The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-01
So Says the Hungarian Minister of
Agriculture in His Annual
Estimate.
Weather Against the Bulls, but the
Market Shows Strong
Undertone.
September Wheat Touches 82l1sc on
Strong Buying Near the
Close.

{, Minneapolis Chamber OF Commerce, Sept. l.
Ele new month opened up in wheat VIVID a
quiet steady market. The weather was against Ise
the price, also the lack of speculative
interest. The market was strong, however, ana
held against all pressure of selling induced pv
the bright Skies The feature Of the morning.
from the viewpoint Of the worlds situation was
the annual estimate OF the Hungarian minister
OF agriculture. The worlds wheat supply, he
says is 8,Oos, $4,000 bu against 1895, OIL 900
bu last year. After allowing for stocks every
where, and all differences In detailed COMPARE
sops he figures out that actual requirements,
compared with the export supply, represent
deficiency of 90, ST., 600 bu. This Is about IN
line with what Broomhall and Beerbohm have
said. 1t is confirmatory Of the several reports
of the London Statist, it bears out what many
grain have figured out for themselves and
what our own exporters. our consuls in Europe,
and even local grain trade men returning from
abroad have reported. There Is deficiency
this year that will mean greater demand ror
American wheat later on. ....
l. All over the spring wheat country there was
good weather. nor was there bad weather any
where. Conditions were such as to promote farm
work, and this was the most important bear
fea ture. but it affected the market only slightly
Receipts were light. AS was the case yester-
day, so again to-day 1t was impossible to make
com arison, last year the Labor Day holiday
came week earlier and some markets closed
for the day and others had double holiday at
that time. To-day Minneapolis had $50 cars,
Duluth 1875 and Chicago 196, against no compari
son for last year at these points, while St. Louis
had 5S, 900 bu, against Eli, 900 bu, and Kansas
City S57 cars. against 219 cars, both points,
showing two days receipts in the figures for last
year. From South Dakota a number Of reports
were received of the bad condition of grain in
the shock, due to too much rain. In some
places the stacks reported wet thru to the
ground, and in other places the grain is soften
ing and sprouting. Locally opinions differ as to
the Importance of this 1t Is generally thought
however, that the heavy rains of last week, aside
from putting temporary stop to farm work.
lowered the quality Of the grain in some dis
Ntricts and caused slight loss in quantity
as well. Local grain look for a larger
proportion Of damp wheat In the daily receipts
from
Bradstreet's figures increase Of COG, 900 bu
in the worlds visible, 3O6 900 bu increase in the
quantity east Of the Rockies, and 600 900 bu in
crease in the quantity in Europe and afoat.
Primary receipts, Oil 900 bu, against g. no 900
tbu last year, and shipments. 4O5 900 bu against
.1,012, 900 Blu, Wheat and flour clearances, 1884,
1000 bu.
1 Ten loads of wheat for export
q Near the close the market turned strong.
IThe weekly crop summary Of the weather bureau
mentioned damage to spring wheat in The shock,
from too much moisture
September sold to s29s @s21ac and closed firm.
December closed at 500, both options at high
point of the day.
No. northern sold we'll to arrive at S9M a
83%c. There good demand for all grades
and prices were wei maintained on both old and