Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-12-02

covery from In opening break in wheat
on weak cables was the result Of heavy
cables reducing the estimated Argentine
surplus were a prime factor, in contih-
ling the rally. Congestion u Chicago
4 nee Winnipes en al, str seIpaa. in r ssse T Xhsa i
arge export business up to ThanksgiY-
ng, when demand decreased. with a. lit
lie reselling by profit takers. Washing
on reports of proposed aid to the farm
potential bull factor.
On the other hand the car situation
was temporary relief in some parts Of
the northwest. Cash premiums eased
1903 cents in the local market. reflect
ing a spotted flour demand. 1.-THE
City December wheat eased 10 cents
under Chicago and Omaha within l cent
OF q shipping basis to Chicago. This
indicated an unhealthy condition in so
while smaller Kansas markets reported
larger receipts. In spite of export de-
mand Winnipeg vas up less than Amer
IN Q3S cents for lear months at Chr
cago and IS @lh tents at Winnipeg.
December deliveries were small at
Chicago, only 10000 bushels the first
pectations at 100000 bushels. effecting
an easy local close December /.
xpor buying on the decline. of last
was heavy: There were claims Monday
that late Saturday sales had been large
and later estimates were tha $500, 900
bushels or more had been placed abroad
after the close last Saturday and Mon
business up to the Thanksgiving holiday
was estimated at 5000. 900 bushels. Most
OF the business was in Manitobas but
scattered lots of American durum and
winters were included. Germany was
credited with large purchases. estimat-
ed at 100000 bushels. Including six
eargoes tmore than half of the total)
bought through London, and presuma-
Oily Argentine wheat.
argentine wheat continued several
cents under Manitoba and American Of
rerlngs, C. !. +. Europe. but the wheat
ana arrival in Europe was SO far defer
red that North American wheat was
wanted to fill the breach. Quality of
american wheat also is better. Crop
news from the Argentine indicated that
recent frost may have done some dam
age to wheat and linseed. and wet
weather also was a possible modifying
Iae5oF IN the previously bright crop
eastern houses indicated that early
threshlng returns in the north were dis
appointing, some wheat weighing only
portea harvest progressing favorably,
and Buenos Aires futures did not re-
fleet worry over the outlook. With
sales of new Argentine wheat
pressing at discounts in European mar
kets the American trade will be quick
10 sense reduction in the southern hem
isphere crop. as for two or three months
II VIII be the chief bar in the way of
1urther large sales of American wheat.
!. Sir James Wilson, English statistic
ian. estimated the world from
last year at 100000 900 bushels and sur
Plus this year at $4,000, 900 bushels. a
! v0fQt nH 4 mn mn -l@
importing countries compared with last
year he estimated at 232. 900. 900 bush
eLs, or apparent requirements of $780,
oVV.ooO oushels. but he figured econo-
reduce import purchases to 5000, 900
bushels. compared with 636, o 10000
pushels the actual commercial figures
on, world.s exports last year. This
zoo. oOO;o 600 bushels, but his figures on
Australian surplus were mig at 1O4.-
wv, ooo bushels against recent estimates
a. are oy,VEo.ooH bushels or less: 4 cut in
Visible surplus Increases were smaller
IMAM expected. the Y. S. total gaining
only $4,000 bushels.
Ease in wheat attracted a fair flour
demand early in the week. and the lull
IN trade of the previous week was
changed to a better average Shipping
m directions picked up and daily ship.
cash premium basis No. l dark northern
spring wheat sold at 4@17 cents over
Decembeh against 5@lS cents, over q
week ago. No. ! northern was largely
@ cents over. Durum held at about
me same premiums over Duluth, with
No: amber Ola lower for the week
corn showed strength in face Of larg.
er receipts at all leading markets. High
prices being paid by feeders in sections
where scarcity exists and bull heir
from eastern longs gave Chicago fu.
lures IN cents advance. AS loca,
cash premiums of last week were based
On small offerings and good local and
nearby demand the result of increased
receipts was a drop to a discount Of Ia
= cents under Chicago December for No
z yellow against 192 cents premium 6
week ago8 Oats gained a traction or
steady. "
j, There was less export demand for rye
but receipts were not pressing am
prices were helped by wheat strengt
Locally there was enough demand from
mills, shippers and elevators to hoIf
premiums steady. Nos. / an 2 seliini
at Ia gan over December. Barley gain
ed With other grains. There were n
and prices ruled firm. averaging ! cen
better for feed grades.
Argentine news acted as a tonic fl
the flaxseed market. Cables limited a
disappointing yields as a result Of tn,
regent frost. n Buenos Aires price
rallied 9@1l cents from recent extrem,
depression. AS Argentine flax is on a,
crushers will nave to depend to q con
siderable extent o n foreign supplies tn
chief Influence for the near futur
promises to be Argentine news. Loca
futures were up AZ cents and cash ~
@6M cents. .Crushers continue to re
mort a Onnd dovoon1. F1~ a.