The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-02-10
Argentine shipment t,H WeaksGs
Wheat t, eiDt Largest on Crop

..,onfine Shipment -
Heavy AT2g{eerrktetLCorn Higher-Mar-
Wheat at. lin Largest on Crop
esorinos of Argentine wheat
Heavy oII I rEsbeat market during
weakened "a VIZ week ending February a,
during the 70 " the weekly grain market
according y the United States Bureau
review OF ,. ImD Economics. A CON
tnusad o%mestic buyers ana exp e%Po of tbe
from oUi, corn prices in the tace Oh tne
advance. , CT receipts on the crops.
largest lli1 dnIl with wheat but oats
Rye was [s+ q"' higher although the gen
we're SiIsH .st situation was practlcally
eral nam nam The barley market was
unchall5; ,reguIar with declines at some
rather inf higher prices at otne aIs
points Ou' sIigbtlv lower with the mar
ke S:5l1oments of AGe odn WhGa' f fo
.i Salp. around 6,SOO,OOO bushels 1Er
talins .ol were the largest since early
the "15 Don and brought the total ship
last sea f1on, that country since the
menI' li Ianrorv to nearly 26 million
iiIste i. or almost 10 million bushels
0us Io Than for the corresponding perl
nOI iost wear. These heavy Argentine
Cd . IaS' we're offset somewhat by
snlpH un,oG shipments from Australia,
the MI. ~ have totaled about II million
y E.SeI since the first of January
Jun .u,,.nared with nearly 10 million bush
c 60 for that period last season. The
e., ,.i ~ .nnnjy available in the Southern
I Igy'l.;s s05P is around 100000
1 heIlI below that of last season.
T 9lli.e' heavy offerings of Argentine
Ii,Cs we're reflected in a decline of
T lo"t e. ner bushel in Liverpool prices
a auJ lower quotations in other Euro
anu markets. Native wheat at Paris
gooIirpd to S1.56l2 and at Milan to
JGl&. Native wheat at Hamburg
Iaid Unchanged at $1.53. Argentine
e cSiS Mound Rosafe wheat for Febru-
wv sbipment was quoted at Liverpool
aat's14i. U. S. No. 2 hard winter at
Tl7 and No. Manitoba at $1.37.
Rnenos Aires prices held relatively
tirmer than Liverpool and were only
about 1c lower than a week ago.
The first estimate of the Indian
wheat acreage places the area seeded
st 3O632,OO0 acres, which is a slight
Increase over the first estimate of
last wear but is below the final har-
vested area last season. Growing
conditions have not been particularly
favorable since the Monsoon rains,
which are an important factor in the
situation, were below normal in some
Of the important producing area, in
GLIDING the Punjab. Winter rains in
some seasons offset an unfavorable
monsoon but during the past few
months only light rains have been re-
ported in the most important wheat
regions.
WHEAT: With practically no ex-
port demand for American wheat the
domestic markets were dull. Mills
took good amounts but premiums for
protein were lowered slightly at most
markets. No. l Dark Northern spring
% per cent protein was quoted at
Minneapolis at 30c-38c over the Nav
price, which closed February 8 at
a26. Premiums for cash durum
wheat were also lower with No. 1
Amber quoted at the Duluth price of
Sl2l to Csc over this quotation.
Continued reports of damage to
growing winter wheat caused by the
drought in western Kansas and also
insufficient moisture in other winter
wheat states offset to some extent
me influence of the poor export de.
mand IN the winter wheat markets
hemumS were slightly lower, 10 PEI
cent protein No. hard winter selling
d AanSaS City at 18c-25c over the
May price Of 1924 rs, February 3
Export bids were around SLAP f. O. b
uacS at gulf ports for No. 1 hare
winter Soft winter wheat continue,
IL relatively better demand than 9th
to classes Of wheat and No. 2 red win
vel was quoted February 8 at Chi
S%SS at $L4l, Kansas City at S1.43
S; q 20, 81. Louis $1.55, Cincinnati
SIGS'''2-SL0Ol2, and Toledo $1.45-$1.
Ca r5clilc coast markets were firm
PoOu quality wheat was scare at Sal
francisco where No. l hard white wa
y T5"et at S2'4O per 100 pounds. Fee,
50 On co was d. selling in that market a
t o-O'g-'oo' The Los Angeles mar
wS MI" we're weaker. California baar
. "agat' sacked, being quoted at So q
ana Cd iced wheat at $500 '' V-''
o, CQEN; While corn shipments wer
ANY, srva' ". IN excess of the movement q
Fst " utn lei week this season. the mar
L. b "i .ne close of February 8 wa
goo ~sner than 3 weeks ago. Continue
hdn,t HGport demand from feeders an
rr '5S' ,i together with active buy
was y T. exporters at advancing price:
nark ote strengthening factor in tn
are ~ supplies of Argentine cor
tbro~ UeSSOmng practically exhauste
mentsS I and n1e &C continued heavy ship
Dean '' d and this is turning the Euro
The . Uemand to the United State,
MANY ' Fnn.su supply of feed grains i
ed Eri nufOpean countries has advanC
the F Level OF these grains almost t
At tS eVel Of the bread grain price.
buyers T vlOse OF the week Europea
caSo o'S T Were bidding 12c over the Oh
York 10y Price for corn f. O. b Ne,
Nav f Sma o 0sc-6&c over the Chicag