The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-08-10

Mored Prospects LOT spring Ion"
RROskening Factors
Unusually 1yy+5 nsav With improved pros
wheat td 'Os spring grains both in the
poets lo CITES r. and Canada caused
United -. 3'o weakness in the domestic
contlllue.oa ,l,ets during the week end
grain Ma 4 + according to the weekly
ing = Au MARKET review of the U. s. Blu
gram !. ma AGRICULTURAL Economies. Cen
reaul o. f.1,l6rable progress Of European
orally I La lower foreign markets were
crops saa nJ factors. Prices on
also , wfaH' showed further declines as
all gran with those of the previous
conlpabie ,t soft winter wheat cOntin-
week III ming relatively large premi-
ueo y, over the hard winter.
uI3 n,., ~, Generally favorable weather
wiz 1,jy crops made favorable
duTlns 5.s an and private estimates at the
pI0sl1f AUGUST for winter wheat and
tiTS. u lnring grains were materially
mos l sp over the official estimates
I1cL Tea first of July. If these estimates
al W. 5orne out the supply of wheat
are O oason will be but little smaller
talS lot Iost year when the increased
ln@ r,o we, is taken into account, while
cam! snnnIy of feed grains will be ma
..Ds:oIiT larger than last year. Stocks
lq e ,p.bsat in the United States at the
o. o.. %' If the season, July l, were
( gIy. & million bushels larger than last
oou' when commercial mill stocks
s 80 taken into account and tOtaled
TsaaTTovimatelv 115 million bushels.
pERondition of L. S. Spring Wheat
Snring wheat in the American
.ortbwfst is maturing mostly ahead
~ ~ tbp rust and damage will be very
oiiobt according to reports to the U.
: Rnreau of Plant Industry, unless
40 weather turns unusually favorable
toy rst development. Stem rust is
pideIv distributed but is not generally
s "l in the Red River valley of
Minnesota and North Dakota. There
i Init little rust damage farther west
IN North Dakota and still less in
Montana. No appreciate damage,
eycept to very late fields, has occur
red in South Dakota and southern
Minnesota.
Foreign Markets
Weaker foreign markets reflected
generally favorable prospects abroad
and in Canada. Private estimates
now place the Canadian spring wheat
crop in the prairie provinces around
900 million bushels with no serious
rust damage in prospect and the crop
nearing harvest. This favorable out
look for the new crop is stimulating
the grain trade in Canada to dispose
Of old crop stocks and marketing anC
exports have been heavy during the
past month. Commercial grain stocks
in Canada were reduced about 22,000,.
900 bushels during July but were still
about 28 million bushels larger at the
first of August than a year ago. (The
stocks of wheat in Europe are small
and demand for foreign wheat has
been fairly active. Rains are delay
ing harvests in Germany but the crop
is reported in generally good condi-
ton. Yields are irregular in France
but the quality of the new wheat is
reported good and of heavy weight
Dnuth has done considerable damage
ii Turkey and Asia Minor but rains
have recently relieved the situation il
Hungary. Winter crops in Russia are
poor, according to recent trade re.
ports.
Cash Hard Winter Wheat
The movement of new hard winter
wheat in central western markets
continued unusually heavy, receipts a
Kansas City for July being the larg
est on record, tOtaling nearly 25,00O
cars. The slow export demand a
the gulf has increased the movemen
to the central western markets ant
has caused congestion at some points
Mill and elevator storage space is be
coming crowded, which has tended t
limit the demand and weaken tn
market. Prices of hard winter whea
declined . to II cents at Kansas Cit
where Y per cent protein No. 2 har
winter was quoted at &c to sc owe
the Kansas City September price 0
SlO94; 12126 protein was quoted 3
10 lOc over, and IL per cent 10c to Ia
over.
Common protein types were bring
ing about &c under the Septembe
price Protein inspections on MOI
tnan $4,000 cars during July at Kal
SdS Olty showed an average protei
content of 1882 per cent. Hard vii
Sef prices were lowered at other ma
AeFS also with mills the princip
source Of demand. Cash wheat WI
Ic 10 lie lower at Wichita. No.
1 ~ I'd winter was quoted at Omaha
*I9S to S1.16 and No. 2 hard at ST.
su ?l'l0. No. 2 hard winter w
selling at Chicago at $1.231a to ST.,
anu at Duluth at $1.15 to SIPS. Ea
y arrivals of new winter wheat
minneapolis from Montana and Sou
Dd ta3 showed high protein and h
tendency to lower premiums in tn
t oa The export demand for wi
vel Wheat is still limited although q
ia u quotations were more neal
Co me Tor export business at t
G SGSe OF the week. Exporters we
55.uulng S1.24 to $1.25% for No.
no,t winter delivered Texas o.
f pSir No: 2 hard winter for Aug,
w vnpment from Atlantic seabord DO
~ @aS quoted at the loose of the we
On Liverpool at $1.36 compared w
iSto oSSa /, of $1.13% for No. 8 M;
Rosa oSa't6$ l, 3, 4 for So pound Argent.
u 9I,4l for Indian wheat.
~ Cash Soft Winter Wheat
slir oit soft winter wheat market v
ms snSly lower at some points but
War ,u was active and milling gra
psr ARE bringing 25c to Csc over &C
Peco?;le5 grade sof hard winter wht
lsroTal at St. Louis were reIatiy
sta $e but mills in the southeast