The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-03-11
The Government Report, Chicago
Cash Business and Duluth on
Export Basis.
While Local Elevator Firm OPP
Grating 65 Houses Took In
Only 800 Blu. Wheat.
Bears Found It Hard to Make a
Stand Against This Sort
of News.

Minneapolis Chamber or Commerce,
March 11.--Fuur strong bull items were in
this morning and under their influence
wheat went up by steady gains Mime
apolis May selling to 9715c by IL o'clock.
( against yesterdays close at 95Mc. Inere
was the government report showing about
$4,000. 900 bu less wheat in farmers hands
! than at this time year ago. the total
farm reserves being estimated at 1872
100000 blu, or 20.S per cent of the last crop
Adding these reserves to the visible sup
ply there is a total Of 67,OGO,O0O blu. A
year ago at this time farmers reserves
and the visible totaed 211, 100000 bu. two
years ago PIT 900. 900, three years ago 1885,
900, 900; in 1900 about 212. 900 900 bu, and in
1899 about 22e,00O.O0O. Taking an eleven
year average Of the visible and the farm
reserves there is found total of 1877 ,000,-
900 bu That the present total of 49,
O00.0 900 bu is pretty bullsh proposition
1s very plain. In addition to this govern
ment report there was the sale of 10000
!, bu in Chicago to go direct to milers. the
= working about of Duluth and Liverpool
prices SO as to put Duluth on an export
basis the fact that October wheat in
London 16c over Chicago September,
and the fact that big local elevator com
pany with SIS houses now open received
yesterday at all points total Of only 800
z, bushels Of wheat. Against such news as
this it was pretty hard for the bears to do
4 much, especially SO, In view Of strength
an ooN. IlFclpOol Ctl''lc iSu Wy dllu d
London cable l1a to 1ssd higher. The
fact that Argentine shipped out 2,7c0, 900
bu was taken bearsh at first glance.
yet by comparison with the 1854, 900 bu
shipped last week 1t was just the con-
trary. Rains fell over the southwest as re-
ported yesterday, but nowhere were they
!; heavy and the relief afforded the winter
ii wheat was less than had been indicated in
4 first reports. .'' 49,
An examination of the books in the
office Of the secretary of the chamber
shows that since Aug. l to date no less
THAN 10,6O0,00o bu of winter wheat has
been received In Minneapolis and of win
ter wheat spring wheat from Nebraska
a and ma caroni wheat there is total
4 since August Of about IL 100000 bu. To
this extent the northwestern movement
has appeared larger than it really was. to
those who did not go under the surface
Minneapolis had 3O3 cars this morning,
4 against PAS. and Duluth 10 against SO. Chi
: cago received Is cars against 9. Kansas
( City had $4,000 bu against 41,0O0, and st.
Louis $4,000 against OCOO. AT primary
points the total receipts were SAL 900 bu
against 900; shipments 32S.O0O agains:
1000. Wheat and flour clearances 1877
600 blu.
< BY the map it Is shown to be clear in
Kansas and Oklahoma, and there has been
no moisture in that territory for the past
twenty-four hours. nothing in addition tC
quite general precipitation outside of the
I southwest drought area. There are ligh;
SHOWS In the .Dakotas, Minnesota, eastern
q Nebraska over the whole of eastern Hi.
& nois, Missouri, Indiana, Ohio and :Tennes
see and Kentucky. From the Mississippi
eastward there Is general rain and goo(
deal of moisture.
The Modern Miller says the returns in
dictate that there was little or no whea
winter killed, but the damage from lacl
OF moisture is thought by many to hay.
been considerable. Kansas reports hfgj
winds and drought working damage to tn,
plant and rains urgently needed TIL,
need of moisture is felt in nearly all part
OF the winter wheat belt, yet in mos
sections report states that while the plan
Is unusually backward in top growth an,
shows little life, excepting in the south
,ern regions, where fair start has bee1
made, the root growth generally is goo
and that favorable growing weather wi
Improve the condition Of the crop greatly
The market eased off a trifle near tn
close to $3.50, but was back again O.
last trades to 9714c. Minneapolis Ma
closed at 97A@97ssc, July at e7Ac an
September at 857sc.
No export business Of Importance wa
done, but there was good inquiry reporte
and considerable business pending.
Wheat and flour clearances for the wee
were 1854 900 bushels, against 1857 900
year ago. 49, > -