Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-11-25
WEEKLY 1Hvuw or Z"
MARxET0.

asm Of last. week. although ,Minneapo.
liz was off less than outside markets
~ demand from mills and shippers, with
some from eastern bulls. Weak cables
slow export demand. and a weakened
the advance last week were causes OF
the early break. -
The market showed surprising resi-
liency later. rebounding almos as far
as 1t fell. but setbacks followed, with
9. lower trend. While Minneapolis was
days close, Chicago was Y @2h cents
lower. and Winnipeg was down ~
@3A cents. Local December gave evil
dence Of congestion. showing a flash Of
ing was almost entirely in May, so pit
offerings were light, only increasing
from speculative longs on advances.
At Chicago and Winnipeg the nearby
deliveries ruled weaker than Deferred.
Chicago, n wheat was reported going
to store" presumably for delivery on
December contracts. Winnipeg Novem-
Der and spot No. l northern both broke
after a comeback, the cash month ruling
Az cents lower Thursday.
Improvement in export demand was
a prime factor IN recovery late in the
week. Business was practically all in
NA6AAAAOOdS "Acdls UuI. d lew 6CdLlcESu
lots of american winters and durum
were sold. After midweek daily sales
were 500, 900 bushels or better. mostly
dominion wheat. The fact that Germany
trade on account Of financial difficult
ties In the way Of such business. Eng
lish buying continued, listless in spite
of higher sterling exchange, with larger
Liverpool futures and spot wheat weak
ened and were q drag on sentiment.
Large worlds shipments continued to re-
lieve the pinch Of nearby supplies and
until after close of navigation.
Argentine harvest is general in the
northern provinces and offers of new
wheat for winter shipments were sharp
ly under u. s. prices and a few cents
under Canadian, G. !. +. Europe. Favor
and, in Australia. However. private es-
Inmates from the latter country were
lover, one cable being as low as 50.0O0.-
900 bushels. against Broomhalls esti-
and another guess last week at so,ooo,-
been IS, 900, 900 bushels.
A bearish summary Of the world sit
uation by a Chicago operator called at
tention to reduced estimates of French
out strained financial con iitionh abroad
and called attention to North American
exports for five months of only 1922
600, 900 but of a North American surplus
Of 575, 5000 900 bushels or more. T.
While his surplus figures were consid-
had some effective sentiment. Broom
hall in his recent estimate in the Liver
pool Corn: Trade News puV worlds sur
plus at Sic. 0o0.000 bushels and worlds
needs at loo, 000, 900 bushels, although
reducing probable Import purchases to
$40, 000, 900 bushels for Europe and S0,-
100000 bushels for non-European coun-
tries. OF a total of 10000. 900. Long
are reasons for reducing ac-
tual buying by importing countries so
far below normal needs. Worlds ship
ments up to November 1 were LII ,000.-
still to be covered by old business and
new purchases in the U. 8. and Canada,
with something like ESQ, 900, 900 bushels
available from the southern hemisphere.
Local cash wheat prices eased 1@4
cents compared with December, flour de-
mand ruling light and a falling off in
shipping directions dulling the edge Of
demand from mills. No. 1 dark northern
eased to 4@l9 cents over December. Me-
dunn grades We're ? cents lower and
broke at Duluth and local cash premiums
were easy with an indifferent demand.
A slight improvement in the car situa-
ton ia expected next week. =
- "A III llC
coarse grain markets, u largely to
bullish sentiment at Chicago where de-
cline in futures was only y cent in spite
Of heavy profit taking by longs. I'M
pending new crop movement caused IN
undercurrent Of conservatism among
bulls, but car shortage and fair eastern
and export demand were expected to be
offsets. Local cash prices went to a
premium over Chicago on small receipts.
Oats futures dipped h0A cents with
corn. High cash premiums continued
and local stocks decreased 10000 bush
els. Barley held firm on light offerings.
Futures gained / cent.
Reaction came in rye. prices easing
more than wheat. largely because the
market is narrower and lacking in sta
bility supplied by speculative interest.
Futures lost IN QsA for the week. Cash
market also was easy and export sales
from lake. and seaboard markets lighter.
Crushers were good buyers of flax
seed, taking 1.-The fair current receipts
readily, although not SO anxious for
cars. as shipments Of oil n meal be-
yond November were not SO pressing.
Relative steadiness of December flax de-
liveries in leading markets indicated
that ~discounting the later movement. to
market had been started. .
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