The people's voice., 1942-08-21
wheat PRICES
VARY ONLY
SLIGHTLY

Sk.aUaH
Once again wheat prices worked
within a narrow and about an un-
changed range but rye, oats, and flax
drifted somewhat lower during the
week ended August IA. New crop
wheat pressure at Minneapolis to date
has been negligible as cool weather
and frequent rains have delayed the
maturing Of late sown fields and in
terrupted threshing of those fields al
ready cut. Moreover, producers were
holding back all grain possible be-
cause of the wide disparity between
loan values and present market
prices. New crop barley movement
increased materially during the week
but receipts included a lot of high
moisture, damaged grain Good malt
ing barley sold readily at strong
prices but other qualities were slow.
Because of limited new crop move
ment thus far, storage space at spring
wheat terminals and sub-terminals
though scarce is stretching out a little
better than anticipated. Wheat
stocks, for instance, in public eleva-
tors at Minneapolis during the past
week showed a decrease of $4,000
bushels compared with the liberal in
creases which usually take place at
this time of the year. The northwest
grain storage committee issued re-
port during the week which indicated
62,736,054 bushels of empty storage
space as of August 5 in the four states
of Minnesota, South Dakota, North
Dakota, and Montana. Empty space
at country points was given as 29,S06,
735, Duluth and Superior 10,154,000,
and Minneapolis : St. Paul 22,775,319
bushels.
The quantity Of 1912 wheat under
government loan increased about To-
100000 bushels during the first week
in August and it was reported at
about 47,000,000 bushels on August s.
In addition to this quantity, the Com
modify Credit Corp. owned or con-
trolled nearly 3O0,OO0,000 bushels of
1941 and early crops. The quantity
of corn held by the corporation was
reported at 44,72S,O0O bushels. Loans
on barley increased to 242, 900 bushels,
of which $4,000 bushels were in Cali
fornia.
WHEAT: Showers were rather fire.
quent in the spring wheat area during
the week with heavy rains in south
eastern sections which interferred
with harvesting and caused some
lodging of grain. Harvest has begun
in the Red River Valley of Minnesota
and also in southern North Dakota.
There was a slight increase in the
RUST infection in durum wheat in
North Dakota and some very late
fields may be injured. In the aggre-
gate however the damage to spring
wheat from rust will be light.
Prospects for wheat in western
Canada continue bright although the
harvest is late. Warmer weather dur
ing the week hastened filling and rip
ening of the grain. Wheat harvest
ing will not be general in Manitoba
until about the middle of August
while in Saskatchewan and Albert the
grain is still very green and will not
August or the first week in Septem-
ber. Rust infection of flax in Canada
is not expected to damage the bulk
of the crop seriously although there
will be reduction of yields in some
fields. Grasshopper. damage does not
appear to be serious anywhere.
Prospects for wheat in Europe are
10
ports, but subnormal crops are still
expected in central and southeastern
Europe. Conditions in western coun-
tries have been good during recent
weeks and it is indicated that wheat
harvest will be fairly satisfactory.
Prospects remained excellent in the
United Kingdom but poor wheat
crop is reported in Germany and Aus
tria. The outturn in Rumania is
much below last years yields and
much below domestic requirements.
The three breadless days week now
in effect are expected to be continued.
CASH WHEAT: Minneapolis took
in a total of 1,410 cars of all classes
of wheat during the week while Du-
luth unloaded APO cars. The bulk of
the spring wheat offerings continued
to be old crop grain as only about 60
cars of new crop spring wheat have
arrived here to date, these coming
mainly from South Dakota stations.
These arrivals together with mailed
samples which have come in of some
of the North Dakota wheat indicate
uniform high test weight for the 1912
crop but protein content probably
lower than last year. Because of
threatened high moisture, low protein
crop, the demand was centered prin-
cipally on dry, high protein wheat,
and protein premiums were 1c to &c
higher for the week. Offerings of
ordinary protein No. dark northern
spring wheat went within an un-