The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1928-10-25
MARKET TREND
Is UNCHANGED
Indications Are Wheat Prices
Will Remain at Present
Level

Indications are that the preSens
trends in industrial activity and in
nonagricultural prices will maintain
present business conditions until the
end of the year, according TO-
statement issued today by O. NJ.
Fuller. assistant farm economist at
the state agricultural college.
1.-THE principal unfavorable factor
is the higher level of interest rates"
he said. 1.-THE rising trend in nom
agricultural prices which has been
in progress on a moderate scale
since last fall has been accompanied
by a continued recovery in general
business conditions from the recess
sion Of last winter.
"Wholesale market prices reached
the highest level so Tar this year
during the second week Of Septem-
Der and have declined since then
from an index of 154 to Isl Oct. 2.
The index Of farm prices Sept. 10 at
14l was 2 points higher than Aug.
Is and only l point higher than the
index of q year ago. The index Of
the general level Of North Dakota
farm prices for Oct. Is is point
higher than that Of month ago.
"Prospects are that wheat prices
will hold near present levels during
the next few weeks with fluctuations
due to reports of crop conditions in
the Southern Hemisphere. A con-
tinuation of low prices will probably
lead to an increased consumption and
some increase in the price Of hard
red winter and spring wheat may be
expected before the end of the sea-
son. Forecasts and estimates OF
crops in 81 countries of the northern
hemisphere total 1926 million
bushels compared with about 1905
million bushels produced in the same
countries last year, an increase OF 8
per cent. The world wheat supply
outside of Russia and China now ap-
pears likely to be per cent larger
than the supply available for last
! season but this increase will be off
set in part by an increase in demand
for wheat. Estimates Of rye pro-
duction in 10 European countries now
total 815 million bushels compared
with ISL million bushels last year.
Wheat Production Increases
"The estimated production OF
durum wheat in North Dakota Oct. !
was 66,715, 900 bushels. This is an
increase of 1928, 600 bushels over
that produced in 1927. The total
estimate of production Of other
spring wheat in North Dakota Oct.
/ was 74,158,O0O bushels. This is
an increase Of Isl thousand bushels
over the Sept. / estimate and an
increase Of $500, 900 bushels over the
1927 crop. :.
'Indications are that the present
level Of flaxseed prices will be main.
tained for the next few months. The
production Of flaxseed in the United
States in 1928 is now estimated al
22,472, 900 bushels. This is consider.
Vably below last years crop Of 28.'
$4,000 bushels.
Potato Forecasts Unchanged
1.-THE forecasts Of potato produc
ton Oct. / were practically the same
as those Of q month ago. It seems
unlikely that potatoes will advance
in price much before the end Of TIL
year. The chief factor which nigh
make the actual out-turn Of the cro]
less than now estimated is the ef
feet that the unusually low price nov
prevailing may have on he amour
Of potatoes left in the field.
Information available indicates
that the comparatively heavy bee
cattle receipts during Septembe
will not continue and that market
lngs during the balance Of 1928 viii
be less than last year. The prosper
Gus condition Of the cattle industr!
Is probably the most outstanding
feature Of the agricultural situation
in 1928.
"With fewer hogs to be markete
Mis- winter, with reduced storag,
stocks and with = strong domesti
and foreign demand, it seems likel
that the decline in prices which ha
continued into the second week 0