The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-02-03

heavy N0IVipIS Lower Prices of
COrn-SlOw Export Demand Weak
ems Wheat.
The grain market developed a
weaker tone during the week ending
January %, according tn the weeII1 |
Grain Market Review of the II s
Bureau of Agricultural Economic
The wheat market was weakened nv
the limited export demand caused nv
heavier offerings of wheat from the
southern hemisphere. large in
crease In the movement of corn turned |
corn prices downward. Future mar
kets for other grains were also slight
ly lower but premiums for the cash
offerings largely offset the decline in
future prices and quotations ON oats
rye and barley were practically I'M
changed from those of the previous
week.
The final estimate places the 1927
wheat crop in Canada at 44O O25 mn
bushels or a reduction of about four
million bushels from the November
estimate but about thirty million
bushels over the 1926 production
While the final estimate indicates .
larger crop than has been recently
expected by the trade, inspection re-
ports show that large percentage is
of poor quality. The supply of wheat
remaining in Canada is apparently
about forty million bushels larger
than a year ago since exports to the
first of January were onlv about
four million bushels larger than for
that period last year. Argentine ship
ments increased nearly a million bush
els during the week but Australian
shipments were slightly smaller and
loadings in that country were below
trade expectations. Stocks on ocean
passage increased about seven million
bushels but arrivals in Europe are be-
ing absorbed according to trade re-
ports.
Future prices at Liverpool declined
about two cents on wheat for March
delivery and quotations at Buenos
Aires held generally steady with pric-
es practically unchanged at Milan and
Copenhagen but slightly higher at
Paris and Hamburg Quotations on
Argentine wheat were advanced more
than cent per bushel at Liverpool
and GA pound Rosa Fe afloat was
quoted there at $1.49% compared with
$1.48A for No. Manitoba afloat
from Vancouver and $1.5O1a for No. 2
hard winter for January shipment at
Atlantic coast ports.
WHEAT: While there was fairly
active demand for cash wheat premi-
ums for high protein wheat were q
little lower at most markets toward
the close of the week. Some new
high levels were reached on high pro-
tein types early in tn eweek, one cal
of No. l dark northern with 14.5 pei
cent protein selling as high as $1.9C
per bushel at Minneapolis. At thu
close of the week, however, whea
carrying one per cent more protein
sold at onlv u cent per bushel higher
II per cent protein No. 1 dark north
ern was quoted at 10-16c over the Ma!
which closed January 27 at $1.27. 1;
per cent protein brought 30-38 cent
over and IA per cent 43-48 cents owe
the May.
Premiums on Canadian wheat wer
, also lowered, No. northern Manitob
: being quoted at the close of the wee
at Winnipeg at SLAP 7-8, which j
comparable in general way to tn
high protein Montana wheat whic
was quoted at Minneapolis at Sligo [
S1.75. Durum wheat was in fair de
mand but mills reduced their premi
ums sharply, particularly at Dulut
= where No. Amber durum was quot
ed at 20 cents over the May price @
S1.21% on January 81. No. 2 durul
sold at 10 cents and No. 1 mixed 9
D 20 cents over the May in that marke
No. 1 mixed was quoted at MinneaI
U oils at Z cents under to 80 cents owe
the May.
. Hard winter wheat prices decline
4 1-Sc but mills were moderate buyer {
good protein milling wheat. II pt
0 cent protein No. 2 hard winter Wa
0 quoted at Kansas City at 9-15 cent
S over the May price of SIPS on JAM
|, airy 27. 10 per cent protein brougl
1924 cents over the May but d,
: mand for high protein wheat was nj
It urgent. Very little winter wheat Wa
r being exported but around $1.41 pt
bushel was reported being offered
exporters fob. the gulf. Relativel
Il small farm stocks of wheat reporte
J. in Kansas, together with private r.
ports of new crop damage by dry we;
S ther, exerted slight strengthenin
[. influence in the winter wheat market
Soft winter wheat markets were ais
d weaker and prices were l to 8 cen
lower. Offerings of soft winter whe;
=, however were limited and were read
ly taken. No. red winter was quote
d at the close of the week at st. Lou
at $1.51 to $1.54, at Cincinnati
d SLATE to SLASH, at Chicago
$1.441s, and Toledo at $1.44 to STA
\. Pacific coast markets quiet.
new export business was reported
d Portland and domestic prices we
above export bids. Dry white whea
20 for export were quoted around $1.28
to $1.29 while wet wheat fit for e.
\. port was bringing $1.23 with r,
wheat selling around $1.2O at Por
\. land. Millers were fairly active bu
ers of hard winter wheats. The whe
\. market was firm at San Francis
where mills were paying $2.35 per Il
v, pounds for No. l hard white Whes
Large arrivals weakened the Los A
to geles market and California baa
wheat sacked was quoted at $2.35 al
to feed wheat at 1925 per 100.
CORN: An increase of more TIL
ri five million bushels in the receipts
corn at the principle markets weake
to ed the market for that grain and t
prices declined to 8 cents per bus
i ell for the better grades and as mu
at 6 to cents per bushel in sor
rs markets for the lower grades. Fee