Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-12-23
GRAIN REVIEW FOR PAST WEEK SHOWS .
BUSINESS FAIR IN COMMERCIAL WORLD
WEATHER CONDITIONS THROUGH
MOST OF GROWING BELT
EXTREMELY MILD
CASH TRADE LARGER

Corn Badly Broken at Start With
Selling Based Chiefly on Free
Marketings at Home
| and Abroad
| Chicago. Dec. 22-Business in COM
mercial circles on the Chicago board or
| trade during the past week was only
, fair The leading speculative markets
| on change were only moderately active,
but the trade in cash grain was con-
! siderably enlarged. Transactions In the
cereal list were mainly for local &C
| count. outside interest being less in
evidence. and business in the aggre-
gate only moderate. as is generally the
case with the approach Of the holiday
! season.
Foreign crop news, as cahled from
abroad indicated no material chanse
| in agricultural prospects. Favorable re.
. ports We're forwarded from the united
| Kingdom, the weather being mild. Ad-
! vices from France claimed unseason-
! ably mild weather and too luxur1ant
| growth Of the wheat plant. Lower tenn
peratures are now much desired, as
| vermin are increasing. Offers Of native
! wheat are larger and would be consld :
cred liberal. An official German report
placed the condition Of wheat 10 per
| cent higher than last year. Native OF
| fcrs are disappointing and are not in
accordance with large crop estimates.
| The demand for foreign wheat is less
| active, however. and the weather mild
| The outlook for the new crop In Rus
sia Is generally favorable. In the south
supplies are moderate. interior large
and Baltic district increasing.
Weather conditions in this country
during the week just closed were un-
seasonably mild. though clear In most
sections of the grain belt. Advices from
! the west and southwest continue to re-
/ port the wheat plant showing abnormal
growth, and fear Is expressed lest a
sudden freeze without snow protection
would cause considerable damage. Re-
ports from the Pacific northwest were
| highely satisfactory; in fact. most sec
! lions claimed the plant is we'll ad-
vanced and healthy. The government
| report made the area seeded TINS rail-
! sc, sos 900 acres and condition 97.2 per
cent. as against 90 2 one year ago; rye
| condition 93.5 per cent, compared with
| 935 in 1912. Conditions were generally
more favorable for curing corn. but
still lower temperature desired. Grading
! only fair. Pasturage Is in excellent con-
dition and live stock In good shape.
The movement of grain from the
farms and interior elevators during the
| past week was again OF fair proper
tons Weather conditions were, on the
whole, quite favorable for handling
grain in the interior, and the arrivals
| at the leading terminals continue to
make a fair showing. Deliveries In the
| northwest showed moderate shrink
age, while in Canada the movement Is
still very liberal. but with the advent OF
| rough weather is expected to show a
| sharp curtailment. In the west and
! uthwest the movement Of grain was
| very fair. and in the middle west was
! moderately enlarged. More corn moving.
| Locally the receipts were considerably
larger. Consignments increasing and
more new corn coming. while purchases
| to arrive We're fair. The shipments of
grain eastward were fair, and arrivals
| of wheat at the seaboard continue lib
eral, but small Of other grains. Exports
of breadstuffs quite heavy and limited
| Of corn.
| The leading speculative markets on
change were moderately active this
| week, with transactions still largely for
local account. Wheat ruled somewhat
unsettled. but finished fairly steady, al
! though Is ole lower than a week ago
Rather an easy undertone was prevail
ent at the outset. due to the lower
cables, both English and continental
| and general lack Of speculative inter
est, the break in corn also being some
Ting Of factor. Values were Indirect
w steadied to some extent by the mark
ed contrast in the receipts northwest
compared with one year ago, continued
heavy exports, and large decrease ir
the domestic visible. Realizing sales
by holders follower, the announcement
Of the government report having a
"bearish" effect. but fair support de-
veloped on all dips, and part Of the
loss was regained at the last. Corn
broke badly at the start, and selling
was based chiefly on the freer market
ings here and elsewhere and break ir
cash values. "Bearish" estimates on the
probably surplus in Argentina and
lower cables were other depressing in
| fluences Shorts covered freely on the
decline and market rallied again later
on, and the late tone was fairly steady
| Oats weakened with corn at the out
set. but decline checked by the decreas.
ing supplies The government report
was about as previously estimated, and
had no effect. but there is a heavy
shortage in feeding grains taken col
lectively, as compared with the = i'm
mense yield one year ago. Contrac t
stocks decreased 1,695,000 bu last week
wHEAT-Only a moderate specula
| tive business was transacted last week
the market ruling rather dull and un.
interesting at times. and while senti.
ment was mixed, the late tone was fair.
~ steady. Compared with the close last
Friday December shows a loss Of &c
while the May lost y @7s and July % &C
At the outset the feeling was easy and
values tended lower, but keep within
limited range. This action was at
tributed chiefly to the lower cables
both English and continental, the gen
eral lack Of speculative interest, the
break in corn also being something Of q
| factor. Values were indirectly steadied
to some extent by the marked contrast
in the movement northwest compared
with one year ago, continued heavy
exports and liberal reduction reported
in the domestic visible supply. On the
dip May touched 91%c and July S8R q
S8bac, around which figures the offer
;ings were we'll absorbed. the buying
being Of good class. Argentina news
was mixed. May rallied to 92% 1s2kc
and July to S9h @S9Ac when liquida-
ton by holders was again in evidence
the profit taking being due in part tc
the "bearish' construction placed or