Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-10-07
WEEKLY 7 OF
MARKETS.

Minneapolis. Oct. Wheat prices
gained ground steadily this week after
a sheer drop Monday, firmer cables and
causing caution on the selling side and
stirring a fair general demand. Fairly
good flour sales helped. War news
moved into the background with pros
ences with the Turks. Cash shorts in
the domestic and export trade helped
prices by covering: Shifting of hedges
INTO May, buying December, and selling
May gave the near month a shade better
advance than the distant month.
Cash wheat showed less ease this
week. premiums rallying half way after
the I Cent fast 6 break q. No No; H. ! dark x nerth her
over December, against 3 to II cents
premium a week ago. On account of car
shortage a peculiar situation developed,
S Saye ubs payiin M 1 cent premium or more
loaded with flour. AS northwest cars
generally could not be ~ we'd east, for
eisn cars were in demand. Durum
while spring wheat was steady to / cent
higher. Flour demand was irregular.
but q good average. Mills continued
to grind so per cent of capacity.
w. Winnipeg nj receipts continued to run
o wen g lSst yssT' cars cssS a S day and d,n hsayi, y
u cent over October ~price-making No.
l northern 96N Friday-against 4 cents
premium q week ago. Decline In cash
y to q cent.
Local futures We're y to 1 cent higher
Friday. December leading. Chicago was
up u for December and off " for May.
The car situation seemed to grow
disturbing mixture of influences. The
combination Of the recent strike. the
war and recent years of government ov-
er-resulation Of the railroads which hurt
their credit and forced curtailment of
buying to meet equipment needs. appar-
entity has made the transportation sys-
tenn utterly inadequate. One Of the eff
fects of the situation was a slow down
Congestion at Buffalo and Canadian
ports reduced offers abroad where under
normal conditions business would be
possible. Canada was in better posi-
tlon to offer but sales were less than
last week, while receipts were larger.
Temporarily the car shortage may
work out to be a benefit to the farmer,
II Europe gets nervous over supplies
ana foreign markets turn strong. Mod
crate receipts in American markets and
kets also are bullish for the time be-
ing. At the same time underselling by
Canada following a very small business
d II american e,ac Winter wh m; before Cana
competition of Argentine in the offing.
holds bearisk: possibilities. The domes-
tic movement to terminals must come
not not" be- f Gr ,n.el 1 later ta as i II i. now might
European dependence on North Amer
lea for the large part Of it's needs Is
certain bu, demand may be slow. Early
in the week Broomhall estimated the
and the worlds import requirements
at 7o4,000.0o0 bushels, including $4,000
600 bushels outside Of Europe. The sur
plus Of India was placed at 4O. 1000, 900
bushels. 10 YnStar1Qv the EN D1iab o1Ifb,or-i
ity said his Argentine agent put new
crop exportable surplus prospects at
las. 900, 900 bushels. On the above fig
ures a worlds surplus Of ss.ooo,oo
margin wouli be better han last wear
Bradstreet's worlds visible showed
the first large increase in some time
u s. and Canada was s.270.00O bushels.
and Europe n afloat decreased $780,
900 bushels. Total worlds visible still
is $4,000. 900 bushels under a year ago
100, 100000 bushels against 155. 900, 900
bushels last year. Increase in u. s..
stocks did not show in the regular Wis
ible statement. which changed only TO-
900 bushels. Il.
October private crop estimates for the
United States showed moderate changes.
B.. w Snow raised spring wheat to 1885,
0o0, 900 bushels ana all wheat to s4O.-
600, 1000 bushels against, last months
government total Of $40. 900. 900 BUSH
els. Goodman lowered lis figures to
261.o00, 600 bushels spring. on a s per
cent loss lin acreage compared with the
government, and total winter spring
wheat 500, 600, 900 bushels.
Bullish sentiment in the east carried
corn futures up sharply. with partial
reaction later. Private crop reports
were reduced to 1880 900. 900 bushels to
2. 805 .000. 900 bushels. Steady cash de-
mand. moderate receipts and larger
number of hogs On the farms than last
year were bullish influences. Oats fol-
lowed corn. but gained only y to rs
with cash 2 cents higher Rye followed
cent. Barley futures gained IL cents.
wheat sluggishly and reacted with prac-
tically no change for the week.
Flax futures bulged tx to . cents.
October. leading. ash was even strong
er. receipts being moderate and crush.
ers good buyers to keep operating. Oil
demand improved after q. lull5 and prices
were higher. Meal continued In brisk
demand. Spot flaxseed gained 4 to Q
last Of the week at 4. cents over the cash
month. against 2 to 3 cents owe last
Saturday. /.