Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-11-18
Weekly Market Review.

Ninneapolik. Nov. 1s:-Wheat showea
with n gain in outside interest on the
from leading bulls. Better European po-
litical news, firlner exchange markets,
strength at Winnipeg and firm Liver
pool cables were among the bullish IN
fluences. Export demand failed to. i'm
prove on the surface. but large clear
ances indicated that Canada; at least.
has done a larger business abroad than
reported
th ,pevs srsaastu4fs in .ne Gsgm Ts wa 'nd acate'
and the fall Of the Wirth government
ness" adRinistraiiof. German purchases
Of rye cohtinuSS.larsei Gables indicated 1s,
wheat situation was not sufficient 10
last. December wheat ruled, strong at
Liverpool late in the week. European
buying Of American wheat was light,
Canadian sorts was sold earlier than
was reported.
The news and an increase in spSecula-
tive interest.both Chicago and the To-
cal market noted a broader trade-gave
the market impetus to Withstand a
good deal Of bearish news. Harvest
started in northern Argentina and offer
January shipment, were heavy and at
sharp discounts under both American
winters and Manitobas. Australian
pected and crop figures were raised ma
terially.
Advance In local December was sac
and for May 4Ac. Chicago December
was ", W}n6 = Se aH Nov MaS ana 6ul 9siy KS :
and, deferred months 6M@5Mc. Cash
wheat Jagged 1@2c behind December
here, but kept the pace at Chicago and
Winnipeg.
Rye sales abroad stirred increasing
speculative interest in his market. Flu
lures advanced 6S@78c in the local
market and corresponding strength was
for export were around 500, 900 bushels.
One eastern interest estimated that
Germany has bought 49, 100000 bushels
on on the crop. %althoughS not all A : 6oc can
estimated at $4,000 900 bushels.
Both wheat and rye have az vanced
f ia eraer anf If 0T public eei Interest q rf iaer I IS
however, the setbacks on profit taking
will be small until the advance Is over
done. Chicago. futures hit new high
points on he crop, with December over
s1.2O. Local cash prices, are above that
figure for better grades.
Less active flour demand on the adj
vance and. slightly reduced mill capacity
in operation in Minneapolis reacted un-
favorably. on spring wheat here. No. 1
dark northern top premium was 1c less
at zoe over December, and ordinary to
poor wheat in cars which could not be
reloaded were 2@3c lower. Local flour
capacity in operation was around IS
per cent. New business was only air,
but mills are we'll sold ahead One lead
Of May wheat in the pit Friday. wheth-
er against flour sales or not was not
Known. - ,,t,, =
Broomhall cabled that Argentine crop
1870. 000,0 900 bushels last year. Exports
from that country since Jan. l have
been 132.000.0 600 bushels. against $1,000
600 bushels last year. In 1923 the sur
age in the south. Australian crop wa
estimated at 1870, 900. 600 bushels. or g.
100000 bushels under last year., when
surplus was GS.0OO,O00 bushels. Rou-
600 bushels. Larger European needs are
we'll known, but so far little progress
has been made in progress toward re-
storation Of anything like normal buy,
visible SUI supply II this country and
G shaaa INCREASED sfas aao heavily. BradStreets
Europe and afloat decreased 1900, oo6
bushels. That authority reports worlds
visible at $4,000, 900 bushels. against
1874: 1000. 900 bushels last year.
stronger market here. December gained
Shc and cash prices were up as wen
The smaller crop and larger number OF
animals on the farm. with a good mar.
gin Of Feeding, profit kept ,aentim9n,
big advance and prices are 16@22c owe,
last year at Chicago. Oats moved ur
with corn, gaining 2Ac for the week
and barley gained &c; Cash oats wers
whites> here sold at 3@7kc premium
over December. Chicago reported higf
lprices paid by the Pacific northwest fol-
corn. AL u.s.
Coarse grain receipts continued ligh,
in all markets. Recent long continued
rains were a factor. Present mild, clea.
weather Is counted onAbys bears to cur.
tail farm consumption and help move,
ment. Car shortage. however, shows lit.
tie promise of material Improvements:
Strength in flaxseed, with advance O
5@6c was due to active demand for cur.
rent spot offerings to TAX care of needs
Of crushers oversold on nearby delivery
oil and by accumulation Of orders fol
eastern shipment Of seed before tn.
close Of navigation. Eastern demand fol
oil, and seed is. expected to let dow
when rail shipment has to be figured
on. No severe weakness, however. Is ex
pected. VSt
ruu0 rcC, ~, 49, F