The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-07-12

ltOIil Slcm rust. European NAOtS /
are making favorable progress al
tho the season is somewhat late.
Beneficial rain have improved crop
conditions in Germany and the
United Kingdom. Trade estimates
place the Spanish wheat crop at
around 14S,OOO,OOO bushels COM
pared with 130,0O0,000 bushels har-
vested last season. Favorable pros
pect in France have been main !
tanned and a crop about 100000 |
bushels larger than was harvested
in 1928 is in prospect. Threshing
returns are generally good in Italy, |
although no definite estimates of
the crop are yet available. While |
crop outturns are still subject to
change with progress of the sea-
son, it appears from such data as
are available at present that the
decreases recently reported in the
lower Danubian countries may be
offset by larger haTvests in other
sections and that the final Euro
pean outturn may not differ great
~ from that of last season. Ger
many has increased import duty
on wheat effective July 10 to 42c
per buShel for countries to which
the nation agreement applies, in
Guiding the United States and Ar
gentina, and to 4S.6c per bushel for
Z other countries not subject TO such
conventions, including Canada.
, Weather in the southern hemi-
/ sphere remains dry and unfavOr-
able for seeding with prospects that
acreage will be materially reduced
in Argentina.
I WHEAT: Winter wheat harvest
ing in the United States continues
to advance northward and market
+ ingS of new wheat are increasing.
Private estimates indicate a small
er outturn than was in prospect a
month ago, as a result of a small
er yield of hard winter wheat than
was expected earlier in the season.
Cash wheat markets generally fol-
lowed the advance in futures, al
tho premiums for winter wheat
were reduced 3c-5c per bushel. A
large proportion of the receipts of
wheat at Kansas City during the
week was of new crop grain, which
was generally of good quality but
not high in protein. New wheat
was being more readily taken by
mills than the old and was bring
ing slightly better prices at some
markets. At Kansas City No. 2
hard winter 1870 protein sold at 1c-
&c over the July price of S1.16A !;
1913 60, 4c-7c over; and 1870, 7c-
10c over the July.
Some new hard winter wheat
was sold for export during the
week but competition from other
countries continues keen with Ar
gentina generally under-quoting the
American exporters. Exporters
were bidding around S1.22 per bu-
shell for No l hard winter wheat
for export and sales of No. 1 hard
winter fol the first half of August
shipment were reported at S1.26
per bushel f. o. b. the gulf. Hard
winter for the last half of July
shipment sold at S1.241a. No.
l hard winter wheat was quoted al
: Liverpool July 3 at S1.341a com
pared with 631s pound Rosaf,
: from Argentina at S1.32& and No
5 Canadian Manitoba at SLASH, al
for July shipment.
| Prices of spring wheat in the
cash markets followed the full ad
vance of the futures and closed
July 5 12e-13c higher than a weel
ago. Unfavorable prospects fol
spring wheat stimulated an active
!; demand for old crop grain anC
mills were active buyers Of current
offerings. 1870 protein No. DARK
Northern was quoted at Minneapo-
lis at 4c-6c over the July price OF
S1.26A; Is per cent, 12c-16c over;
and 149o, 22c-30c over.
] Canadian spring wheat market:
advanced even more than domestic
markets, July wheat at Winnipes
advancing 16 5~Sc for the weel
ending July 5. No. l Northern
Manitoba was quoted in that mar
ket at SLAB SO, which would com
pare IN general way with No.
Dark Northern at MINNEAPOLIS a
: S1.48A -S1.56A.
= Pacific coast wheat markets wer,
\ also firmer but the price advane,
! was less pronounced. Futur,
prices at both Portland and Seat
tie We're up about 612c for the weel
and cash prices were accordingi,
firm. Big Bend blue stem wa.
= quoted at Portland July 5 at S1.35
! hard, soft and western white a
| S1.21; hard winter, Northern sprins
and western red wheat at S1.16 pel
bushel. More new wheat was re
ported being contracted at country
points. Threshing was progress
ing slowly in central California anC
: buyers were generally awaiting {
- larger movement OF the crop.
l. The RYE market advanced will
wheat but unfavorable prospect
| for the new crop were also
strengthening factor. Private es
Inmates place the crop slightly be
low last years harvest. Offering,
of rye were light. at praeticalIv al