The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-10-20
EXPORT BUYING
HELD CAUSE OF.
RISE IN GRAIN
Brisk Buying During Past
Week Carried Market to
New High Levels
MILL DEMAND FAIR
u. S. Flour Mills Well Filled
Up With Wheat-Weather
Hurts Corn Price
MILL DEMAND FAIR

Washington, Oct. 2O.--RcneWcd c%-
port buying Of both wheat and rye
advanced prices to new high levels
during the week ending Oct. 18th,
according to the weekly market re
view of the United States Depart
ment of Agriculture. Continued fav
orable weather for maturing the corn
crop and lower prices tor hogs and
cattle had a weakening effect on the
corn market, and prices declined !
to SC per bushei. Oats was also low
er but the market was relatively
firmer than for corn.
While the export sales of wheat
became very heavy again during the
week the buying was shifted more
to the hard winter wheats for gulf
shipment. Premiums for deferred
shipment were materially higher, llc
over the Dec. price f. o. d. vessel at
the Gulf being offered for wheat for
March shipment. BE over Chicago
Dec. was offered for February ship
ment and l2c over for January, while
shipment were 10 to 10 lie over.
Practically all hard winter wheat Of
fered with favorable billing to Gulf
ports was being shipped direct for
export and only the high protein
milling grades were moving to Kan
sas City and other distributing mar
kets.
Milling Demand Fair
The milling demand was Of only
fair volume as most mills arc we'll
stocked with wheat, and the flour
demand continues sluggish. The
heavy movement of spring wheat has
practically eliminated the demand
from the spring wheat mills for hard
winter wheat. The export demand in
the spring wheat markets was less
active than in the winter wheat mar
kets, due partially to the undesirable
quality of a large percentage of the
spring receipts. The arrivals Of
spring wheat at both Minneapolis
and Winnipeg show the effect of
damp harvest, and more than one
third of the Canadian receipts were
reported to be grading No. 3 or low
err. Good dry wheat was in excellent
demand from both mills and shippers
at Minneapolis, and premiums held
around 20 to pc over the Dec. for
the best quality Of No. l dark north
ern spring wheat
Red winter wheat prices continued
very firm and at a premium of about
Zoe per bushel over the hard winter
wheat. New high prices for the
crop year were reached at Cincinnati
and other winter wheat markets.
Export buying, particularly by
Norway and Germany, was renewed
for rye, and prices advanced 6 to &c
during the week. European require
ments are much larger than last year
because of much smaller production
in the principal producing countries,
and this is causing an urgent export
demand for all offerings of rye from
this country. Exports to date are
larger than total exports for last
year.
Corn Weakens
Continued favorable weather for
the maturing of the crop, together
with the approach of the new crop
movement, had decidedly weakening
influence on the corn market. Lower
cattle and hog prices were also a
weakening factor and prices declined
to sc. New corn is being marketed
in increasing quantities in Texas and
Oklahoma. Fort Worth receipts of
10 1,<c Lo,,
sold to exporters for shipment to
Europe. The first cars of new corn
were received at Kansas City and
Indianapolis during the week, but no
movement of volume is expected for
about 80 days. The movement Of old
corn continues of good volume, and
stocks in the principal markets con-
tinue to increase, totaling now close
to S8,000,0O0 bushels compared with
only about 100000 bushels at the
corresponding time last year. The
cash demand is only Of fair volume
as feeders are substituting oats and
other cheaper grains.
The movement of oats continues
very heavy, and stocks totaling
around 6O,000,0O0 bushels have now
accumulated in the principal markets.
Prices declined slightly with corn,
but the tone of the market continued
fairly firm as the trade apparently
considers the oats market too low
compared with that of other grains.
The demand for oats was fairly ac-
tive from both shippers and cereal
interests.
The barley market continued firm
and there was an excellent demand
for the good mailing grades. Dec
barley at Minneapolis advanced 1 3-s
cents and closed on Friday at 80 rs
cents. Cash barley at Minneapolis
was quoted at from rs to 81 cents,
and No. barley at Milwaukee at 81
to SO cents. Export sales of about
10000 blu. were also reported for
the week.
Flax Upward
The flax market continued its up
ward trend as receipts continued
light. There was no material in
crease in receipts at Minneapolis
and Duluth, and the Canadian move
ment has been very slow in getting
under way. Eastern crushers were
active buyers of flaxseed on the
Northwestern markets in an effort to
obtain their supply before the close
of Lake navigation. No. seed at
Minneapolis sold at 2 to 6 cents over
the December future price, which
advanced cents during the week
and closed on Friday at $2.46.