The Minneapolis journal., 1904-10-01
More Is Coming In Than Last
Year but Not Much of the
Contract Stuff. s.
Stocks Gain 211, 434 Bushels, Yet
No. i Northern Decreases
by 108,366 Blu.
Bears Sell It Early Today, but
Buy 1t Back Later in ..
the Session.

Minneapolis Chamber of Commerce, Oct. l.
A thousand cars for Monday the wheat talk
this morning. on which the market sold on early
December going to $1.13. This prospective pres
sure on the cash wheat market was not the only
thing, for actual wheat In sight was IN eX-
cess Of last year. there being 376 cars more III
the northwest than year ago, or 1,oO9 against
633. With this was an increase OF I1A,4o4 pu
In Minneapolis stocks, so the first local view
OF the immediate supply situation was not condu-
Give to strength. Hence 1t was not surprising
that a weaker tone evident little later
the trade saw that the proportion or low grace
stuff was again large and In the yesterday n
spection there We're shown to have been III
cars of No. 4, % of rejected and q OF no grade
besides 72 Of macaroni or winter wheat:
Here were 31S cars Of No. 4 lower, out of
yesterdays 655 and this accounts for the 1acC
that with an increase OF I'll ,4S4 bu IN local
stocks the No. northern ste stock K actually oe e.
see that all is not wheat that glitters, and
big figures do not necessarily mean walkaway
with the money for the short who has stold the
contract grade. And so the pit crowd having
cold the market short, turned around and bought
in after looking under the surface and December
was up to $1.1t$.
BroomhaH estimates worlds wheat shipments
Mt 8, 800, 900 bu of the quantity Europe will take
about s,sOO,O00. Wheat on passage Will prob
ably show n further decrease.
Portugal report says: very poor wheat
crop has been confirmed. 1t will probably be
necessary to import 4 10000 bu Of wheat against
an average importation the past five years OF
about 1900. 900 bu. The corn crop is also poor
and probably 1000, 900 bu will have to be i'm
ported
Baltimore sold 10000 bu cash wheat at the
highest price the crop, with bids for 10000
bu more.
Baltimore also reported that export firm In
Baltimore says correspondence indicates that be-
ginning about Dec there will be seen the great
est export demand for and oats In many
years.
Kansas City wired: These wheat receipts are
delusion. Inspectors could not get around to
all the day before on account of rain. There
Is no immediate prospect of our receipts running
much 100 day. Some of the wheat
is transferred from one house to another
The following came from man on the Produce
Exchange in New York. whose figures are usually
considered reliable: Letter received from a
large continental cash grain house which does
not deal in speculative futures, says the Russian
wheat crop is estima ted at 56, 900, 900 to 80.
600. 900 quarters AS, 900 900 to Ala, 600 600 bu
against 76.470,OOO quarters (611 76OO 900 bu) last
year.
Primary receipts LOGS, 900 bu against 1.142,
900 bu.
The weather map shows the following rain
1a1ls: Raining at Kansas City, ~; St. Louis,
80; wichita trace Omaha, .34; Concordia,
10; North Platte, lis; Valentine, 81 Sioux
City, IS; Des Moines, .04., Temperatures: Can
ada 80 to As; North Dakota, 4s; Minnesota,
4s to so; South Dakota, AZ to 40; Iowa, 4S to
62; Nebraska. so to 80; Missouri, so to "a; Illi-
nois, 81 to SO.
The forecast: Illinois, Indiana, Missouri, Kan
sas, Minnesota, showers tonight Iowa, Dakotas,
Nebraska, Michigan. Wisconsin. generally fair.