The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-06
Valentine, the Armour Representa-.
i've, Buys May Freely in the
Minneapolis Pit.
Good Export Business Reported and
Clearances for the Week Run
Heavy.
FL.
December and May Sell Together at
One Time, but Widen Out
Again.

Minneapolis Chamber of Commerce,
Nov. 6.-Wheat was under pressure this
morning, and held up well considering the
bearish news and figures received. The
London Times has an estimate Of an Ar
gentne exportable surplus of 10S, 100000
bushels This is big. and covers a great
acreage. largely only half grown as yet 1t
is an estimate no doubt covering the
maximum possibilities and subject to re-
duction upon any change in the condi-
ton of the Argentine crop Last year
the Argentine eXportable surplus was es-
timated at about 65.000,000 bushels. Act
ual shipments from Jan. l at 60,328, 900
bushels would indicate that last years
estimate was not far out of the way. But
los. 100000 bushels is total that looks
too large. even allowing for the known
increase this year in the Argentine acre
age Stocks at Odessa are heavy, and
Berlin cablegram put out an estimate of
30,O00000 bushels for the total, but these
figures were too big to meet acceptance
Argentine shipped this week 5000 BUSH
els against, 584, 600 last week and nothing
a. year ago. India will ship about ], 440 900
bushels compared with $3.50 Liver
pool was 1s@Ad firmer at the opening.
In Minneapolis the increase for the week
will be about 700, 900 bushels. The wealth
er is favorable for continued free move
ment Minneapolis received 617 cars
against SIS; Duluth 249 against 296, and
Chicago 107 against o. Kansas City had
100000 bushels against $4,000, and ST.
Louis 100000 against $4,000.
There was hardly any rain in the past
twenty-four hours, only light shower
at Chicago and a few light showers in
the Ohio valley. The temperatures are
lower in the west, but they are higher in
the north and milder weather Is indicated
again. There were killing frosts in south
ern Illinois, Missouri and in parts of Ne
braska. The conditions continue very
faVora HE for the wi
and are improved for corn husking.
The appearance of Valentine. the Ar
mour representative. in the local pit was
the cause of considerable firmness, and
shorts bought in some wheat. Valentine
bought May. but Offset his May purchases
In part by sales in December In all he
traded in close to 100000 bushels Of May
and about 100000 of December, as near
as could be determined
The Modern Miller says general relieved
drought conditions east of the Mississippi,
but cold weather is needed to check the
Hessian fly which the late mild spell has
revealed working in wheat fields in soms
sections The condition of the growing
crop on the whole is considered good. A
somewhat smaller acreage Is indicated in
the southwest.
The final report of Orange Judd Farmer
says that the corn season was almost
a month longer than usual, and this late
period of warm, ripening weather resulted
in heavily increasing the yield of matured
corn. The average rate of yield is esti-
mated at l6 bushels per acre, against 27.1
last year, resulting in crop of 2346, 0O0,-
600 bushels against 1855. 600, 600 last year
The quality is much better than was an
t1clpated. but still more soft and light
and chaffy corn than in an ordinary year
Acreage seeded to wheat is apparently
little different from that harvested In
kentucky and Tennessee there is a sharp
decrease owing TO the long summer ard
fall drought. Crop is seeded very late and
the present growth is not up an average,
but the general appearance is good.
Primary receipts were 1,343, 900 bushels
against 1,595,00O, and shipments were
$4,000 against $4,000. Wheat and flour
clearances were $4,000 bushels. For the
week clearances amounted to 5,715, 900
bushels.
The market closed firm and higher Du-
luth and New York reported export bust
ness, some eighty-thr loads in all.
December wheat closed at $780, May
at 787sc and July at 7SAc.