The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1927-01-21

An increased movement of wheat
from the Southern Hemisphere which
tended to reduce the export demand
for United States wheat had a weak
enlng influence on the domestic
wheat market during the week end
ing January Is, according to the
weekly grain market review of the
United States Department of Agri-
culture. Prices were not materially
changed in the United States mar
kets or a Buenos Aires but Liverpool
prices tended downward and at the
close of the market January Ia were
about a cent lower than a week ago.
Light receipts of feed grains as a
result of snow and wintry weather
over a large portion Of the grain
belt together with a more active de-
mand particularly from feeders caus-
ed a firmer market for the grain.
Offerings of new crop wheat form
Australia and Argentine increased
during the week, tOtaling around B.
100000. The Argentine wheat is of
good quality and is being offered de-
livered at Liverpool at prices equiva-
lent to about S1.49 per bushel. Lare
trade estimates place the Argentine
surplus this year at about 148,OOO.-
coo bushels and the latest official
estimate of the Australian wheat har-
vest places the crop in that country
at 164,000,0 900 bushels or about ST.
100000 bushels larger than last year.
With these increased supplies of
wheat available in the southern hemi-
sphere European importers have be-
come less active buyers of United
States wheat. There still continues
to be a moderate demand, however,
for United States hard winter wheat.
presumably for mixing purposes, as
European stocks are reported now to
consist chic ly of Canadian wheat, the
quality of which has averaged rather
low Out Of about 231 100000 BUSH
els of Canadian wheat inspected to
December 81 only 46.5 per cent was
Of contract grades, whereas the aver.
age is usually well over so per cent.
Cash wheat prices held generally
firm and premiums were practically
unchanged. Mills were active buyers
and elevators and shippers were also
in the market. No. 2 hard winter
wheat II per cent protein was sell.
ing at the close Of the week at Kan.
sas City at 4lac over the Kansas CITY
May. which closed January IA at
S1.32 81; 1914 per cent protein sold
at sc over and 13 per cent at SIC
over the May. Export bids for No. /
hard winter wheat delivered on track
at the gulf ports were at around
S14812 per bushel. Prices for soft
red winter wheat advanced slightly
in most Of the markets because of
light receipts and a more active de-
mand from mills, particularly in the
South and Southeast. No. 2 red win
ter was selling at the close of the
week at Kansas City at $1.33-S1. /;
Chicago, S137; st. Louis, S1.39-S1.40;
Cincinnati, $138-$1.39; and Toledo,
S139-S1.40.
Spring wheat showing good weight,
high protein, and low moisture was
IN ready demand and premiums for
this kind were advanced about a cent
per bushel. The lower grades, how
ever, were dull and premiums were
reduced about a cent on this type of
grain. IL per cent protein No. 1
Bark Northern sold at &c to &c over
the Nav price at Minneapolis, which
closed January IA at $1.401z. 1919
per cent protein sold at Sc to 7c over
the May, and 13 per cent at &c 20 7c
over.
Durum prices were unchanged at
Duluth but were reduced at Mime
apolis. Receipts were larger and
there was a better selection of mill
able qualities The most desirable
types of No. / Amber were quoted at
l5c to 40c over the Duluth Nav
price, which closed at $685.. No. /
red durum sold at Duluth at about
sL321a.
There was q fairly steady demand
for export wheat on the Pacific Coast
where prices were unchanged at
around S1.35 per bushel at Portland.
considerable grain remains in pro-
ducers hands but is not being offered
freely. Winter wheat is reported in
excellent condition with moisture suf-
tlclent in most areas to carry the
crop until the June rains BEGIN.
The rye market was firmer with
prospects for a more active expert
demand. Actual sales were not large
but We're sufficient to be a strength
ening influence in the market 100,-
900 bushels of rye were reported solo
for export from Omaha and small
sales were reported from Minneapo-
lis. Rye future prices advanced
about a cent during the week anC
No. rye at Minneapolis was selling
at &c under to &c over the May price
which closed January Ia at SO 7-8c
No. 2 rye at Chicago was quoted a
99c-S1.01 per bushel.
A firmer tone developed in thu
corn market during the week. Snow.
throughout the corn belt are retard
ing country shipments and receipt!
have fallen off. Elevators and ship
pers were active buyers of the mar
ket receipts and corn products manu-
factHrers also took moderate am
cunts. The feeding demand appear
to be increasing and reports indicat,
that the direct movement of corr
from country shipping points to feed
ing areas is Of considerable volume
Market stocks continue large bu
with demand more active these ar
not such an important factor in tn
market. No. yellow corn was quot
ed at the close of the week at Kansa
City at 73c per bushel; st. Louis, Toe
lSc; and Chicago, 70c-71c per bushe
The oats market was slightly east
er compared with other feed grain
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