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.