The Washington herald., 1922-10-16
GRAIN AVERAGE.
Traders Believe Recent
Advances May Be
Repeated.


and among business interests that
grain values have been too low and
should advance somewhat. There
has been an advance OF around
10 cents in corn and oats from tn.
lowest point OF the season. but
values are still low. Grainmen from
different markets who have been
here the past week Law. expressed
confidence in coarse grains. believ-
ing that they should sell to 10
cents higher. while wheat around
si.o7 to sl.lo is not regarded as out
OF line.
The heavy movement of spring
wheat in the American and Cana
dian Northwest starcs cut as an
important factor as a price maker.
and. while hedging pressure is not
as great as recently and the mov.-
ment marketward has let up slight
ly. Indications are that the North
western movement will continue Of
'eA Do NoAhAhc 81 AohB ob OdAe al
available in tbs interior and storage
space can be secured at country
elevators and terminal markets. 1t
Is possible that the movement OF
grain may show a weekly decrease
for time. as cars at terminal mar
kets are delayed in unloading and
do not get back to the interior in
less than two weeks in making a
round trip.
Heavy Marketing of Wheat.
Marketing of wheat by farmers in
the Canadian Northwest of late has
averaged 4,00O.OO0 bushels a day.
From September l to October 6 they
sold ll2.000.00O bushels. only 5O.-
100000 of which have reached ter
minal marke -. the balance being ir
transit or absorbed by millers. In
the American Northwest rItre than
| 100000 bu.heiS have 5een sold.
There has been "a little Emp in the
marketing. buy II IS stl: Ct RECORD
volume. and Is expected to continue
as long as cars n. d weather conii-
/ tions permit.
Canadian farmers ar. nnt getting
much money for their wheat. AZ Oc-
tober and December Deliveries in
Winnipeg are below 81. This meLIe
that farmers In Western Canada get
IS to SIS cents a bushel. The De EN-
ber in Winnipeg is around liz to
IL cents under the Chicago futures.
In the United States farmers are
getting from so cents to 81, depe ad-
ing upon ths kind of wheat ami the
rate of freight t. terminal markets..
Small Export Movement.
Wheat supplies are accommodating
rapidly. due to inability to move
grain in volume for export. Millers
are absorbing wheat freely and
! grain is deing diverted to Gulf ports.
where transportation can be more
readily secured. Cash premiums for
grain in nearby positions have ad-
vanced to the highest of the season.
but they would :ict hold long were
! supplies to in. r.ase 10 any exten.
The surprising feature of the grain
trade has been the small accumu-
latton at primary markets since the
beginning of the crop year in the
face of a liberal movement. This
tends TO create greater confidence
amang Traders and a belief that
grains are worth the money.
All indications are that cars for
the movement of grain. coal and
other commodities will be scarce for
months to come. but that the traffic
on the railroads will be heavy and
up TO their ability to handle. Con-
seqently. with country elevators
well supplied with grain and ship
ping restricted by car scarcity. the
pressure from the country will bs Of
moderate volume.
An illustration of how grain has
been delayed on some railroads is
shown by the arrival here of three
cars of corn shipped from North
west Iowa, the first loaded on Au-
| gust Is and the third on September
( 5, all of which arrived in Chicago
! on October 9. The first car was out
/ fifty-three days from the time of
loading until 1t reached Chicago.