WHEAT AND CORN FUTURES DROP STEADILY IN PRICE.

Cash Premiums Strengthen in all Markets Except Minneapolis—Flour is Imported.

The wheat market closed lower every day except two during the week ending Monday, Oct. 3, and the net decline in the different markets was 6¢ to 101⁄2¢ for the December future and 5¢ to 81⁄2¢ for the May future. Corn was influenced by wheat and followed the fluctuations of the latter. The net loss in corn was 2¢ for the December future and 1¢ for the May future. Corn touched the lowest prices for the crop on Oct. 3. The September futures “went out” on the last day of September and except at Minneapolis, owing to local conditions in that market, at the low point for most September futures since early in July.

Closing prices of the September futures were: Chicago September wheat $1.161⁄8, September corn 47¢; Minneapolis September wheat $1.411⁄4; Kansas City September wheat $1.10. At Minneapolis, September wheat closed at 7¢ over December on the last day of September, owing to a strong milling demand for choice wheat.

The declines recorded in the December futures in the different markets during the week were: Chicago December wheat 61⁄4¢ and December corn 2¢; Minneapolis December wheat 101⁄2¢, Kansas City 6¢, and Winnipeg 83⁄4¢. The May futures recorded the following declines: Chicago May wheat 5¢, May corn 1¢; Minneapolis May wheat 8¢; Kansas City 51⁄4¢; and Winnipeg 81⁄2¢.

Closing prices on Oct. 3 were: Chicago December wheat $1.183⁄8, December corn 495⁄8¢; Minneapolis December wheat $1.281⁄2; Kansas City $1.101⁄4; and Winnipeg $1.221⁄4. The May futures closed as follows: Chicago May wheat $1.233⁄8, May corn 551⁄4¢; Minneapolis May wheat $1.291⁄2; Kansas City $1.15; and Winnipeg $1.27.

FLOUR IMPORTS FROM CANADA.

There were several important developments in the general situation. One of these was a report from New York that 20,000 bbls. of Canadian flour had been bought to come to that market. This, of course, had a depressing influence on wheat prices. During August 3,700 bbls. of flour and 239,000 bus. of wheat were imported from Canada. This was for domestic consumption and not for re-export at American ports. Another bearish development of the week was a report that Hard Winter wheat on passage for Europe had been sold at 11¢ under the price at which it could be replaced. It was also reported that Hard Winter wheat was being resold in London at 5¢ under the replacement cost.

All of the news was not bearish, however. A message from the Pacific coast early in the week reported that 12,000,000 to 15,000,000 bus. of Pacific coast wheat were under contract for shipment to the Orient. Also, on Oct. 3 a message reported an additional 1,250,000 bus. of wheat sold to Japan. The impression appears to be growing in the grain trade that the United States has probably already sold for export all the wheat that can be spared and that there will be a scarcity later in the season unless there are liberal importations from Canada.

There were some changes in the cash wheat markets. At Chicago a good demand developed for No. 2 Red Winter and supplies of that kind of wheat were scarce. The premium over the December strengthened and on Oct. 3 was 5¢ to 6¢. At the same time No. 2 Hard Winter sold at 1⁄4¢ to 1¢ over December. Receipts of wheat showed a decreasing tendency at Kansas City and the premium strengthened. On Oct. 3, No. 2 Dark Hard Winter sold at 11¢ over Kansas City December, as compared with 7¢ over on Sept. 26. During the week Kansas City December wheat declined 6¢ to $1.101⁄4. No. 2 Dark Hard at 11¢ over December sold at $1.211⁄4 as compared with $1.231⁄4 on Sept. 26. That is, cash wheat on Oct. 3 was only 2¢ lower than on Sept. 26. while the December future was 6¢ lower.

GRAIN PRICES.
Daily Average of Cash Sales at Certain Markets, Week Ending Friday, Sept. 30.
[Cents per bushel.]

WHEAT.
Sat.Mon.Tue.Wed.Thr.Fri.
CHICAGO.
Dark Nor. Spg.No. 3145 ... 145 ... ... 144
No. 41341⁄2... 140 ... ... 140
Hard WinterNo. 21261⁄21211⁄2124 122 ... ...
Yellow Hard WinterNo. 2... 1221⁄4120 ... ... 1171⁄2
No. 31221⁄21203⁄41181⁄2... ... ...
Red WinterNo. 2... ... 1241⁄2... ... 126
MINNEAPOLIS.
Dark Nor. Spg.No. 1160 159 158 155 154 155
No. 2157 155 153 152 148 151
No. 3151 148 148 146 142 144
No. 4143 140 139 138 134 135
Nor. Spg.No. 1153 152 150 149 149 150
No. 2145 ... 148 147 144 146
No. 3... 142 137 137 132 137
No. 4136 135 134 128 130 125
KANSAS CITY.
Dark Hrd. Wir.No. 1... ... 133 1271⁄2120 124
No. 21333⁄41343⁄41311⁄41293⁄41267⁄8130
No. 31293⁄41323⁄8133 1265⁄81223⁄4126
No. 4127 ... 130 124 ... 124
Hard WinterNo. 1122 1183⁄41201⁄41173⁄81191⁄21221⁄2
No. 21221⁄21215⁄81225⁄8119 1193⁄81191⁄4
No. 31201⁄41233⁄41213⁄4120 1181⁄21177⁄8
No. 4... 118 1185⁄8... 1165⁄81153⁄4
Yellow Hard WinterNo. 2119 117 1151⁄21135⁄8... ...
Red WinterNo. 2... 132 130 130 128 ...
No. 3... 127 1253⁄8123 120 120
No. 4... 110 1115⁄81131⁄2112 ...
OMAHA.
Dark Hrd. Wir.No. 2... 122 120 118
Hard WinterNo. 11183⁄8116 116 116 1143⁄81131⁄2
No. 21183⁄41161⁄41141⁄81143⁄41133⁄81121⁄2
No. 3117 118 115 1113⁄4111
Yellow Hard WinterNo. 2115 115 133 1121⁄41123⁄81121⁄4
No. 3113 112 1103⁄4110 1105⁄8111
No. 4... 111 1091⁄2... ... 109
ST. LOUIS.
Red WinterNo. 21395⁄81371⁄4136 1333⁄41331⁄41351⁄8
No. 31307⁄81307⁄8[1]129 1263⁄41241⁄41293⁄4
No. 4127 125 [1]121 1161⁄41131⁄21161⁄2
CORN.
CHICAGO.
WhiteNo. 1533⁄4523⁄4513⁄4501⁄449 481⁄4
No. 2533⁄4523⁄4513⁄4501⁄4483⁄4481⁄4
No. 3531⁄4513⁄451 ... ... 48
YellowNo. 154 523⁄4513⁄4503⁄4493⁄4481⁄2
No. 2533⁄4523⁄4513⁄4503⁄4491⁄4481⁄2
No. 3531⁄4521⁄4511⁄2501⁄4483⁄4473⁄4
MixedNo. 1533⁄4523⁄4511⁄250 483⁄4481⁄4
No. 2531⁄2521⁄2511⁄250 483⁄4481⁄4
No. 3531⁄4521⁄451 ... 481⁄2473⁄4
No. 4... ... 503⁄4... 48 471⁄4
MINNEAPOLIS.
YellowNo. 147 461⁄4451⁄4441⁄2431⁄2423⁄4
No. 247 461⁄245 44 421⁄243
KANSAS CITY.
WhiteNo. 1... 461⁄2461⁄2... 45 431⁄2
No. 2463⁄446 461⁄4... ... 433⁄4
YellowNo. 147 453⁄4453⁄446 451⁄244
No. 2461⁄2451⁄8451⁄245 45 44
MixedNo. 2431⁄2433⁄8... ... ... 401⁄2
OMAHA.
WhiteNo. 1421⁄2421⁄8413⁄4401⁄2391⁄2381⁄2
No. 2421⁄2421⁄2... 40 40 381⁄2
YellowNo. 1425⁄842 411⁄2401⁄2391⁄2383⁄4
No. 2425⁄842 411⁄2401⁄2... 387⁄8
No. 3431⁄2... ... 401⁄4... 381⁄2
MixedNo. 1411⁄2411⁄441 40 397⁄8385⁄8
No. 2417⁄841 41 40 391⁄4385⁄8
ST. LOUIS.
WhiteNo. 1... 507⁄8501⁄2487⁄848 331⁄4
No. 2521⁄251 50 483⁄448 331⁄4
No. 4... 49 ... 44 44 ...
YellowNo. 1521⁄8505⁄8[1]501⁄2491⁄848 471⁄2
No. 252 505⁄850 49 48 471⁄4
No. 3511⁄250 49 ... 47 461⁄2
No. 450 ... 481⁄2... ... 451⁄2
OATS.
CHICAGO.
WhiteNo. 237 361⁄2361⁄437 35 35
No. 3341⁄234 331⁄2323⁄4323⁄433
No. 4333⁄433 323⁄432 313⁄4321⁄4
MINNEAPOLIS.
WhiteNo. 2341⁄2333⁄433 321⁄432 321⁄2
No. 3331⁄4321⁄232 311⁄431 31
No. 4321⁄2311⁄231 311⁄431 301⁄2
KANSAS CITY.
WhiteNo. 3355⁄8353⁄8343⁄8331⁄2335⁄8333⁄8
No. 4... 341⁄2333⁄8... 331⁄4...
OMAHA.
WhiteNo. 3313⁄4311⁄4307⁄8297⁄830 30
No. 431 301⁄230 291⁄2291⁄2291⁄2
ST. LOUIS.
WhiteNo. 2... 371⁄2[1]371⁄2353⁄4351⁄4...
No. 3361⁄8361⁄2[1]36 341⁄2341⁄2341⁄4
No. 435 343⁄4341⁄2333⁄4333⁄4331⁄2
RYE.
CHICAGO.
No. 21041⁄2102 1003⁄41001⁄499 ...
MINNEAPOLIS.
WesternNo. 299 971⁄296 941⁄293 92
Daily Closing Prices of Futures.
CHICAGO.
WheatSept.1231⁄21211⁄21191⁄21171⁄41181⁄4116
Dec.126 1261⁄21231⁄41207⁄8123 1203⁄4
CornSept.521⁄451 507⁄849 481⁄247
Dec.523⁄8513⁄4513⁄8501⁄850 495⁄8
OatsSept.35 343⁄834 333⁄8331⁄4321⁄2
Dec.373⁄4371⁄4371⁄2363⁄8365⁄8363⁄8
KANSAS CITY.
WheatSept.116 114 1121⁄2111 1103⁄4110
Dec.1173⁄41161⁄41151⁄81131⁄81143⁄4112
May1213⁄41201⁄41195⁄81173⁄41193⁄81171⁄8
CornSept.427⁄8421⁄2411⁄4401⁄2395⁄839
Dec.441⁄2435⁄8431⁄4421⁄8417⁄8411⁄4
May483⁄448 477⁄8467⁄8467⁄8463⁄8
OatsSept.34 34 34 34 34 333⁄4
Dec.351⁄235 343⁄434 34 335⁄8

