The producers news., 1927-02-25
Grain Market Unsettled - Price
Changes Small But Trend Slightly
Downward.

Uncertainty as to the out come of
farm legislation, together with a
dull domestic demand and propects
of some further slackening in export
demand, kept the grain market in an
unsettled condition during the week
ending February 10, according to the
weekly Grain Market Review of the
United States Department of Agri-
culture.
Price changes were small but the
trend of prices for most grains was
slightly downward.
WHEAT: The world situation for
bread grains was not greatly changed
during the week. Winter wheat acre
age in the various countries reporting
to date shows slight increase over
that of last year while rye acreage
shows a decrease of about six per
cent. These reports, however, are
quite incomplete and do not include
a number of important countries. The
prospect for total North African
wheats which compete with our dur
um wheat is now for a decrease from
last year with acreages as far as re-
ported sixteen per cent below last
year. Crop conditions have been gen
orally favorable except in India where
trade reports indicate drought. The
winter wheat crop In the United
States continues in fair to good con-
dition in most sections. The move
ment of wheat from the Southern
Hemisphere continues heavy and ship
ments from Argentine alone for the
season total nearly 30,000,000 bushels
compared with slightly less than
13,500,0O0 bushels year ago.
Australian shipments have also
been large but slightly less than for
the same period last year. This heavy
movement has placed more than TO-
00,00 bushels on ocean passage, which
is the largest since May, 1925.
The large supply destined to Euro
pean markets is causing importers tc
buy cautiously for deferred shipment
until it can be determined how wei
these stocks will be absorbed upOr
their arrival. This slackened demand
is apparently being reflected in the
Buenos Aires markets, which declined
about 1 and IA cents during tht
week.
Argentine wheats at the close o.
the week was quoted at Liverpool a
S1.51. This compares with quotation
of S1.64 for United States hard wint
er wheat and $1.70 for dry Canadial
wheat.
The domestic wheat markets wer
/ dull with mills taking only sufficlen
/ wheat for their small current needs
| Flour demand was slow and some re
duction in mill operations was report
| ed in several markets. No. 2 har
/ winter wheat at Kansas City IL pc
cent protein was quoted at the clos
of the week at &c to 2 and 1-8c owe
: the Kansas City May price, whlc
= February 18 at $1.32 and 7-8; IL pc
cent protein sold at &c to DC over tt
Nav. The demand for soft wlnt'
wheat was even less active than K
hard winter wheat, as most OF II
mills using this class of wheat a.
parently had a sufficient supply Il
present needs. Some Southeastel
mills were buying low grade wheat
st. Louis in order to obtain favoraD
out billing for their flour and te'
s. shipments.
Premiums were fairly well mai
i tanned in the spring wheat markei
Dryness was a more important fact
4 than protein and heavyweight d
wheat brought about 1c higher pl
MUM about a week ago. II per ce
protein, No. 1 Dark Northern, "
quoted at Minneapolis at the M
price to sc over. The May price
the close of the market February
was S1.4O and 1-8. 13 per cent pl
tein was selling at &c to 7c over.
Durum premiums were about !
1 changed. No. Amber was selling
1 both Minneapolis and Duluth at
4 to 25c over the Duluth May, wh
L closed at SLAP. The export dema
4 in the Pacific Northwest contln'