The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-02
Bradstreet Notes . Gain in Stocks
of 100000 Blu. for the
Week.
Increased Duluth Receipts and
Good Weather Also Weaken
Prices.
Liverpool Comes Lower-Jones
Stands on His Wheat
Estimate.


price back upon them soon after the opening
a year ago the increase was 1852. 900 bu, hence
today's figures looked big. Receipts Of TT cars ,
against SO at Duluth had already weakened |
the market a little, altho there was nothing at
all weakening in the total showing, for Mime.
apolis had only $40 cars against GAS chicago VI
So coo bu against 90, 900, and Kansas City $1,000
against 2O3,0OO The pit was IN the selling
mood, however, for the weather was better ana
reports coming in to Minneapolis suggested
heavier movement Of grain in the near future
It Is not only that the North Dakota railroads
are getting after the stuff but the wet country
in Minnesota and South Dakota, where the coun-
try roads have been bad and farmers grain
deliveries necessarily light, Is getting INTO
better shape and more grain IS ptom ,setr ZOE
Liverpool also disappointed the bulls by losing
the advance Of yesterday, opening easy ana
closing ss@Ad lower. In chicago valentine
was q big trader, but just what he was doing
was not easy to determine. There was very
heavy selling and nearly every prominent local
house had som eorders from Chicago 70 sen
terday, of to 74Ac and looked weak at that
figure, altho checked there by covering OF pit
shorts and buyers against puts. Nay Iron 15om
and looked weak and lower, altho checked with
December.
opening, with values Va higher being inhu-
enced by the frmer American cables and a bet
. ter demand for cargoes. On the advance, how
ever, there liberal offerings W ich prompted
realizing and the market eased sharply. losing
3ad. There poor outside support. Corn was
quiet, with values unchanged. The market was
entirely neglected.,
The forecast is generally favorable for tho
northwest, reading follows: nlinois-Eair,
warmer tonight and Wednesday, except rain ex-
treme south. Indiana, Lower Michigan, Wiscon-
SIN Iowa. Nebraska and Kansas-Fair and
tonight and Wednesday: Upper Micht-
gan-Fair and warmer tonight, "Wednesday
and Wednesday, warmer east tonight. Missouri
Fair tonight and Wednesday, except rain ex-
treme southeast, warmer. South Dakota-Eair
tonight, warmer east Wednesday, partly cloudy.
North Dakota-Showers tonight and Wednesday.
Montana-showers tonight and Wednesday.
primary receipts, i, 2se, 600 bu against 1861
600 bu. Clearances 10000 bu. including 1900
brls -four.
r. v. Jones said today regarding the various
estimates Of the northwest wheat crops THE
trade, with few notable exceptions. holds to
an overestmate Of the orthwest wheat crop at
100000, 900 Blu, and majority opinion places the
yield, including durum, at 175, 900, 900 to 20O,-
100000 bu. It is with no spirit Of stubbornness
that my personal opinion still holds for the
23O OOO, 900 bu. I claim no superiority Of judg-
ment on yields Others except that l see
much more territory than any other individual
who estimates yields. A majority Of those who
estimate the lowest result this year have not
been out OF Minneapolis. The complaint is COM
mon that yields disappointing. 1t happens
often that yields disappointing to farmers,
but 1 may have disagreed with them from the
start. Let one leading county In Minnesota
of disappointing yields I made inquiry OF a
miller in the county and he replied: Yields are
very Disappointing. What do you mean by
that? Well, expected % to % bu average
and are getting only II Blu average I gave
this county in my August estimate only 16 blu
average so the yield is not disappointing to
me, but is in fact bushel gain. There has
never been a year Of as much 30 to 40-bu wheat
as this year, but the impression has gone out
that the Jones report Is much too high, be-
cause parts of Minnesota and the Red River val
Law showing only a to 10 bu. and those
yields are being emphasized. In my report I
included 100000 In Minnesota at bu
and LOCO, 900 in North Dakota at the same.
This disposes Of 2,0O0, 900 acres OF wheat run
ming from to 10 blu.
'"There damage after my estimate was
made of perhaps 10000, 600 Blu. but this is not
enough to warrant change OF estimate have
over 800 threshings Of 20 to IS bu, with only
small part Of the crop threshe1. We need
an average of only 10 bu. The great bulk OF
wheat Is average yield. Only the extremes
but Is IT bu, which would be above the average
1t is because of the fact that the yield depends
average Of all Of the yields rather thar
the average Of picked lot of yields that we
are without information today that calls for
change Of the 23O, 900, 900 bu estimate, notw1th
standing loss Of 10, DOC, 900 bp since that esti
mate was made, the credit for which are
entitled to-
It is reported on the floor that the Armour
Grain company refused to accept the heavy
purchases of wheat which Valentine made early
amounting to nearly 2,o00,oo blu, and ordered
put down to them. This fact caused further
selling by the crowd and broke prices dow
again, the market closing weak.