Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-05-27

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market. Chicago May broke 8 3.A@
&c net. largely because the leading
pulls stepped aside and failed to take
\ heavy carlot deliveries after Tues
days heavy tenders. A
deliveries at Chicago for the week
were more than 3,So0,o00' bushels
ana With their etocks$of about $780,
600 bushels and more wheat in transit.
q total OF more than TO- OO,000
bushels nae been piled up in that
Local deliveries were only $4,000
bushels. mostly put out on Friday.
put longs relieved the tension here
in May was moderate, several sessions
going an hour or more without trades,
Open interest remaining is a, guess,
but the market does not act as II 1t
were heavy. :
May bulged sharply on Tuesday.'
selling up a lao at Chicago and &c
here: The mex day saw a setback
just 1c larger than the previous i'd
vance. The leading cash interest in
the east which had been taking in
the wheat deliveries suddenly ceased
stopping the deliveries and the result
was the wheat went to scattered
houses and much was re-delivered
following sales Of May by those who
did not want to take the risks OF de-
murragc charges on track, with cie-.
vatori space practically exhausted and
cash demand slow. Further decline
and only partial, recoveries followed
later In the week.. Chicago May was
only &c under Kansas City, against
~ i-2c over before the slump. Most
Of the wheat delivered came from
Kansas City, st. Louis and Omaha.
= Export and domestic cash neWsSwaS
not inspiring to bulls, and general
run of crop news was favorable. ssRe-
ports from the northwest indicate the.
best start In years on an average, with
cool, showery weather conducive TO a
sturdy plant at the outset of Saths
kota. and Montana which have been
dry in recent years report ample
moisture for some time to GOMEZ In
the southwest the bad spots have de-
veloped. slowly in western Kansas.
with weeds and. rank growth reported
there and in some other sections. Adj
vance statement from Goodman the
last of the week indicated little
change in the winter. wheat croR
promise for the June 1aestimates.sHiS
guess last month was low, however,
Shows estimate coming considerably
nearer the mark Of government fig
ures. mn ..szs -.
May contracts are evened up Mer-
chandising Of the big Chicago stocks
may be a factor. New wheat Is only
80 days away, with the crop heading
out as far north as central Indiana
n Nebraska. Modern Miller Rtum-
mary Friday said Oklahoma reports
are good
Weather and crop news promise to
rule and without q hot weather scare
the impending hedging weight might
be anticipated in winter wheat mar
kets.s& This will affect local pisces,
although the strong cash, positionsdue
to light receipts will maintain premi-
unns. Much will depend Locally on
character Of the expected revival OF
holding OF awaiting the passing OF
May wheat. Demand continues only
for pressing needs ON, expectations Of
lower prices later on. Mill. capacity
in operation holds near.s40. per cent.
Local cash wheat premiums. were
shaded 13sc during the week. Top
No. 1 dark northern was Soc over
July, with ordinary down to 13c over
and best premiums on other grades
were &c less for each grade, with light
weight or soft spring relatively
easier. Durum held we'll, ruling SO
1Sc ove Duluth July for No. l. am
Der and July to 13c over for No. Il
mixed. Winter wheat was weaker.
with much cheaper Kansas and@Ne-
braska wheat forcing Montana No. /
dark hard 1@zc lower to lac 17cove.
July. SryeE
at 100000 bushels and IL m~oroecar-
lots at Chicago get into store may be
smaller again This week. Worlds
gain Of 100000 In Europe and ahoat
partly onsetting heavy North.Ameri-
can shrinkage, mainly Canadian.
Fort William and Port Arthur. stocks,
however, still are 27,700, 900 busheia,
against 1900. 600 bushels a. year ago.
Winnipeg receiptA.S continued large
and their May was 2 3-4@3calower
and July $50 UNDER the cash month.
Liverpool moved little throughout the
week, but trend was lower on fair
Buenos Aires decline and American
weakness. Export sales for the week
were around 2,0oe.0e0 bushels. April
Official export figures Of United States
wheat were small at 1o.ooo.ooN BUSH
Coarse grains held within a,moder-
late price spread, moving fractional
Ily&up or downrwtth wheat. Current
cash demand vas about sufbAent to
take care Of moderate receipts. Coun-
try offerings Of corn increased inythe
leading surplus states, causing
periodic ease at Chicago, and country
o"V w. AAOI0 SSNSA0A ~ SAS
northwest. shipping demand was
fairly good. however, with enough
for export to take the slack. out of
the market at times. E6pecteds de-
crease in Acreage Of corn and recog-
nizedf reduction'in oats IS a result OF
the late season, together with rela.
lively low prices, stirred fair invest
ment demand and liquidatng and
Hedging sales were we'll taken. s+.
July corn eased q 3-Sc fnEMinne-
lapolis and July oat1 were 7-Sc lower.
May deliveries held well. Rye broke
sharply on. bright crop prospects. with
indications Of an early movement.
Friday and. July 4 1-2c lower. Mo-
9 spot rye held Q 06c over ,Iuly.
Thereswas little change in barley fu-,
lures and cash wa unchanged to 10
lower atS530s4c.. s5
Weak3Argentine markets, q slow
down inaderaandsf for oil and meal and
scattered liquidation found demand
for futures slow and 1.206o
decline resulted. Ss Buenos Aires Was
on more ffCfushers paid the same TO,
IL more for spot seed, the late trad
INF basis being 1c over July tos2c un-
BANK CoNDITION2s !
NeWsssYork. May z7.--yThebSs actual
condition OF the clearing house banks
and trust companies for the Meelt
4 hnfAb 4 4 Tn