The producers news., 1927-03-25
Poor Demand Weakens Grain Market
Farmers Plan Larger Acreage of
Most Spring Grains.

mGuJS OF WnCdI from Lne SOuCnefn
hemisphere, together with a limited
demand for all grades had a weaken
ing influence on the grain market
during the week ending March 10, ac-
cOrding to the weekly Grain Market
Review of the United States Depart
ment of Agriculture Receipts Of
most grains were smaller than dur
ing the previous week and cash
prices of feed grains were relatively
firmer than future prices. Notwith-
standing the lower prices, farmers
are planning a larger acreage of most
spring grains this season according
to reports to the Department.
WHEAT: There was little change
in the worlds wheat market situa-
tion during the week. The second
estimate of the area sOwn to wheat
in India places the acreage this year
at 81, ,184, 900 acres compared with a
final estimate Of 30,470,O0O acres last
year. There have been reports of
insufficient rain in this country but
later reports show that rains have
fallen recently III the Punjab and
United Provinces which should i'm
prove conditions. The movement of
wheat from the Southern hemisphere
continued heavy and Liverpool prices
declined about &c per bushel Owing
to the poor quality of Argentine
wheat from the southern provinces
the test weight per bushel for con-
tract grades was lowered from the
equivalent of about 58 pounds per
bushel to about SO pounds per bushel
Some arrivals of Argentine wheat
have shown less gluten strength than
expected, which has caused a more
active demand for Canadian spring
wheats, which are quoted in Liver
pool at $1.74 per bushel compared
with $1.48 for the Argentine wheat
and Sl.50 for United States red win
ters.
The domestic demand for wheat
was inactive because Of a slackening
IN the demand for flour. Soft winter
was relatively weaker than other
classes, No. 2 red being quoted at
st. Louis at $L31-$1.34, the lowest
price on the crop to date No. red
winter at Cincinnati was quoted at
$L.3O 12-$1.3112, at Toledo at $1.32-
$l.33, and at Chicago at S1.331a.
Prices for hard red winters were
rather irregular, depending upon pro,
TEN content, which was being given
a little more attention by the trade
than earlier in the season. II per
cent protein No. 2 hard red winter
was quoted at Kansas City at about
&c over the Kansas City May, which
closed March 18 at $1.29 is. 13 per
cent protein was selling at about 3 12 |
cents over the May.
Premiums in the spring wheat mar
kets were practically unchanged but |
there was a slightly better demand, |
particularly for the offerings of |
wheat with higher moisture. IL per
cent No. 1 Dark Northern was selling
at Minneapolis at the May price of
$1.34 rs to &c over the May. 13 per
cent protein was selling at &c to &c
over. The durum market was firm
both for the cash and futures. The
May Gurum market closed March Is
at Duluth at $1.43A and No. l Am
Der was quoted at 10c to 25c over the
May quotation. The relatively high
prices of durum have apparently in
fluenced the farmers in planning
their spring wheat crops According
to their intentions as reported to the
departments, farmers in the princi-
pal spring wheat States plan to in
crease their durum acreage nearly Ia
per cent over that of last year. This
increase is principally at the expense
of flax acreage, although about one
per cent decrease is reported in the
acreage that is expected to be sown
TO other classes of spring wheat.
The Pacific coast markets did not
reflect the full decline in the worlds
markets due to scarcity of current
offerings from which exporters must
obtain wheat to fill sales for April
and May shipment. Exporters were
paying $1.3312-1.34 at the close of
the week at Portland. Some sales
Of new crop wheat were reported on
the basis of $1.25.
CORN: Future prices declined dur
ing the week bat light receipts of
grain strengthed the market for cash
corn, prices of which made moderate
advances. The heavy stocks contin-
ued to be a weakening factor in the
market, particularly since the com
mercial demand is limited. Present
plans of farmers point to an increase
of nearly 2 per cent in the corn acre
age IN the United States this spring.
A slight decrease is planned in the
central corn belt States but this more
than offset by a large increase in
the cotton belt where farmers plan
substantial increases in all important
crops that can be substituted for cot
ton. No. 3 yellow corn was quoted
at the close of the week at Chicago
at 69c-7Oc per bushel, at st. Louis
at 7012c, at Kansas City at roc 73c.
and at Omaha 681a roc.
OATS: The oats market followed
corn in a downward trend but there
was a good demand at the markets
for the bright, dry, heavyweight
oats, which sold at about the same
price as a week ago. No. white
oats were quoted at the close of the
week ut Minneapolis at 43-44c, at
Chicago at 41c-45c, and at Kansas
City at 46c-4Sc per bushel A three
per cent increase in the acreage of
oats in the United States is now
planned. Slight increases are plan
ned in all parts of the country but
the greatest increases are in the
South and drought sections of the
DakOtas.
BARLEY: An increase in the acre
age Of barley is also planned in all
important states, except California
the increase planned for the United
States as a whole being IA per cent
Tho hnrlnNr ,,,n,.I,nt doclinnd NTH nth