The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-05-17
THE FLUCTUATIONS
Of THE MARKET
Beerbohm Makes Review of
the Wheat Situation
in Detail.

IN the earlier days of this week
wheat markets We're effected by fen
changes in condition of the CROP or
the ground. Prices we're affected
mainly by tn ordinary mutations a
trade. with little Of crop changes IL
encourage activity. Among tho more
sisnlhcant conditions. was the rep VI,
ma. mlllers were buying quite fcc.!.
OF the cash wheat for current use
with more liberal supplies for for.
ward consumption. This showed a
greater degree of confidence in pres.
ent values n to an extent was an
ana IN ~steadying a tendency to specu.
iatlve decline in the general market
of this country.
Ihere are pit traders so accustoin.
ed to change in their operations from
one side to another and back again. ia
the same. holding to neither for any
considerable time, that their opinion
OF the trend of the market goes from
interest. This feature was noticeable
in the later bulge and brought to o
tufn a strong upward movement and
became a marked appearance in the
later decline. Recent speculative busi-
ness in grain partook much of the DO
sition described and floating stocks
changed often in ownership. while
others were steadily held for further
oeNelopment of h new crops.
The Wheat Position.
Beerbohm-Under the influence of
strong and advancing markets in
America Caused by continued unfa-
Noranie winter wheat crop reports)
and the closing of the Dardenelles.
therby preventing steamers from RUS.
STA and the Danube reaching their
destinations, the European markets
were also very firm in tone in the
early part of the week, and prices fur
ther improved Cd to Cd per ar. for
white wheats. quite a considerable
trade being done in argoes both for
the U. K. and the continent. The very
large shipments and liberal imports,
Doth here and on the continent, were
entirely ignored for the time being,
but subsequently the feeling became
much quieter. and Plate wheats were
offered freely, in some cases at prices
rather below last weeks level. The
tone at the close yesterday was fair
~ steady, although there was little
bidding.
Whilst the very large quantity af1oat
promises ample supplies for some time
to come, it is fairly certain also that
shipments in the next two months will
be equal to the requirements. After
the present month the exports from
Australia are expected to be on quite
moderate to small lines; agricultural
conditions are not at all favorable for
sowings at the present time, the
weather having been too dry, and un-
less there is a speedy change for the
better, farmers r expected to hold
the balanc of their surplus very firm
ly against future e%ventualities. From
the Argentine and also from Canada,
on the other hand, exports are certain
10 De on a large scale, and. in addition,
India is also expected to ship freely a
little later on. so that only moderate
quantities will be required from Rou-
mania and Russia.
Port stocks in the U. X. increased
to a fair extent last week, and are like
ly to continue increasing for some
time; English wheat. now that spring
sowings are about completed, will
probably also be in Somewhat better
supply. The market. under the in
fuence of small shipments. and conse-
quentlY small imports in the first three
month Of this year, ruled very firm,
with prices steadily advancing. until
they have reached what nay be called
a fairly high level. Conditions have
now changed; as mentioned above,
in the near future will be equal to re-
cuirements. and the course Of prices
will. in all probability. depend more
on the prospects and progress Of the
next crops than on anything else.
\ Year Ago Today.
Mpls. May wheat closed at 81 ssh.
Mpls. May wheat ranged from 81
Ia 9S IA.
Mpls. cash corr sold at 45@53 112.
Mpls. shipments Of -four were &c.
504 bbls.
Chicago May wheat closed at "a rs.
Chicago July wheat closed at sS IS.
Chicago July corn closed at SO $50
1-2: July oats closed at "a Ia.
Track wheat closed in Mpls. at
s1.O1 is for l hard: 90 5-S@$1.O0-
SIS for ] northern; 90 $1,000 1-8 for
. northern.
Mpls. receipts of hay were 80 tons
selling at s5.5o@19.50 for good to
choice.
The state grain inspection showed 1
car l hard: 65 cars 1 northern; So
cars ? northern; 9 cars No. 8; no cars
No. 4; Z cars rejected; 2 cars no grade.