Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-12-16
WEEKLY REVIEW or TIE
AA2R1T0.

Of pressure on domestic markets. WASH
ington reports of plans to finance ex-
ports and a broader speculative trade
Recent news developments at home
and abroad. have tended to arouse public
interest. The result was the most ac-
Of last week were Increased BY about
I cents before there was a reaction of
any consequence The market was
fnr aro opoG to absGrs, heavy profit tax
Chicago bulls who have been long for
many weeks being credited with taking
profits. New buying. however, took
GUS indigestion. Strength in cotton and
a better tone In the stock market en-
couraged Wall street buying. The west
ern public also showed increased inter-
est. with opttmism the rule. Advance
N other commodities encouraged the
theory Of a period Of secondary infla-
The most potent feature in the news
was the efforts of congress to help in
the disposal of the United States sur
Plus. hitherto in only occasional favor
s wifh foreign rel =. buyer because Of under
countries. Financial aid for foreign
buyers and home credits which would
encourage holding by the grower. This
ultimate success will depend on actual
market conditions the Immediate effect
undoubtedly is bpllish.
Continued strength in sterling was the
more Impressive as the pound sterling
came near to normal value. The move
also was taken to mean practical GER
tainty Of improving political conditions
cial situation inthe United Kingdom.
strength in sterling made up for the
lack Of response in Liverpool grain
Belief that a setback was due after
the strong recent advance was the chief
cneck on the market late in the week.
a healthy. market can make a sheer
e ealIea the only Ss,t 50 h long; t Profit taking
market action indicated that underlying
publish conditions had changed.
Disappearsnce Of cash premiums at
IN the flour trade were leading bearish
influences on the advance. The first
was due to closing Of navigation and
might prove temporary. The other fac
effect Of the nearby holidays. Locally
the cash wheat situation continued
da%agd IN spite Of rather less active
cpt down movement and premiums for
choice spring wheat were firm.
No. ! dark northern was 401s cents
over May on the official close, but oc-
cents over. Smaller offerings, sold
readily, although ordinary to DOOR
wneat was slow. Durum sold 2@3
c W,ab n ha, than last Saturday In line
10 49,. - ... |
Flour emand was distinctly quiet
on the average: but local mills were
n nnnlns over 50 per cent capacity on
ana rail shipments Of flour in the east
filled markets there to the point of
saturation. 1865 y
vs sts.istie @o varied little from recent
large amounts Of wheat afloat at Buf-
1alo caused adjustment of visible sup
BY figures: which were corrected from
Of a0n $4,000 t'sS bushels to show ar - INCREASE r. ase
6 6%shsla: Amount afloat includes $780,
sSinments ca1 mad n, wheat; Argentine
harvest so that cables Indicate no great
new crop movement until late next
month: Cold weather in the u. s. win
yer wheat section without good snow
crop. - "e
Coarse grains developed strength with
wheat. with Chicago corn futures show
small in all markets, although the corn
offerings showed seasonal Increase.
PRESSURE, however. was not heavy atl
the leading market and bullish senti-I
futures us,is sOn up "a 70 'ee 1Sis IN an The h.. east Nth Nth
weather stimulated feeding and snow y re-.
stricted country deliveries IN northern
pro n sections. Far western de-
oats moved with other markets. and
locally there was a firm cash Situation
WIN q. decrease in stocks which en-
Outraged increased speculative buying.
STOCKS here were off 100000 bushels for
the week. Further deliveries on De-
cemner contracts failed to check the
cash month, although 1920. 900 bushels
nave been rendered for the month to
oate. Barley was in fair to good de-
mand IN the cash market and futures
were helped by gains in other grains.
week. ~ vi '"e
axs staged a strong bulge with
sharply higher Argentine prices and
email current cash offerings the CHIEF
nelps. disappointment over YIELDS in
the Argentine sent Buenos Aires prices
UP strongly. Local cash demand was
good. Both Minneapolis and Duluth
moved up over 1910 for December and
cash, reacting late. u
LOCAL rye futures have advanced Sx
gsh cents since November II. In the
last week the advance has been ONLY
AZ cents. Duluth advanced ~ cents
since last Saturday, while Winnipeg was
about unchanged. The Canadian mar
ket. however, is up az cents since De-
cemoer 1 and AZ cents since November
II. The slow action at Winnipeg was
IN spite OF current receipts around hall |
the daily total a few weeks back. /.
Export demand for rye early this
week was better than for. wheat, with
sales Of 1900, 900 bushels estimated. La
ter 1T fell off, but so did demand for
wheat. II congress is to do anything
TO finance exports it would seem that
rye at the discount would benefit even
more than on account Of Sentimental
Europe's we'll known taste for rye
bread. .rl 0--7 'o