Smyrna times., 1925-06-10
WHEAT FUTURES SHOW DEMAND
HIGHER THAN WAS EXPECTED
WEATHER CONDITIONS. FAVOR
WHEAT OVER OTHER GRAINS
Recent Frost Having Damaged Other
Grains Including Corn Throughout
Country Causing Replanting

UnfavOrable crop reports with lack
of moisture and claims of frost and
insect damage forced wheat futures
upward during the week ending May
20, according to the weekly grain
market review of the United States
Department of Agriculture. The cash
market was firm, although milling
demand was only fair and export busi-
ness totaled only about One-third of
last weeks sales. May futures were
moving out quietly.
Commercial stocks in the United
States have been decreasing recently
at the rate of about 100000 bushels
a week and are now about 100000
! bushels smaller than a year ago, al
though they are still larger than at |
this time in 1928 or 1922. Shipments |
from North America continue to run |
about 100000 bushels per week but |
shipments from the Southern Hemi- |
sphere have decreased and world
weekly shipments averaged recently
about 100000 bushels against about
100000 bushels in February and
March. Over twO-thirds of the eSti-
mated surplus from the Southern
Hemisphere has been exported in the
twenty weeks to date.
The progress of the winter wheat
crop in the United States ranged from
fair in most of the Ohio Valley to
poor in Oklahoma and parts of Texas.
Rain was badly needed in Oklahoma.
The crop was beginning to ripen in
Southern Kansas and was heading as
far north as the Ohio Valley and
Southern Iowa. Spring wheat was
= generally doing we'll but growth was
slow and the crop was in need Of
moisture in some sections.
European crop conditions according
to latest reports continue generally
to favorable with prospects of an in
Is crease over last years short crop.
Ill Seeding was favored by good wealth
t. er in the Southern Hemisphere and an
lie increase in wheat acreage seemed
he probable in Argentine.
I Cash wheat in Minneapolis was un-
r., settled, although prices closed slight
if ly higher. The bulk of sales of No
or or l dark northern ranged to 2Oc over
the July price against to 25c las
Saturday May 80 The July price
j. advanced Ga, closing Thursday a
y" $166%.
rs. Durum wheat was weak with tht
la demand for durum flour practically a
90. a standstill. Premiums declined ant
No. l amber durum sold at Duluth a
'ur the July price to 10c over.
Frost Benefits Corn Market
Premiums also declined in tn
90 Southwest, although prices wer
slightly lighter than at the close O
SeJ last week. Offerings continued fairl
liberal with country elevators clear
and ing up their stocks before haves
int. Twelve per cent protein No. 2 har
winter sold about II to lac over tn
July, 1213I protein Is to 18c owe
: and 1870 protein about 20c over tF
July price
Ell. Offerings of soft red winter whe;
were firm with slight price advance
The -four trade was reported slow bl
Southern millers were more actiN
buyers later in the week and chOi'
milling wheat sold readily. N. 2 RI
winter wheat was quoted Thursday
S1.93 at St. Louis and $1.94 to ST.!
at Cincinnati.
The corn market was firm accOu
recent frost damage. The crop su
fered a severe setback by cold weat
er in the Middle Mississippi and Oh
! Valley States, and considerable dar
age was done in some localities whi
will necessitate replanting althOui
much of the damaged corn will reco
- er.
u The cash demand for corn imprOv
with industrial buying moderate
Choice corn was wanted at Chica
s by elevators, shippers and feedt
Of with the principal inquiry for yell,
I'd grades The movement to the SOu
Of of Kansas City was of relatively SIN
volume. Country offerings were m'
crate and were expected to slow
with the rush Of field work.
The oats market showed indepel
4 ent strength, chiefly on account of
ports of crop damage. The cOndit
=. of the crop was generally fair, exc
SI' in Indiana, Illinois and MINES
where drought and frost have b.
harmful. The feeding demand was
moderate volume but there was a
export business. Elevators and Ger
interests bought sparingly. South
demand was slightly more active
Kansas City.
The barley market was firm "
other grains. There was some exI
business and good mailing barley
especially in demand. Rye was {
with fears Of frost damage and n
Of rain in some localities. ExT
business was dull and milling inql