The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-07-19
Grain Market Unsettled; Wheat
Firm on Unfavorable Outlook

While the acreage of spring
wheat other than durum has been
increased about As per cent COM
pared with acreage harvested last
wear, the condition of the crop at
the first of July was only 74.4%
of normal which would indicate a
production of about 193.OOO,OOO
bushels or about 80 million bushels
less than last seasons harvest.
With further deterioration re-
ported since the first of July the
cash spring wheat markets have
held relatively firmer than other
classes of wheat, altho mill de-
mand became slightly less active
than short time ago as "a result of
the dull flour demand. No. l dark
northern 1870 protein was quoted
at Minneapolis on July IL at SC to
sc over the July price of $1.27A;
1870, Ice to I5c over and 14%o, tic
10 25c over the July.
The duIum wheat acreage was
reduced 2O%o from that in 1928 and
the condition of the crop July l
was only 67.5 per cent of normal
as compared with an average con-
dition of 80.4 per cent. This con-
Gition Indicated a crop of 58,27S,-
GOO bushels compared with 92,770,-
COO Dushel produced in 1928. These
prospects of a small Outturn have
held the durum market firm altho
demand has become rather less ac-
tive. No. Amber or No. l mixed
1870 protein was quoted at Mime
apolis July II at the Duluth July
price of $1.17 to about 10c over.
Stem rust is developing slowly
thruout the spring wheat area. In
most of eastern South Dakota and
southern Minnesota, the wheat is
in the late milk or soft dough state
and with a light stem rust infec-
ton on or about half the plants. In
the Red River valley and north
eastern North Dakota wheat varies
from the boot to Towering stages
with bare trace of stem rust. Lo-
cal area in southeastern North Da-
kota have somewhat more stem
rust present.
Canadian spring wheat markets
made further sharp advance dur
ing the week as a result of the less
favorable prospects for the new
crop in that country. No. l Mani
toba northern was quoted at Win
nlpeg at the close of the market
July IL at $1.47% or an advance
of 3-8c for the week.
Pacific coast wheat markets were
unsettled with the trade generally
awaiting crop and market develop
ments. Prices at Portland were adj
vanced only slightly with Big Bend
blue stem hard white quoted at
S1.34, soft and western white at
S1.23, hard winter northern spring
and western red wheat at SLIDE
per bushel, basis No. 1 grade, sack
ed. Export demand was dull and no
new business was reported. No
new crop wheat has yet been re-
ceived at the terminals but the
prospects for the new crop are
good.
CORN
The corn market situation was
not materially changed during the
week. Future prices at Chicago de-
cllned but cash prices at most mar
kets held steady. The area in corn
this year is estimated at $685.
600 acres, or about $3.50 below the
acreage harvested in 1928. The con-
dltlon of the crop at the first of
July was 1852 of normal or -
point lower than a year ago.
This condition indicates a cron of
about 2,662,000,000 bushels or a.
bout ITS million bushels less than
last seasons harvest. The crop is
generally late but weather has be-
come more favorable and the crop
is now making better progress.
Offerings at the markets con-
tlnue fairly large and the market
stocks have Increased during the
past two or three weeks. No. 8
corn was quoted july II at
Chicago at Csc to 96Ac and No. 8
yellow at 96%c to 9715c.
OATS
The oats market held generally
steady with but little change in
price. No. 3 white oats was selling
at the close of the week at Chicago
at 45c to 46Ac; at Minneapolis
IA 1-8c to As 1-8c; Kansas CITY 47c
to 48c per bushel. The condition of
oats on July 1 was 1870 of normal
with a ten year average
# 81 per cent. The reported con-
iition indicates a crop of about L.
247 ,147, 900 bushel, which is about
'0O,OO0,OO0 bushel less than last
year. :
The BARLEY market was also
steady during the week with the
influence of the large stocks and
foreign demand offset by
reports of further deterioration in
he crop. The condition of barley
1t the first of July was only 76.7l
Der cent compared with S1.S per-
,ent last year. A further increased
n acreage has taken place and
g, 900 acres We're reported