The producers news., 1927-05-27
UnfavOrable Weather Advances Grain
Market: Corn Prices Highest on
Crop: Other Grains Very Firm.

Continued wet, cold weather over
much of the corn belt and also in the
spring wheat area of both the United
| States and Canada continued to be a
strengthening influence in the grain
market during the week ending May
/ Fl and corn prices were forced to the
| highest point on the crop with other
grains holding very firm, according
to the weekly Grain Market Review
of the United States Department of
Agriculture. Corn planting is much
! behind a naverage season throughout
practically the entire corn belt and
considerable yet remains to be done.
Prospects are also that some replant-
ing may be necessary. Considerable
spring wheat seeding remains to be
done and trade reports indicate that
an increased acreage of durum wheat
may be seeded where it has become
late for seeing other spring wheat. In
the earlier districts the crop is re-
ported having good stands and color.
WHEAT: Winter cereal crops in
Europe are reported generally in fav-
orable condition but dry weather in
Argentina is delaying seeding of the
new crop. AS a result of this less
favorable condition in Argentina Of
ferings of wheat from that country
have become smaller and this, togeth-
er with the unfavorable North Amer
ican spring wheat condition, has
caused continued firmness in the Liv-
erpool market. Prices of July wheat
in that market advanced about &c dur
ing the week although prices for Ma!
delivery held about changed. Argen
tine wheat shipments for the weel
were little more than one-half of tht
recent weekly exports and totaleC
only about 3,5O0,OOO bushels. Argen
tine wheat was quoted delivered a
Liverpool at $1.61 per bushel compar
ed with $1.64 for Canadian sprins
wheat and $1.59 for United States
hard winter.
The domestic wheat market advanc
ed about &c per bushel at the princi
pal markets with premiums holding
firm and all offerings of desirabl
quality readily taken. Eastern an,
! northwestern mills were rather activ
: buyers of hard winter wheat, partic
: ularly high protein types. No.
: hard winter wheat 13 per cent pro
tein was selling at Kansas City a
the close of the week at 121ac to 13
over the July price, which closed Ma
= 20 at $1.301a. Trade reports indicate
some deterioration in the new har
winter wheat crop but conditions ger
4 orally were considered favorable. Fe1
n domestic buyers were bidding for ne1
' wheat but export bids were aroun
S1.5212 for No. hard winter deliver
ed at gulf ports.
Offerings of spring wheat wer
small at Minneapolis and premium
were slightly higher. 13 per Ger
II protein No. l Dark Northern wa
quoted at Minneapolis at the close {
the week at 7c to 13c over the Ma
price, which closed May 20 at 81.
a The durum market did not share
IF the strength in the market for othe
1t spring wheats. Prices declined ver
e sharply in the week but advanced la
J. er to about the previous weeks clos
S Premiums for cash durum were furtl
c. er reduced, No. Amber being quote
IN at 1c TO &c over the Duluth Ma
v which closed at SISSY on May 2
r The demand for durum was limite
although it was more active at Il
so lower prices.
a The wheat market On the Pacif
30 coast continued firm with an acti,
n demand for all offerings. No. hal
re winter was quoted at S262 per II
a pounds or $1.57 per bushel at l.
+. Angeles with good milling grad
at selling at $3.50 per 100 pounds
It, S1.56 per bushel at San Francisco.
ry RYE: The rye market advanc
with wheat but the general tone
ks the market was not so strong as f
te wheat, particularly for the new or
grain. Stocks in the markets a
MS small but exports have been less tn
re trade reports would indicate. Receir
e at the markets were light and we
readily taken with No. rye quot
v at Minneapolis at S1.05-S1.O7 Z
ell bushel and at Chicago at S1.10-S1.1 Il
al CORN: The corn market continu
its rapid upward advance as a res