The producers news., 1927-03-11


during the week ending March 5, |
according to the weekly Grain Mar |
ket Review of the United States De-
partment of Agriculture. Higher
foreign markets in spite of heavy |
Southern hemisphere movement were
an important factor in the wheat
market Private trade reports esti- /
mating the stocks of feed grains on
farms March l below those of /
year ago also tended to strengthen |
the market for corn and oats. Prices |
OF other grains were not materially /
changed but the tone of the market /
was slightly firmer.
WHEAT: While the movement of |
new crop wheat from Argentina has
been more than twice as large as the
exports for the same period last year,
Che European demand seems easily
sufficient to absorb the heavy move
ment. Prices at Liverpool advanced
about &c during the week and there
continued to be a good demand for
Canadian and United States wheat.
The Winnipeg market advanced about
DC per bushel and while the United
States markets did not advance so
much there was a decidedly firmer
tone III the market. The need for
dry, high-prOtein wheat for mixing
with the softer wheat from the
Southern hemisphere is causing the
continued good demand for American
wheat. The removal of an import
duty by Mexico during the week will
provide a market for about 100000
bushels of wheat, probably from the
United States markets.
Cash demand for wheat was onlv
OF moderate volume as mills were
still buying on a reduced scale be-
cause of continued light flour sales.
Some new flour business was OBJ
tanned by the Southwestern mills.
however, and there was a fair volume
OF mill buying in practically all the
hard winter wheat markets. Pre-
miums were not changed materially.
NO. hard winter being quoted at
Kansas City at $1.34-1.39 per bushel
and at Omaha at $1.33-S1.37.
Soft winter wheat markets advanc-
ed from the low point reached last
week with considerable Improvement
IN demand. The resuming of barge
| operations on the Mississippi river
was a strengthening factor at st.
Louis. More than 100000 bushels of
wheat were loaded from St. Louis
| elevators and 100000 bushels of No. 2
red winter were sold for export. Soft
winter wheat mills, however. were
buying only moderately.
The advance of nearly SC in the
/ q 81
tone IN the spring wheat markets and
While premiums remained practically
unchanged the demand was more ac-
tive. No. Dark Northern sold at
Minneapolis at the May price to &c
over; l212 per cent protein. 1c to
&c over, and 13 per cent, &c to SC ov-
er the May, which closed March 4 at
9l.4O12. The durum market held
steady at Duluth but declined about
&c for the higher grades at Mime
apolis. Demand continued fairly ac-
tive for the better grades, No. 1 Am
Der being quoted at from 1Oc to zoe
over the Duluth May at MINNEAPOLIS
and from 15c to 25c over at Duluth.
The Duluth May closed March A at
II S1.44- 3-S.
Export demand in the Pacific
northwestern markets was more ac-
tive, particularly from China. Ocean
space for shipment to that countr =.
however, is scarce and exporters have
not been able to secure sufficient
space for March shipment to carry
the wheat that could be sold to the
Chinese mills. A cargo of hard win
ter was sold from Portland to Portu-
gal on the basis of S1.33 at Portland
One cargo of Western red wheat
was also moved to China and several
parcels to Europe.
Rye: The rye market was firm but
prices did not advance as much as
; for wheat. There was considerable
export interest but most export bids
were slightly below domestic prices
and sales reported totaled only about
100000 bushels. Domestic mills were
fairly active buyers but lower grades
were dull. May rye closed Marsh 4
at Minneapolis at $100H, and No. z
rye sold at that price to 1c higher
CORN: The movement of corn con
tinued heavy, particularly to Chicago
Demand for cash corn remained Of
only moderate volume preventing any
decrease in stocks at the markets
which now total nearly 48,0OO,0OO bu
Estimates from trade sources tina
farm stocks on March l were small
er than year ago had a strengthen
ing influence the future markets
/ where prices made slight advances
] Industries took about the usual am
! cunts but elevators in some market
! were hesitating to increase stocks be
cause of danger of heating. Colo
rado and Pacific coast markets wer
7 active buyers of Nebraska corn dur
ing the week and considerable cor
was being shipped into western Ne
braska on the emergency half freigh
rate which expires April 1. Deman
for corn in the Southwest continue
very weak and No. 2 corn was quot
ed delivered Texas common points q
/ soc per bushel. The supply of kali
and milo is still adequate for tn
market demand and at the close c
the week No. 2 milo at Forth Wort
- was bringing S1.26 per 100 pound
with No. kafir quoted at $1.23 pc
100 pounds. No. 3 yellow corn {
Denver was selling at S1.44-$1.50 pc
100 pounds and at San Francisco N
corn in bulk was quoted at SIS
per 100 pounds. No. yellow {
Chicago was selling at 69c-70c, ;
Kansas City at 71c-74c and at S