The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-04-26
Wheat Prices Suffer Sharp Decline
Feed Grains Lower With Wheat
Flax Market Also Dull

Favorable progress of winter wheat
together with the relatively large
stocks yet remaining in North Ameri-
ca and continued large shipments of
Argentine wheat unsold, were weak
ening factors in the wheat market
during the week ending April goth.
Prices of May wheat declined to the
lowest point on the crop with cash
graf nselling lower than at any time
since early in the year, according to
the Weekly Grain Market Review of
the United States Bureau of Agricul-
tural Economies. Corn and other feed
grains were lower with wheat, altho
light offerings with a fair demand
tended to offset the influence of low
er wheat prices and the decline was
less pronounced than that of bread
grains. Rye was independently weak
while flax prices also made moderate
declines.
The winter wheat crop is making
favorable progress in the United
States and also in most European
countries. The weather in parts of
Europe during the week was c0ol with
heavy rains in some areas. This de-
layed spring seeding but was general
ly favorable for wheat and rye. Ar
gntine shipments continued heavy, to-
falling over 100000 bushels for the
week. A large percentage of these
shipments is said to be going out I'M
sold and this is apparently a weak
ening factor in European markets
Liverpool prices declined about five
cents for the week and prices of ma
tive wheat in the principal European
markets were also lower. Spring
seeding in Russia has been delayed
and the wheat and rye acreage is re-
ported to be three per cent under last
years seeding.
North American wheat supplies con-
tinue large. Market stocks in the
United States are nearly 60,0O0,00C
bushels larger than year ago. Can
adam wheat stocks in all positions
were unofficially reported March 81
at 244 ,423,0 900 bushels, or about 49,
100000 bushels larger than a yeal
ago. Allowing about the same carry.
over as last season and deducting
about 100000 bushels for spring
seeding and 100000 bushels fol
food requirements for the next foul
months there would remain around
112, 100000 bushels of wheat for ex
port in Canada for the remainder Of
the season. This would compare will
about 106,500,00O bushels shipped ou1
during the corresponding period las
year.
Wheat: Cash wneat prices follower
the full decline in futures at mos
markets. The large stocks in stor,
in the winter wheat markets, togeth
er with the favorable progress Of thu
new crop and the continued slow de
mand, both from domestic buyers ant
exporters, were the principal weaken
ing factors. Best milling wheat wa
in fair demand and premiums for thi
quality were increased 1c to &c pc
bushel but ordinary grades were dull
No. 2 hard winter 1870 protein wa
quoted at Kansas City at the close o
the market, April 10, at Sc to SC owe
the May price of S1.091s; 1914 %, &c
&c over; and 1870, 7c-9c over the May
121s%o protein wheat was in good de
lHduu dI OHldud from QOm6SClc mill
and premiums for this wheat wer
steady. No. 2 hard winter was quot
ed in that market at S1.0S-S1.10 pc
bushel. Demand for soft red white
wheat continued very limited an
prices declined relatively more tina
for other classes of wheat, No. 2 sof
red winter wheat being quoted at 81
Louis at around SIPS to S1.28, tn
lowest point for the crop to date. Nc
2 soft red winter was quoted at Kan
sas City at $1.14 to S1.I6 and at Gin
cinnati at $1.281S-$1.29h per bushel.
Cash premiums for spring whea
held firm but May wheat at Mime
apolis declined 8 3-3c. 1870 protei
or better types were bringing abou