The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-01-06
REVIEW OF THE. GRAIN MARKET


Grain MarLet Holding Steady at the
Close of eYar-Wneat Prices Low
er Than Year AgO-Feed Grams
well Above Last Season.
While the usual holiday dullnesS
prevailed in the grain markets dur
ing the week ending December 81, de-
mand continued fairly active for the |
moderate receipts and prices, were
holding fairly steady at the close OIL
the year, according to the weekly
gram market review or the y. ).
bureau of Agricultural Economies:
wheat prices on an average closed
the year IL cents to 13 cents below
comparable quotations at the prlncl-
pal markets at the close of 1926. The
prices OF soft red winter wheat were
practlcally the same as year ago
ana hard winter wheat prices at the
principal markets were only DC to &c
lower. Hard red spring wheat prices
reflected the large increase IN the
crop this season and were llc-12c
lower than at the close of 1926. Du-
rum prices showed the greaest decline
and No. 2. Amber Du1um was quoted
at Minneapolis and Duluth around. As
cents lower than last season. Rye
ana the feed grains were materially
higher at the close of the year than
at the close of 1926 notwithstanding
the increased production of corn and
rye this season and the record crop
OF barley. Corn prices were 10c-12c
higher on an average than at the
close of 1926; oats were about &c
higher: rye &C. to 12c higher and bar
ley 1Oc-15c higher for the better
grades.
WHEAT: Increased production of
wheat in the principal exporting coun-
tries has been largely responsible for
the lower price level for that grain.
The influence of a larger production
however has been partially offset by
the poor quality of the crop in Europe
and CANADA and world prices as rep
resented by quotations for wheat for
March delivery at Liverpool are only
about DC lower than year ago. Bas-
ed on world shipments and changes in
stocks on ocean passage about forty
million bushels more rye also have
been taken by the European countries.
AT the close of the week U. S. No.
! hard winter wheat afloat was being
quoted at Liverpool at $1.49%, No.2
Canadian Manitoba arriving at S1.5O-
12, SO pound Argentine Rosafe afloat
at $1.49% and 60 pound Argentine
Baross at. $1.46%.
The demand for good quality mill
VIZ IN Io -
continues active with firm premiums
being paid 9for high protein types
Ii per cent protein Mol dark northern
was quoted at Minneapolis at the
close of the week at 22c-32c over the
May price, which closed December so
at $1.2612. IA per cent protein was
bringing 36c-42c over the May. Pre-
miums for durum wheat were also
firm with milling demand good foi
the limited offerings. No. 1 Amber
was quoted at Minneapolis and Duluth
at 33c-35c over the Duluth Nav price
which closed December 80 at S1.22 SIS
] While hard winter wheat mills re-
! ported sclow. demand for flour they
were maintaining fair operation or
old contracts and the demand for mill
ing wheat was sufficient to readily
absorb the offerings at steady pren1i,
ums. Ii per cent protein No. 2 hare
winter was quoted at the close of the
week at Kansas City at 8 cents to 12
cents oev rthe May price which closed
December 80 at $124H. 10 per cent
protein of the same grade brought II
to ~ cents over the December price.
NO. z hard winter with 111a per cent
protein was quoted at S1.30 Omaha
Prices of soft winter wheat also held
firm with offerings below trade re-
qulrements at some markets, particu-
larly st. Louis where No. 2 red winter
was quotedIaat 81 "A to $1.45 per bu.
shell No. 2 red winter was selling AT
Toledo at $1.39 to $14O and at Gin
cinnati at SLAB to S1.44. Pacific
coast markets were experiencing boI-
lday dullness and no new business
was being contracted for continental
or oriental shipment. Exporters were
buving some dry grain and white
wheats were quoted at Portland at
around SIPS per bushel. Baart
wheat at Los Angeles was Quoted
firm at about Slab per bushel.
AhO rye udrheG was macClVe but
prices held steady with sufficient do
mestlc demand to absorb the limited
offerings. No export sales of i'm
portance were reported. No. 2 rye
was selling at the close of the week
at Minneapolis at $1.OO1a to $1.1O1s
per bushel.
Corn futures prices declined slight
ly at Chicago influenced by liberal
offerings but cash prices held gener-
ally firm with demand active and all
offerings being readily taken. There
has been an increase of about 4,75O,-
OOO bushels in the market stocks since
the first of December but they are
selll about nine million bushels small
er than year ago. With a larger
percentage of the crop located west of
the Mississippi river the movement
from that territory has been ClaEger
and corn from the southwestern mar
kets is only being taken by eastern
ouyers but according to trade reports
Is being brought to interior points in
Ohio and Indiana where the quality is
poor this season. Export demand al
SO continued of good volume with soc