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.
The visible supply statement issued on Oct. 3 showed an increase of 1,636,000 bus. of wheat for the week. The total on that date was 52,795,000 bus. compared with 27,391,000 a year ago. The supply statement also showed a decrease of 726,000 bus. of corn for the week, making the total 11,765,000 compared with 7,587,000 a year ago. In the Chicago market on Oct. 3 No. 2 Mixed corn sold at 2¢ to 2¹⁄₄¢ under December and No. 2 Yellow at 1³⁄₄¢ to 2¢ under.
=Wheat Inspected Out Under American Grades Only--Flour Not Included.=
[Thousands of bushels: i. e., 000 omitted.]
------------------------------+------+-----+-----+-------+------ |Wheat.|Corn.|Oats.|Barley.| Rye. ------------------------------+------+-----+-----+-------+------ Week ending Oct. 1: | | | | | Atlantic ports[1] | 2,061| 157| ... | 101 | 214 Gulf ports[2] | 2,330| 158| 9| ... | ... Pacific ports[3] | 1,149| ... | ... | 483 | ... +------+-----+-----+-------+------ Total | 5,540| 315| 9| 584 | 214 Previous week | 4,379| 193| 12| 2,031 | 186 Corresponding week last year | 7,417| ... | 67| 104 | 623 Total, July 1 to Oct. 1, 1921 |85,223|6,581| 344|11,357 | 2,528 Corresponding period last year|83,750| 97|2,057| 5,545 |11,469 ------------------------------+------+-----+-----+-------+------
[1] Boston, New York, Philadelphia, Baltimore, Portland, Me., and Newport News.
[2] New Orleans, Galveston, Texas City, and Port Arthur, Tex.
[3] Seattle, Tacoma, Astoria, Portland, Oreg., and San Francisco.
[Illustration: AVERAGE PRICES PER BUSHEL OF CERTAIN GRADES OF WHEAT, CORN, AND OATS AT FOUR MARKETS.]
Ocean Freight Rates on Grain and Flour Reduced.
A new schedule of grain rates for the North Atlantic service has been announced by the Shipping Board, as the outcome of a joint conference of shipping companies recently held in New York. The old and new rates on wheat and corn per 100 lbs. from North Atlantic ports are as follows: