The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1927-02-18
Heavy Argentine Shipments Weaken
ing Wheat Market: Corn Firm as
Soft Roads Reduce Receipts.

SOft ROADS hCduCC 0eCelDtS
Continued heavy shipments from
the Southern hemisphere had a
weaking influence on the wheat mark
ct during the week ending February
~, according to the weekly Grain
Market Review of the United States
Department of Agriculture. The
breaking up OF the country roads re-
stricted the movement of corn to
market and receipts fell off sharply
and caused firmer market situation
for this grain. The market for oats
continued weak and prices made fur
Their declines. The rye market was
also slightly weaker but an active de-
mand for desirable grades held barley
prices firm.
WHEAT: Argentine and Australian
wheat shipments totaled approximate
ly 9,5OO.O0O bushels for the week and
this, together with the heavy stocks
on ocean passage, weakened the gen
eral wheat market situation and re-
suited in a decline of 11ac to &c in
Liverpool prices. This southern henis-
phere movement, however, was some
what offset by lighter shipments from
North America and smaller receipts
in the United State markets. Ocean
freight rates remained about I'M
changed and Argentine wheat was
being quoted delivered at LIVERPOOL
at about $1.53 per bushel compared
with $1.65 for hard winter wheat
from the United States and S1.62-
Sill for spring wheat from Canada
While stocks in exporting countries
are much larger than at this time last
year, the European supply is made
smaller, so that indications are the
present heavy world shipments will
be readily absorbed.
Cash wheat markets in the United
States were not materially changed
during the week. Export demand was
destricted by the heavy offering from
the Southern hemisphere and mill de-
mand was slow because of a limited
demand for flour. No. hard winter
wheat II per cent protein was quoted
at Kansas City at about $1.36 per bu-
shell, or about 218c over the Kansas
City May. Export bids for No. ]
hard winter delivered on track at the
gulf ports ranged around $1.461a.
The market for soft red winter
wheat was relatively weaker than fol-
other classes, No. 2 selling at ST.
Louis as much as &c under the MAY
price. Milling demand was dull and
elevators were taking principally the
cheaper grades. No. red winter was
quoted at the close of the week at
ST. Louis at $1.37-$1.381a, Chicago
$1.33-$1.36, Cincinnati and Toledo
$1.37-$1.39.
The spring wheat market was also
quiet. Heavy weight dry wheat sold
readily but damp lightweight types
were very slow sale. II per cent pro-
TEN No. l Dark Northern was quoted
at the May price to SC over in Mime
apolis with the 13 per cent protein
selling at &c to &c over the May, which
closed February IL at $1.40 So. Dur.
UNI premiums were again sharply re-
duced, No. 1 Amber being quoted al
both Minneapolis and Duluth at 15C
to 25c over thefDuluth May, which
closed February II at Slab 1-8.
Both milling and export demand
showed some improvement in the Pa
clfic northwestern markets with mill!
paying about &c over the export price
for milling wheats. Wheat for ex
port were quoted at Portland at $1.34
u per pushed. Sales of the white
wheats were principally to Europe anC
of the red wheats to the Orient. Al
improved demand for flour from tn,
Orient was making a better demand
for the lower grade wheats.
RYE: The rye market ruled rattle.
weak as export demand was not suf
flclent to maintain the recent firme
tone. Export sales were reported a
about $4,000 bushels but most of tn
bids were below domestic prices. No
2 rye at Minneapolis was quoted a
$1.00-$1.O21a and at Chicago a
$1.03-$1.04.
CORN: Corn prices remained prac
tically unchanged at most of the mar
kets during the week but the lighte
receipts caused by the bad condition
Of the roads caused an improved de
man for the lighter offerings. Re
ceipts at the principal markets totale,
only about 100000 bushels compare,
with nearly 100000 bushels for tn
previous week. Industries were buy
ing little more actively and eleva
tors continued to take a good percent
age of the receipts. The feeding de
mand at the markets did not SHOW
much improvement but reports indi
Gated that movement from interio
shipping points to consuming area
was increasing. The emergency rate
of half of the regular rates whicI
have been put into effect to tn
drought areas of western Nebrask
) have slightly increased the movemen
of corn to that area. No. 8 yello7
corn was quoted at the close of tn
week at Chicago at 79c-74c, st. Loui