Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-09-30

Minneapolis, Mimi, Sept. 30.-War
news and firm cables against increased
receipts and hedging pressure were the
VpPos,ng FORCES IN the wheat market
1nis week. With no actual clash with
turkey and continued dullness in the
export market the bearish influences pre-
c cordsd and moderate declines were re-
Local September wheat declined ~
cents Up to Fridays close. December
"a inc May ~ cents. Chicago q
months o 10 sT - cents lower fer active
tember. due to congestion caused BY
inability of shorts to secure enough
wneat Tor delivery to satisfy the long
for deferred months and : Cents io W.
Tor october. s,,, - ~
TIL Canadian market had more than
S,ooo cars for the Saturday and Sunday
sessions the average was above 1000
cars a day, Pressure of hedging against
tnese receipts, with larger arrivals also
FOR +h hno h AT Duiqth' made q heavy load
wneat delivered at country points in the
wagon provinces since, Sep
tember ! has been TO- 900. 900 bushels
AT the same time export business con
5inued light and sales were largely of
m MA Cash, premiums at Winni-
forr Ne Mere less \ l cent over October
less n ! cent over their December,
Wnlcl was l0h to IL cents under Chi
cago December. ~
loo.ooo bushels. mostly Manitobas and
late IN the week improved demand was
smown Tor durum. with Italy the chief
oHyer: i. in the foreign ex-
sales. The theory was advanced BY a
leading authority that small EXPORT
1aaess nave beer due in part to heavy
lUSsss sustained sta through large early
only for immediate needs. Present
crippled finances abroad also have fig
tied with having bought fair amounts
OF futures as a matter of. preparedness
Instead Of buying and carrying the cash
Sfasnst a %Hre "a diEtant needs. This course
me crop in our markets. At any rate
European demand continues disappointo
ing aespite war possibilities. So
the en week. ek tne Outstanding. LECTURES Of
cents In local cash premiums for spring
Wneat, Larger receipts and easier pric.
rs 1dii ca to attract outside milling de-
gradually shaded bids until Il cents
over December was top for choice No
l dark northern. A week & the high
gluten gut offerings sold at 21 to 20 cents
70 ! to IL cents over the future, against
3 to % cents over last Saturday Poor
~ ~: 9 dark held at s cents discount UNI
= Decenoer. Durum also ruled easier.
seiilng at 5 to IL cents over Duluth Oc-
tober for No. l amber.
Congestion in Buffalo, where grain
ta1eds tb aaa Leading facilities were
men and high lake freights were handi-
caps on cash business with the east.
Lake freight was scarce due to Canadian
oemand n the strike outlook.
canadian visible supply increased H.
SSo.oo0 bushels last week, according to
tuesdays report. U. S. visible increas.
ed $4,000 bushels. Restricted winter
W sca ra on account Of car
and probably considerable disappear
ance in private elevators Bradstreet's
m 3 ss, 9TH the increase in U: S. and Canada
rope and afloat made worlds visible
Increase only 2,291 600 bushels. Worlds
aga1nst 152,762,ooo bushels last year.
shipments Increased 100000 b ushsalaa
over.iast week to II, S97 1000 bushels gain
largely from Canada. Official Washing
ton figures showed American exnnrfs
100000 0 bushels less than last year for
July and August.
Local mills ran over so per cent ca
pac1ty; with 2sh out Of ~ mills operat-
but lower wheat prices caused a iulI late
IN the week. Flour prices were OFF 20
to ~ cents for patents. Canadian COM
petition reduced export sales to a mini
mum. ~
Nervousness and more general conser-
vat1sm ruled throughout the week.
Draggy action on advances gave cree
dence to the theory Chicago bulls were
reducing lines under cover of Septem-
Der strength and wal talk. Believers
IN higher prices assumed a waiting at
tltude. Either war or export demand
on a good scale would arouse latent
bullish sentiment and offset hedging
pressure. Otherwise the market will
need constant support.
Coarse grains lacked trend during the
week. September corn strength was a
support for a time and later the market
derived not a little help from small re-
ceipts. Fair export demand continued
for corn and Increased sales of oats
were reported late In the week. rive
sales also were fair, but not what would
be expected at rAing discounts under
wheat. December rye declined 2 cent
for the week. December oats dipped
a fraction, while September was IN
cents lower. Barley. was, firm for cash
End easy for futures on expected in.
crease in receipts.
Flaxseed market was unsettled and
nervous with grains. The fair daily re-
ceipts were we'll taken. and trading ba-
sis vas firm. Crushers paid up a cent
compared with October price. At the
same time there was a lull in demand
for oil and lower prices were. estab-
lished for deferred shipment. Decline
late In. the week carried oil for Novem-
Der shipment on to J~anuary-April ship
ment 6 cents, a gallon below prices of