The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-06-14
Charm Advance In Grain Market
1r to Legislation and Prospects

poland. Rumania crops have been ben
Gifted by recent rains. The outlook in
ItaIv continues favorable and condi- /
t;ons in France and the United King
dom have improved. Dry weather in
Argentina is retarding seeding and a
material reduction in wheat acreage is
expected by the trade, unless general
rains are received Immediately. Light
showers occurred in some areas dur
ing the week.
WHEAT
Harvesting of new hard winter
wheat has begun in the southwest
and the first cars were reported I'M
loaded in Texas during the week. Do
nestle cash wheat markets followed
generally the advance in futures pric
es and premiums held steadily with
mills active buyers of desirable mill
ING wheat. The advance in cash prices
to relatively higher levels than for
eign markets checked export sales
and current offerings were taken al
most entirely by domestic buyers, ex-
cept those of durum and wheat from
the Pacific coast. At Kansas City the
cash prices advanced SC to 13c, de-
bending upon quality. 1870 protein
No. 2 hard winter was quoted in that
market on June at lie to &c over the
july price which closed at $1.01 7-8;
12b96 protein 4c to &c over; and IL
per cent 7c to lie over the July. A
bout a million bushels of wheat were
shipped from Omaha during the weel
mostly on previous sales to the sea
board and gulf ports for export. Casl
premiums were well maintained IL
that market on good mill demand anc
7 No. 2 hard winter 1870 protein wa
quoted at $1.10 per bushel.
Soft winter wheat prices advances
lie to lac at the principal markets
r No. soft red winter was quoted a
: Kansas City at Sill to SLIP pc
p bushel. While higher prices restricte
!. export sales of old wheat, new har
: winter wheat was being offered TO
e the first half of August shipmen
S fob. gulf ports, at lac over the Oh
j cago July price which would be equiv
e alent to about $1.10A. Exporters WEI
bidding $1.09 for No. ordinary har
: winter from the old crop for Jun
y shipment was quoted in Liverpool ;
$1.2O1-S compared with, $1.265-8 fl
l. 631a pound Rosa Fe from Argentin
r $1.1OH for No. Manitoba, afloa
is and $124% for Australian wheat
'e float.
IS Cash premiums were also well mail
'e tanned in spring wheat markets und
r steady demand for the modera
IN offerings. 1870 protein No. 1 da-
= northern was quoted in Minneapol
, at 1c to &c over the July price
: $1.06; 1870 7c to lie over; and IA
/ SC to rs cents over. No. 1 dark nc
F. therr 1870 protein was quoted at d
luth at 18c to 26c over the Minneapo
July price. Durum wheat advanc
with other classes of spring wheat b
the advance placed prices of Il
wheat above an export basis and {
= port buying was practically ellm-
= ated. No. amber or mixed, 1870 pl
tein was quoted at Minneapolis at
Duluth July price of SO 1-8c to
over, with No. 1 red selling at &c
&c under the July price.
Canadian spring wheat markets
vanced practically the same as dom
! tic mrkets under continued active
, mand. Stocks of old crop wheat
- contract grades are being rapi
. moved down the lakes to seaboard.
No. 1 Manitoba northern quoted
Winnipeg June z at SILICA. Canad
wheat stocks in trade channels tota
about 142, 100000 bushels for the f
of June. Of this amount around
100000 bushels were in the Uni
States lake or seaboard points. Ca
dian market stocks are nearly 300
600 bushels larger than year ago
cording to trade reports.
Pacific coast wheat markets "
rather inactive. Farmers were
inclined to sell at local quotations
"a view of the sharp advance In OF
:" markets. Exporters and millers
. in that market for wheat and
- the limited offerings. Old crop W
wheat was selling around SLOT
bushel at Portland with new
quoted S104-S1.05 for August
September delivery. Some was rel