Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-04-01

wen with this barrier 10, 900 900
bushels of Canadian wheat has been
imported as wheat or -four in eastern
markets and scattering lots have come
here. NH ~
Decline on Friday was another dis
appointment to believers in higher
prices as a result of close adjustment
of worlds supply. and demand. The
foreign markets were easy despite
smaller Argentine shipments. Total
from that source o the week was
2,916.00O bushels. against 6,071,o00
bushels the week before and 40
900 bushels last year. Since January
l shipments, however. have been ST.
0oo.oo bushels, against .17,eo0.0o0
ments increased to 1000, 900 bushels
from half that total the week before.
acting as an offset abroad.
Export sales were only about $780,
600 bushels a day on the average and
mostly Manitobas or new crop winter
wheat for July-August shipment. Only
one day was there a fairly good bust-
all Manitoba's and a little durum
afioat. Liverpool seased back IS IL
cents owe Chicago at equal to $1.46A.
compared with recent premium of II
cents in the English market.
Ample present supplies are the big
factor in checking advances. The U.
s. visible is 37,102;000 bushels. against
20,761,OO0 bushels last e year Brad
streets worlds visible is It's, Z 900
Ocean passage showed a decrease Of
100000 bushels, but total was ST.
100000 bushels, against 100000
bushels last year. 4sY
English statisticians estimated the
years worlds surplus over require
ments at 3 10000, o0e to 5000. 900
bushels. This is a narrow margin.
but at present it is not narrow, and
estimates Of supplies and European
revision on account of financial con
ditions abroad. =
First crop estimates since Decent
Der were issued the last Of the week.
B. w. Snow. Chicago expert, whose
figures usually are close to govern
ment estimates. made condition of
winter wheat 1877. against 76 last
December. On 1o-year average aban-
Use at $50, 0O0, coo bushels, against
527, 000, 900 December 1 and final yield
last year Of 1877. 0oo, 900 bushels.
Estimate of p. 81. Goodman, another
Chicago statistician, based on his re-
ports Of 10.3, per cent abandonment
was $50, 900, 900 bushels. This aban-
donment has been equalled or ex-
ceeded only in five years of the last
ten., Goodman's condition figure wa
1916. Government figures are due
late next week unless date is changed.
The reports stated ample moisture
now is present through the southwest
and only growing weather is needed
to show the extent to which the crop
can come back after earlier drouth.
Corn eased slightly for the week,
Receipts decreased, but there was q
quiet eastern cash demand, although
Speculative support decreased with
the easier tone in wheat. Effects OF
! May liquidation before the delivery
period starts vas feared, especially
with the visible supply now at $4,000
900 bushels. against $4,000, 900 bushels
last year.
Chicago May declined 1-2 and local
cash market was unchanged to 1-2
cent better, compared with the future
No. 3 yellow selling at 8 1909 cents
under May late in the week. Uncer.
tain hog market added to ~indecisior
in corn price trend. .
Only small changes compared with
last Saturday were shown by. coarse
grain futures here. May corn was of
5-S cents. oats up 3-8 cents, rye ur
Ia cent and barley off 3-8 cents. May
fax was l "a cents higher despite
rather consistent weakness at Buenot
Aires. Higher import duty on oil
which would tend to reduce competi'
ton of foreign oil which has depressed
eastern markets. vas a help. Loca
receipts held light and No. 1 spot
seed was 1 cent stronger. compared
with May price. Demand from crush
ers was fair.
Cash wheat and -four news wal
mostly bearish. The local market wal
In the strongest position of n in the
country and showed. It in firm pre-,
miums over futures for choice offer.
ings. No. / dark northern sold at II
a &c cents yer May. compared. Will
10@25 cents w last Saturday. No
3,dark was May price to % cents over
Durum also was 10 cents firmer.