The producers news., 1927-04-01
GRAIN MARKET REVUE
FAVORABLE. CROP. PROSPECTS
WEAKEN WHEAT MARKET
RECEIPTS OF FEED GRAINS
SMALLER,


corn and oats were weakening fac
tors in the wheat market during the
week ending March 26 according to
the weekly Grain Market Review of
the United States Department of Ag-
riculture. The lack of any improv-
ment in the commercial demand for
corn, together with the large stocks
in the markets, forced future prices
of both corn and oats to sharply low
er levels but cash markets for these
grains were relatively firm because
of light receipts and a good interior
demand. Barley prices held near the
top for the crop but rye was lower
with wheat and the flax market was
dull
WHEAT: Considerable liquidation
in the wheat market carried future
prices to the lowest point on the
crop but at the lower levels some
export demand developed and at the
close of the week the market was in
relatively firmer position. The
movement of the wheat to the Euro
pean markets from the southern hem
isphere continues of large volume but
is being readily absorbed. Trade es-
Inmates of the amount of wheat that
will be required by the European con-
Suming countries have been increased
and it is estimated that import re-
quirements will average around 49,
100000 bushels per week during the
remainder Of the crop year. At the
close of the week Argentine wheat
in Liverpool was being quoted at ST.
So per bushel and Canadian wheat at
$173B. American red winter wheat
was quoted at STAG anl the lower
prices resulted in fairly large sales
of red winter wheat from the United
States.
The domestic demand for soft red
winter was slow as mills were taking
only small amounts because of the
limited demand for flour. No. 2 red
winter was being quoted at Toledo
at $1.30 to $1.31, at Cincinnati at
$1.29 and at St. Louis at $1.271a -28.
Export bids for soft red winter were
around $1.36 per bushel at New Or
leans. Premiums for high protein
hard winter wheat held steady but
the lower protein types were about
1 cent lower. IL percent protein No.
z hard winter was quoted at the close
of the week at Kansas City at about
3 cents over the May price, which
closed March 25 at $125 So. 13 per
cent qOuted at cents to cents over
the May
Premiums for desirable types of
spring wheat were firmer, as a re-
suit of the light receipts and a slight
improvement in the demand for flour.
12 per cent protein No. 1 Dark Nor
then sold at Minneapolis at 2 cents
to cents over May, which closed on
March 25 at S1.32A. 13 per cent
protein was selling at A cents to 8
cents over May. Durum prices held
steady throughout the week, although
demand was slightly less active. No.
Amber was quoted at Minneapolis
at 10 cents to 25 cents over the Du-
luth May, which closed at $1.41 7-8
on March 25, but Duluth premiums
were slightly lower ranging from 10
cents to % cents over the May for
Nos. 1 and Amber.
Pacific coast markets continued
relatively firmer than other domes-
tic markets as a result of fair buying
W OAPOA NCA0s OOlb anu WGSIGIU
white wheats were selling for export
at Portland at the close of the week
at S1.3S per bushel with producers
selling slowly. 1t is estimated by the
trade that not over Is per cent of
last years crop remains to be mar
keted but new crop prospects are ex-
cellent for both winter and spring
wheat.
CORN: While future prices were
forced sharply down by liquidation of
holders because of the continued light
commercial demand for the large
market stocks there was a firme1
tone in the market for cash grain at
practically all of the important mar
kets with the exception of Chicago
Receipts were relatively light reflect
ing the bad condition of the country
roads and the beginning of spring
work on the farms. Southern de-
mand continues of small volume but
there were moderate sales to the
Pacific Coast from Kansas City anC
to the consuming areas of Kansas
and Nebraska from other centra
western markets. The light receipt:
were readily taken at Minneapoli:
and some export sales were reported
at Seaboard markets. Prices of No
) yellow ranged from unchanged tt
about 1 cent lower at the principa
markets being quoted at Chicago a
68 cents to 68 3-4, at Minneapolis a.
81 cents to 90 cents, at st. Louis al
Il to 72 cents, at Omaha at 68H
cents end at Kansas City at 72 cent,
to 1914 cents.
OATS and RYE: The oats mar
ket for both cash and futures mad,
declines of about 1 cent per bushel
reflecting the limited demand and tn,
favorable prospects for the new crol
in the south. Rye was lower will
wheat but at the decline some ex
port business developed and sales es
timated at around 10000 bushels
were made to Germany, Denmark ant
France. About 100000 bushels wer,
worked from Omaha for export vi;
the Gulf. 1t was reported also tha
a good percentage of the rye in stor,
IN Duluth had been sold for expor
TO go out after the opening of navi
cation.
BARLEY: The barley market a
lone was firm, best types selling a
practically all the central western
markets near the high point of tn
crop. The offerings of maltin,
types are not equal to the marke
needs and these are selling at IS t
50 cents per bushel at the principa