The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-06-07
Heavy Offerings Forced Wheat
Prices Down to Lower Levels

Decided weakness prevailed Ia the
gram market during the week ending
June J ana prices OF the pfineipal
grains were forced TO the lawest lev.
q Tor The season 10 date according Ia
the weekly Grain Market Review az
The " D. bureau Of Agricultural Hleez
hemiesi Pressure Of offerings from
Argentine and Canada caused a shafn
decline ia wheat prices al Liverpoel
Which was Immediately reflected In
lower prices Ia domestic markets,
Generally favorable progress af the
winter wheat crop In the ttnifad
states, ana Europe, together with i'm
proved conditions for spring wheat ia
North America was also weakening
lHetef and more than offset the in
fluehee or the continued rapid disap-
peafHhee OF worlds wheat supplies.
othef grains were lower with wheat
but better weather for corn and oats.
together with a further slaekening In
demand, also contributed for the
weakness Ia the market far these
grains Prices declined sharply, hath
Ia The Futures and Ia the cash market,
although offerings were relatively
small and demand of sufficient vol
ume TO absorb the daily arrivals and
cause some reduction Ia market stock,
Rye was lower with wheat and flax
declined sharply with the market,
lacking support
With the exception of a slight up=
ward revision for the Indian crop,
there have been no recent changes re-
ported Ia the acreage for the 1920
wheat crop. Estimates for over half
Of the worlds wheat areas show an
Increase Of about 100000 acres over
the acreage Ia these countries last
season The Indian acreage, according
20 the latest estimate, Is still slightly
below that Of last season hut the crop
Of nearly Bs4 million bushels Is ia
prospect, This Is about 20 million
bushels over last seasons final esti=
mate but Is still slightly below nar=
NAL domestic requirements and sue
geHts moderate imports during the
coming months,
The eutleek for European countries
continues favorable but the final CUB
'ph will depend largely upon weather
conditions during the next sisty DAVIS.
Showers improved the crop outlook Ia
France during the week and benefit
eial rains were reported Ia the sur
plus producing countries Of the lower
Danube The conditions Of the Hun
gafiah efep Is reported above average
No estimate Of acreage Is yet avail
able bat some reduction Ia area APP
pears probable as the result Of e8=
tehsive winter killing Ia some dis
tfets Reports from cFeehe-alaVafia
are also promising, Import taifihgs by
European countries continue fairly
large and with the rapid reduction Of
native supplies, resulting from heavy
domestic disappearance both for home
consumption and for experimenting
the shortage Of feed grains. import
demand Is being we'll maintained, De-
mand for foreign wheat IL France has
increased Notwithstanding the recent
increase Ia tariff duties, according 10
trade reports,
WHEAT
Domestic wheat prices declined 4 10
s cents per bushel during the week,
American exports apparently have
been unable 10 compete effectively
with cheaper offerings from Afgen-
tine and Canada and exports have
been relatively small, hetwithstahd=
ing the recent reduction Ia freight
rates 70 Atlantic seabeafd and gulf
peftsm
The unsettled situation In the fu=
tufe markets, together with the de-