The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-02
Hessinn Fly Reports and Light Receipts
These Hold Wheat Against the
Subsistence of the War
Scare.
Not Much Wheat Coming In at
Primaries, Compared with
a Year Ago.
Summary of the Pacific Coast
Outlook-Good Oriental
Flour Trade.

Minneapolis Chamber Of Commerce, Nov. p
Nearly everyone change thought wheat would
fall off this morning, for the reason that the war
scare had petered out night and all was
quiet. A dip in Liverpool confirmed the feeling
that there alarm abroad and that there
had been little justification for the scare. De
cember wheat opened easy at $1.15@1.15b. AL
most Immediately 1t started up and reached
Sligo before long. The pit turned attention
to the southwestern reports of dry weather and
the Hessian fly and bought wheat. These I'M
favorable winter-wheat reports continue coming
Kansas is now said to be close to the point
where damage will be done unless rain comes
soon The local trade scarcely knew how to
take these reports. 1t is so long time until
another winter wheat crop will be gathered
In that 1t very early to talk about damage.
Still, it is good report that seeding conditions
have not been favorable In some localities. and
the fly is undoubtedly present In places, and.
should this sort OF continue coming, it
would after q short time give the general i'm
preston that southwestern wheat Is going Into
sentiment materially. Again the movement
was light. Minneapolis with 800 cars against
876, and st. Louis with So 900 bu against 60, 900,
showing moderate gains, Duluth falling behind
with 1913 cars against 2T2. Chicago getting only
30 against 1874 and Kansas City only 900 bu
against 2400 600.
Two items that looked bearish early
the increase Of 100000 bu in local stocks and
Increase for the month Of TO. 900 bu in country
elevators. 1t Is probable that for the week the
local stocks Will increase another 100000 bu.
ana, as the Increase III tNe corresponding week
year ago 726, 900 bu, this would be bearish,
but In the country stocks the gain for the month
Is only ITO, 900 bu against LAO, 600 year ago.
showing that, while more wheat Is coming In
here. less Is accommodating at country points.
An Antwerp letter to New York grain
house was sent out by wire. 1t attributes the
heavy Russian movement Of wheat partly to the
high rates Of interest now being charged, and the
further fact that Russian bankers will not loan
much more than half the current market value
of the wheat.
Broomhcll says there is agitation in Spain
for the removal Of the import tax wheat.
Primary receipts SS1. 600 bu against 1.9s,OOO
Snow says he has fly damage reports from
southern Ohio, Indiana, southern Illinois, parts Of
Missouri and parts Of Kansas, but reports are not
as serious as OF this time last year and that
only the very early sown wheat has suffered.
The Commercial Review, Portland, Ore, est1
mates, on Nov l. wheat remaining unsold III
hands Of farmers about 10 per cent Of the crop
or 100000 bu. The exports since July l, for
eign and California. amount to 100000 bu
flour reduced to wheat. Milers have purchased
freely and have about 5000 900 bu on hand. The
sales for eastern shipment amount to $4,000, DOC
bu and $4,000 brls Of -four. Exporters have
considerable wheat in their possession. Whether
the same will go to Europe east has not beer
decided. Demand for -four from the orient Is
good for all the balance Of this year. engage
ments have been made all steamers sailing
TO Dec. l.
December closed at s1.15as @1.15k; May a,
$1.15A @1.15R