The Market Reporter, Vol. 4, No. 15

by Various

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. 3	145		...		145		...		...		144
	No. 4	134	1⁄2	...		140		...		...		140
Hard Winter	No. 2	126	1⁄2	121	1⁄2	124		122		...		...
Yellow Hard Winter	No. 2	...		122	1⁄4	120		...		...		117	1⁄2
	No. 3	122	1⁄2	120	3⁄4	118	1⁄2	...		...		...
Red Winter	No. 2	...		...		124	1⁄2	...		...		126
MINNEAPOLIS.
Dark Nor. Spg.	No. 1	160		159		158		155		154		155
	No. 2	157		155		153		152		148		151
	No. 3	151		148		148		146		142		144
	No. 4	143		140		139		138		134		135
Nor. Spg.	No. 1	153		152		150		149		149		150
	No. 2	145		...		148		147		144		146
	No. 3	...		142		137		137		132		137
	No. 4	136		135		134		128		130		125
KANSAS CITY.
Dark Hrd. Wir.	No. 1	...		...		133		127	1⁄2	120		124
	No. 2	133	3⁄4	134	3⁄4	131	1⁄4	129	3⁄4	126	7⁄8	130
	No. 3	129	3⁄4	132	3⁄8	133		126	5⁄8	122	3⁄4	126
	No. 4	127		...		130		124		...		124
Hard Winter	No. 1	122		118	3⁄4	120	1⁄4	117	3⁄8	119	1⁄2	122	1⁄2
	No. 2	122	1⁄2	121	5⁄8	122	5⁄8	119		119	3⁄8	119	1⁄4
	No. 3	120	1⁄4	123	3⁄4	121	3⁄4	120		118	1⁄2	117	7⁄8
	No. 4	...		118		118	5⁄8	...		116	5⁄8	115	3⁄4
Yellow Hard Winter	No. 2	119		117		115	1⁄2	113	5⁄8	...		...
Red Winter	No. 2	...		132		130		130		128		...
	No. 3	...		127		125	3⁄8	123		120		120
	No. 4	...		110		111	5⁄8	113	1⁄2	112		...
OMAHA.
Dark Hrd. Wir.	No. 2	...		122		120				118
Hard Winter	No. 1	118	3⁄8	116		116		116		114	3⁄8	113	1⁄2
	No. 2	118	3⁄4	116	1⁄4	114	1⁄8	114	3⁄4	113	3⁄8	112	1⁄2
	No. 3	117		118				115		111	3⁄4	111
Yellow Hard Winter	No. 2	115		115		133		112	1⁄4	112	3⁄8	112	1⁄4
	No. 3	113		112		110	3⁄4	110		110	5⁄8	111
	No. 4	...		111		109	1⁄2	...		...		109
ST. LOUIS.
Red Winter	No. 2	139	5⁄8	137	1⁄4	136		133	3⁄4	133	1⁄4	135	1⁄8
	No. 3	130	7⁄8	130	7⁄8	[1]129		126	3⁄4	124	1⁄4	129	3⁄4
	No. 4	127		125		[1]121		116	1⁄4	113	1⁄2	116	1⁄2
CORN.
CHICAGO.
White	No. 1	53	3⁄4	52	3⁄4	51	3⁄4	50	1⁄4	49		48	1⁄4
	No. 2	53	3⁄4	52	3⁄4	51	3⁄4	50	1⁄4	48	3⁄4	48	1⁄4
	No. 3	53	1⁄4	51	3⁄4	51		...		...		48
Yellow	No. 1	54		52	3⁄4	51	3⁄4	50	3⁄4	49	3⁄4	48	1⁄2
	No. 2	53	3⁄4	52	3⁄4	51	3⁄4	50	3⁄4	49	1⁄4	48	1⁄2
	No. 3	53	1⁄4	52	1⁄4	51	1⁄2	50	1⁄4	48	3⁄4	47	3⁄4
Mixed	No. 1	53	3⁄4	52	3⁄4	51	1⁄2	50		48	3⁄4	48	1⁄4
	No. 2	53	1⁄2	52	1⁄2	51	1⁄2	50		48	3⁄4	48	1⁄4
	No. 3	53	1⁄4	52	1⁄4	51		...		48	1⁄2	47	3⁄4
	No. 4	...		...		50	3⁄4	...		48		47	1⁄4
MINNEAPOLIS.
Yellow	No. 1	47		46	1⁄4	45	1⁄4	44	1⁄2	43	1⁄2	42	3⁄4
	No. 2	47		46	1⁄2	45		44		42	1⁄2	43
