The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-22
Wheat slipped little, but did not fall

funneapolls CnnmDer or commerce, Sept. o.
The Jones-Inglis estimate Of three billion bush
ell corn crop took the edge of the bull market
this, morning and prices turned easier all around
In corn and oats declines were moderate, and
in wheat only about 1ac had been taken of when
the session was half over. Conditions in the
early part, however, were such that sentiment
seemed forming for another advance, and this
was checked and the market was set back a
peg. Receipts were again very Light, only TOO
cars in Minneapolis and Duluth against 1O49
"a year ago. Reports came In Of damage to
crops from recent rains. James De Veau had
letters from west and western central South Da-
lkota making the situation unfavorable owing to
Excessive rains Other advices were Of the same
mature. There was opportunity for the bulls to
put prices back to yesterdays higher level but
instead the market went little lower.
The forecast Is for generally fair weather over
Sunday.
The foreign news was about stand-otf
Kneeland Of Chicago had an Argentine cable
confirming locust damage, but Liverpool was
ed lower and Reuters news agency had advices
of good rains in the PunJaub, which, it is
said, will liberate much Indian wheat for ex-
port.
Broomhall estimates worlds wheat shipments
at 1O,SOO,0 coo blu. There will be a moderate
change in the quantity Of breadstutfs on pas
sage. :
The weather map showed clear skies over all
the grain belt, with scattered traces Of rain in
Iowa, Illinois and the Ohio valley; temperatures
seasonable. The forecast: Illinois. Indiana and
Wisconsin,, fair and cooler tonight. Sunday fair;
upper and lower Michigan, cooler tonight, with
showers east, fair vest Iowa and Missouri. fair
and cooler; Minnesota. North Dakota, South Da-
kota and Montana, fair; Nebraska and Kansas
fair tonight ard Sunday, cooler.
Minneapolis elevator stocks decreased 1853, 225
BIZ for the week. leaving 2,13S,957 bu here.
For one day since the decrease Is $4,000 bu
Minneapolis received 265 cars today against 504,
Chicago II against SO, Duluth AL against 454
Winnipeg sol 2S5 against 319. Kansas City re-
Louis 10000 against $4,000.
Primary receipts were 97s000 bu against
1.354,U}o last year: Clearances, 2eeooo bu.
The following is from the Kenmare News:
'Al thrcshing outfits in Ward county are now
busily engaged. With favorable weather and
the large number of machines in the county, we
middle Of October Some Of the farmers ars
coming In already with the new wheat, and
they report the crop as running from 16 to Is
bu per acre for wheat. We have not yet
heard Of any durum being threshold The Ken
mare roller mills made several tons Of flour from
the new crop, and state that the wheat is In
the best condition and will produce much bet.
ter quality Of flour this year. This can be Eat
tributed to the fact that the wheat is very hard
and in dry condition From various elevators
we get the following reports this week: Cargill
from Is to 10 bu. Osborne Mcmillan, ]. e.
Showers buyer-Wheat running from IL to %
bu and is good grade. W. r. McGleen says
rneat running from 16 to % bu. Q. Ireys,
Melby buyer-Wheat running from 10 to rs bu
in the districts north from Kenmare and 16 to &C
south and west from here. W. Putnam-Some
wheat received running as low as ~ bu, other
returning at % Blu, most Of that coming in is
running from 10 to 20 bu. Royal Elevator
W. F. Rhea-Those from whom have bough,
report wheat as running from 1e to % bu
Farmers Elevator, John Purser buyer-Whea
runs from 16 to 10 bu.'
Jones, in the Commercial West, stands pat or
his wheat estimate. He says: 1.-The heavy rains
in Minnesota at wheat harvest reduced consider
ably the prospective yield Of the state. AS {
result the hasty conclusion is being drawn tina
the higher estimates Of yield made in advance
of the storms will not be borne out. The esti
mate Of the Commercial West was for cro]
of 230, 100000 bu in the three states. This wa
based on IA, 900, 900 acres, considerable tncreas
over the preceding year. This increase was II
part new acreage seeded to durum. The blue
: stem acreage was not changed much. The dur
um Is yielding much heavier than blue sten
and it therefore becomes bumper wheat yield
ing in the main from % to IS blu, with an oc
oastonal extreme of yield above or below thi
range. The yield last year was about 1876,
100000 bu, and there were many poor dis
tricts and only about 20, 600, GOO bu OF durum
The estimate of 100000 bu this year call
for 35,0Oo 900 more than last year. With tn
threshing returns at hand, the Commercial Yves
believes the increase will be realized regardless
Of the damage from storms. In any case 1t
too early to reach conclusion that 23O. 900, 90
is now too high, for the reason that the Sout
Dakota estimate at 100000 was conservative
possibly enough to Offset the loss in Minnesota
thus far above the estimated average yield fo
that state. The indications that the est
Z mated average Of 16 Blu will hold easily !
North Dakota due to the large acreage Of dul
um. We expect, therefore, to see the northwes
estimate Of $50, 900, 900 bu made good"