The Saint Paul globe., 1905-01-02
STORM INTERRUPTS
WIRE SERVICE
A ScaIpina Market With Rapid
Fluctuations in Prices
Closing Strong

Minneapolis Chamber of Commerce,
Dec. 3l.-The week in the wheat pit has
been very active with rapid price changes.
Foreign markets have not followed Amer
lean advances, but traders have got so
used to this that it causes no comment
and has practically no effect on prices,
as it is now generally known that we
have no wheat for export; in fact, it
would not be surprising if we had to i'm
port wheat before another crop was har-
vested. The government report issued
this week was ON it's face rather bearish,
showing crop of both winter and spring
wheat of 1000, 900 bushels, measured,
when the trade was expecting and figur-
100000, O00
One thing about. this years crop that
the average trader does not figure on and
leaves out of his calcula tions, especially
the one with bearish tendencies, and that
is that this years crop is very deficient in
weight as compared with other crops rails
ed in the past. A buShel OF wheat must
weigh SO pounds; this year the average
will not be much if any better than SO
pounds for both spring and winter wheat,
and this would give us a weighed crop
of less than 500,000,000 bushels. The gov
ernment report places the Minnesota av-
and South Dakota at SO pounds. Winter
wheat cannot be over 81, while the spring
wheat of other states is somewhat better
than this, making a general average in
the neighborhood of 53 pounds
This is certainly bullish enough to suit
the most pronounced bull, but we must
hot forget IndI In1S mas been parity QlS-
counted already by the advance in prices
since last July. The amount of millable
wheat raised by the different states the
government is silent on, saying that it
Canot draw line on the millable and un-
millable wheat. This is therefore left to
the trader and commission men to figure
out on any basis they wish to. A close in
spection of the reports of the different
primary receiving points will show that
but very small portion of it is of con-
tract grade and this grade must be had to
be mixed with the lower grades to make
anything like a good -four There are nu-
merous complaints coming from buyers
and jobbers of flour that the flour. made
from low. grade wheat is deficient in
been forced to go to Canada to secure
choice wheat for mixing purposes.
The cash wheat markets are very strong
show greater advance in cash wheat
than in the futures. Milers are buying
wheat in Kansas City and Canada. and
better than anyone else whether they will
have enough grain to keep them running
from now until another crop, and are lay
ing up stocks for the time when the
Northwestern receipts will not be able to
furnish them the required amount for
grinding Receipts here are already be-
The increase in Minneapolis stocks for
the week were but $1,000 bushels. whereas
they have been increasing at the rate of
part of October The storm, of course,
had something to do with the small in
crease this week, but without this storm
it is doubtful if they would have shown
an increase of over 100000 bushels.
F. W. Thompson, of Montreal, manag-
ing director of the Ogilvie Milling COM
pany, with mills throughout the Dominion
OF Canada, in message to Knight DON
nelly. said: II wired Yesterday that it is
expected that Manitoba wheat will sell
for $1.30 per bushel at Fort William be-
fore May. understand the Ontario crop
has turned out very much smaller than
all previous estimates-namely, 5000 600
bushels, against 10000, 600 bushels last
year. This means the Ontario millers
will require to grind about 10000, 600
bushels of Manitoba wheat From this it
would appear that the balance of the
wheat now held will be needed for home