The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-02
HIGHER WHEAT
PRICES LIKELY.
But There Are Still Some OBJ
staclcs to BE Gotten
Rid OF.
THE DEFICIENCY IN RUSSIA.
As Compared with Last Year.
1t Is 10000, 900 Bushels.
Corn Cheaper.

Especial 10 The Times-Dispatch.)

Special 10 Tie Times Dlspatch.)
r. CHICAGO, October Current world
conditions seem to be much In favor Of
higher prices for American wheat, but
there are obstacles iii the way. THUS
far 1t has been Impossible to focus the
attention OF foreign consumers long
enough to convince them that they should
come here for their bread stufrs. They
don't have to be convinced now, and
SO long rs they can MI present require
ments from home crops or can buy
wheat from Manitoba at seven cents
cheaper than It can be purchased here
all the arguments about d Russian short
age come to naught. rs h II IA 5g 81.
There nny5come d time when Russia
will be on the verge OF famine, and
when there Will be n government prohi-
billion against any further expectation
of wheat. but the fact remains that
wheat ls being shipped out of that scouil-
try now and that other nations are taxi
ing care OF current needs by buying
there. 435 ~ s
Russian Deficiency.
u Latest of',cial reports make the RUS
Sian deficiency as compared with last
years supply 1oo.00o,0oO Those are
very important figures, but how much
they are destined to mean as price
makers OF wheat in this country is a
dcbatable question that cannot be de-.
1cided, because there are so many fu-
turc conditions entering into the equa--
ton. Thcreais crop coming along from
Argentine. It may be large one, II
the locusts do not ravage It too severe
:ly. The acreage there Is much larger
than that o. Il year ago, and with fair
luck, the yield should be bigger, grant
ling considerable Roadway Is made by
the locust pest. The exportable surplus
from Argentine will stand In the way
at successful American competition
abroad. ;55{ ~ u 4l
The 75,ooo,ooO bushels generally .ac-i
credited 4 to Canada for export adds an
other important obstacle to American
sal abroad. " Australia also is to be
rcckoned with in fthe course Of time.
Just now the shipments from the Ar
egntine country are decreasing, and
those from india and Australia are
small. 3f 55s'i yl35 I'll
Support Of Values.
Whether or not conditions abroad are
destined to- help prices materially in
this country before the first Of the year,
those same conditions, actual and pros
pective, nre the main support Of values!
Take their influence away, and IT is
hard Ito, tell what would happen to the
markets here. There Is not3n great deal
In the home situation Just now to give
strength There are evidences that the
Immense demand for wheat by mlllers
all over the country. has about run Its
course for the time and that the cry
for flour has been needed well up to
tho safety line.
Week before last according to the
Northwestern Miller, the mills of Min
5nea polls turned out the biggest consign-
ment OF floul. for a like period for over
a year. Many OF the mills worked Sum
day and nights. Grinding last week has
been on a similar scale, and sales have
been large at the prices asked. Stocks
In the cast are reported light in places,
but on the whole, there Is a tendency
toward an abrldgement OF the flour
trade. 5s 5 l55 "a Hi
The Northwest Crop.
An authority who caplo near hitting
or the northwest wheat crop a year ago
now estimates the yield Of tho Daltotas
and Minnesota at 2l2,000,00 bushels. OF
which $4,000, 900 to 20. 100000 bushels Is
durum wheat. He makes a larger acre
age than the government reports gives.
Country receipts In the northwest have
been enormous, and there Is said to pc
larger accumulation at stations "a
in cars than is indicated In the car
receipts. Minneapolis estimates an In
crease in wheat stocks for the week OF
about 100000 bushels and Duluth an
increase of 100000 bushels
= If present prices are maintained ana
foreign advices hold out ultimate rather
than immediate hopes, there is llkcly 10
be an Increased movement Of winter
wheat in tho southwest. The time be-
tween the seeding Of the new crop and
the gathering OF the corn WILL give the
farmer opportunity to market his wheat,
and favorable weather, with good coun-
try roads, is counted on to enlarge Do
liyeres to primary markets, Threshing
from the stack Is now general In that
region. H
There are still strong specula tive IN
forests at work in the wheat market,
with bullsh sentiments. What the un-
derourront Of thought is or what pro-
gramme has been mapped out Is for the
speculntor to guess, but one may not
go far wrong In predicting that the
European shortage Is to be worked TO
tho maximum In tho coming weeks
Fight Over Corn.
Corn Is at tho mercy OF n tug of war
contest between powerful bull and
bear interests, and the lesser lights nro
content to look OIL curlously and confne
their speculation MS to the outcome Of
the main battle,
Looking over tho cornfelds, reading
tho weather maps and digesting the
prospects OF an unimpaired crop OF un-
parallelcd magnitude, tho bear side
seems to have the better OF tho nrgu-
ment. The receipts OF old corn are not
heavy, but It will be only short time
until the new crop can be drawn upon
for commercial needs,
The general opinion is that corn VIII
be much cheaper, because 1t Ia not be-
lieved that any bull faction Is powerful
enough to overcome the brilliant crop
prospects. There Is already some mar
keting of new corn, and fully 81 per
cent. OF tho ontire crop Is out OF the
way of frost damage. Wet weather may
fi,,,r,a ir tha quality and prOmDt large