The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-27


point yesterday. s1.1o being bid for No. 2 red
wheat This bid was made by the Hoosier State
flour mills. No wheat changed hands at the call.
This is the highest price for wheat in the local
market since the Letter deal in 1898. Even at
present high prices farmers are not showing
much inclination to sell and the amount OF wheat
coming to market is small and the bad roads
the past week have interfered with the small
movement.
OF the local grain and flour trade the past week
the Northwestern Miller says:
1.-The milling conditions would be very satisfac-
tory on the present prices, II the millers could
obtain wheat and sell flour a basis OF the
ruling wheat prices. Unfortunately, with wheat
ers abroad absolutely out of the market, and
with the domestic buyers purchasing in small
the prospect of keeping the mills running Is not
good. Much wheat delivered early last week,
when the mills put the price to 81; In fact at
some OF the mills 1t looked very much like the
latter part Of July, there were many wagons
standing in line TO deliver wheat and receive
dollar buShel for IL. Since the price has gone
above a dollar the deliveries have dropped off
and the probabilities are that the farmer is now
waiting for a much higher price Country deal
ers are not quick TO let go OF tier stocks be-
lieving that with the conditions in Chicago and
prices than those ruling now Feed is in excel
lent demand. and 1t is the opinion generally that
the millers are not placing a sufficiently high
value on this part of their product 1t believed
that the stock or feed is very light and the con-
tinued colo weather viii most certainly in
crease the demand for this article, and at the
present ruling price of wheat the miller will be
entirely justified in demanding a better price
for his feed"
The Northwestern Miller has the following to
say of crop conditions in Indiana and the Ohio
valley generally, from its Indianapolis corre-
spondent. Charles Nichols:
1T is still quite early to make any prophecies
as 10 the condition of the winter wheat plant
For the most part the plant is doubtless in very
entire winter wheat section there has been a very
unusual amount Of snow protecting the plant. al
present time. III there is anything in the state
ment hat good wheat crop in the winter
a large amount of snow the crop Of 1904 should
be large and excellent in quality. Never
theless. II is too early to speculate on what the
growing weather will have come
Z
In summing up the general flour and wheat
trade for the week past, Western milling jour
nal says:
with strongly advancing wheat markets. it
was necessary for the mills to put up their flour
prices correspondingly high last week and while
market. Others hsstcned to get i'm as soon as
possible, evidently believing in still higher prices
10 come. While number Of mills report a good
complished only fair business and TO have had
difficulty in getting enough wheat to supply their
needs. This scarcity is becoming a serious mat
ter in number OF localities and will probably
result in a shutdown of mills for a time Kan
mills the exception, as most of them have
ample stocks. In the Ohio valley much wheat
was delivered by farmers when its price touched
the dollar mark, but with further rise. deliv-
cries almost ceased; holders waiting for
the high limit to be reached. AS to the growing
wheat crop, reports seem to warrant the state
ment that 1t has. in most regions very fair
protection from the cold weather now prevalent
In the Southwest, over large part OF Kansas
and Missouri. storm of seet and snow fell.
benefit to the plant which is in a dormant state
w. IL Bartlett-It looks TO me at tonight
close that July wheat MAY, July and Septem-
Der corn. May, July and September oats are a
purchase at the closing prices. July lard and
July ribs should be bought any break from
closing prices. Armour stopped the advance in
July wheat and May corn. but was a large
buyer Of July wheat at close e9c. No 2 red
wheat sold at Slip in Kansas City to-day Their
May wheat closed at 4c. while No. hard win
ter. their contract grade. sold at Csc for cash
There is no danger I'm these wheat futures rs
long as cash wheat commands such premiums
The price deDends on one Spectator or grour
of spectators. but actual consumptive de-
to-day at 9Oc that offered at soc last Friday
Detroit message says: mo. 2 red wheat
closed here to-day at sl.14 bid The wheat don
seem To be in the country. If farmers had the
wheat they would certainly be delivering il now
at these prices while the roads are good What
will be the situation when roads break I'D ant
| the farmers can't move? Ground is all covered
/ with ice. Watch out for serious damage re
/ ports as soon as IL thaws. Good parties who
| ought TO know say now that the wheat 1.
4 ruined"