The producers news., 1927-07-01
Orain Markets Sharply Lower: Wealth
er More Favorable at Home and

Improved crop conditions Ioworod
gram prices during the week endino.
une 20 although cash Quotations
nnardly followed the full decline in
IqCures, states the weekly Grain
Market Review of the United States
department of Agriculture. Favorable
weather IN the United States as well
as IN Canada and Europe weakened
the market for wheat and rye while
less pessimistic reports on corn caused
sHdfp recesslons IN course grain mark
cts. Flaxseed prices declined sharp-
~ on trade reports of increased acre
age together with good crop condi-
conditions were generally favorable
Tor wheat. Harvesting was resumed
IN the Southwest after the recent
heaVy rains there and the crop made
good progress in other sections. Cut
tlng was progressing as far north
ward as central Missouri and wheat
IN. northern Ohio was ripening under
favorable conditions. Prospects indi-
Gated bumper crop in the Pacific
northwest where the harvest in tbe
early sections was expected to start
soon after July 4.
World wheat conditions also showed
a slight improvement for the weelT
Inc Canadian crop made good pro-
gress and the outlook for European
wheat was unchanged slightly better
than a week ago, while rains in Ar
gentlna were beneficial to seeding
operations there, Those inproved
conditions were reflected in lower
Liverpool quotations. July futures
there declined &c for the week ending
June "a, closing at S1.60 per bushel
European port stocks showed some
further increase but this was coun-
terbalanced by reductions in stocks on
ocean passage and smaller shipments
OF bread grains. Attractive prices in
european countries are bringing ont
the remaining surplus of domestic
Wheats. Importers were buying eau
tiously.
WHEAT: Movement of new wheat
IN the Southwest increased although
recent wet weather there has restrict
ed threshing operations. MANY of
the cars arriving at southwestern
have contained considerable
moisture and have sold at discounts.
In spite of the general decline in
Wheat prices, old wheat of good quail
lty at Kansas City and Omaha a6-
vanced slightly, largely because the
wet weather in the Southwest NAV
have lowered the quality of some of
the new wheat High protein wheat |
was in best demand but ordinary
grades We're slow. Export demand !
was quiet with export bids reduced
to Acc over the Chicago September
future for No. 1 hard winter f. o. b. |
gulf ports. Old wheat No. 2 winter
l24s per cent protein sold at Kansas
City 0c-1Oc over the July option. 13
per cent protein, 15c-17c over: and
Ia per cent protein, 18c-2Oc over
Most OF the new wheat at Kansas Citv
graded No. and lower on account of
moisture content and sold at dis
counts of 4c-6c under old wheat.
High protein wheat, especially with
favorable billing, moved readily in the
northwest but damp and damaged
Wheat was Ndraggy. No. 1 Dark |
Northern II per cent protein was
quoted 3c-12c over the Minneapolis |
July future; 1919 per cent protein.
0c-l4c over; and 13 per cent protein.
5c-l6c over the July, which closed
June "a, at S140. Best high protein
types at Duluth were wanted bv mill
ers with Is per cent protein selling
1p to 23c over the Minneapolis July.
The durum market was generally
lulet with low grades draggy. No. /
Amber durum was quoted 2c-7c over
'he Duluth July future and No.
mixed at &c under to SC over this
option, which closed June "a at S1.5O-
Good milling types of soft winters
we're IN falr demand at reduced prices
'ut low grades were dull. Southern
mills were buying wheat at Cincinnati
i to piece out their stocks till new
wheat should be available. Demand
vas slow In the Pacific northwest for
10Th export and milling wheat with
prices about &c lower for the week.
Rye prices declined in sympathy
With the weakness in wheat, together
With the light export demand for this
ram. Crop prospects continue gen
rally favorable but only limited
of old crop rye are available.
commercial stocks of 100000 are
he smallest for this time since 1922.
lllling demand was more active than
or the past two or three weeks and
remlumS on the best grades sbo1rad