Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-07-29
OPERATORS GUESSING
Experts in the Corn Pit Kept
Guessing on Crop and
Prices.
Can't Tell Whether Price Rela.
ton to Possible Crops
Is High.
a.
Reactions Of Five Cents, Selling
by the West the
Rule.

Chicago, July 29.-Corn spectators
TIE past week have been trying to de-
eide the fine question of relation be-
tween the crop loss and the advanced
Price. That it has been recognized as a
difhcult and dangerous point is shown
by the falling off in the volume of gem
eral trade. The man away from the
market has shown especial timidity, and
from market under the control of the
west it has become one largely profes
sional. Prices month ago We're on a
basis made familiar by the experience of
Year or more. The December corn was
at 40 cents or little under. and the
SEPTEMBER and May were well down in
the 4O's. The quotations last Monday
showed from the level of about the mid
die of June rally of IL to 20 cents a
bushel, a rise of 40 to 80 per cent. The
September was up TO 593s cents from
42A cents on June Is, the December to
60A cents from 1919 cents in June and
the May to 621s cents from 44A cents on
June "a The scent break in day, fol-
demonstration OF the Spectators uncer-
tainty as 10 the matter of relationship as
to whether the advance discounted the
crop loss or more than discounted ii. Ii
the corn trader knew the extent of the
drought loss 1t would not help him much
toward the solution of the problem.
With equally good authorities apart
400 100000 bushels in their crop views, to
decide whether there is to be 5O-cent
price this season or GO or 70-cent is a
matter entirely OF guessing. The aver
age farm price in 1894 with yield of u
200o00,000 bushels. was 40 cents; and In
1890, with crop of 1.4s900o,0oO bushels,
the average farm price was 30 cents. Oh
the smaller crop the Chicago price
reached barely 60 cents, and speedily
declined, and on the larger 1890 crop the
Chicago price reached 10 cents before the
crop year was finished.
A feature last week was selling by
the portions of west which obtained
relief from showers. To offset that
there was adding to long lines by the
Kansas and Nebraska interests whose
crops We're losing ground. The con-
test now is around the soc point. The
west had relief from showers on FRI
day, Saturday and Sunday, and is
promised more. The Price Current es-
Inmates prospect at 1.6T5.00o,000 BUSH
els. Those who accept this rigure
probably consider the price high
enough. Those who agree with Snow,
who estimates Kansas at only % per
cent of an average. Missouri at % and
Nebraska at 80. who says the result
will be far below any private sugges-
ton, expect corn some time on this
crop to get in the 7os. The big local
lines are said to belong to Gudahy
and Phillips. The latter, from his
Kansas farm, began buying corn early
in the month. That he is still u holder
impresses many who know his natural
inclination TO the selling sides of II
market. The pit interest generally IS
about equally divided. Out siders have
been compelled To lessen their holdings
by the wide fluctuations. BARTLETT a
corn leader for years. is among those
who look for higher prices. The inn
mediate market depends much on the
skies. Rains, whether really valuable
or not in reviving corn, will have most
to do with the pit mood.