The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-08-15
DOLLAR CASH WHEAT
BECOMES A REALITY
Continued From First Page.

which is used in the Minneapolis mills
and has made the flour manufactured
here famous the world over. Winter
wheat, raised in the states south and
southwest from here, can be bought
in Minneapolis from 80 to S3 cents.
Foreigners Want Wheat.
1t is not only the demands of domes-
tic consumers that has caused the
price to advance SO rapidly as it has
done recently. Foreign markets want
Minnesota and Dakota wheat at all
times to tone up the inferior qualities
grown in their own countries, and as
they cannot get any at the present
time and their stocks of wheat and
flour are beginning to get low. they are
becoming anxious to buy here after a
long period of apparent Indifference,
based upon the theory that they would
be able to buy cheaper. In the mean
time the wheat stocks in Minneapolis
have been gradually decreasing, until
at the present time there is only 1870
600 bushels in store.
Harvest is from two to three weeks
later than it has been for some years
past and there is not any likelihood
that the crop of spring wheat will
prove as large as last year. Some esti-
mate it will be from 30,000,000 to 49,
0O0 900 bushels less. III. V. Jones esti-
mates the states. of Minnesota, North
and South Dakota will only raise 49,
900, 600 bushels this year, whereas his
estimate for last year, which some
think was exceeded by the actual yield,
was 17S,S50,OOO bushels.
Crop Will Be Late.
Whether the crop will prove more or
less than Mr.. Jones estimates, there
can be no doubt that it will be late in
getting to market 1t is so already, as
the new-crop wheat commenced to ar
rive in Minneapolis from one to two
weeks earlier than this date in each
of the four previous years.
OF the present stocks or spring
wheat in Minneapolis the greater part
is said to be owned by the Washburn-
Crosby company and therefore the rest
of the millers have to scramble for
whatever wheat they can get. Recent
ly there have not been more than
dozen cars of spring wheat received in
Minneapolis on any one day, notW1th-
standing it would bring over 80 cents
and was steadily advancing. n
G lobe stated yesterday that buyers
would have to pay this price and they
did. although not without some hesi-
tation in the first instance. Later $1.01
was bid and $1.02 asked for wheat Of
fthis quality, and 81 was paid for 5000
bushels ito arrive" which gives the
seller twenty days within which to
deliver it. On the same terms 95 cents
was insisted upon for No. 2, a slightly
inferior grade.
Bad for MiIIers.
DOLLAR cash wheat" said James S.
Bell, of the Washburn- Crosby COM
pany, makes it bad for the millers
here, as they have to compete more or
less with the winter wheat flour made
in the South. There is, of course,
difference in the value of spring and
winter wheat flours, but the present
difference in price is abnormally wide
and makes competition exceedingly
difficult l do not look for the mills
to close. and Notwithstanding the stu
alton, believe at least fair portion
of the total capacity will continue to
be operated somehow until new wheat
comes in
There is quite large demand for
flour at the present time, although the
price has been advanced until it has
reached nearly SIS barrel and will
probably be quoted at that figure or
even higher within the next few days.
Traders in the pit" are now making
the price for wheat to be delivered dur
ing the month of September 50 cents.
Yesterday the market advanced from
1914 cents to S51A cents. and although
there was a little weakening toward
tha close of the day the almost uni
yersa1 opinion is that it will go to 80
cents before the time for delivery ar
rives, particularly if the harvest is still
further delayed by wet weather, as
seems by no means unlikely from the
present outlook.