Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-01-01
Some Remarkable Changes No
ticeable In Regard to the
Wheat Trade
SHIFTING OF THE GRAIN CENTER
sreat Volume of Wheat Which Once
Went to Chicago Now Going to Min
neapolis and DuIuth-Nearer the
Source of Production-some Milling
Statistics.
Statistics.

the year in the grain trade. Ii ha
II did not come strikingly apparent t
a majority of the grain trade until thu
/ latter part of 1903 Then it was fore
| IDLY impressed uupon the grain trader
of the country and most participant,
| upon operators in Chicago, that thu
great volume of spring wheat which
| once came to Chicago. has now passet
TO Minneapolis and Duluth.
The latter markets are situated near
err the source of production and have
facilities equal 10 Chicago for handling
the wheat. The milling capacity of the
northwest has grown to such propor-
tons in the past two years that 1T now
consumes about so per cent of the
spring wheat raised in the three north
western states
The millers there have, during the
crop season, maintained prices for
cash wheat above an so cent level AMI
entirely our. of line with all markets
east of 1t SO that what little spring
wheat came to Chicago was bought by
the elevator interests for speculative
milling and mixing purposes.
There was over 100000 bushels of
this wheat shipped In from Duluth and
not inspected while the inspection re-
turns by cars showed only forty cars
of No. northern received from the
country.
Volume is Declining.
There is a little wheat grown in
southern Minnesota. South Dakota and
northern Iowa. which is tributary 70
Chicago. freights being relatively
cheaper than to Minneapolis. but as
that section raises less wheat each
year and the trend of the large spring
Wheat raising sections is to the west
ana northwest, particularly In North
Dakota and in the Canadian provinces,
Chicago becomes further removed.
The only salvation for the Chicago
wheat traders TO maintain larger
market is to Shift TO hard winter
whoa. basis They are practically on
the latter basis now, and while No. 9
hard wheat is delivered on contracts
for No. northern and No. 2 red at a
penalty of cents. there is a movement
Under way to reduce II TO 8 cents which
most traders believe is an actual mill
ing basis.
Whom !; is considered. however that
Ire Minnesota mills have for two years
bought the Kansas hard wheat and
ground millions of bushels, mixed with
the hard spring. Its milling quality
must be considered about on par with
it. The hard winter wheat of the
outhwest Is naturally tributary to
Chicago. and with the red winter of the
Missouri river 1t makes Chicago en-
tirely a winter wheat market.
Receipts of grain at Chicago for 1903
We're $40. 545.1T3 bushels, an Increase of
29.6 per cent. Shipments were 1S3,99S,-
231 bushels, an increase OF 31.2 per cent.
The most important feature was the
gain of 95.7 per cent In corn and l2.s
yer cent in oats. which Offset the loss
OF 40 per cent in wheat. The other Inn
portant gains were Ga per cent in bar
ley. 43 per cent in cured meats. As per
cent in dressed beef. and per cent in
butter. The losses were 1870 barrels
-four. per cent in rye, SO per cent in
flax seed, "A per cent in broom cora,
IS per cent in lard, and 800 per cent
in wool.
Statistics OF shipments are equally
with receipts. The mos,
striking was the increase of 100 per
cent In corn, &c per cent in oats. per
cent in rye. 10 per cent in barley, 154
per cent in dressed beef. The losses
We're 40 per cent in -four, 1911 per cent
in wheat. SOL per cent in flax seed.
1874 per cent in broom corn, 1872 per
cent in cured meats. COS per cent In
lard, per cent in butter, and 3l.9 per
cent In wool.
The disposition of the farmers to holi
their grain is becoming more Of a feat
ure each year. The farmer is more
than he ever has been, and
has more opportunity to market his
grain, but unless the price Is right a
majority do not rush their grain in
at the opening OF the crop year as in
the past. although this year wheat has
been marketed freely, as the cash grain
brought premium over futures and
there was every inducement for them
to sell. and between 10 and 76 per cent
of the winter and spring wheat crop
has felt farmers hands. The farmers
are more independent about holding
their corn than ever, and. although
they were sellers of old corn in October
and November. the movement from
first hands never lasted more than two
days at a time. and when the price
dropped below 40 cents their offerings
decreased. Poor corn, however, has
been coming in freely of late and the
shipper. instead of selling on
track on elevator bids, has consigned
all grains, preferring to take the chane
es OF ahavng 1t sold on Its grade,
as the quality has been below an aver
age.