Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-03-25
MARKET NEWS
Y =. !. . The WORLD OF SPORT s1.:s NJ MAR


WEEKLY MARKET
REPORT
Msaae&aaa&, Man, March Ss>-
Wheat 8eSaseeA s%S the Neck, but the
SsSSSN * sAe ANAS&Ss IN the &ecsSNc
%rsS SS&SASsA> NasN SeAs SANas were
sAe s~esSssvesS weak ENxasa AMa Ar
seassae searNesS. heavy EAsa IN the
aassanS Ga &ee&a SASsASA Increasingly
saN@~s&ae a~ossessN S~on neMs sud
sSSaeace @s seHeseearS sMsa in toresSn
sHSsnS> &sssAeSs MesasssAere Ar
TsNSas 3 sAe SsapsaSSaE movement
Ton Ea6A ANSASeaSN SSAaSeS the
SsSsSse ~ SeseS<as SSNes$ Export
!sses were HIGHT sArsagASas the week.
Sssssscs ~es@ rather NeArisa>
NssAa sospS a the CmsSea Ssases de-
SS~SseS Ss than SSeSSete bushels.
Ncssas Sssase INCREASED S,ssS,eee
feeseee sssSes. against ~a$s,aea,oeo
AsssSess aASs S@aSs Gs the <S,eaa,o goo
SSSSsas eN>ess over last year the
SSs&S~eess Aaseaaeas ,~saesaasag par
ssA report Ut private ssSc&Sg showed
eA,&6h& D SssNeas Faare IN the Jns.ed
states, eS,e6e, 8ea sasAeas . in
:Sasss ARA a.oeaee s easseis more on
SSSAS@ ASC SSV&H fNSSaNS SSEAl was
: S,sae,s soc sasAe&,
SesseS OF the temporary fareSg,,
shortage as a resas, OF heavy Aus
sCassa ana Argentine shipments was
SSaa-sns IN l~Svergaess Acsion as well
IS IN SATISFIES The English market
al low was OF II ens rom recent
aaSa. Ea-N il the week Chicago was
SoSa oaN IL cents iron, high and
Minneapolis s Ia cents down. Later
there was relative 4eaaneS abroad but
cash news and o&erSouEAt markets
s1eaEss resssussmene in U markets,
Chicago Slid OF about OF a cccapara-
ave parity, whsse the local rnarke; was
Of IL IL cents from the May high
Of S1.9s So.
Net changes for the week were de-
'cSaes Of 5 LIS cents IN May and Z So
cents in July delivery. Chicago was
OF more being s s-S cents hover for
Nay and 5 cent lower for July. Win
n1peg declined 4 SIS cents for May
and 4 As sen for July.
The winter wheat outlook has
changed as a result of general rain
and SNOW but there is q tendency to
ground either below or above present
levels Gradual It slow Improvement
IA business conditions. marked change
in the money market and the fact
that the foreign situation holds out
buying possibilities, If the southern
hemisphere movement should let
down are among the constructive
factors
Exports of United States grown
wheat however, IN at the lowest
point in many months. and the weekly
up largely of Canadian wheat Of
fetal report IN exports of domestic
grain and -four for February showed
only 1o,s0o, 600 bushels shipped. about
half in the shape of -four. Total since
July /. 1921. however. a been 221,-
eo9,e6o, OF within about 30.oo0,oo0
bushels of the theoretical e1portable
surplus. based on a moderately re-
duced estimate of domestic con-
sumption as a result Of industrial
conditions. and b competition OF
cheaper coarse grains as human food.
Recent Russian and German buy
ing has been light but it continues as
a possibility. The former must buy
through relief or loan arrangements,
and the German business is not based
on German marks but on gui1ders.
The German mark sold this week at
a new low point on record. Until
Russia comes back into the list OF
exporting countries, a complete return
to pre-war prices is unlikely. This
may lake another year or two.
America during the war increased
production and exports largely, but
the rest of the world on the average
has decreased. Still, there has been
a ioss in consumption, perforce, and
crippled buying power on account Of
war destruction and mounting ma
donal debts.
Domestic cash wheat situation is
x.~-~ @1ol1, ~onh -4~kAx Dnfn01
1903 cents compared with futures.
No. / dark northern sold late in the
week at 10925 cents over May,
against 1924 cents premium a week
ago.. No. 3 dark was / cent under
May to 81 cents over, compared with
2 cents under to 20 cents over a week
ago.. Durum was a shade easier for
choice and draggy for ordinary to
poor. Nc. 1 amber was at Duluth
wheat receipts were lighter and
choice Montana sold unchanged to l
cent better than last Saturday, with
southwestern winter about steady.
In the winter wheat markets cash
demand Jagged. Kansas City carried
over more than 100 cars into the last
two sessions and late cash market was
easy. Flour was dull in the southwest
and quiet here. Spring wheat mills
ran slightly under 50 per cent. Better
crop prospects and fairly good roads
were expected to increase receipts in
the southwest.
Small spring wheat receipts Ire
expected at least until after seeding
and better roads. Daily run is down
around $50 cars, including durum and
winter. Mill stocks, however. are
fairly large and local stocks at 1000
900 bushels are 100000 bushels
larger than last wear.
Corn futures and cash were lower
in spite Of smaller receipts. Export
demand fen off with increased Argen-
tine competition; speculative buying
halted with decline in wheat; hogs
were easier, but still on a profitable
feeding basis, n visible supply In
crease continued.
In a general way the oats situation
was similar, with large stocks and
possibility of May liquidation by
longs who have carried the large
hedging load against big stocks the
depressing Influences. Bulls who be-
lieve prices are low have to pay a
premium Of nearly 2 cents to transfer
long lines from May to July delivery
on the present market.
Barley held we'll during the week
Receipts continued small and a fair
to good general demand took offerings
at steady prices to / cent less than g
week ago. Range was a. 61~c cents
against 1 CEN higher for top last
Saturday. Rye was "a shade steadiel