The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-06-15
REVIEW OF THE GRAIN MARKET

gress of the winter wheat crop and
3 continued dull flour demand. brot
about q weaker situation in the do
mestic wheat market, according to the |
weekly Grain Market Review of the |
United States Bureau of Agricultural |
Economics. Corn was also lower To- |
ward the close of the week, influenced
bv the favorable prospects for the
new crop. Rye was firm. refleoting
the limited supply and unusually poor
outlook for this seasons crop. Oats
and barley we're steady while flax adj
vanced as a result of some delav in
! planting and an active demand from
crushers.
WHEAT: The improvement in the
winter wheat crop during Nav was
confirmed by the June report which
gave the condition as 1876 per cent of
normal compared with 1922 June last
wear and the 10-year average of 1872
per cent. This indicates a production
of 512.252, 900 bushels or nearly &c.
OOO, 600 bushels above the Nav / es
innate. This would still be about 40
10000 bushels below last years har-
) vest. The Improvement was princi-
pally in the Central States, notably
Kansas, Nebraska, and Oklahoma. In
other sections the outlook is still un-
satisfactory and an unusually short
crop is in prospect in Ohio, Indiana,
and Illinois. The Kansas crop gives
: promise of being about 40 per cent
larger than last year and the Okla
: homa crop more than go per cent
larger.
The condition of spring wheat on
June l was 70 per cent of normal anC
: except for 1926 is the lowest figure
: on record. The crop has been retarded
: by insufficient rainfall in all the i'm
!, portant spring wheat states. Som,
moisture has been received since tn,
q first of June, however, and conditions
:: have improved somewhat, according t,
q trade reports but continued favorabl
e weather will be necessary to avoid ex
q cessive damage.
s General crop conditions in Canad
2 are the best for early June for nun
II Der of years, according to the secon
general crop estimate of the Manitob
s. Free Press. Wheat in the prairi
g. provinces was from to 6 inches hig
% on an average on June with man
u points reporting as high as 10 inche
The plant is well stooled and in
~ vigorous growing condition. Only
1e few points reported any serious nee
u of rain and heavy rains were gener
n over the the provinces during June
r, and 7.
~ No important changes in the Gre
ne situation have been reported in 9th
81 foreign countries. The condition
y, the Italian wheat crop is good wi
IN IN improved reports in France, Australi
Vi and Czechoslovakia. In Northweste
y Europe crops are still somewhat bac
II ward and recent cool weather has I
y tarded growth.
~, CASH WHEAT: The cash whe
nu market generally followed the decli
- IN the future but premiums held ge
~ orally firm. High protein hard wi
~ ter wheat was in better demand a
~, III IL per cent protein No. 2 hard whit
-, wheat was quoted at Kansas City
~ 23c-29c over the July price, viii
l ae closed June at $1.33 So, a decli
OF about &c for the week IL per &C
protein was bringing 11c-18c over I
July Trading in new crop wheat
ry. still light with buyers at Kansas C
generally bidding about &c over |
July price for No. 1 hard winter
IA June shipment The supply of S
winter wheat is practically exhaus
at the principal markets and quo
i've lions are largely nominal. At st. Lo
the a few cars were available and w
mn readily taken by the mills. No. 2
ig- was quoted at that market at the cl
9 a of the week at $19.3 At Chicago
all 2 soft red winter was quoed nomir
on, ly at $1.6915 and at Cincinnati
and $1.77-$1.79. Some new winter VIII
to was reported harvested in Geor,
the which as of exceptionally good quail
No. red winter was quoted at Tol
'ers at $1.77-$1.78 or about Soc below
recent high point reached in N
re- Mills generally were awaiting
movement of the new crop grain.
Milling deamnd was more activ,
y, the spring wheat markets as re
nan. of the decline in wheat prices and
III miums for the lower proteins v
firm while high protein wheats v