The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-29
Range Of Wheat for the Day
Only SO Cars in Against
sos a Year Ago.
Liverpool Takes Government Re
port as Bearish and De-
clines Id.
The Local Trade Bought in Short
Wheat After Noon Causing
q Rally.

Minneapolis Chamber of Commerce. Dec. 90
The wheat trade was in maze all morning. try
ing to pick its way thru confusion Of reports
and figures. The government report was enough
in Itself to make for divergence Of opinion and
with 1t of SO cars into Minneapolis
against 900 year ago. These things were to be
taken with allowance, or qualification OF one
sort another, and the trade hestated and.
ma jorty being in doubt. sold out long wheat,
putting May Off to S1.14A. from which point 1t
had rallied slightly by mldsession. John Hyde.
the government statistician who, In response to
q number of requests announced some six weeks
ago that he had started inquiry to ascertain to
certainty the quality Of milling wheat in the
last crop. now says in effect that this Is impos-
sibe of determination. He finds, however, that
the wheat is of light weight, Minnesota averaging
62 lbs. North Dakota 81 lbs and South Dakota
80 lbs respectively The quesion Is how much
and spring to allow for the deficiency In the
spring wheat. To majority In the trade the
total yield in bushels looked big. The light
weights shown did not appeal to them as full
offset. Others took a stronger view OF It,
Watson said: 1.-The government report sug-
rests about $50, 900, 900 bu the wheat crop
of the United States, allowing for the light
weight Of the northwest CROP which the govern
ment says is about lbs short of 60 lbs. The
spring yield Is placed at 219,oOo,00O bu, OF
which the government allows 10000 6u tor
wisconsin II, 900, 600 blu for Iowa. 100000 bu
for Colorado, 100000 blu for Washing ton,
1000, 900 bu Dor Idaho. Montana. Nevada, Wyo-
ming aud Utah, and other spring states, $780,
northwest states, measured bushels. but the gov
eminent says the reports indicate deficiency In
weight of wheat in the three states of 3 lbs q
biishel or about ID per cent. This Is equivalent
to o. 900. 900 bu, which would leave the north
west crop on the basis of 90 lbs at 12e, ,OOO
bu which Is 900 less than Jones estima ted
as early as August and SO, OO0, 900 bu less than
the Northwestern Miller estimated about Nov. 4
The government figures support the statement OF
elevator companies that wheat is closely mar.
keted.
With reference to receipts the conclusion wac
that while 80 cars against $50 year ago was
sensa tonally bullish at first glance, the recent
storm held back the wheat. In a day or two
the bears believe. the accumulation VIII come IN
and last years figures wall be again overtopped
The bulls do not share this view and incline tC
the belief that big of the past and tina
strong
Liverpool evidently viewed the government re-
port as bearish, for cables were I'D lower.
Bradstreets estimate of the visible change II
for decrease Of 100000 btu
Duluth had II cars against 20 year ago. an6
Chicago IL cars against 48.
The Price Current says: Snow Disappearance
and rainfall develop a better position of thu
wheat fields. Surface moisture well absorbed
modifying prejudicial influence from presen
freezing; other grave fea lures unchanged
Kansas City wired There was sale Of
ten cars of No. 8 hard wheat, gfty-stx pounds
sold at 81 .O81a here to so to Missouri mills.
Primary wheat receipts today, aes,2s2 bu
last week, 773.T91 bu; last year. 1.OO4 .3O2 bu
Shipments of wheat today 2, "a, $50 bu; las
week 27S 400 bu last year, 425,250 bu.
y Liverpool closed Id lower.
b After noon the market began an advance tina
carried it up &c to above s1.10. There wa
much buying In Of short wheat.
May wheat closed at $l16. and July a
S114lk.