Evening star., 1924-05-04
STRENGTH IN WHEAT
AS THE WEEK CLOSES
Review of Market Conditions
Throughout Country by Experts
of Federal Bureau.
REPORT ON OTHER GRAINS
Falling Off in Demand for Corn
and Oats.

The wheat market developed new
strength toward the close of the week
ending May ;. states the United States
Department of Agriculture in it's weekly
grain market review. Foreign crop pros
poets continued favorable. but there was
material strengthening in t.s4 Euro
pean markets, notwithstanding the large
world exports.
There has been u rapid consumption of
the large surpluses in the principal eX-
porting countries. Exports from Argen-
Una Tor the crop year to date were
about % per cent larger than for the
corresponding period last year. while
the exports from Australia have been
30 per cent larger Canadian exports
nave also been materially larger. but
There continues to be an active foreign
demand which has had recently a de-
clded strength ming effect upon the
United States markets
Ninter wheat prospects in the United
states continue favorable. but wet
weather has not been so favorable for
Ihe decreased acreage of spring wheat.
Light supply of High trades.
The continued light arrivals of high
gfade milling wheat in both the spring
and hard winter wheat markets has
created all active demand for these
grades, and premiums have continued
very firm. While this strength has been
reflected to some extent in the prices of
The lower grades the market for them
generally has been very dull because of
the lack of an export and shipping de-
mand
The flour trade continues dull. and
there has also been a falling off in the
demand for feed This situation will
hal h.. i,,t t1..
mand for wheat Imports of wheat
from Canada have been practically dis
continued. but American exporters are
SAID to he planning TO increase the mill
ing Ct Canadian wheat in bond to sup
ply flour for their foreign trade
Less Demand for Corn and Oats.
The d mand for corn and oats has
fallen off somewhat during the week
because OF improved paSturage con-
ditionS and cheaper prices for mill
reed. Receipts have continued fairly
heavy. especially for corn. and com
rnerc1al stocks have increased Fu-
ture markets have advanced slightly
with wheat, hut ii has been increas
lngly difficult to maintain the pre-
miumS for the cash corn
The demand for both corn aud oats
to the south and Sout Invest has de-
creased. hut there has been an i'm
proved local demand for oats in the
central west. and farmers in Ne
hraSk&4 are reported {" ho buying back
good amounts Of oats from the local
ei". aturs. : heT. has been d very
limited export demand for corn be
cause of cheaper offerings from Ar
genttua- Industries continued to be
active BUYERS. and. while the general
demand was less active. there was no
accumulation on tracks of either
corn or oats at any Of the markets.
Rye shows Adyance-
The rye market advanced l and 2
cents al the principal markets during
the week. Offerings were extremely
light and there was good milling
demand for No ] and No. rye. May
rye at Minneapolis closed Friday at
59A cents. ana mills were bidding
from - to 3I2 cents over this price
for desirable grades of milling rye.
The barley market reacted some
what from the firm position which il
has occurred during the past few
weeks The better grades continued
in good demand at fairly firm prices
at both Minneapolis and Milwaukee.
but the lower grades were slow. No.
> barley was quoted at 35 and 81 cents
at Milwaukee and the May barley
closed at 726s cents Friday at Min
neapolis
The flax market was very firm be-
cause of the light offerings. The best
cars of seed sold IS cents over the
May at Minneapolis, which advanced
; cents during the week and closed
Friday at S2.463, The common quail
ties Of No. ! sold at l to II cents over
hr Nav fufurp