The Minneapolis journal., 1906-08-10
Market carries two big weights Il
So spring and winter wheat.

Is Minneapolis Chamber of Commerce, Aug. To-
I Few traders cared to venture far in me Wheat
s market in the early part Of the day because OF
the government report to come out later and the
uncertainty that always attaches to such
bulletin. The bears, especially the chicago pear
! crowd argued that there was no uncertainty
about it. and that the report would be very
j sbearish On winter wheat beyond Deradventure.
!. Nevertheless there was the possibility that II
/ might not be 50 bearish after all, and the con-
sideration that even II it raised the figures on
winter wheat the thing might be found to be
sDartly discounted. Hence timidity about selling
wheat On the other hand the rumors OF long
September wheat still to be liquidated were stu
Z heard, and 1t was o reasonable suppos1tion that
[ If the report was beartsh the Chicago bears
would immediately attack the market in the
+ hope of driving 1t OF and loosening some of the
j long stuff. Hence cautousness the buying
\ side. The fact that Liverpool cables were
! hrm against decline OF yesterday, and that
/ the close was sd higher, suggested export bust
: ness and Strengthening, but the Chicago
i bears, On the alert and not willing to let
1 o single point escape thsm, were quick to coun-
i seract this, and the statisticians sent out mes
/. business really means nothing, and that we
I can sell go to 76 loads a day and still not
exhaust surplus. Of such state
= ment must be based upon maximum crop posi-
i brities, and late developments have been
+ somewhat less favorable, it may be that the
extreme optimism relative to the big exportable
& surplus will not turn out quite up to the mark.
& It is true there is much wheat in sight to be
S sold abroad, but 80 to 7b loads day. 4so, 900
: to 600, 900 bu, would be a pretty good export
business after ALL: and If 1T were certainty
the present level Of prices there would be little
1 hesitation in predicting firm and steady mar
ket.
= 4 local decrease of 1850 900 bu is promised
for the week In elevator stocks. Chicago will
show increase estimated by at 1,2OO.-
coo bu. by others at 100000 bu. Chicago is
uncertain in this respect. There is enough
IVheat moving in there to give big increase,
but much is also moving out. Today Chicago
got 449 against 1856, Duluth 20 against 81,
Minneapolis $50 against 1se, Winnipeg 81
against G.
= Some more reports were IN from the storm
swept district. Whallon had the following:
day (eth) and the grain is fat; for every 100
acres there Is about 25 acres to cut yet. Wood
Lake said: 1t continues to rain, and harvesting
lis very much delayed. The grain is down in
dering and rainy. The ground. is soft and It is
hard for the binders to move It. Ashton.
{: S. D., said: Old land that was plowed is too
soft to run the binders on. Some say the very
ripe fields badly damaged. Other farmers
say there will be delay In harvesting, but no
very serious damage
winter wheat crop Of about 4es, ,4aO, 900 bu, OF
tan average Of 1877 bu per acre, compared
with 143 bu per acre last year. This prelimi-
mary estimate Of the yield Of winter wheat and
{ the estimated acreage on which it Is based
iare subject to such revision and correction when
1.-THE final estimates of the bureau made next
December as may be found proper thru ilvostt-
i cations now IN progress.
The average condition Of spring wheat on
Aug. 1 was $50 as compared with Ola last
snonth, S9.2 on Aug. 1, 1905, s7.5 at the cor
,sresponding date In 1904. and a tenyear average
& sof 50.
- The condition Of corn on Aug. was sS1
as compared with s7.b last month, 80 on Aug
I 1, 1905 S73 at the corresponding date In 1904
and ten-yeaP average Of "a.
@Es The average condition Of the oats crop or
Sti Aug. 1 was s2.s as compared with "a last
i Il .tEmonth, 90s Aug. L. 1905. s8e on the cor
/. responding date in 1904 and ten-year average
: Rof Sa3. The proportion Of the oats crop OF
last year still in the hands Of farmers IL estt
u. mated II per cent compared with go pei
cent Of the crop Of 1904 in farmers hands one
year ago, 54 per cent Of the crop of 1908 il
; farmers hands two years ago. and ten-yeal
I average Of 7.2 per cent
fss The average condition Of barley on Aug
/ was 90.9 against e25 one month ago, 1913 or
Ii, Aug. j. 1905, s9.1 at the corresponding date IL
1904, and ten-year average Of s5.3
a5i The average condition Of rye on Aug. was
E 90.S compared with e1.3 one month ago. 92f
& Aug. 1, 1906, e1-s at the corresponding date
& In 1904. and a ten-year average Of 9S2.
A Jackson's figures on the government repor,
!. are: Winter wheat, 4s5. 7O4 600 bu; spring
wheat. 273 1885, 900; combined spring and win
ter, 759, ,489,Ooos corn, 2e94 coo, ,OOO oats, SOL,
s 600, 900.
Ei with $4,000 a year ago. Clearances, IA, 900.
8si trade gasped at the winter wheat figures Jone
I. was considered bearish and came in for som,
criticism in his early estimate of 100000 OO
bu. but the eovernment rnakes r. do2 oOO Ooo