The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-23
Duluth and the Foreign Buyers
Get Together on a
10o,00o-Bu Lot.
Millers, While Reporting Moder-
ate Sales, Find Conditions
Turning Better.
Less Favorable Crop Reports
from India and from
Argentine.

Minneapolis Chamber of Commerce, March rs.
Higher cables, colder weather in south central
winter wheat territory and lighter minneapolis
receipts put strength into wheat all around.
Peoria sent word of temperatures low enough to
make it uncertain about the crop. even with
some snow covering. Broomhall found a less
favorable condition III India, where III the CEN
trail provinces rain and hail has beaten the
crops, aud in kurrachee heavy rains have fallen.
causing much apprehension OF damage. line
trade usually looks for India to show her crop
losses in drought, and indeed 1t Is not long
since insufficient rain in India was a contribu-
ting cause Of general market frmness. The
country is one of extremes, however, with ref
erence to moisture, and has its alternate periods
of dry weather and torrential rains. The New
York Herald had a sensational report from ITS
Buenos Aires correspondent, giving details as 10
drought said to be doing great damage. The
situation is pronounced alarming. no rain having
fallen in almost three months and stock herders
are anxious. Their camps are said to present
a pitiable aspect. and if no rain comes heavy
livestock losses will soon be found. The soil is
said to be hard as stone. Without definite
knowledge as to the dates of interior reports
on which this Buenos Aires summary Is based,
1t is difficult to know just how seriously to
take it. It's effect in any case would naturally
appear with greatest force In the markets based
upon livestock, and traders in provisions are
watching it closest. This is not the time of
year for crop damage reports from Argentine,
but 1t Is the season of preparation, and OF
looking forward to the new crop. Drought In
Argentine. while not so serious at this time,
from the grain trade viewpoint IS neVeTtneiesS
a general influence for strength. Argentine
shipped last week 3. 536. 600 bu wheat compared
with 4.464. 900 bu a year ago. and while the
whole movement in the corresponding week of
last year was towards the United Kingdom, more
than half the present figures. or 1858, 600 bu,
represents wheat sent to continental Europe.
Hence Liverpool was strong on that as we'll.
and closed sd higher for the day. Other for
eign markets were up. Berlin and Budapest
each &c higher. Some talk Of a late spring In
the northwest was heard. This was prema-
ture. Spring is not late and there Is plenty of
- time to think about the acreage and the con-
ditions. Last year there was an extraordinarily
early spring and the year before 1T was early.
A. few days of warm weather will bring the
usual reports of preparation. of farmers getting
out into the fields and OF actual sowing or
wheat in the advanced places. and the mind
of the trade will again be back upon new crop
possibilities.
Cash demand was excellent at 1c over May
for No. 1 northern. New York found better ex-
port demand, altho principally for coarse grains.
Minnea polls will increase about 300. 900 bu fol
the week and Duluth promises an increase of
225, 600 bn. Minneapolis received $50 cars against
316. Chicago 5 against AZ. Duluth 3s against .
Other comparisons were 1928 and 81 at Winnipeg,
q. 1000 bu and $4,000 at st. Louis and 26,Oot
and 81. 900 hu at Kansas City.
A. D. Thompson of Duluth wired Sharp
Stephens that Ne 1 northern for export was
sold there on last nights prices. and that more
inquiry was in hand. In view OF Yesterday
figures to Daggett. showing Duluth and Liver
pool comparisons, and No. 1 northern severa
cents out of line for Liverpool sale. the repor
was interesting. 1t was concluded here tina
either THOMPSON did the business with the con
tinent or else that some Liverpool buyers Wen
alarmed enough over the India and Argentine
reports to come in and take a little. Should l
follow that any business of Importance wa
done. it would be Il bull card. and If the stuff
can be sold no one cares especially whethe
Liverpool takes it or 1t goes some other way
If Duluth can do business in No. 1 for expor
at present prices then there o"Eht to be som
foreign inquiry for -four before very long. C.. n
Thornton of Duluth turned up on the floor her
Just after the report of export sales at Dulut
came to- hand. On last nights comparatfv
prices, Mr.. Thornton said. he had figured tina
Duluth was at least a cent too high for an
had undoubtedly made a good sale. but it woul
probably represent the fortunate landing Of som
special business. and would not necessarily mea
that the Duluth market was on a free expor
basis for Liverpool.
Duluth was finally reported to have sol
100000 bu for export. Primary receipts wer
1916, 900 bu; year ago. 46S,0G0 clearance:
81. 900 bu.
Minneapolis and Chicago narrowed and q a
was the difference on some spreads.
For the week the clearances, according
Bradstreet's, were 2.293, 600 bu.
The Modern Miller says: 1.-The recent SNOW
storm extended as far south as Tennessee. Y,
the precipitation was light in localities in sout1
ern Illinois, southeastern Missouri and Kentuck.
where the winter wheat crop had insufficient pr
lection during the late freezing temperatur
No injurious effects, however, are reported
yet, as the condition Of the crop will not
revealed until growing weather prevails"