The producers news., 1926-01-08
GRAIN MARKET REVUE
Grain Markets Make Further Adj
vance; Speculative Operations
Large Factor: Cold Weather Slim
ulating Demand for Feed Grains.

large actor: OOlu weather OLlm-
ulating Demand for Feed Grains.
Grain future markets did not reflect
the holiday dullness of the cash grain
markets but continued very active and
advanced sharply during the week
ending January 2, according to the
Weekly Grain Market Of the Review
OF the United States Department of
4 Agriculture. Wheat prices advanced
to new high levels for the crop year
but the market was highly speculative
and speculative operations were a
large factor in the market. The adj
vance in wheat strengthened the mar
ket for feed grains but colder wealth
er stimulated the demand and an ad-
dltlOnal strengthening factor.
World conditions were not materi-
ally changed during the week. Ar
/ gentlne crop news was rather indiffer-
ent. Early in the week rains ere
reported to be interfering with the
harvest but later conditions were re-
ported more favorable. The foreign
markets remained firm but did not
follow the full advance in the United
States future markets. The move
ment of Canadian grain has become
smaller but stocks in Canadian term
nal markets are of good volume, to-
falling approximately 78,500,000 BUSH
els.
The cash wheat market experienced
the usual holiday dullness and while,
the demand was sufficient to absorb
the current offerings, premiums were
lowered slightly for most classes of
wheat. IL per cent protein No. 1
dark northern was quoted December
81 at Minneapolis at Tie over the
May price; IL 1-2 per cent 9-14c over;
and Ii per cent, 12-17c over. High
er protein samples were quoted at
about one cent advance for each IA
per cent protein. Premiums on durum
wheat held firm because of the small
offerings but the range was wider
No. Amber selling at Minneapolis
at the close of the week at the Dull
nth May price to tic over. Duluth
May durum closed December 81 at
$1.50 ga.
The demand for hard winter wheat
was reported at the principal markets
to be poorer than for sometime. Flour
buyers continued to take only moder-
ate amounts and mills were, there
fore, not active in the market, leav-
ing elevators the principal buyers.
No. hard winter II per cent pre-
tein was quoted at Kansas City at
9 1-2c over the May future price; 12
IL per cent 10 1-2c over and i3 per
cent IL 1-2-12c over. The higher price
level of both spring and hard winter
wheat, however, brought out a good
amount of wheat. 1t was estimated
that close to 100000 bushels of
stored wheat went onto the market at
Minneapolis and the country sold hard
winter wheat freely at Kansas CITY
and other Central Western markets.
Premiums for soft winter wheat
remained practically unchanged with
supply and demand both of small
volume. Southern and Southeastern
mills were practically out of the mar
ket and elevators were the principal
buyers of the limited receipts. Paci-
fic Coast markets were more active
than week ago but farmers were
still selling slowly and were mostly
holding for higher prices. Exporters
were in the market for wheat for first
half of January delivery but millers
were taking very little wheat because
of the small amount of export flour
business. The bulk cf the wheat ex-
port in the Pacific Coast is being
made by Vancouver at prices with
which the American shippers find it
difficult to compete.
The colder weather stimulated the
demand for feed grains and together
with the advance in wheat prices
caused firm market for both corn
and oats. Prices advanced material
ly during the week Elevators bought
corn freely at most of the markets
but the shipping demand in the de
ficit areas. The quality of the receipts
was improved as a result of the fav-
Orable weather during the past few
weeks but there was still considerable
corn of high moisture content arriv-
ing. While receipts were of good
volume farmers were reported not to
be selling freely at present prices.
The rye market was strong with
wheat but failed to follow the full
advance, May rye selling at the close
Of the week at Minneapolis at &c lac
under May wheat. There was a good
milling demand fer good grades of
the cash grain but the lower grades
were rather slow sale.
The barley market was dull but
prices held firm. $1.70 per 100 pounds
was being paid for field run barley
testing "a pounds.
The fax market held firm and while
conditions were favorable for rather
wide fluctuations the market was
more steady than for wheat. Flax re-
ceipts were materially reduced and
while crushing operations are expect
ed to be smaller after the first cf the
year they are expected to be sufi-
GENTLY lar0e to absorb the current re-
ceipts. There are no new develop
ments reported in the Argentine sit
uation. The Minneapolis May flax
closed December 81 at S2.57 3-4.