Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-17
WHEAT PRICE GAIN
FOR WEEK NOTED
Market Continues to Show
Effects of Seasonal Change
in Demand.
BY FRANK I. WELLER,

Associated Press Farm Editor.
Both wheat and feed grains strength
ened somewhat in the last week. but
this Is the season when markets are
anected by new crop prospects, and
there are as many possibilities that
values may change as there are opin-
ions on the actual condition Of the
crop.
The Government reports the condi-
ton as 88.8 per cent CT normal, as
against TIA per cent on April !, 1890,
and forecasts Winter wheat yield of
approximately $4,000 600 bushels--the
fourth largest In the history of the
country.
Federal Figures.
Private sources which are interested
In finding news to their own advan-
tage, whether bearish or bullish, pre-
sent pattern of curious incongruities.
They say in one breath that the Fed
eral flgures are 100000 bushels too
high and that the condition OF the crop
Is better than it was when the Govern
ment gathered Its data for the April
report.
They speak at one and the same
time of ample moisture and nigh tenn
peratures resulting in growth being I'M
usually well advanced for this season
OF the year and of increasing COM
plants of lack CT subsoiT moisture.
Minneapolis reports say that dry
conditionS are becoming noticeable and
that considerable dust is blowing. st.
Louis reports say some fields of wheat
are not nearly so promising as 10 days
ago and suggest insect damage. From
Omaha 1t is reported that farmers in
Iowa and Nebraska are saying the
ground never was so dry for corn
planting as this year. Galesburg, Ill,
advices are to the effect that oats
termination Is too early. Pennsylvania,
Maryland. Virginia and West Virginia
show rather sharp declines in the rye
condition and North Dakota, the chief
rye State, shows a condition points
lower than year ago. Many States.
however consider the condition i'm
proved over 1890.
The trade probably is most mystifled
by reports of cutworm damage in
Canada. 1t followed by one week reports
OF likely graSshopper damage in Amer
lean wheat regions. No Spring growth
OF any kind has begun in Canada and
the apprehension is said to be based
on Dominion reports of heavy cutworm
infeStation last Fall in the region which
normally supplies 100000 acres of
wheat.
Winnipeg says the weather through
Western Canada has been windy and
cold. That, along with dryness and the
cutworm scare, is gaining considerable
attention.
However. prospects for the wheat crop
are so good and supplies carried over
from the last few years so large that
the average trader is disposed to go slow
on the buying side and at the same
time does not care to press sales except
on bulges owing to the comparatively
low price levels and the limited export
business. There seems to be little on
which to base an opinion while In
terests hold so tight
Liquidation Is Seen.
There seems to be little doubt that the
country is liquidating old wheat. Re-
ceiptS at principal Southwestern markets
were 500 cafW more last week than the
week before and $50 more than for the
same week a year ago. Receipts of corn
at primary markets are averaging only
about SO per cent as large as last year,
although present market stocks are only
about 100000 bushels smaller.
Flour mills are looking for big de-
mand for new crop -four owing to the
unusual discount prevailing for the
July, as compared with the old-crop
future.
The Government is looking for an
abandonment of only 40 per cent in
wheat acreage, whereas the 10-year
average is 12.1 per cent, but due to
the low prices of wheat some farmers
are represented as planning to Craze
their fields rather than harvest them,
and probably more than the usual
acreage will be cut green for hay UNI
less crop conditions continue to show
unusually promising threshing returns.
There Is considerable buying of for
eign wheat by European countries since
Russian shipments have fallen off, and
good percentage of Southern Hemis-
phere shipments are going to non-Eu-
ropean ports. The tone of foreign mar
kets Is much f1rmer, with indications
that perhaps France may permit larger
lmportations of foreign wheat. Low
stocks in Germany has resulted in a
cut from IS to so per cent the amount
OF native wheat millers are required to
use In milling mixtures.
There Is indication of a tendency 70
reduce acreage in many parts of the
world, outside Russia and China. A
reduction of Is per cent In the Aus
traiian acreage in some localities is
intimated.