Evening star., 1924-06-16
DECREASED ACREAGE
LIFTS WHEAT PRICES
Agriculture Department Sums Up
Changes in Grain Market
During Past Week.
CORN ALSO GOES HIGHER
Poor Crop Prospects Cause-Rye
Has Sharp Advance.

Revised government estimates
showing serious deterioration in the
winter wheat crop and reports in
oicatins 10 per cent reduction In the
spring wheat acreage caused sharp
advances In wheat prices during the
week ending June IA, according 20
the weekly review of the United
States Department OF Agriculture.
The June l estimate of the winter
wheat crop was about 100000
bushels less than the May l estimate
and The total wheat crop in the
United States was estimated at 33,-
100000 bushels less than last year.
Reports from the Canadian spring
Wheat area show a large reduction
In the prospective crop for that coun-
Try: Private reports estimate the
spring wheat crop in Canada at
around 10O,0oo00O bushels less than
last year. Reports from twenty-one
important wheat-producing countries
In the northern hemisphere repre-
senting about 70 per cent of tn.
acreage show Il decrease Of about
= per cent, or a little over 5000,
600 acres.
Better Weather Aids Crop.
During the week more favorable
weather overSpread the spring wheat
belt, but the prospective reduction il
the crop was the leading feature ir
the market and prices were advanced
b 70 ) cents per bushel.
In the spring wheat markets there
was a very active demand for the
best grades and cash prices advanced
more rapidly than future prices. This
was also true in the hard winter
wheat markets. Receipts continued
light and reports from country ship
pers indicate that country supplies
are being well cleaned up. CONNER
cial stocks were also materially re-
duced during the week
The higher prices restricted export
sales, however. and very little eX-
port business was transacted. Some
export sales of new wheat from
southern Oklahoma were reported al
around s1.16-$1.17 on track at the
gulf for twenty-day shipment
Corn Prices Advance.
Continued unfavorable weather
which has given the corn crop a very
poor start in many sections, was the
Strengthening factor In the corn mar
ket. Prices continued their upward
trend and advanced about cents per
bushel for the week.
Commercial stocks are more than
twice as large as last year and re-
ports indicate that stocks on farms
are also materially larger than a,
this time last year. Weather and
crop conditions will continue to be
determining factors in the market
for some time.
The oats market continued firm
but the price level was but little
changed during the week. The offer
inss of new oats from the southwest
restricted the demand from markets
tributary to that territory.
Rye Market Very Strong.
The rye market turned very strong
with wheat Mills and shippers were
active buyers and prices were ad-
vanced cents to Z cents per bushel
at the principal markets. Foreign
buying of good volume was reported
and the market at the close of the
week was in d very firm position
Commercial stocks were materially
decreased.
The barley market was firm, with
prices tending upward, but no ma
terial advance in price was reported
There was a good mailing demand al
Milwaukee, but buyers were rather in
different at Minneapolis.