The people's voice. [volume] (Helena, Mont.) 1939-1969, 1942-11-20
GRAIN MARKETS
SHOW LITTLE
CHANGE

VnANUE
News affecting the grain markets
showed no material change during the
week ended November 10 and witt
mo new measures announced concern
ing the wheat-flour price program
grain prices showed little change
With the flow of cash grain to the
Minneapolis market still regulated by
permits, there was no track accumula
ton of any kind and the cash trading
position of all grains ruled firm. Be
cause of the good daily cleanup Of
cash offerings now, permits covering
new shipments both to Minneapolis
and Duluth were~readily obtained.
Loans on 1912 wheat had increased
to 27S,920,000 bushels as of November
II. Loans on barley totaled 7,115,O0C
bushels, of which 1,2S2,000 bushels
were in California The quantity OF
old wheat held November was 267,
749. 900 bushels.
| WHEAT: Winter wheat continued
to make favorable progress with mod
crate temperatures and sufficient
moisture in the principal producing
areas. Recent rains were decidedly
helpful in the Ohio Valley, especially
| in southern sections where late seeded
grain is now coming up to good
stands. West of the Mississippi river
the outlook continues promising with
early wheat furnishing abundant pas
turage in Oklahoma where fields are
not too wet for utilization. In Kansas
soil moisture is ample to carry the
very promising crop through until
spring. In the Pacific northwest the
moisture situation is much better and
considerable late seeding has been &C
complished. Some planting, however,
has been deferred until spring because
of the lateness of the season.
Merchant mill stocks of wheat at
the first of October totaled 1927, 900
bushels, not including wheat already
reported in other positions This
made total supply on farms, in coun-
try mills and elevators, in merchant
mills and in commercial stocks, Octo-
Der 1, of 1921, $4,000 bushels COM
pared with 1,166, S34,000 bushels year
ago. In addition to these stocks the
Commodity Credit Corporation held
52,096,000 bushels in wood and steel
bins which would make an overall
total, October 1, of 1,373,761, 900 bush
els. These data indicate disappear
ance since July 1 Of 242 $4,000 bush
els compared with 164, 1927, 900 bushels,
July through September, last season
CASH WHEAT: The cash wheat
market at Minneapolis was quite firm
with premiums inclined to edge lit
tie higher Movement held up well
with 1894 cars received at Minneapo-
lis while Duluth unloaded Lis cars.
active both for local unloading and
for shipment via Duluth since boat
space again is available for lake ship
ments. Toward the close of the week
however, eastern mills showed some
hesitancy in taking on wheat in the
high protein brackets at existing
premiums and the extra premiums
ordinarily paid for high protein Mon
tana lots narrowed. Very little wheat
traded during the week at the govern
ment base of S1.16 per bushel with
only occasional line grades showing
low protein and maximum damage of
the Nos. 2 and northern grades go
ing to government agencies. Virtual
ly no wheat grading No dark north
ern sold down to the $1.16 price dur
ing the week. Base prices on ord1-
nary protein No. 1 dark northern
wheat was called $1.16 to the Mime
apolis December figure. Fourteen per
cent protein brought SC over the De-
cember price; 1879 protein 10c over
the December; and 1870 protein l6c
over the December Minneapolis De-
cember wheat declined 1c for the
week, closing Friday, November IL, at
$1171s. Inspections indicated Fl cars
of winter wheat and 276 cars of du-
rum in the weeks receipts. The av-
erage protein content of the hard red
spring wheat tested during the week
was 13.079o and the durum 1860.
Durum wheat showed Independent
strength. Duluth December durum
option closed at $1.16 q, with premi-
ums on cash durum strong to 1cshigh-
er. Very little hard amber durum
traded during the week at the gov
eminent base of $1.16 per bushel as
mill demand was good enough to abb
sorb all of the offerings, taking in the
intermediate and low grade lots. The
government still paid $1.16 per bush
ell for No. hard amber durum or bet
ter; $114 for No. amber or BETTER
$1.10 for No. 8 undermined durum or
BETTER and $1.07 for No. 8 durum or
better. Hard amber durum showing
suitable milling quality regardless of
numerical grade sold within range
of the Duluth December price of
$1.16% to &c over.
Arrivals of wheat at Kansas City
totaled 664 cars for the week and a
liberal proportion again went direct to
mills on previous sales. Demand was
good throughout the week with mill
ers competing actively for all milling |
types and securing about three-fourths
of the offerings. At the close of the |
week, 1870 protein No. 2 hard winter
wheat was quoted at Kansas City at
$1.22A $123%, and 1870 protein |
SLIPS to $1.27A. The average pro-
TEN content of the wheat tested dur
ing the week at Kansas City was
12.78%.