Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1903-09-01
IS UNSATISFACTORY
PROSPECT FOR WHEAT CROP IN
NORTHWEST is DlscoUR-
AGING.
This Fact Forces the Price Up and
Keeps Spectators on the Anxious
Seat-corn is Matter of Guess
Prices Are Irregular.

Chicago, Aug. 81 Distinctly bad
weather in the spring wheat territory
last week added about cent to the
wheat price. There was no room for
difference of view as to northwest
conditions. They were exactly what
they should have been. There were
two heavy storms over the whole of
the area; the harvest and movement
were interrupted; some impairment
of quality was probably inflicted and
more or less delay in movement en-
forced. With such an untoward har-
vest condition in the spring wheat
country it was thought remarkable
the effect on the price was not
greater.
But it was week of contrarieties.
There was better weather abroad, and
the traders here were affected by the
Indifference of the foreign specula-
tor, and especially by the stolidity of
the foreign cash buyer. A break of
almost sc in the spot price at Paris
and of PA in the September there
showed the Indifference of the French
man.
The Spectator here, who had ac-
cumulated wheat on the unfavorable
northwestern conditions, was dis
heartened by the lack of buying help
from the outsider. With all the per-
spicuous reasons for demand, there
appeared none. On the days when the
buying reasons seemed the best there
was the most wheat for sale, and from
the people who had it.
There was a puzzling inclination to-
ward optimism On the day of bad
weather conditions the Spectator
seemed most interested in the predic-
ton of improvement. The rains of
| Thursday and Friday were forgotten
Saturday and all thought given to the
| prospect of fine weather this week.
| The queer speculative situation i'm
pressed some that perhaps the price
explained the Indifference and that
| soc possibly represented a good deal
that was unfavorable.
| All the attention of late has been paid
to the small movement of wheat to market.
But there has been Just as remarkable a
falling of in the distribution of wheat
| from western points. Last week the total
| primary receipts were about 100000 bush
els under the total last year; the total pri-
mary shipments were 100000 bushels
less In the past fortnight the primary re-
| ceipts of wheat have been about 4, 100000
bushels under the same fortnight last
year; the primary shipments have been al
most 100000 bushels less. Slowly as the
| wheat has come into Chicago. st. Louis,
Kansas City and Toledo, it has gone out
even relatively slower. There has been the
same sort. of falling off in the distribution
| from the seaboard Last weeks export
clenrances were 100000 bushels under the
same week last year. and SO far on this
crop the exports have been at the rate of
| 800 600 bushels under year ago.
| The Spectator. puzzled at the failure of
! the price to keep on moving, has raised for
| himself the point whether me price has
not perhaps discounted the present situa-
| ton, and the queer features of the move
ment suggest that perhaps the distributor
Of the cash wheat Is hesltating at the same
question.
| Since August 10 there has been reac-
| tion of 1Isc to 314e and q close contest with
| In narrow limits. The situation does not
become any easier to decide. The foreign
err does not admit his dependence, although
he has not had the right kind of weather.
There have been quick changes from favor
able to the unfavorable in The northwest.
1t is with every sort of wheat man a situa-
ton of incertitude.
Corn All a Guess.
| Corn prices are moving very little, only
a range of cent all last week. and prices
| We're not quite maintained. There is a
| pretty close division of sentiment. In spite
| Of the claims made on one side and the
i other there is the belief at the bottom that
all depends on the weather of the next
thirty days. There is as good talent" on
one side as on the other. There has been
a fair movement the past fortnight and
there has been an excellent shipping de
! mand There has been evidence that in
the west the farmer has been more conf
dent of getting a crop The selling from
| Kansas and Nebraska has indicated this
Over most of the belt there has been sea-
sonable weather. The excessive rains last
week were not the ideal conditions.
There has been some important selling
the last week by interests long corn but III
Il position to recognize western improve
ment and the change In the western mood
There Is not much disposition to risk short
selling, although there has been more OF
that sort from one direction the past week
There Is the contingency all the time OF
n scare and of runaway market. AT the
same time the price influences the consery
alive element. and is assumed to discount
Il great deal that is unfavorable.
Each week of warm weather will now
increase the inclination to try the shor
side. Unfarorable conditions will make
the crop situation more uncertain. The
corn SPECTATOR will be on the anXlou:
seat for month vet, and there is no pos
sible way in which he can do anything
better than guess.
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WINS BOTH oAMRe.