Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-04-08
Weekly Market
Review

rrnove. and both crop news and stat
istics contributed to uncertainty or
Conflicting reports from
Tho southwest, mixed cash news. drag
pv "a bles, absence of foreign demand,
except for Manitoba's n scattering
lots of new winter wheat Tor July
August shipment, were checks on q
market apparently dominated py Pc
i;nvers in later bullish developments.
lash wheat and futures were
stronger in the local market than in
any other market, domestic Or for
eign. Premiums for cash wheat were
maintained, although lower grades
Jagged. and futures advanced liz to
~ cents, with July stronger than
NAV. C%hicago's Friday close was x
cent lower than last Saturday for
May and IN cents higher for July.
Winnipeg was l cent lower for May,
and u cent higher for July;
Southwestern markets held well
under Chicago and sales Of cash
wheat from kansas City and Omaha
for shipment to Chicago were a fac
tor in making the May delivery weak.
With only three weeks to first deliv-
erv day. scattering May liquidation
came or the market from longs.
changing holdings into July, or sell
ing out to cash and crop news devel-
opments.
government crop figures Friday
| were not far from private estimates
| given out last week. Indicated yield
Iof 572. 974, 900 bushels was only q
600, 900 bushels from the B. W. Snow
estimate. Official promise compared
with final yield of 5%87.000;000 BUSH
! els last year and a five-year average
! of SIS, OO0. 900 bushels. In 1920 final
! crop was Gil ,0OO, 600 bushels follow
| ing an April condition of 1855. Con-
dition this month was put at 1874.
The largest crop Of recent years, how
ever, followed an April condition of.
99.S, the 1919 crop being 100000 0
bushels.
Statistics his week indicated some
further adjustment toward the close
adjustment Of supplies that bulls pre-
dict. U. S. visible should decrease q
million. At the same time Argentine
shipments increased to 6,O82, 000.
bushels from 2,916,000 bushels last
week and 4%.192,O00 bushels last year.
This change may be reflected in in
creased stocks in Europe and afloat in
the next worlds visible statement
next Tuesday. D.",
European crop news indicated fair
conditions on an average, but q
what smaller acreage generally and
some damage in France. Broomhall
estimated that Argentine still has 63,-
100000 bushels surplus. but stated
weekly shipments are expected to run
under the 5000, 900 bushels mark.
Absence of export outlet for winter
wheat via the gulf, demand there be-
ing confined to new crop wheat for
July-August shipment, made an easy
situation in winter wheat markets,
where stocks are large, except at Chi
"a pn Tho latter marie Of hos 1nlyy I =
100000 bushels contract wheat. but
sales to go to store this week indicat-
ed an increase of 700, 900 bushels in
the amount available for delivery ON
contracts. "
Visible supply decreased 1900 900
bushels. but total still Ms 35,597, 900
/, bushels against 1S,4s3. 900 bushels last
year. Worlds visible (Bradstreet's)
is 10000. 900 bushels against 1871
visible is $4,000, 900 bushels against
100000 bushels a year ago. Amount
on ocean passage decreased 1000, 900
bushels, but is $4,000, 900 bushels
against 100000 bushels last year.
Favorable weather is needed in the
northwest to prevent late seeding OF
spring wheat, which might figure in
inc 1lnal outturn. Seeding, already
late, but soil generally is reported in
fine condition. 2
The market promises to be a
weather affair in the near future.
with conditions here and in the south
vest the important price maker.
Scares are due in winter wheat terri
tory, especially with the late start In
important hard wheat sections, Soft
winter wheat condition continues
ABOVE an average. 4
rurther export sales of 10000 to
ooo,ooo bushels a day, lighter receipts
a. domestic terminals and firm cash
g also figured. Chicago. futures
cent over Saturdays close,
decreased local receipts made the
market apparently firm here. No.
. yellow sold at 8 to Sk cents under
Chicago May, compared with Az ia
cents under the future a week ago
= n Mnaeu corn was Y to TX cents
q sneaper than yellow. U. S. visible
supp!y mad its first material reduc.
decrease of 2,700, 900 bushels FOR 9hs
C week. Total now is 46,389,Oo0 bush.
> es' compared with 32.Ss6,O00 bush.
= eas a year ago. Worlds visible il SIT.
Hvo;voo bushels against SO, 600, 0Ot
%pusheis last a Russian relic
oougnt a fair lot Of corn srits. the
ilrst IN several weeks. r. -
,,SS".S averaged up firm for the week
Mouerate advance in wheat and cor,
neiped, as did larger local shipment,
.. ana small receipts. Light hedeins
, pressure was balanced by huv;ne
p AGAINST oats moving out and it'll
,~,auioatlon was in evidence in spite =,
heavy stocks. Oats visible decree sel
''oo,0o0 bushels last week. mt tota
~ ~ e1,osa,oOO bushels, So, 9O3, 900 bush,
e s dast year, Local stocks are 81
$4,000 bushels against 8 7so a.,
bushels last year. Seeding dayia, ~ !:
talked in the leading cat states :
rye futures advanced n cent fo,
casn market was II cent hirher ~ ~
enoice: Mills paid more for desir, ~
onerlngs. with fancy Nc, p a. 81
esnts Owe May and ordinary -
cents over. Barley dragged Raa.;ll
y were light, but demand was a%i,'.s;pt
q Casn range was 40 to 60 cents fes ~
Meek, with So to So cents the clos
ing prices. May barley was y nes
g. !oWer Tor the period, with smao "1n
g, I'VE puying almost nil. uulna
foreign flax prices Avera pad
U small local receipts and fa, weas
g vator demand to suppIeman. eie
n, ate needs OF crushers dnmina .nouer
g, market. Futures gained III Tn
= vas cent firmer compara1 az
{: May. No. ]. spot sold main,v : W.
price TO ; cents over. WIN 4. ma