The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-21
Interesting Analysis Of Govern
ment Final Figures for the
1905 Crop.
Dizziness in the Market and Prices
Still in Very Narrow
Range. III 49,. ~
Increase of a Million Here-The
Flour Mills Gradually Clos
ing Down.

MINNEAPOLIS Chamber of Commerce. Dec 21.-
The bulls were surprised and greatly disappon,
ed this morning to see wheat open weak anu
May sell down to s5hc early. 1t was thought
that the snow over the northwest might stlmu.
late trade little and break the market out OF
its extreme dizziness. The contrary was the case.
The snowfall was not heavy enough 10 sus-
gest much interference with the move
ment of grain to market. Local ele7a-
Tor stocks Increased lOooooo nu 1of hVe uass
Receipts here slightly above year ago, oo'
cars against 492. The mills We're reported CLOS
ing for a probable ten-day period rather than
the ovcr-Christmas four-day layoff talked OF
yesterday, and cash demand was slow No. l
northern making relative to May and selling
at &C under. The foreign markets were dull,
Liverpool was weak at the close. Paris lac on
Antwerp 9sc and Budapest Ac lower and Ber-
lin alone 1sc higher. The various reports COW
ering the crops in our country were favor
able. the Price Current finding no change in win
ter wheat and the high promise fully maintained
The government report came out late yesterday
with final figures for 1908, and they were big.
Wheat is put at 692O0OO0o bu and corn at
2 707 900, 600 bu. the latter being especially bear
ish. The market was dull and heavy In all the
pits.
Duluth got 1928 against so, Chicago 20
against IA. Winnipeg had 200 against 159. st.
Louis receipts were $4,000 bu against $1,000,
and Kansas City So 600 against $4,000.
John lnglis and II. V. Jones make this state
ment to h e our al today the United
States wheat crop: 1--WE have been awaiting
final government figures wheat production be-
fore submitting conclusions to the wheat
crop. In, August estimated the wheat crop of
the United States at 6A. 900. 900 blu against $685.
100000 by the government in October. During
the fall have made investigation of results
and find that the basis of leading mill and
elevator opinion in the several states that our
figures We're too high at ga, 100000. The gov
ernment's final figures, issued yesterday In
crease the October estimate to 694 900 OOO while
state results indicate not above 615 900 OOO and
more conservative opinion suggests 100000, 900.
In our judgment. the government makes two i'm
portsnt errors. They report the yield by meas
ure. then by applying their weight figures their
yield of 694. 100000 should be reduced on winter
12,0Oo. 900 and on spring 100000 bu, bringing
the total down to &C., 600. We estimate an over
estimate Of Writer acreage by the government
of 10000, and of spring 100000 This calls
for further reduction Of winter wheat Of q .OOG,-
600 bu and Of spring $4,000 900 total of 49,
100000 or only 1000. 900 more than our August
figures. The government estimate is too high
On the states of California, Texas Oklahoma Ne
vada. South Dakota, Iowa and the Ohio valley.
On the basis of 615 0OOO 900 bu and not to ex-
coed &c. ZOO. 600 brought July 1. the country
has 665, 100000 bu Of wheat market and co.
100000 will be carrier July next, leaving
available for Clio, 900, 900. The United States
wants 5OO.00O,0OO and has exported 40 OO0, 900,
leaving 75,0O0,0O0 for export to July L."
Primary receipts 50, bu against 774,. Clear
Hnces wheat and flour 245,OO bu.