Show ROUGING WHEAT MAY MA Y BULL PRICE Farm Board Surplus Chief Obstacle to Sensational Market By JOHN P. P BOUGHAN Associated Press Market 1 Editor CHICAGO Feb 20 Grain 20 Grain traders arc are eagerly watching developments expected to reveal within a month whether large areas of United States winter wheat must be abandoned Latest reports suggest that about acres of the domestic winter wheat belt may show up with a crop far below normal and if Jf not abandoned abandoned aban aban- outright may promise a light yield The area in question embraces the greater portion of the western third of Kansas and parts of ot Oklahoma ma ma Colorado and Nebraska Facing such an outlook wheat this morning showed 8 78 cents a bushel advance compared to a week ago Corn was 2 1 6 1 G 5 higher oats 5 4 1 up and provisions varying from 2 cents decline to a rise of or 30 cents Many active traders express themselves themselves them them- selves as rapidly coming to a conclusion conclusion con con- elusion that only the estimated bushels of ot farm board wheat is now BOW standing in the way of a sensational sensational sensational sen sen- bull market How to eliminate dual dual- nate the farm board holding in a manner which would involve a minimum min of effort and also of loss has brought to the surface one prize plan that originally was scoffed at but appears to be now gaining widespread serious consideration The idea implies implies implies im im- im- im plies converting the wheat from a bread grain into a and is based on Germanys Germany's successful experience experience ex ex- with a huge surplus of rye In 1930 By means of artificial stain or dye de it is proposed that a sufficient percentage percentage per per- of the farm board wheat be rendered uninviting for fol use as a breadstuff but left available for animal animal ani ani- mal feed as in the case of Germanys Germany's surplus of ot rye The aggregate of wheat thus denatured it is urged would be hardly a drop in the bucket compared to the or more bushels of ot corn and oats oa s crops to say nothing of several hundred million bushels of barley An additional point is made that department of agriculture reports in indicate indicate indicate in- in many more hogs in Europe to consume feed grains than ever before known and that a large part of the denatured wheat could be sold abroad besides supplying domestic i eastern dairies and other interests with feed heretofore obtained from United States milling of Canadian wheat which beginning March 1 will willbe willbe be presumably curtailed by the new British import duty of 10 per cent on flour lour Assertions are advanced that b by converting wheat into feed the farm board board would only be taking a loss which appears inevitable and would also cut down storage charges not notto notto notto to mention the stimulating price ef effect effect ef- ef feet on grain the world over It is Js urged that with wheat going up corn cornand cornand cornand and oats would follow to a considerable considerable considerable consider consider- able extent An element of strength in the provisIon provision provision pro pro- vision trade has been some decrease of the movement of hogs to market 4 RANGE OF LEADING FUTURES CHICAGO Feb 20 CAP CAP- AP Wheat Wheat- at- at High Low Close Clow March 5 J 53 5 57 5 May tay Gt 61 61 SI 61 July 03 03 62 62 September 64 61 1 4 64 6 64 Corn Corn- March loT 1 35 May May 40 40 Jul July 42 42 42 42 42 September 43 43 43 43 Oats Oats- March 23 23 May 25 1 25 25 4 July M 0 25 tt 2 Rye Rye- May 46 45 31 46 July 4 43 2 41 43 48 8 September 50 is' is 1 59 59 Lard Lard- March 85 I II May I a y 7 Jul July Bellies- Bellies Slay tiny S C CASH QUOTATIONS CHICAGO Feb 20 AP Wheat APi Wheat No 3 red f 58 8 lc No 2 I hard No 1 northern sprint spring 61 c. c Corn Corn No 3 yellow rellow 34 35 c No 3 white 3 Oats Oats No 2 white Rye Rye Barley Barley 42 SOc Timothy seed seed 50 Clover cr seed seed seed 1425 Lard Lard Ribs Ribs Bellies SiS Bellies KANSAS CITY KANSAS CITY Feb 20 Wheat CAP AP Wheat Wheat- Receipts cars carst lower 0 o 0 2 dark duk hard No 3 No 2 I hard 53 Vt 4 56 55 c No 3 No 2 I red No 3 52 55 c nominal Clo Clow May Slay 52 c Jul July 5 c September Corn Corn Receipts 20 O cars aB c lower No 3 2 I white 33 HS 39 Vic nominal No 3 3 36 nominal No 2 yellow 39 72 40 c nominal No 3 3 37 nominal No 2 mixed nominal No 3 34 f 1375 lt nominal CI Close e May July 40 c. c Oats Oats Oats- Receipts Oats Receipts 5 cars nominally un un- chan chanced ed No 2 white 27 f 30 c nominal No 3 H 2 29 c Rye Rye nominal Barley BarleY 30 nominal MINNEAPOLIS MINNEAPOLIS POLIS Feb 20 AP Wheat AP Wheat Receipt 61 cars compared to oa a anal year rear ago market Uc c lower cash No 1 northern north north- t I i 5 ern em No l 1 dark northern t gi-t e 15 per ocr cen cent protein 79 19 c 14 per cent Protein ic 13 per cent protein c 12 13 per cent protein 72 ft 75 p. p No 1 1 dark hard hud Montana 14 per cent nt pro pro- tom tein to arrive 13 c No lo 1 amber durum 92 ic c No 2 amber durum 91 5 o No l 1 red durum May Stay July lo rJ September Pt Corn Corn No 3 yellow Oats Oats No 3 white 25 v. v-v. c Barley Barler 42 Rye Rye No I 1 43 11 Flax Flu Flax No 1 i. i 4 WI WINNIPEG WINNIPEG Feb 20 AP M Wheat Wheat- Hish Low Close M May Ma 5 67 J S 66 S S 5 67 i July 63 63 63 68 4 LIVERPOOL LI LIVERPOOL Feb Fob 20 0 Wheat CAP AP Wheat closed March farch May Slay 60 ic c July Jub ex- ex change 1345 October unquoted 4 FLOUR MINNEAPOLIS Feb 20 Flour CAl AP Flour 5 S cents higher In carload lots family patents patents pat pat- eats quoted a barrel In la pound 98 cotton sacks Shipments Pure Purs bran bran bran Standard S 1150 4 1200 |