The people's voice. [volume] (Helena, Mont.) 1939-1969, 1942-02-06
PRICE Law
AFFECTS GRAIN
MARKETS
Grain Markets Turn Easy
Generally Close Slightly
Lower But Flax Futures
Firm; Mid-Week Drop in
Corn Unsettling Influence.

Grain markets turned easy and gen.
orally closed slightly lower for the
week ended January 80, with the ex-
ception of flax, according to the De-
partment of Agriculture, with both
futures and cash premiums irregular
ly easy to lower. At the close, the
undertone improved and partial re-
coveries were made within narrow
range. Trade uncertainty regarding
the application of the recently enacted
price control legislation and liberal
movement to market both because of
the higher prices and to some extent
to anticipate an expected increase in
freight rates were weakening influ-
ences. Proposed use of government
owned wheat for feed and for the
not sufficient to offset the weakness
in wheat and the futures closed slight
ly lower together with lie drop in
cash premiums for the lower protein
lots while the better to higher pro-
tein regained a 1c drop to close about
the same as week ago. The storage
situation was again weakening fac
tor in bids for the high moisture lots
of all grains. Purchases from the
Argentine of rye to come to this coun-
try was weakening in both cash and
futures. Mid-week drop in corn on
an announcement that prices would
be held at $50 of parity to assist in
the production of meats and dairy
products was unsettling to other
grains but feed grains recovered
slightly from the low points.
WHEAT: In the United States
stocks of wheat on farms, in country
and in commercial stocks
totaled 852,006,000 bushels at the first
of January compared with 613,1S7,O 900
bushels a year earlier. Stocks of
wheat in interior mills and elevators
January 1 were the largest in the
eight years of record and totaled 207,-
351 900 bushels Official data for
merchant mills stocks are not yet
available but reports from mills indi-
cate considerably larger holdings than
a year ago. Despite the larger hold
ings, January 1, however, mills lacked
about one weeks grind of having suf-
ficient wheat to fill outstanding flour
contracts, whereas in recent years on
that data mills have had one or two
weeks excess wheat over flour COM
nitments.
The department announced on jan
lary 81 that the G. G. G. was prepar-
ng to sell wheat in place of corn for
he production of alcohol. Under this
plan the corporation will sell wheat
1t Gle per bushel, delivered to proc
essors of alcohol but lower sales
prices will be made to concerns which
have unusually high conversion costs.
No sales of wheat, however, will be
made at less than soc per bushel.
Parity prices as of January Is, cents
per bushel, were: wheat 1891; corn
,3.7; oats 5S.3; barley 90.4; rye 1851;
'laxseed 2470; and rice 1887. Aver
age farm prices, January Is: wheat
1861; corn 72.7; oats 50.2; barley
sos; rye 65.2; rice 1875; flaxseed
1850; soybeans 1850; grain sorghums
or 100 lbs. $50. Data on wheat and
corn sales and holdings not yet avail
lble.
According to reports to the Weather
Bureau winter wheat fields were gen.
orally unprotected at the middle Of
he week. Practically no snow re-
NAMED in the principal producing
areas. While relatively high day time
and moderate night
freezing caused more or less heaving
n parts of the belt, damage appar-
entity is not extensive and the crop
continues mostly in favorable condi-
ion. Plants are starting new growth
Is far north as Missouri and Mary
and.
Very severe weather continued in
Eastern and Northern Europe but
most areas were principally adequate
y projected by snow. Western Eur
,pe was again cold after a partial
haw and some damage is feared in
provinces of India, moisture continued
for the new crop and the
General wheat outlook continued be-
ow normal
Supplies of wheat are running low
n many European countries and two |
'readless days weekly are reported in |
Hungary, also reducing food |
ations. The surplus Of wheat re-
naming in Argentina on January "a
vas officially estimated at 100000 |
ushels, the corn surplus at 100000
90, and flaxseed at about S8,000,000 |
bushels. In Canada, stocks of wheat |
January L for export or
arryover are placed at about $4,000
90 bushels compared with GEL 100000
ushels year earlier.
CASH WHEAT: Receipts of cash
Wheat continued liberal with Mime
polls receiving 1903 cars of all
lasses for the week and Duluth SIG.
'remiums on 1870 protein and lower
7heat declined about lie for the wheat
With No. 1 Dark Northern quoted
vithin an entire range of &c to &c I'M
er the Minneapolis May price; No.
Dark Northern 10c to &c under; and
10. Dark Northern 15c to &c under.
'rotein premiums above 1870 recov-
red from a loss of about lie and
losed the same as week ago with
go protein bringing &c over the base
r 1870 protein wheat; 1870 protein
C over; 1870 protein &c over; and
So protein 10c over the base. In
pections indicated 164 cars of winter