Evening star., 1933-01-30
SCARCITY Of CORN
MAY BOOST PRICE
Shortage in Supply Is Likely
to Influence Grain
Market.
BY FRANK /. WELLER,
Associated Press Farm Editor

Corn may get chance to step out
on its own, completely divorced from
the action in wheat, If week end re-
ports on the Argentine situation hold up.
According to the minister of agricul-
ture, supplies remaining for export on
January 81 totaled only a little more
than 100000 bushels, whereas begin
ming January % and lasting through
April 80 last year, Argentina shipped
72,537,0 900 bushels of corn, or 1927 per
cent of the world trade for the 1922
crop year. compared with lesG than
per cent exported by the United States.
Inquiries Exceed Sales.
This country normally produces 10
times more corn than Argentina, but
recently has had small share in the
world trade. Obviously, there will be
demand on other areas should South
American prospects prove correct. In
qulrleS for con were reported at gulf
ports during the week, but few sales
were consummated American quota
tions are lower than Argentine. DAN
ubian and South African. Argentine
parcels were l l2 pence higher on threats
OF farm strike for government aid
and reports of locust damage
An American agent in Buenos Aires
wired, however, that insect damage was
diminishing and that corn losses prob
ably will not exceed 10 per cent.
Cash interests are on both sides of
the domestic grain, Chicago buyers Of
fering % cents a bushel for No. 3
mixed and 26A to 263s for May de-
livery. The January average farm price
In Nebraska was reported at IL cents
bushel. Country marketings have
fallen of sharply. but arrivals are about
sufficient for the daily trade needs.
Continued dullness prevailed in do
mestic wheat markets and prices held
barely steady. Marketings were the
smallest since last Spring. but equal to
demand. Receipts at the principal Gen.
tral and Southwestern markets totaled
only 908 cars. compared with 2,967 for
the same period last year. No. hard
Winter wheat II per cent protein was
sas City, 47& at Chicago and 49l2 at
St Louis
The trade which has. been ignoring
deterioration in the Winter wheat belt
Is watching reports of rainfall for SELL
ing pressure. There is no snow cover
ing of consequence which leaves Winter
growth resulting from mild weather
subject to frost damage such as &C.
CURED last March in Nebraska and
Kansas.
Selling Pressure Resisted.
While the market resists pressure and
scattered liquidation, 1t continues in
the usual indefinite trend, with no news
of nature to encourage aggressive
support. 1t was said there have been
few periods in the history of the Chi
cago Board of Trade when trading was
SO light as now. Crop scare impetus,
even if legitimate, is still distant, and
prices fluctuate over 1-cent range.
Selling by interests with Eastern con-
nections and tired long liquidation dis
closes an absence of broad outside de-
mand. Prices are easily influenced by
commission house orders on either side
Of the market.
Some say prospects Of improvement
are more prevalent than indications OF
a material decline and that long wheat
should be held over the dull period in
anticipation of much better prices when
interest revives.
World visible stocks at the end of
December were 100000 bushels short
of the year before and only 100000
greater than in 1880 and there is talk
of a food shortage in Russia and East
ern Europe.