The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-08-21
Wheat still In the balloon.

Minneapolis Chamber Of Commerce, Aug. I'll
!, The contsariness OF the wheat market was again
1 with liverpool cables higher By Nd and the
/ foreign news generally favorable to the price,
there was weaker tone here and lower figures
Z Later on the market hardened again and both
l. September and December advanced quickly Sep
ftember showing the greatest strength and gain
ling on December. Principally 1t was local IN
! decrease Of $4,000 IN elevator stocks for three
days, and cash wheat was drmsr due to this de-
Iicrease and to the showing OF only rs cars IN
1 the days receipts A car OF choice old NO
northern sold at &c oTer September. This was
Ehot the market price. Five cents over was the
going figure for No. l and Sc over for No 2
buyers willing to pay well for it. The
t Washburn-Crosby company also appeared as
buyer Of futures. taking probably 10000 bu
The natural inference to be drawn that
: there had been business in -four for future deliv
cry at prices based upon nav wheat and that
the wheat uy1ng was hedge against these -four
Il yet no material increase Of business could be
learned Of. The buying by the big millers was
considered important, not because OF the quan-
tity taken, which was no more than any one Of
a dozen Minneapolis firms might handle without
anything being thought about it, but because
If 1t really meant sales Of -four for future deliv
cry on new crop price basis, It was the first
important business of the kind and an indication
Of returning confidence on the part OF buyers
and Of willingness to stock up little With flour
e on the present basis for wheat.
Receipts light all around. Chicago got
400 cars more than last year, PIG against ue,
but other comparisons were not 80 large. Mime
apolls showed 26 and II, Duluth % and Al,
Winnipeg 81 and So, st. Louis 5000 blu and
$4,000, Kansas City 100000 and $4,000.
seip OF Slaughter s. Co., Chicago, Is back
from Europe. He believes the Russian crop will
4; be Of very poor quality and that English buy
ess Will have to come to America for wheat
Todny's early seaboard advices were of indif-
4, Serent inquiry and export sales to Europe
The current number Of Bradstreet's takes up
the export situation and says In conclusion:
with all allowances there Is offered total
supply Of $40, $50 900 bu, which after allowing
K for consumption, seed and finally for reserves
25,Goo, 600 bu larger at the end than at the be-
ginning Of the year-still leaves an available
supply fox export Of 24s, $1,000 bu. guam
THY 10000 600 blu larger than was exported
in the fiscal year 1866, and 100000 bu
larger than the record export year, 1901 -2*.rAs
e thing like the immense movement for export
manifested in July and August, 1901 has 50 far
been conspicuously lacking. In the six weeks
Of the present cereal year the shipments from
this country and Canada have only been about
Il. 100000 bu, whereas In the same period OF
6 1891 the exports were 41,54e,9o6 bu, or more
than three times this years total. There is
certainly nothing here to indicate any largo out
huw of American wheat to Europe or to show
tllat 1902 records OF total exports will be
!. eQlaled, let alone exceeded, while it Is inter-
esting to note that present prices are not far
above those ruling in the summer Of 1901.
"At the time mentioned great oversee
shortage appeared certain Today we have only
tangible to 80 upon, and certainly nothing like
the scramble for American wheat visible at that
81 time. In the absence OF any such demand as
was then witnessed and with the new spring
y wheat crop about to upon the market,
the prospect as to prices at present Is certainly
not comforting to farmers. and there are Ger.
tainly some OF them who will be obliged to
part with their wheat to meet pressing necessi-
/ TIES
primary receipts were ea9.0oo bu against
* b5S 600. Clearances, Id, 900.
i The weather. forecast: North and South Da
kota and Montana, showers; Minnesota, showers
and cooler southeast; Iowa. showers and cooler
Missouri. showers. cooler north; Illinois and In
diana, occasional showers tonight and Wednes
day, cooler north and CENTRAL Kansas, showers
sEd cooler; also In Nebraska; Wisconsin, show
ers, cooler; Michigan, showers and cooler.
c. H. Thornton OF Duluth issued the following
''The northwestern wheat crop will total 20,
E 100000 bu compared with POS, 600, 900 last yea,
H and my own estimate Of N2, 600, 900 last year
Is About 1900 900 Of the total will be durum
compared with $4,000, 600 in 1905, leaving ITO,
IN 100000 Of spring or bread wheat compared witt
900 In 1905 The quality Of this year
bread wheat crop will be spotted with consider
able quantities Of lightweight stuff and prob
ably slightly deficient in -four making qualities.