The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-05-03
GRAIN

Chicago, May 3.-GAP)-Grain trad
ers today found themselves face TO
face with accommodating evidence that
government sponsored agencies have
practically cornered the wheat mar
ket.
Different from all precedent, how
ever, the apparent corner is involving
no squeeze in prices, and day after
day this a settlement of outstanding
future delivery contracts for wheat
has been effected here at the amazing
rate Of more than 10000, 900 bushels
a day. as shown by official figures.
Leading market authorities say tn.
results indicate at least temporary
hold the market at Il virtual even
poise, under extraordinarily difficult
conditions.
Compared with a week ago, the
Chicago wheat. market this morning
was at prices exactly unchanged to
1c per bushel net lower. With corr
I IA to 2 l-Sc down, bats "a to
1 sac off. and provisions sc 20 75c
up.
According to various Chicago crop
experts, the outlook for the 1880
world production Of wheat is at
present such that no immediate up
turn of consequence in prices need
be anticipated until there is reason
to believe that the crop prospect is
less favorable. A change of this
character. these authorities assert
appears unlikely to develop for some
weeks yet, if at all. Among the
reasons given are recent heavy rains
over domestic winter wheat terri.
Meanwhile. complaints regarding q
lack Of sub-soil moisture in the
spring wheat region both north and
south Of the Canadian boundary con
tinue to, be received from the north
west. Friends of higher prices asser,
that fnlV NVeGkS Of nerSigttnt firS
weather there would do much to alter
trade sentiment SO as to be IL good
deal more in favor of the buying side
of the market. In this connection, II
tiles that shortage of reserve moist
ure in the North American spring
wheat belt following a drought year
may bring about less than an aver.
& crop. with u consequent relatively
small exportable surplus in Canada
and also in the American northwest
Corn values reflect knowledge thai
planting OF corr is making eXcelltn
progress, and appears Xix .ly to b'
! completed we'll ahead of normal and
The. oats market is sensitive to re.
ports that the acreage Of oats north
west VIII show a decided increase oW,
ling to curtailmcnt- of wheat seeding.
Upturns OF tho provision market ar,
largely traceable to lessening o
HsSNnS .NhCS AoNS Oh
here.
Minneapolis. May s.-(AP)-U. S
D.. A.)-Further beneficial rainfall
both in the domestic winter ant
spring wheat areas, together witt
only Il moderate export demand TO
United States wheat caused a con
tinued dull and draggy tone in tn
market during the week. ending Fri
day, May 2.
ash receipts continued small. total
Ing only 3S3 cars against. 86l "A Yea.
age and ash prices worked highe,
despite a decline In futures. At TIL
close of the week. IL per cent protein
No. l dark northern was 3 to &c owe.
cent z to 8 over and Is per cent 8 t,
10 over. May declined 3 to &c for TIL
week. closing Friday at 1.0l 1-2.
Durum worked some what lower TO
the week. No. l amber sold a
Duluth May price to Z cents over
Duluth May declined 1 cen for tn
week. closing Friday at 80 1-2.
Declined l 1-2c for the week. clos
ing Friday at 81 1-2. No. : spo
rye was So IL to 70 1-2.
Feed grains were dull and draggy
oats receipts were somewhat larger
totaling 118 cars. May declined /
for: the week. closing at SO 3.S. No.
white spot sold at 50 to 81.
Barley trade also was light witt
persistent Liquidation in May whicl
declined l $50 during the week, clos
ing at 4S 1-2. Choice to fancy malt
ing sold ut 81 to So; medium to good
81 to So and feed grades ~ to So.
FLAX was further disturbed. Ma,
flax declined 6 IL cents for the week
closing Friday at 2.76 IL.