The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-26
"A Fair Gain for the Day in Sep
tember Cash Wheat About
a Cent Off.
Receipts Still Light, Stocks De-
!; creasing, and the Foreign
f.. News Firmer.
But the Weather Fairly Goodtand
r.! Millers Rather Slow
4 XIV Buyers.

MINNEAPOLIS Chamber of Commerce, Aug. 90
Wheat hrmed up at the start today, ana WAS
up to S47sc for September before long. Inc
close was lower, $3.50, leaving ralr gam
for the day. Nothing important enough to De
considered influence for strength eoula De
seen and the advance was largely due to week
end covering. There a forecast that over
Sunday may turn out bad. but weather. conol-
tions on the whole are favorable. some ioreasn n
strength, and there was another showing OF
light receipts at the principal points. NeVefthe-
less cash wheat here was about cent ~, aow re
diction was that Monday will witness 1urther
drop unless the millers come into the market
in better shape. The same general waiting
little for speculation, but they are as quick
to let 1t go when the market falls to hold up.
the real thing, but later on 1t was seen to be
nothing than q fair rally, such as migfn
come at any time little short covering
Minneapolis stocks decreased by 779.9s6 bu, or
moro than expected, bringing down the total
to 1,072,747 Minneapolis got 146 cars against
$50, Chicago 81 against IS and Duluth 81 against
IS. St. Louis got 10000 bu against $4,000
and Kansas City a7l,oOo bu against 2ea,ooo:
Primary receipts totaled 100000 Blu against
1000. Clearances $4,000 bu.
The northwest weather was good, altho a
little threatening. Hiilsboro. cloudy. looks like
Osakis, cloudy and cool with southeast wind:
above; Fergus Falls, clear and fine, no rain.
strong southeast wind; Fargo, cloudy, strong
south wind. 10 above Hunter. cloudy, cool,
light southeast wind looks If 1t might rain;
Comstock, part cloudy. strong southeast wind
rs above; Casselton. part cloudy, south wind;
Winnipeg, raining, 60 above.
thunderstcrms tonight and Sunday. cooler Sun
day. increasing sou.herly winds; Iowa. showers
tonight with warmer in east portion; North and
South Dakota, thunderstorms this afternoon and
tonight cooler tonight, Sunday fair with cooler
in east portion.
An odessa cable to Bartlett says the export
trado IN fror no OH Goa
paralyzed by lack Of railway facilities, the
government having retained all the rolling stock
for military contingencies, either for the re-
turn Of the troops in of peace the for
wardng of renforcements should the con-
tnue. Many thousands of carloads of grain
have accumulated along the southern lines, and
oil the warehouses overfowing with grain
awaiting transportation to the sea. The ex-
porters will sustain heavy losses owing to their
inability to fulfill engagements.
The following analysis of the export situation
1s by Ames Brooks, of Duluth:
Assuming that have exportable surplus
and must find an export price basis before many
days, 1t is matter Of interest to where
this will probably be. Reports from Russia are
very contradictory, but it appears safe to assume
that their crop this year Is not entirely salts
factory. 1t also is demonstrated that the heavy
shipments from Russia the past year would
have been even heavier had their inland trans
portation facilities been equal to the task of
moving the grain. 1t Is also certain that the
need for actual money by Russia will force
every bushel of merchantable grain that can
~ moved ana marketed into foreign markets as
FAST their facilities handle it. We see
reason to expect that, no matter what the &C.
tual crop may be. and no matter what the sit
9uation may be in the latter end of the crop
year, the Russian movement Of grain to foreign
markets will continue heavy before. This
being true, and assuming that other countries
may furnish the scale, which is not an
unreasonable supposition, and that America can
within the next few months contribute at the
rate of 3OOO,O 900 to 100000 bushels per week
to the worlds supply against practically moth,
ing which it contributed last year, will foreign
markets stand up under the burden which may
be thrown upon them? The best authorities
abroad think that their present price basis is q
fairly safe one and look for no material decline
Assuming that this is so, how will American
prices be affected?
Ames-Brooks say Of flax: 1t seems almost
certain that America has grown perhaps the
largest crop of flax she has ever raised. Yields
In the northwest are universally exceeding the
estimates, and the crop is far along thai
very little damage can now be feared 1t seems
certain that this article must reach an export
in doubt Some Duluth seed was sold for ex
port when Duluth October rs per bushel
Since that time the foreigner has declined stead
lily with our declines and avoided making fur
Their purchases. With the market now 20 cents
lower the foreigner shows less inclination tt
buy American seed than he did sixty days ago
The Duluth Commercial Record says: Thu
Duluth lake freight market has been .trif
stronger for the past two or three days. due t.
some odd lots of grain offering and being en-
t1refy at the mercy of the Line boats The gen
eral situation, however, is unchanged and when
ever full cargoes are offered there will be boat
hungry for them. The so-called PLANET fleet
of the Gilchrist line, consisting of the Mars
Jupiter, Saturn, etc., and which are ideal graf
carriers, have been temporarily laid up becaus
sof inability to secure cargoes This fleet alon
could move 1000, 900 bushels of grain a month
Nothing has yet been done in chartering, but
is understood boats offered for Septembe
&at ~ cents, and it is presumed are expectantl
waiting O 2-cent bid