The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-24
GRAIN GOSSIP.

Northwestern Mer-The sudden and consid-
cradle enlargement in the demand for corn from
the importing countries of Europe presents such
a decided contrast with the demand from that
source for that grain well wheat and its
product, for some time past. that it has excited
a great deal of comment from the trade. The
explanation appears to be- far investiga-
tion reveals it, that the trade in the importing
markets Europe became alarmed the
withdrawal of Russia seller of feedstuffs,
and as the Argentine is of the market as
exporter of corn until its growing crop is
cured, these importers came to North America
where supplies could be obtained. even if the
price here was higher than in any other country.
Their purchases have increased largely. and
exporters have buyers out in the country paying
prices that the accumulative markets have so
far failed equal. The for this sudden
alarm and outbreak of buying in this country
by Europe is as stated above, largely due to
the refusal of Russia to offer her feedstufrs for
prosecution of the that country has
with Japan. Feed for the cavalry horses and
Broomhall in recent article on the sources of
grain supplies for importing countries shows
go per cent of their barley. IS per cent Of their
rye and so per cent. of their oats supplied
Dor ~ weaern maj EDrope tban any
other exporting country
7 !
A review of the St. Louis grain trade, calling
of wheat there says Wheat receipts OF not
far from harvest volume continue to arrive at
the St Louis market Receivers haze been look
ing for and predicting a sharp drop in the
movement to this market but except occasional
crease These extraordinary receipts are due en-
tirely TO the hard winter wheat of Kansas and
Nebraska mainly the former that state con-
tfnUinS 70 turn loose q tremendons volume con
sidering how great have been the drafts made
upon its crop ever since 1t was harvested. Eu-
Is mi
mills Of the Northwest, the Southeast and other
sections have been steady buyers right along
but Kansas still has wheat for sale"
?
There are indications that the export move
ment of wheat from Argentina will be reduced
in short time. Since the present season
opened. Jan. l. that country has exported nearly
100000 bu. more than doubling those for the
same period of last year, and was in excess of
any previous season for the same time Lon
don cable states that holders asking higher
prices and refusing TO SELL as they look for a
large advance in the price. The Russian Japan
csc war. the unsettled political situation in Eu-
rope. and the largely higher markets in the
reasons for the position the Argentine trade has
taken Broomhalfs Argentine representative
ised 10 Interfere with the movement Of the cron
I +
The following review of the flour situation at
Glasgow is printed in one of the leading milling
journals of the West: THE flour demand is still
limited owing to heavy stocks held by consum-
ers. but. the quantity on passage must be
getting reduced, look for stocks becoming
slightly smaller. 1t will be a gradual process
however supplies still much too large at
the present time. American prices for all classes
of hours are quite out of line in the meantime.
and shipment business is impossible unless in
occasional lot. We see signs of consigned
flour beginning TO come to our market. ard. ar
irving at this time. il is the worst thing that
could happen. The fact that importers not
making offers to millers should be sufficient to
show them that this is a bad market to consign
TO, and when the account sales are received
they will that this is the case. The Glasgow
market is, perhaps, in worse state, far as
American flour is concerned. than any other
market in the United Kingdom If prices keep
at the present level in the United States there
is doubt the demand will largely go on to
French. Australian and fours made from Argen-
tine and Russian wheat. These markets. of
course. have been slightly dearer lately, but
have not advanced in anything like the degree
noticeable in the markets your side. Winter
wheat fours with us are probably nearer mills
quotations than anything. but still lag be-
hind to the extent of Is to Is cd per sack