[1] Common average.

Cash wheat at Minneapolis declined 2¢ to 5¢ for No. 1 Dark Northern, and 4¢ for No. 2, more than the December future declined. On Oct. 3, No. 1 Dark Northern sold at 10¢ to 18¢ over Minneapolis December and No. 2 at 6¢ to 12¢ over. The weakness in the cash market at Minneapolis was caused by a poor flour demand and increasing receipts of spring wheat. Reports from Minneapolis for some time past have reflected a very poor demand for flour.

The visible supply statement issued on Oct. 3 showed an increase of 1,636,000 bus. of wheat for the week. The total on that date was 52,795,000 bus. compared with 27,391,000 a year ago. The supply statement also showed a decrease of 726,000 bus. of corn for the week, making the total 11,765,000 compared with 7,587,000 a year ago. In the Chicago market on Oct. 3 No. 2 Mixed corn sold at 2¢ to 21⁄4¢ under December and No. 2 Yellow at 13⁄4¢ to 2¢ under.

GRAIN EXPORTS.
Wheat Inspected Out Under American Grades Only—Flour Not Included.
[Thousands of bushels: i. e., 000 omitted.]

Wheat.Corn.Oats.Barley.Rye.
Week ending Oct. 1:
Atlantic ports[1]2,061157...101214
Gulf ports[2]2,3301589......
Pacific ports[3]1,149......483...
Total5,5403159584214
Previous week4,379193122,031186
Corresponding week last year7,417...67104623
Total, July 1 to Oct. 1, 192185,2236,58134411,3572,528
Corresponding period last year83,750972,0575,54511,469

[1] Boston, New York, Philadelphia, Baltimore, Portland, Me., and Newport News.

[2] New Orleans, Galveston, Texas City, and Port Arthur, Tex.

