Evening star., 1924-04-27
WEAK TONE IN GRAIN
RECORD OF PAST WEEK
Good Milling Wheat Fairly Firm,
But Coarse Grains Quoted
Lower.
TREND OF CORN DOWNWARD
Exhibit of General Conditions by
Federal Bureau.

The grain market DEVELOPED
weaker tone during the week ending
April 26, states the United States De
partment of Agriculture in its weekly
grain market review. The large
stocks of wheat yet to be marketed
both in the United States and in
other large surplus producing coun-
tries were the principal depressing
factor and practically all other con
ditions, many OF which might develop
into strengthening factors later Oh.
were apparently overlooked.
Future prices were about | cent
lower at the close ot the market on
Friday and cash grain, with the OK
ception of the best grades of milling
wheat. declined slightly more than
the futures in most markets.
Receipts OF wheat continued vcry
light and only small percentage o.
arrivals were of the higher grade
In the spring wheat markets the No
l dark northern spring continued to
sell at premiums ranging from
cents to 20 cents over the May fu-
ture price. Hard winter wheat o.
high protein content also sole =.
continued firm premiums over tho
May. Contract grades, however. soid
much lower than the desirable milllu;-
grades and quotations were arounU
the May delivery price. The millir-
demand, however, was not of largc
volume and buyers were hcsitatira2
to accumulate large stocks at present
premiums. On the other hand. offer
ings from the farms were also light
and producers were apparently await
ing the outcome of proposed legis!a-
tion before selling the remainder OF
their wheat.
Export Bids Below Domestic.
Export bids were still below til
domestic basis and therefore cxporr
sales were made. Tho imports o.
Canadian wheat. except in bond hay.
has been practically completed, but
the increased duty became effective.
Crop prospects continue good in TIE
hard winter wheat areas while re
ports OF damage continue to be r.,
ccived from the soft winter wheat
states. The spring wheat scedir,L
has been practically completed but
the weather during the last Of tn,
week was slightly less favorable than
earlier.
The trend Of the corn market was
downward during most OF the week
Country offerings were fairly Iarr.
and receipts in the principal markc.s
Wei Z diNp "a lar NblUUlt. ne demand
especially for the white and nike
grades. suffered some falling off ana
the prices for these grades were re1a-
lively weaker than for the yellow
grades. notwithstanding the in
creased farm activities in the south
there was less inquiry for corn 70"
shipment to that territory, which ac-
counts for the weakness in the ma
ket for white corn. Cereal interests
and shippers We're the principal buy
ers OF yellow corn in the various
markets and there was sufficient dc
mand at the lower prices TO absoro
the current offerings.
Commercial Stocks and Receipts.
Commercial stocks are still not bur
densome and receipts to date have
been materially below last year. TIL.
marketings Of livestock, especially
hogs, have continued of good vo,
ume. however, and stocks of corn CN
farms are reported to be larger thar
a the corresponding time last year.
The oats market was weaker with
corn, but the movement continues
light and all offerings were readily
taken by the trade. Stocks of oats in
commercial channels are only 4 little
over one-half as large as las: year.
The rye market continued dull.
There were reports of prospective
sales to Norway. but the market II
general was rather lifelesS. Receipts
were very light and good milling rye
sold at cents and . cents over May
future price at Minneapolis, which
closed on Friday at o1 a.
The barley market continued very
strong throughout ;he week, with
cash prices ranging from 81 cent
to - cents per bushel at Minneapolis.
and from IS cents to = cents 1T Mil
u-aukee. Mailing and seed barley W.
in especially good demand.
The offerings OF flax at Minneapolis
continued very light with the deman"
good. No. / seed sold cents to 80
cents over Minneapolis, May future,
which closed on Friday at 2.i1a1 per
buShel