Salt Lake Telegram | 1930-01-05 | Page 23 | Price of Wheat Breaks Sharply

PRICE Of WHEAT T BREAKS SHARPLY Purchase of Russian Grain for Great leat Britain Causes Decline By JOHN P. P BOUGHAN Associated Press Market Editor CHICAGO Jan 4 AP AP Wheat prices went WeIlt on the Ule rocks today and ancl Jolted downwind do hero near nearly 30 a a bushel hushel of oC Russian wheat for Great Britain fol followIng following fol- fol lowing 10 a a. purchase t yesterday j for tor Italy Holy acted ns ru a decidedly disturbing disturbing dis dis- Is- Is turbInE influence because o of possibly UI bl bly foreshadowing une unexpected 11 competition com corn petition to be encountered b by the United States StaleR and Cana Canada a in supplying sup sup- plying transatlantic nUe needs s. s Considerable Consid erable disposition was shown hown In various various various va va- va- va rious quarters however to rC regard rd tho ho Russian exports a as merely a ruse by hy European Importers toward obtaining cheap wheat from North America With Uh rallies Jn in 11 pro progress rc s at the thelast thelast thelast last tho the Chicago o wheat market closed nervous 1 l- l l lc c to a n. bushel lower than yesterdays yesterday's ye terla finish Corn cloyed closed d 1 Sc l to l 1 down own oats Sc 1 to l 4 1 Sc 5 3 off an and provisions showing ln Cc Gc to JOc JOe decline British buying of Ru Russian wheat today was as reported a as consisting o of bu bushels of or low 10 grade l' l wheat at a n. premium of oC t 1 I 1 l l-c a n bushel over n tho the price of United St States tR No 10 i hard winter wheat wheaL Greatly emphasizing J the tho disconcerting disconcert lug ing effect or it f this development was wasa as ast a t sharp Shari setback In Liverpool wheat t Ii quotation J U U tat I OI b do no tI the tho o market opened 01 Thera were al also Q advices at hand saying that wheat offerings front rout liT Russia were duo to exigencies en le of or tho the financial situation and that tho the soviet government 0 would probably try to force some exports Comparative scantiness of or North American export orl 1 business In wheat today to bushels In In ending a n. cargo carEo of hard hord domestic wheat for Cor Portugal al operated operate further further fur tur- ther as a a. hearl bearish h influence On the theother theother other othel- hand Chicago wheat traders were quick to call attention to tho fact that th the tho United States Slates department depart depart- ment of or agriculture has hus reported thuU there thero was as but little chance of 0 Russia Hussla appearing on tho tue world market market mar mar- I ket hot this tills year either cither as a seller or buyer of or wheat in a lar large e way Con- Con notice toward the time lastS to today today to- to day was wa also aiso taken taJ of or an ori official front from rom Washington ton reportIng reportIng report- report Ing In accumulation of evidence that native natho European grain su supplies have ha been disposed o ot of at an abnormally abnor almor mally rapid Tate rate and th that t. t recognition nl- nl tion was being given L abroad to need 1 of ot greater reater dependence upon North America than npr app appeared probable a a- afew few Cew weeks ago Corn an and oats w ro responsive to wheat weakness and ami to fine weather for corn movement Country offerings offerings offer offer- In ings s of ot corn though were Vera light Us-bt and shipping demand here hero for corn to go 0 east cast was b better Notwithstanding upturns In the value v ot or hogs provisions pro cased down as a 3 result of or packers' packers selling GRM GRAIN GRAIS T. CHICAGO Jam Jal 4 AD I At VU Al high Lo Low Low- Clo Jl J t 1 March fArch 1 i 18 1 t May lay II is 13 JU July July 13 1 6 i 33 