The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-02-13
Foreign Markets Are Up Again
Higher Cash Wheat Prices at
All Important Points.
Commercial West Says Country
Millers Cannot Get Enough
Good Milling Wheat.
Modern Miller a. Little Bearish on
the Winter Wheat Out
look.

Minneapolis Chamber Of Commerce,
Feb. 13-Mnneapolis May wheat struck
another new high point this morning, SELL
ing early at 95hc. All markets were
stronger and higher to start, taking the
new strength largely from advances in
foreign markets. Liverpool was up 1a@4d
at the close, which Broomhall cabled was
due not so much to American strength
as to good spot wheat demand in Liver
pool and a lack Of offerings. Sellers OF
wheat In all foreign markets are going
little slow, and not much pressure Is
felt anywhere. The war situation pre-
sents new feature, but has possibili-
ties that are disturbing to conservative
traders. London was up Id and Paris
INC. Broomhall estimates worlds ship
ments at about 100000 bushels for the
week, Of which Europe will take probably
SS00,O00. The quantity afioat for Europe
will probably show decrease.
A feature to-day was the strength in
all cash markets. The Minneapolis cash
market was firm and Chicago was up.
About 50,000 bushels No. 1 northern sold
in Chicago al 9SAc, this to go to Chicago
mills. Texas mllers report a good flour
business. Kansas City No. 2 hard wheat
was UP &c to 92c. Duluth flour mills re-
ported flour sales larger, some Of the bust
ness for export
Minneapolis received S57 cars against
257 last year, Duluth 10 against 234, Chi
cago II against 49, Kansas City had 81, 900
bushels for two days against SO, 900 last
year, and st. Louis 1874, 900 against 115, 900.
Primary receipts were $4,000 bushels
against 625000 last year, and shipments
were $50, 900 against 100000. Wheat and
flour clearances equaled 100000 bushels.
Local elevator stocks decreased 196,963
bushels, leaving 12,6S0,S44 bushels in
store.
The Modern Miller says few complaints
have been received concerning the con-
dition Of the winter wheat crop. Reports
from some sections in the southwestern
portion Of the wheat belt are to the effect
that there has been ample moisture and
that the crop is doing seasonably well.
The complaints received allude only to
backward and poor growth Of the plant,
and it is generally believed that favorable
i weather in the spring will overcome the
backwardness Of the crop
The Commercial West says country
mills are complaining Of their inability to
get sufficient good milling wheat to enable
them to run full time even II flour trade
warranted it. A freer movement Of wheat
Is not looked for until after seeding, unless
prices should reach a level that would
tempt the farmer to market his grain.
He now has his eye on the dollar mark,
and feels firm in his position. Mean
While, millers in all parts of the country
are compelled to pay the price demanded
by the seller. To a considerable extent
the farmer seems to control the situation.
The mills must have sufficient wheat to
supply their regular trade, whether they
do any export business not But I'M
less there Is a greater amount Of wheat
In farmers hands thruout the country
than a year ago. it is not likely that the
movement will be any heavier, or as
heavy for the next two months as last
year.
The market closed firm at the high point
for May, 951sc. July closed at 94Ac and
September at S4A @S4Bc.