The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-24
Statistics of Shipments and the
Worlds Supply Had Weaken
ing Effect.
Eastern Traders Inclined to Over
look the Heavy Pacific Coast
Exports.
Country Millers Paying 1c Over May
for No. 2 Northern in Min
neapolis.

Minneapolis Chamber of Commerce, Feb. "a
Wheat showed important change at the
opening this morning. notwithstanding the gen
cral expectation that the opening after the dou-
BILE holiday would bring a turn of activity aud
move the market. Yet tue first hour passed with
the market In the same old rut. and May wheat
firm but In the narrow range between 1880 and
ICIs gre. Liverpool WAS up "a to I'd ct the
close and up q M7sd corn. this la tier
item lending strength to corn here and so helping
wheat.
Worlds shipments were S.177 900 bu against
7.c56.GO0 last week and 6.SSl coo a year ngo.
America sent. out 2.113.0Oo bu. falling behind
Russia With her 2.952ooo hu. The Danube ports
shipped 100000 bu Argentine I. I2S.O0n hl and
India pa 600 bu. TIL quantity Of breadstnffs
sfoat for Europe figures up 20. IA 900 bu. an
increase for the week Of l,l64. 900 hu" The
worlds shipments were taken as beprlsh. In
looking back to last year 1t is found that at that
time America shipped $500. coo bu. almost
1.uO0.utm Lu more than last week. Russia. on
the contrary, sent out this week 2.952,oO btu
against 1.54t 900. the Danube sent :a>4 900 bu
against 1ot 900 last year and Argentine 1.I2S
900 against GSt.o0o bu. Jumping this togerher
1t shows that while America fell off the principal
competing countries shipped 2.652.O0O BIZ more
than in the corresponding week last year. Nat
nra1ly there not much in this to encourage
the exporters and with no increased export
inquiry reported through the early part of the
session, the seaboard market were quiet and
nnresporsive to interior bull sentiment. Yet
these figures while they strike the traders who
take the eastern export trade their principal
guide as bcarish, are not so bearish as they
would appear. They do not include shipments
t" Australia. The eastern seaboard trade is in
clined TO look upon anything west of the Rocky
mountains .unimpOrant. But the interior
trad" believes that tie unusual Australian de-
nrand for wheat and flour that Is a feature this
year will develop Tito price influencing factor
Of the first magnitude later on.
At primary points receipts were $4,000 bl
against 1.6lS.O0, bu last year. and shipments
pt.0Oo hi against J:;4 900 bu. Minneapolis had
4S2 ears against -. and Duluth had 2U9 against
13n. All the figures for receipts of seventy
hours last year and ninctr-siX hours this
year. The weather is favorable for a frcer
movement of grain. l.ittl" change occurred IN
tho supply. Local stocks show stand-off for the
first part of the week. while the visible supply
decreased by 5000 hu. making the present total
+S.91+ 900 bu. tlearanccs to-day. 29l 900 hui.
Broomliall cabled. Expect heavier arrivals o;
wheat into the United Kingdom next v"ck
Russian shipments may decrease somewhat. but
Dan"bian contributions will probably show a,
equivalent increase. Bombay and Calcutta are
expecting to begin shipping their wheat IL
March.
Near the close I'll" market very weak
selling down and closing Mt low point. 16A q
16thc.
The cash market was active and firm. although
there quite the fine edge of Saturday
taking the market all through. On the othe,
hand, the country milling demand was very good
ANIL one trade was reported in No. northern al
L. over May, this wheat tabOut 10000 bul to he
taken out'a required. There was fair demand It
arrive In both the No. 1 and No. northern