The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1909-11-04
Daily Grain Letter.

lilverpool closed ~ to sd lower. he.
ceipts here today 56 cars, year ago 81.
The Price Current in its weekly sum-
mary speaks we'll OF the outlook for
the fall sown crop. Liquidation
has been extremely heavy in the De-
cember delivery the past two days
The probability OF severe congestion
later on is not so strong as before the
big ecember holding was reduced,
some of the most important longs
have disposed of their lines. This de-
livery is still heavily oversold how
ever and so long as 1t remains at a
considerable discount under cash
stuff, we believe that purchases on
such sharp breaks as those of the past
two days will result profitably. The
ultimate situation must be bearish;
private reports indicate the Argentine
crop considerably in excess of last
year, one report indicating 20,000.000
bu., more available for export. With
Argentina, Russia and CanaSe in a
position to ship heavily, the United
States seems to be out Of the running
and we will have to carry over a con-
siderable surplus next spring unless
prices sink to level that will permit
of export. We still believe that sell
ing policy consistently pursued on the
hard spots in the May delivery will
result in good profits.
Corn-Liverpool closed Nd lower.
Receipts here today 124 cars, year ago
las. The clear and cool weather in
all directions will be a great help to
farm work and marketing of the new
crop. The Price Current says that
the crop is likely to equal expectations
and an early movement is indicated
The Governments report on the farm
reserves next spring will probably
show the biggest figures in years AMI
judging fom the character Of the re-
ceipts there is considerable old corn
| yet to be marketed. Speculative buy.
ing influenced by sentiment that
corn under so cents is cheap has been
the principal support to the market
Cash demand is not gold and when the
movement starts buyers will In all
probabilities liquidate freely. The
| Patten interest continues to press
heavily on the bear side of the May
delivery. We believe they are right
and will ultimately make big profits
and we feel that sales of May corn at
| the present levels Or on any advance
will result profitably
| Oats-Receipts here tDday 1874 cars
year ago 1879. 1t is not difficult tc
| maintain prices as long as receipts
| continue light and with the enormous
demand for cars the coming thirty O
sixty days the light oats movement
will be probably further exaggerated
Pit observers pretend to see deserticr
1 of the December delivery by the lead
/ ing bulls. Even though this should BIZ
the case We can see no cause to turr
bearish on December oats. AS long
as receipts continue small, stocks will
dwindle away. Armour is holding aN
4 will continue to do so. In addition tt
this oats will be moved while dealers
need cars to handle corn. We still
feel bullish on December Tut see M
4 encouragement to take the long side
4 of the May delivery.
Proyisions-Hogs, 10c higher. West
ern receipts, 10000 under last year
Commission house investment buyin,
continues good Offerings fairly lib
eral on the hard spots. Selling almos
entirely by spectators, as packer,
have little reason to hedge stuff
whicl- the consumer is taking as rap
idly as manufactured. Provision
prices are high, but look as though
they would go higher. Estimated re
ceipts hogs tomorrow, 10000
Daily Range Of Prices.
/ CHICAGO, Ill, Nov. A.
Open.High Low. Close. Close
Nov. 4. Nov.
i WHEAT
May 1921 1929 1913. 1921 1925
Dec !. 1o1M 1925 1915 102 1917
July 951a 95M 953s s57s 95N
May I. coz 6oM eo% GOES SOY
Dec. I. 5S1s 5S% $50 5s5s 5s1
July !. Goa 6os so 6oA COL
OATS
May !. 41ss AZ 41Ss 41% 41a
Dec. s. 39A 3s1a SO ssA 39A
July 8. S91a 1895 1914 1914 a9a
| PORK
May 10. SO 10 So 10 AT 10. SO 10. A
Jan. \. 10 80 1896 10 S2 1885 10 Z
Lard
/ Nov. 10. 20 10. 80 ~. 30 IL. 80 10. i
May IL 80 11.3 11.25 II. 80 Il 2
Jan. j. II So lilo 11.6o ITO IL. s
4 RIBS
May 10. 30 1922 1917 1920 1911
Jan. :. 10 80 1890 10 q 10. 80 1912