Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-11-11
MARKET REPORTS
ON ARMISTICE DAY
NEW YORK.
WEEKLY REVIEW or T11 i
kA228Y8,

during the week and, net price. changes
were small. Altogether h showing Of
the market was good. as holidays and
c%onspired against the market. English
cables led the decline from Monday high
n ease developed in nearby as we'll as
distant positions. Supplies afloat and
inss Of Manitobas were large. The
Iirst iYpoEtantS pressure, Of forward Of
ferineao!om the Argentine acted as an
additional beartsh factor. Harvest in
and vii be general in two or three
weeks. Estimates Of the exportable
surplus based on government crop fig
ures weer larger than recent private
Net changes for the week in h local
market were y cent decline in Decem-
Der and u cent in May. At Chicago
December was Y cent lower, May UNI
nip pnse %a sn i d Saiy higher cent for a'f NeSem M.a;
and &@h cent higher for December
Serious developments in the Turkish
s Snt saon I've, %sfe fa a bull factor tSs ru1 Mon mast
be taken in hand 1t was thought that
unity among the Allies reduced chances
Of a general or. long continued upheav-
al; actual fighting, however might
Cash and speculative buying in Amer
lean markets was checked by accumu-
lated receipts and news over the holt-
days. The, stubborn undertone was due
largely to general belief that Europe's
needs are large enough to insure a de-
mand for the American surplus in spite
OF delay and competition from Canada
and the Argentine. The chief uncertain
ty lin the outlook Is the croppled pur-
chasing power Of Europe, where finan-
cial conditions mend even more slowly
than expected.
There was an easier cash wheat mar
lot xrylkh ~nl,,o41 ~ ~ a md a1nu.
down in mill buying as a result of
quieter demand for flour was the cause.
Local premiums were 1903 cents lower
on the general run of spring wheat Of
sold at 1920 cents owe December late
in the week, with only scattering sales
at 21@23 cents over when quality and
shipping cars combined to prove attrac-
wa 1928 cents over ana more sold
over the 20 cent premium. Flour de-
mand was consistently quiet: Old bust
ness. however. kept local mills running
capacity. Car scarcity continued a
handicap, but mills even repaired cars
to get equipment to take care of ship
ments. Outside mills felt the scarcity
reported. Southwestern cash wheat
markets werel over and flour demand
Heavy Canadian shipments Of wheat
were REFLECTED 1s %e in large B1a tata, t., f tSs
week being 13,0s6:ooo bushels against
11.s59,o0o bushels last week and 1914
900 bushels last year. Worlds ship
ments M Nor deS again promise to :. run r !
of wheat in mill and private elevator
stocks, with exports and shift In sup
plies Q n the lakes continued to, shoW
in visible supply statements. the y:
showed good decreases. Bradstret's
worlds visible decreased $685.. 900 BUSH
els. although Europe n afloat in
creased 100000 bushels:
crop estimate at 217,00O, 900 bushels.
against 155. 1000, 1000. bushels last year
and 1890 900 bushels In 1921: Export
able surplus was placed at 14S,!00o.00o
year and 12O, 900. 10000 bushels in 1921.
Since January | last . the shipments
from 1921 and 1922 crops have been 131,-
0OO,O 900 bushels:
Corn crop figures were %disappoint-
ing to holders. The department Of agri.
culture reports showed an increase 81
loo, 00O, 900 bushels over the average OF
private estimates issued last week.! To-
tai was 1896, 5000 0 bushels. or 49,,
month ago and compared with $780,
900 $1,000 bushels a year 9 and q 10
year average of 2,8a1.o00,o0O
ss G ,ecc' 'Sssna fIem oo aass year vita xss a sss,,:
10000 bushels last year-but larger
than private estimates. Total supplies
for the 1922 season are 3,OS4.Ooo O0o
bushels including crop. visible and car
600, 900 bushels more. Apparently there
will be close adjustment of supple
this year. II not a shortage. as hog cen
sus shows 8 per cent Increase. Europe
also bought freely for q time. but re-
cent demand has Jagged. On the other
hand there has been an advance to new
highs and so cents bears have become
so cent bulls-a bad speculative sign.
Futures at Chicago sold over 70 cents.
Analysis Of the report. however.
south The nine Ssurpius' states have
1881, 900, 0o0. bushels, or 9.ooo.o 900 bush
els more than las month. but $1,000
900 bushels less than last year. and
22S, 900, 000Lbushe1s less than two years
e IS ood Iowa y, . s,tli heads I'd i thet itss Win Sn. tasl.
100000 bushels. The northwest lost,
with Minnesota and South DakotaN 81
oo0.o 900 bushels lass than last year:
Rye showed moderate Independent
week. Export sales ran 100000 to $780,
900 bushels a day. with Germany a buy.
er. This, with the big discount under
wheat stimulated speculative buying
oats n barley fsn as 8 With hnal prae fSio
Cents on a break of 45@7 at Buenoe
Aires int Favorable crop prospects
with harvest starting in northern Ar.
gentina. Thu Argentine governmdnt
estimated h surplus for the new cIoI
bushels in 1922 and 3e.000,000 bushels N
1921. I.
WALL sTHBnr REVIEW. 1
L a s.AfaN'ENL - -