Evening star., 1932-10-03
HEAVY WHEAT SALE
PUTS PRICES DOWN
Market Has Been Adversely
Affected by Canadian
Offerings.

b. the Associated Press.
Prices of most domestic wheat classes
declined slightly during last week. re-
flecting what Government economists
termed the weakness in the foreign situ-
alton.
The Bureau Of Agricultural Economics
attributed the chief depressing factors
to continued heavy offerings Of Cana
dian wheat, light European demand re-
sulting from record crops In importing
countries, fairly large Russian ship
ments. and favorable prospects for the
wheat crop in the Southern Hemisphere.
Under the cudgeling Of fairly heavy
offerings and the approaching move
ment of the new crop, corn dropped to
lower levels.
Germany, France, Italy and Spain all
have unusually large wheat crops, which
has had the effect Of greatly reducing
European demand. World shipments Of
August and September were only little
more than half as large as those for the
corresponding period during the past
two seasons.
Canadian Offerings Large.
Canada, now providing the bulk Of
the worlds exports, has been princi-
pally responsible through its heavy Of
ferings for the recent declines. Last
Saturday, however, evidence OF support
in the Winnipeg market gave Chicago
values a slight undertone of strength.
Prices on foreign wheats at Liverpool
were slightly lower, though European
markets for native wheat held about
unchanged French millers were re-
ported buying cautiously, with compul-
sorry -four extraction lowered to 66 per
cent. German interior mills were well
supplied with native wheat but sea-
board mills were moderate buyers OF
Canadian grain. The Italian wheat
crop is now officially estimated at 276,-
OOO,O bushels, a new high record.
Italian mills must use 95 per cent native
wheat in milling mixtures.
British millers, were reported using
heavy percentages of Manitoba wneats.
Argentine exports for the week were ere
769,0O0 bushels, Australian, l,4O2, ,0OO
and Russian shipments from BLACK sea
ports, 1,912,000 bushels.
Domestic markets were mostly weak
and lower, rejecting the general weak
ness, federal statisticians said. EXPORT
demand was almost negligible but mill
and elevator inquiry absorbed most
current offerings Winter wheat mar
keting were moderate with receipts at
principal Central and Southwestern
markets 2,070 cars, compared with l.
495 cars a week ago and 3,269 a year
ago.
Mills provided the main outlet for
better grades of Protein wheat, while
shippers and elevator operators TOOK
other offerings.
Soft Winter wheat marketing still
were light but demand was sluggish ana
price changes not important. kansas
City mills were taking low Protein
starchy types of hard winter wheat to
avoid paying premiums asked on sou
Winter grades.
Marketings of Spring wheat very
moderate in volume with the weeks
arrivals at Minneapolis totaling 1852
cars and at Duluth 1880. Current
offerings we're readily taken but mill.
ing demand lacked force and tone OF
the cash market was easier.
Durum wheat was relatively nrmer
than other Spring classes with mills
active buyers OF milling types. Ele-
vators readily took remaining offerings.
mtermountain markets were about
unchanged. Pacific coast markets were
quiet but Portland futures did not follow
Chicago price nuctuatlonS. Countiy
marketing continued relatively light.
Corn Prices.
The first car Of new corn was re-
ceived at st. Louis and graded sample
with a moisture content OF 27Ha per
cent. This corn sold at 19 cents
bushel Most of the new corn crop
has matured sufficiently to be safe from
frost. About 80 per cent of the crop
is estimated to be out of danger in
Iowa, while the bulk is safe in Illinois.
Much corn was reported cut during
the week and considerable husking has
been done in the more Northern States.
New corn was being fed to live stock
in Oklahoma, Kansas and Nebraska.
In some sections the grain was reported
CRY enough to crib.
Receipts of corn at the principal
markets totaled slightly more than
2,500,000 bushels. Bringing the sea-
sons total to over 100000 bushels
Receipts at Chicago were relatively
large, registering 1878 cars, compared
with 988 cars for the corresponding
week last wear