The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1926-11-19

lnCICdSEQ GSbllllehbOD VI AdldQldu
wheat crop together more favorable
weather in the southern hemisphere
and falling off in the export de-
mand, weakened the wheat market
during the week ending November 1S,
according to the weekly Grain Mar
ket Review of the United States De-
partment of Agriculture. Continued
light demand for the accommodating
stocks of corn forced prices to the
lowest point of the crop. Prices of
barley, oats, and rye, were also low
cred slightly during the week.
A official estimate placed tn e
Canadian wheat crop at approximately
O6,OOO,OOO bushels and this together
with increased stocks of wheat at the
Winnipeg and other Canadian mar
kets caused a sharp decline in wheat
prices in that country and also tend
ed to weaken the United States mar
kets. Reports of probable settle
Iments of the English coal strike
caused export buyers to hold off pend
ng a possible readjustment of freight
rates. This limited the export de-
mand temporarily, but if more ship
ping space becomes available and low
er. freight rates are offered foreign
demand is likely to again become ac-
i've because of the smaller European
crop of bread grains and the small
tocks in European markets. Wealth
continued favorable for the devel-
Opment of the crops in the southern
hemisphere and this also contributed
to the unsettled condition of t h e
market.
Mill demand for wheat in the Unit
ed States markets continued of small
volume and this, together with the
lack of an export demand, lowered
premiums on both winter and spring
wheat Stocks of wheat in the prin-
cipal markets have become fairly
large and total around 80,000,000
bushels. In the spring wheat markets
the cash demand continued dull The
flour trade wa S exceedingly slow
While choice cars sold at fairly steady
prices. Damp, smutty or damaged
wheat was difficult to sell. Twelve
percent protein No. Dark Northern
sold at the close of the week at Min
neapolis at the December price to 4C
over; 1919 percent, at 1c to &C over;
and 13 percent at &c to sc over the
December. The demand for durum
wheat was less active and premiums
for choice Amber durum were re-
duced about &C at Duluth. No. 1 and
No. Amber was quoted at 36c over
the Duluth December, which closed
November IL at $1.3O
Premiums for hard winter wheat
were also &c to &c lower, reflecting
the lower prices in other markets
Mills and elevators were not active
buyers as their stocks are already
fairly heavy Export business at the
gulf was of small volume and bids
ranged around $1.45-$1.46 per bush
ell delivered gulf ports.
The soft winter wheat markets re-
Elected the dullness in the spring anC
hard winter wheat markets. Prices
declined &c to &c per bushel. Mills
have bought soft winter wheat spar
ingly because of the limited demand
. for flour. While mills continue tt
report dull flour trade, reports t.
the census from the principal mer
! chants mills indicate that flour pro
, duction for July, August, and Sep
TENDER was the largest since thes
reports began to be compiled in 1928
Lower prices restricted marketing
in the Pacific northwest and it'll
: wheat was being offered. Bids a
! the close of the week at Portlanr
were S1.35 per bushel for soft an,
: western wheat. Millers were prac
, tically out of the market and eX
porters were only moderate buyers
, Approximately As percent of the las
years crop is still being held in tn
country according to trade reports TO
the Pacific northwest.
Unusually large stocks of corn to
gether with a fairly heavy movemen
caused further declines in corn price
during the week. Stocks of corn o.
farms and in the principal tradin
! channels November 1 were approx
mately 145,OOO,OOO bushels large
than last year. The crop hOweve
according to the November 1 est
mate is about 211, 100000 bushels be
low that of last year, with the. qual
! itv considerably below average.
is estimated that about 1875 perecen
= of the crop is Of merchantable quail
tv compared with a 10-year averag
q Of 81.8 percent. The demand 70
corn was only moderate, even for tn
better grades. Receipts of new cor
were not large but a large percent
2 age contains excessive moisture an
d can be sold at wide discounts unde
7 the better grades.
{ The general situation in the oat
! market was not materially change
{, during the week but the weakness
+ corn market caused a slight declir
e in oats prices.
i: The rye market declined with whes
e but had some independent. strengt
J, as a result of the prospect of SON
increase in the export demand. tt
5, supply of good milling quality We
S limited and mills were active buyer