The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-01-20
Grain Market Firm, Light Receipts
and Active Demand Hold Cash
Prices Steady.

The grain market ruled steady I'm
der an active demand for practlcally
ali grains during the week ending
January IA, according to the weekly
Grain Market Review of the united
States Bureau of Agricultural Econ
omics. Increased offerings of Argeh-
tine wheat tended to weaken the
wheat market but this was offset IN
the domestic markets by an active
cash demand for good milling wheat.
Offerings of corn were of moderate
volume but industries and feeders
were active buyers and prices adj
vanced 1c-2c per bushel. The market
situation for rye and barley was prac-
tically unchanged but flax prices were
further advanced as a result of good
demand for domestic seed and higher
quotations for Argentine flax.
Larger shipments of Argentine
wheat Of good quality tended to weak
en- the general wheat market situation.
The large world shipments, however,
are being we'll absorbed and stocks on
ocean passage are about 100000
bushels smaller than a year ago, to-
falling about 45,000,00O bushels at
the close of the week. English port
stocks are materially larger than a
year ago but total only about 8,OO0,-
0C0 bushels. Assuming carryover
in Argentina at the close of the 1928
crop year equal to that of last year
and domestic consumption equal to
around 60,000,000 bushels of wheat
available for export from Argentina
this season or about the same amount
as was shipped out from the 1927
crop. Prices of native wheat at i'm
pOrtant European markets ranged
from unchanged to slightly lower. Ma
tive wheat is being quoted at Ham
burg at $1.56, Paris SLIGO, Milan 81. 90
and Copenhagen $1.38 per bushel. Ar.
gentine BarussO was being quoted
c. i. f. England at $14512 and g.
pounds Rosa Fe at S1.4S12. No.
Manitoba for February shipment was
quoted at $1.43% and U. S. No.
hard winter for January shipment a
81 49%.
WHEAT: An active demand fo
: milling wheat caused in part by som,
: improvement in the flour market helt
prices of cash wheat very firm ant
advanced premium on certain protein
types. The average quality of tn
weeks receipts at Minneapolis wa
poorer than for some time, whicl
tended to reduce the premiums for tn
lower quality grain. The higher pro
/ TEN types, however, sold at premium
almost sufficient to bring cash price
on a parity with Canadian grain quo
= tations, plus the import duty. No.
Dark Northern spring 13 per cent pro
: tein was quoted at Minneapolis at 3GC
y Soc over the May price, which close
I January 13 at $1.27 7-8. IA per cen
q protein brought 10c addition premium
u over these quotations, No. 2 Mantle
5; ba was quoted at $1.37%, which wit
the import duty added, would
I equivalent to about $1.793. High pre-
II Il tein types of Montana No. l har
j sprin~ were quoted at Minneapolis {
$1.64 7-8 tto $1.73 rs. No. l Mantle
ba was quoted at Winnipeg at $1.44h
an advance of See for the week. TIL
! sharp advance reflected the light SUI
- ply Of high quality grain. The quail
- ty of the late threshed Canada
:, grain is very poor and the bulk of tt
- receipts recently in the Canadian ma
!, kets showed little better than feedir
- quality. Larger offerings tended
- lower premiums of durum wheat bot
e at Minneapolis and Duluth, No.
= amber being quoted at both marke
!, at about 80 cents over the Dulut
Il Il May, which declined 12c for the wee
70 and closed January 13 at $1.21 SIS.
IF Premiums for high protein types
70 milling quality hard winter whe
were also advanced notwithstanding
1f slight decline in future prices in Il
If Kansas City market. The demand w;
reported slightly less active at Il
higher premiums at Kansas City b
X at Wichita and Omaha interior, mort
western and eastern milling interes
were active buyers. At the latt
IA market premiums were near the hig
g, est on the crop, No. hard whit
l212 %protein selling at SLAP, 1872
protein No. 2 hard winter was quot
at Kansas City at $1.39 to S1.46
)F IA cents to % cents over the M
S. price. 1870 protein sold at 20 to
v cents over May. Export inquiry w
n very dull but bids for No. hard wiz
er were equivalent to about $1.41 f.
gulf ports.
e Soft winter wheat again was inc
a pendently firm with prices SHARP
higher particularly at st. Louis whe
No. 2 red winter was quoted at 81.
NJ per bushel. Receipts at Cincinn;
ct were below market requirements a
country advices may result in cons
cradle deterioration in grain stored
II country elevators, which indicat
IS. continued i"ht offerings of mill
he quality wheat. No. red winter "
Id. quoted in the market at $145 to 81
he at Toledo at $1401a to $1.411b and
aid Chicago at $1.391s.
in Pacific coast markets were firm
ell though demand at Portland was
err ported quiet. The shifting of So
ng ships at Vancouver caused some
in quiry for wheat but farmers who h;
tv. dry wheat are not offering much
the current prices. The supply
ID available dry grain is becoming re
st lively small and quotations on mill
h. wheat were being advanced. Ex~
IN white wheats were quoted at Portls
70 at the close of the week at $1.29
Il $1.30 per bushel. Wheat prices W
n: very firm at San Francisco with
no ferings limited, No. 1 hard winter
u ing quoted in that market at 81
Id per 100 with very little available.
st ceipts at Los Angeles we're also lii
he and sacked California Baart VIII
st was being quoted firm at $2.371a
he 100 pounds. Feed wheat was quo
ST in that market at $2.26A per 100.