[3] Seattle, Tacoma, Astoria, Portland, Oreg., and San Francisco.

AVERAGE PRICES PER BUSHEL OF CERTAIN GRADES OF WHEAT, CORN, AND OATS AT FOUR MARKETS.

[Enlarged chart.]

Ocean Freight Rates on Grain and Flour Reduced.

A new schedule of grain rates for the North Atlantic service has been announced by the Shipping Board, as the outcome of a joint conference of shipping companies recently held in New York. The old and new rates on wheat and corn per 100 lbs. from North Atlantic ports are as follows:

To—Old
rate.		New
rate.
Cents.Cents.
United Kingdom21 17
Antwerp221⁄2161⁄2
Hamburg221⁄218

Wheat flour, which takes a differential of 55¢ per 100 lbs., will be subject to a corresponding reduction, making the new rates on flour per 100 lbs. as follows: To the United Kingdom, 22¢; to Antwerp, 21¢; and to Hamburg, 23¢.

Bulk of White Clover Seed Already Sold.

Growers in southern Wisconsin had disposed of 80% of their crop of white clover seed by the end of September. The prevailing prices ranging from $30 to $40 per 100 lbs. have been fairly satisfactory to growers. The quality of the seed varies in different localities but probably averages about the same as or slightly inferior to that of last year because more of it is reported mixed with alsike and timothy.

The imports of white clover seed, principally from Germany, have tended to stabilize prices for the short crop of American seed. From July 1 to Sept. 30 there was permitted entry 538,600 lbs. and none for the same period last year.

Timothy Seed Exports to Europe.

Exports of timothy seed from New York during the two weeks ending Oct. 1, were 550,000 lbs. to Great Britain, 75,000 lbs. to Denmark, 40,000 lbs. to Germany, and 20,000 lbs. to Holland. Exports of Kentucky bluegrass from New York and Baltimore were 21,000 lbs. to Holland, 28,000 lbs. to Great Britain, and 16,500 lbs. to Germany.

The arrivals of imported seed at New York and Baltimore during the same period were: Alfalfa, 425,000 lbs. from Argentina; red clover, 113,000 lbs. from Germany, 92,000 lbs. from France, and 44,000 lbs. from Chile; white clover, 22,000 lbs. from Denmark and 11,000 lbs. from Holland; crimson clover, 105,000 lbs. from Germany; orchard grass, 179,000 lbs. from Denmark, 121,000 lbs. from Germany, and 45,000 lbs. from Holland; sunflower, 560,000 lbs. and canary, 128,000 lbs. from Argentina; rape, 187,000 lbs. from Holland and 44,000 lbs. from France; vetch, 57,000 lbs. from Sweden and 11,600 lbs. from Germany; rye grass, 22,000 lbs. from Great Britain; and grass (kind not specified) 123,000 lbs. from Argentina.

Egypt May Control Sowing of Cotton Seed.

The Government of Egypt is now considering a plan whereby it will assume control over all cotton seed used for planting purposes to preserve the standard varieties in a state of purity and to facilitate the propagation of new varieties under the most favorable conditions.

The history of the cotton industry in Egypt shows that a great number of cotton varieties have been planted which after a period of commercial popularity have almost disappeared from cultivation. Under the plan now being proposed no private person or firm will be permitted to engage in the selection or production of new varieties or strains of cotton unless licensed to do so, and even then not more than 200 acres may be devoted to the experiment. The area to be so planted must furthermore first undergo a field test for at least two years under the direction of the ministry of agriculture.

If the experiment proves satisfactory the seed obtained from the new variety or strain will be propagated and distributed by the Government under the name registered by the original producer. The Government will allow the producer a royalty on all seed used or sold for planting purposes, but will reserve the right to limit the rate of, or to discontinue entirely, its propagation.

Further information on this proposed control plan may be obtained upon request to the Bureau of Markets and Crop Estimates, Washington, D. C.

The economic importance of seeds is perhaps greater than that of any other farm commodity. Seeds are potential plants. Practically all staple foods are derived, either directly or indirectly, from plants. A shortage of seed in any country or section of a country may mean a shortage of food. The commercial supply of seeds in the United States safeguards every section of this country against a deficiency in the necessary requirements for planting annually and indirectly helps to maintain the stocks of food at uniform levels.

The best commercial grades of red clover, alfalfa, and timothy seed test 99.5% or better in purity.