The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1927-01-28
Wheat Market Slightly Firmer-Feed
Grams Holding Steady With Some
Improvement In Demand.

Slight advances in wheat prices ar
Liverpool and Buenos Aires impaired
some strength to the United States
wheat market situation during the
week ending January %, according
to the weekly Grain Market Review
of the United States Department or
Agriculture. United States wheat
markets were practically unchanged
with both milling and export demand
OF only moderate volume A mod
eTately active feeding demand held
corn and barley prices steady but
sufficiently large to cause a further
the movement of corn to market was
increase in the already large stocks.
Flax was firmer influenced by higher
prices in Argentine.
An increase of about 100000
bushels over previous estimates was
made in a recent estimate which
placed the Argentine crop at about
223,000,000 bushels compared with
191, 100000 bvushels harvested last
year. This increase has apparently
been discounted in the markets, how
ever, as both Buenos Aires and Liv-
erpool prices advanced about a cent
per bushel during the week. Thresh-
ing. returns in Argentine are better
than expected in the southern prov
inces according to trade reports.
Wheat from this section is being Of
fered delivered England at S1.501a.
Argentine shipments were again
heavy and totaled around. 3,500,00O
bushels. The increased movement of
the southern hemisphere crop is be-
ing reflected in the larger amount
of grain on ocean passage, which
now totals around 100000 bushels.
The worlds commercial supply of
bread grains at the first of January
was about 100000 bushels larger
than year ago but about 8,0OO,O0O
bushels smaller than at the first of
December.
Domestic wheat markets did not
reflect the advance in the foreign
markets partly because of the slow
milling demand and also because or
the fact that United States prices
are relatively higher than those at
which southern hemisphere wheat is
being offered in European markets.
No. 1 hard winter delivered at the
gulf for export for 10 days shipment
was quoted at $1.46. Export bids
at New York were around $1.48.
Ocean freight rates were further re-
duced during the week but at the re-
duced rates United States wheat
would still cost 5 cents to 6 cents
more in the English markets than
Argentine wheat. No. / hard winter
wheat IL per cent protein was quot
| ed at Kansas City at a 1ac to SC over
the May price; 1914 per cent protein
DC over and ID per cent Size over.
Soft winter wheat was relatively
weaker than hard winter wheat as
the mills are not buying actively.
Prices at St. Louis declined around
&c per bushel. No. red winter SELL
ing at $1.37 to $780, at that mar
ket. No. 2 red at Cincinnati was
quoted at $1.39 to $1.4O; at Toledo at
$1.3812 to $1.39 and at Chicago at
$1.38.
Spring wheat markets showed very
little change and premiums for IL
per cent protein No. 2 dark were I'M
]
which closed January 81 at $1.40 7-8.
1912 per cent protein was quoted at
! &c to &c over and 13 per cent at &c
to &c over. Premiums for Durum
/ wheat were reduced another SC as a
4 result of less active milling demand
/ caused by the smaller demand for
/ semolina flour. No. l Amber was
/ quoted at from 15c to 35c over the
Duluth May, which closed January ri
at S1.401a.
Export demand in the Pacific
Northwest continued dull but mills
were buying more actively and were
bidding about S1.37 for western white
wheats. This was about &c over the
export price.
Greater activity in the export de-
mand for rye caused a firm market
for this grain and prices advanced lie
to &c. The total supply of this grain
is much smaller than last year but
the demand has been light up to this
time and stocks in the markets are
fairly large, totaling nearly 13,000,-
900 bushels. Norway and Germany
were the principal foreign buyers and
sales for the week were reported at
around 100000 bushels. The domes-
tic demand was unimproved although
mills took moderate amounts of the
desirable grades.
Corn prices held practically I'M
/ changed. Snow and wintry weather
retarded movement but the colder
weather was favorable for drying the
damp corn and indications are that
receipts will be lG~ger again when
road conditions be me more favor
able. Feeding demand, particularly
in the western part of the Corn Belt,
was active but demand in general
was of only moderate volume and
the large stocks which have accum-
ulated in the markets were further
increased No. 3 yellow corn was sell
ing at the close of the week at Chi
cago at 72c-73c per bushel; st. Louis,
/ 73-74c; and Kansas City, 73-74c. Dis
counts for damp and damaged corn
continue fairly heavy and No. 4 and
No. corn at Chicago were selling