The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-03
MILLERS PAYING
$2.24 WHEAT
Farmers Receiving More Than
Fixed Price at South
western Points.

my pcNNCI 'Is'ii N''N
Government fixed prices for wheat de-
livered at Southwestern points. and 1t is
assumed that this premium ia being paid
by millers at various other points in the
country knowledge that more than !
cents a bushel higher than the Govern
ment price has been paid has led to mis-
taken theories regarding the transac-
tons. The fact that millers are inclined
to give farmers about s2.si bushel fer
No red wheat at st. Louis whereas
the Government basis is $2l1 does not
mean that the cost OF -four to the con-
Stunning public will be higher than the
Government II as decreed. The official
arrangement permits ml!ers TO pay
whatever rrice they choose for wheat.
but their selling basis must not exceed
IS cents a bushnl. or the equivalent ne
$l.1o a barrel above the Governments
fxed wheat price 1t is obvious there
fore. that millers who are paying the
premiums OF cents n bushel are op-
Grating at little or no margin of profit
in order TO keep their mills occupied
after the slow grinding OF the last sew
eral weeks, due to the wheat scarcity o.
the season just ended, or else these
millers are anxious to satisfy their GUS
toners by delivering new wheat -four as
soon as possible even though little or no
monetary gain IS had.
Naturally ut this time of the season
there is no pressure OF new winter wheat.
Harvesting weather has been perfect
since wheat cutting commenced. but
there Is still great deal to be done and
much Of the crop Ia yet TO be threshed.
while the question of movement from the
farm involves weeks. Therefore, even
though the winter wheat crop this year
will approximate COO. 900 900 bushels, ar
important farm movement cannot be
expected until mr. I month. and in the
meantime the mill interests who are
anxious to keep their plants going. or
satisfy customers rather than buy wheat
as chearly as possible by waiting for n
larger movement, are competing for the
present first run OF the new crop.
1t Is to be assumed that the con-
tinued agitation in Congress for
higher wheat prices will have more
or less influence on farmers, who will
cling to the hope OF n new schedule of
values even though the same hope pre-
vailed last season. and the farmers who
held back their wheat gained nothing but
in. instances, saw their grain deterorata
and also failed to convert their crop in.o
cash as rapidly because OF their policy.
CHICAGO. July 2.--Prospects that Can
ada may take larger quantity o; corn
-four In the near future gave an upward
swing to-day TO the corn market here.
Prices Closed firm. lss to &c. net higher,
with July $l.49hs to h.49N and Sep
TENDER Sl52a to sl.5eN Oats gained
4 shade 10 lc. In provisions the outcome
varied from 20. decline TO 15c. advance.
Announcement that by Government
orders. taking effect July II. the con-
sumption OF wheat in Canada would be
much curtatled formed the bass OF re-
ports that use OF corn az a substitute
might show big increase. Gossip was
| current also that stocks of corn -four in
Canada were light. Big premiums be-
| ing paid in excess OF the minimum price
| for new wheat in Southwest markets
| operated as an additional bullish factor.
At first, however. liberal receipts and
| favorable weather led to moderate de-
clnes, but only OF a transient character
! WHEAT-Ahviccs from the SoathwNs
| reported "a lively milling demand for the
| best grades of new wheat, for which the
| mills were willing 20 pay premiums o
| from to cents per bushel over the Gov
| eminent minimum price. There is a keer
| demand for fopr. but the movement o
| wheat has not inc-ansed materially ms vet
and the whole market Is not thorough n
adjusted to the new conditions, crop pros
| poets are apparently uninlpaircd and TIE
| trade Is preparing for an active season T.
| milling and there IL expected to be III
| cral supply OF nour for domestic consump
| tlon in the nenr future.
| CORN-Market showed irra undertNns
| and at the close OF the day was T. q i :. c
| net higher. In the local cash market tresl
| shelled No . yellow was quoted ~ sl.93A
| York.
| OATS-In the local cash mnrket prlcei
| were hrm; standard quoted at ssi- II SIC
| No white. sec; No. 3 white, Ss1Ssisc
No. white. BY 81 $50. fancy clippeJ
| whit, S9uscisc,, ordinary clipped wh'te
, Ssdsac all elevator.
RNE-Market outlet No . Western
Sl7?, cost and freight New York.
| BARLEN-Market steady Feeding
| te0H l.25. mailing, SL2Sf $50, cost aat
| freight New York.
/ HAY-.Market firm. 40. T. Sl.lGa |. 30
No. ., 81 3OTl.i0; No. 3, tini.iO; ship
| ping 500 SOC