KANSAS CITY.
White	No. 1	...		46	1⁄2	46	1⁄2	...		45		43	1⁄2
	No. 2	46	3⁄4	46		46	1⁄4	...		...		43	3⁄4
Yellow	No. 1	47		45	3⁄4	45	3⁄4	46		45	1⁄2	44
	No. 2	46	1⁄2	45	1⁄8	45	1⁄2	45		45		44
Mixed	No. 2	43	1⁄2	43	3⁄8	...		...		...		40	1⁄2
OMAHA.
White	No. 1	42	1⁄2	42	1⁄8	41	3⁄4	40	1⁄2	39	1⁄2	38	1⁄2
	No. 2	42	1⁄2	42	1⁄2	...		40		40		38	1⁄2
Yellow	No. 1	42	5⁄8	42		41	1⁄2	40	1⁄2	39	1⁄2	38	3⁄4
	No. 2	42	5⁄8	42		41	1⁄2	40	1⁄2	...		38	7⁄8
	No. 3	43	1⁄2	...		...		40	1⁄4	...		38	1⁄2
Mixed	No. 1	41	1⁄2	41	1⁄4	41		40		39	7⁄8	38	5⁄8
	No. 2	41	7⁄8	41		41		40		39	1⁄4	38	5⁄8
ST. LOUIS.
White	No. 1	...		50	7⁄8	50	1⁄2	48	7⁄8	48		33	1⁄4
	No. 2	52	1⁄2	51		50		48	3⁄4	48		33	1⁄4
	No. 4	...		49		...		44		44		...
Yellow	No. 1	52	1⁄8	50	5⁄8	[1]50	1⁄2	49	1⁄8	48		47	1⁄2
	No. 2	52		50	5⁄8	50		49		48		47	1⁄4
	No. 3	51	1⁄2	50		49		...		47		46	1⁄2
	No. 4	50		...		48	1⁄2	...		...		45	1⁄2
OATS.
CHICAGO.
White	No. 2	37		36	1⁄2	36	1⁄4	37		35		35
	No. 3	34	1⁄2	34		33	1⁄2	32	3⁄4	32	3⁄4	33
	No. 4	33	3⁄4	33		32	3⁄4	32		31	3⁄4	32	1⁄4
MINNEAPOLIS.
White	No. 2	34	1⁄2	33	3⁄4	33		32	1⁄4	32		32	1⁄2
	No. 3	33	1⁄4	32	1⁄2	32		31	1⁄4	31		31
	No. 4	32	1⁄2	31	1⁄2	31		31	1⁄4	31		30	1⁄2
KANSAS CITY.
White	No. 3	35	5⁄8	35	3⁄8	34	3⁄8	33	1⁄2	33	5⁄8	33	3⁄8
	No. 4	...		34	1⁄2	33	3⁄8	...		33	1⁄4	...
OMAHA.
White	No. 3	31	3⁄4	31	1⁄4	30	7⁄8	29	7⁄8	30		30
	No. 4	31		30	1⁄2	30		29	1⁄2	29	1⁄2	29	1⁄2
ST. LOUIS.
White	No. 2	...		37	1⁄2	[1]37	1⁄2	35	3⁄4	35	1⁄4	...
	No. 3	36	1⁄8	36	1⁄2	[1]36		34	1⁄2	34	1⁄2	34	1⁄4
	No. 4	35		34	3⁄4	34	1⁄2	33	3⁄4	33	3⁄4	33	1⁄2
RYE.
CHICAGO.
No. 2		104	1⁄2	102		100	3⁄4	100	1⁄4	99		...
MINNEAPOLIS.
Western	No. 2	99		97	1⁄2	96		94	1⁄2	93		92
Daily Closing Prices of Futures.
CHICAGO.
Wheat	Sept.	123	1⁄2	121	1⁄2	119	1⁄2	117	1⁄4	118	1⁄4	116
	Dec.	126		126	1⁄2	123	1⁄4	120	7⁄8	123		120	3⁄4
Corn	Sept.	52	1⁄4	51		50	7⁄8	49		48	1⁄2	47
	Dec.	52	3⁄8	51	3⁄4	51	3⁄8	50	1⁄8	50		49	5⁄8
Oats	Sept.	35		34	3⁄8	34		33	3⁄8	33	1⁄4	32	1⁄2
	Dec.	37	3⁄4	37	1⁄4	37	1⁄2	36	3⁄8	36	5⁄8	36	3⁄8
KANSAS CITY.
Wheat	Sept.	116		114		112	1⁄2	111		110	3⁄4	110
	Dec.	117	3⁄4	116	1⁄4	115	1⁄8	113	1⁄8	114	3⁄4	112
	May	121	3⁄4	120	1⁄4	119	5⁄8	117	3⁄4	119	3⁄8	117	1⁄8
Corn	Sept.	42	7⁄8	42	1⁄2	41	1⁄4	40	1⁄2	39	5⁄8	39
	Dec.	44	1⁄2	43	5⁄8	43	1⁄4	42	1⁄8	41	7⁄8	41	1⁄4
	May	48	3⁄4	48		47	7⁄8	46	7⁄8	46	7⁄8	46	3⁄8
Oats	Sept.	34		34		34		34		34		33	3⁄4
	Dec.	35	1⁄2	35		34	3⁄4	34		34		33	5⁄8

[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.