The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-09-17
The Crops and Business.

It is the corn crop that the country
is now most concerned about in a COM
mercial way, the giant crop, the annual
production Of which runs into stipend
GUS figures, representing agriculturally
the country greatest source of wealth.
The government made the September
conditions S4.6, or we'll above the ten
year average of 1916. There is big
I acreage and promise for 2,490 900, 900
bushels, which, if realized, would make
a return exceeded only twice in our his
tory, once in 1899 and again in 1902
The price will be high. Last December
. I the average price was 421ac, and there
will, in all probability, be higher level
this year. Even assuming, for the sake
of conservatism, that it will be no high
er, there is value represented of l,057, =
100000. Thus. at even prices this sea-
8son s crop would run ahead Of 1903 by
$l07 100000, and in the increase in the
corn yield all the tonnage loss in wheat
would be wiped out, the money value in
wheat being already more than main
tanned by higher prices for that cereal
y The one bad feature about it is, that
safe, the remaining one-third is late
and will not be entirely beyond frost
danger before Oct. l. During the week
sheavy frosts covered important sections
Lin The corn belt, doing damage, but
nothing alarming on the whole. The
next fortnight will be period of anx,
8iety. Reasonably good weather will in.
t.>sUre splendid crop. To how great an
extent our commerce has been disturbed
and our foreign trade has decreased in
Consequence of the crop losses and high
prices ruling. may be Judged from the
report of the bureau Of statistics Just at
9ahand which shows, that while in August
1908, our wheat exports represented
$5,248,5S6, this past month we exported
wheat to the value of only $174S49
while the comparison in the -four export
valuation is $4,65s,723 year ago
saeainst $3,2Oo,6S3 last month.
II With reference to wheat we are in a
position unlike anything before known
We have only enough wheat for our owr
requirements, and prices are high &C
cnrdinglv. for there Is not now, ant
there will be no large exportable surplus
pressing for sale. Nevertheless it viii
not do to stand absolutely ;mmovablt
on such a statement, for domestic re
quirements are by no means fixed. an(
it is quite possible that higher prices
may effect such turning to substitute.
II and such decrease in consumption as tt
materially change the situation some
months hence. ~
At the same time, however, there Il
not only the knowledge that the crop i!
short as a price sustaining influence, bu
the movement of wheat to primary mar
kets is light and there is no opportunity
for any accumulation Of stocks, 70,
the -four mills are doing fair business
despite the high -four prices, and arr
buyers Of cash wheat every day.
II Over the west the feeling is one o,
hesitation. This should give way tt
greater activity within short time, i
there are no more crop scares. Com
plant is heard that the quantity of mer
chandise moving into the west is lighte
than normal, and this is only natural
Tn an ordinary year the corn crop pre-
SCENTS a clearer outline as to final re
turns by mid-September, than is tn,
case this year. We are in a. waiting
Asperiod which may continue anothe