Corn- Corn March il 11 90 o 01 i l May f 9 94 9 i I 94 3 11 ICS S Jul July H 96 6 96 61 i G GOds Oat Oats Oats- March H 17 17 S 4 7 ITS May ty 1 y 19 i 9 3 S Jul July 1 Is S tZ 7 is ny nI March 10 l. l 3 i 6 11 May 1 lO 1014 io mo LOJ i JOlT Joiy 4 I ard nu Jl January tr 1009 1100 s March 1020 0 1017 1017 May 1111 1045 1046 1040 1040 No ribs rubs p D Bellies Bellies- elI Ies January 1145 May 1217 1206 1205 IO CASH J CHICAGO lan Jan 4 AP AP AP at- at Ko I 2 hard JIMI Corn Corn NO 4 mixed SOc Me Xo No 5 S 8 I 1 tJ ft I 8 I c c. c Oat Oatt Xo 2 Sc Xo No o. o Z white 44 c. c nO NO aalf aale Barley Barle Barley Quotable ran Timothy f cd t JO Clover r U Iet l O. O 6 1800 Lud i. nib tIb- tIb 1050 sonic nie 11 6 R RAIN M TE KANSAS CITY Jan 4 AP AP r era re tone ions dO I 1 cc o t to c N N. N 2 dark hard hard nominal II No n. n 3 Nominally t. t No 2 hard l No r. 3 s I No 2 r rc red I. I t i No 3 L Close May l. i i July I. I i. i Corn Corn Receipt 1 4 cars car tono tone un unchanged un changed d to tl Ic lc lo lower r No 0 o 2 white while non nom No o. o 5 s. s Ia NI No o 2 y yel l. l low nominally 84 8 III lIc No Nt 0 3 2 nominally 82 No o 2 mixed nominally Sic No o 3 I. 78 Clone Cioe May c July H g rr Ot no 6 C Cars tono nominally nom unchanged No 2 whIte nom nom- IGe No 3 nominally Ry Rye Nominally Nominally D t Ge Barley Barley MINNEAPOLIS Jan 4 Wheat A-Wheat Receipts 10 ca cars compared to HI a rL year t ago alto cash No o. o 1 northern 1 tO i Xo No o. o I dark darl northern 15 1 JI per percent r cent protein I. I S 1 14 It per percent percent cent lent protein 31 1 13 11 per cent tin II 1 13 H 12 32 per Nr c cent nt rol n U. U 11 No 1 I duric dur hard Montana I 14 4 per cent protein ln to p O. O 1 umber limber durum 4 N No 2 anth r durum i i No fila o. o 1 I r red J durum May Jl I. I 4 J July 1311 Corn Corn O No 3 ellow t XO MIh o. No 3 J 44 jf n e. e TIft S oi 11 r Rye n. No i i. i 94 c. c Flax l' l No 1 1 NEW YORK Jan I 4 AP AP TIc r ye easy CUY No 2 trU 11 f. f 0 o. o b. b New York and LIO c c. c I. I f. f export UnitY c c. I. I t. t New York olk Wheat SPOt heat Spot pot easy casy No 1 northern c. c c. c I I. I t. t N New w YOl York No 2 hard hald winter f. f o. o b. b New w York nn No 2 Manitoba do 1154 No 2 mIxed d durum ilo do nominal No o. o 2 amber durum do i. i I Corn Corn SPOt Spot easy No 2 yellow c. c I. I f. f New Now York 1044 No Z S y yellow do U 11 01 Oat Spot t NO O. O 2 white S 57 71 c. c Other articles 5 ST ST. LOUIS Jan 4 AT Cal iP Wh Wheat What Nf No 2 C red winter 1373 t tto o. o 2 hard Corn Corn No i 4 yellow Ii 51 Ic No o. o 3 while ISe Out P I II I No 2 white 46 j He Clo doll May 1 31 July 1 1131 11 Corn Corn May May l c. c July 97 n Uc c. c O OMAHA Jan 4 4 AP AP AI Wheat No 1 I hard herd UI 1 10 O No Nu 2 Corn No 4 while white lie No I 6 S white while 7 74 Hric 4 Vic c No 4 yellow 10 1 74 No 6 6 r. 3 71 43 2 jc oal No 3 white 43 c. c Jan Jen 4 AT AT Ap Clo Cloae Ma May lay Jul July auly i. i May flax fin clore 7 Cai li wheat heLl No 1 northern UH No 2 1 northern U 1 No 3 J northern 1 9 4 t. t Oats No 5 G I c No 3 white 66 lie I TOLEDO Tan lan 4 01 Af Wheat P Wheat No I 2 red Corn Corn No 2 yellow nyc Kye No 2 U 1 Clover unchanged PORTLAND Ore Ore Jan 4 AD P- P futures close close- March tarch 1 8 May hay H 1 I 51 31 July 1111 In Cacti wheat Die Big Bend blue stern stem hard I tl I 37 3 foft iott white western vestern while whiteS 1 26 bard winter inter northern spring Wl western r red d. d It 1 34 n Receipt Receipt- Cam Carm wheat Bl SI lour Hour 3 corn 4 i bit bay I I 1 t. t barley and oats none I Jan 4 t AD AP Spot Spot wh wheat 31 No Nu 4 Manitoba lOa Hd lid O rosate 63 pounds Os nd 1 I 10 10 Wheat close March 10 9 Is Cx d 1 fl 41 May MIlY 99 a I 10 lOid 1 l Jul July 9 0 10 d i D