Receipts at Kansas City totaled 3,443 cars. The movement from the
country was large and is expected to continue in good volume for some
time. Milling demand was only fair. Eastern mills took only small lots
and Northwestern mills also bought on a small scale because of the
promising outlook for Spring wheat. There was an excellent export
demand, however, and very active bidding was indulged in by exporters to
the Gulf who were eager to obtain wheat to fill sales for shipment. Bids
for wheat for August delivery were made as high as 17¢ per bu. over the
Chicago September future price but later were reduced to 15¢ premium.
Bids for September loading at the Gulf were made at 13¢ over the Chicago
September price.
The activity in the export market was especially noticeable at the
Atlantic seaboard markets, as the failure of shippers to make delivery
on July contracts compelled many exporters to buy in the open market to
fill the ocean tonnage already engaged. A number of boats were loaded at
two or more ports in order to get sufficient wheat for the cargoes.
There was a good demand for Hard Winter for various continental markets,
for Red Winter for France, and for Hard Winter and Durum wheat for
Italy.