds of grain
since the harvest commenced. look for
very much higher prices for wheat. .es-
pec1ally good grades, before spring. no
lower prices for corn than those at pres
ent existing. To a certain extent the
price Of wheat will be regulated Nv TIA
prospect for the growing winter Wheat
crop. Inese prospects are good l1p to the
present time. but the growth is foo
y xurlant, owing to the mild weather we !
nave mad this winter, so that we are liable
20 nave damage scares some time du,.inp,: |
the rest of the winter. especially in the
event OF severely cold weather, should the
pant not be protected by snow -
STATE ARBITRATION