Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-05-07
MARKET NOTES

Shorts in May wheat who are HOLDING
out 1ind that it is harder to buy al
the premium over July increases he
Ing Nc at the close. Hedgers ana
spreaders who have overstayed treir
market appear to be in bad, as offer
ings Of May are light, and it would
De no surprise to bulls to see 1t go to
loc over July. So far this month there
mas been 100000 bu cash wheat
bought from the Missouri river mar
kets 10 come here, and a good part
OF II sold to 20 to store. II Is the he.
lief of many traders that while MAY
! continues to show strength Il win re
dlnlcult to break the deferred futures
70 any extent. Bears. however. take |,
uiHerent view Of the situation. and say
the new crop months have nothing 10
40 with May. as 1t is an old crop de-
livery and should not be affected by
new crop prospects. It was noticeable
mat the leading interest was a. free
selier or July at the close A few ~ tina
."mmission houses which have irsra
ouiiish Tor several days were M 40
confident OF their position last night.
put tney did not advise short sales.
| Corn has had a four day bulge ard
prices are up &c from the recent low
point. This has reduced the spec,lfIn-
tive short interest and some OF tho
bulls said last night that they looked
FOR reaction. They believed. hnty.
eyer; that prices would sell higher ftnr
the break on the theory that most sff
not all, the corn being sold TOR J,lv
ana September Is short stun, as thcrs
Is little or no hedginf They say there
Is no possibility OF Argentine corn he
ing depressing factor for the proy-
ent. and that Tho corn sitratio,, -
stronger than it has been for some
time. They look f.r May 10 sell 10
70c after there is little setback. III
was the gossip OF the pit yesteriny
that J. A. Patten vl,o was In ~c,y
york and sent a hull'sh incsea -
corn. was buyer here J. ,re look far
corn planting to be finished In tvo
weeks and expect that receipts viii
was an uneven horse market.
Deep minded chunks. wcikh!ns 400
lbs or over. and with Quality are of,cN
more In very active demand, with tffe
best ranging from $c25 to $40 ana
medium sOrts down az low as $3.50 70
s215 Light chunks. with quality from
$3.50 to s200--bulk Of all decent chunks
around 5000 to 1910, but plenty sellins
below that figure. -
Heavier sorts from $40 upward. $.6a
OF thereabouts taking most Of the beet
In offer this week. Farm stock In fair
demand at the same old range, buyers
being unwilling to pay moro than $500
for the best pair Of geldings that
grows, and most Of tho strong -wei9ht
pairs for this use going around $s7s
to 1890, and down a. low as $500 for
the aged and plain and contingent
Nice. little blocks. weighing as high
ss $500 lbs the pair. reach as higi, az
bulk Of the light delegation for farm
trade sells at s275 to $500 the pair.
Wagoners are fairly active At t1Ss
to 1910 for the bulk, with good sorts
to $225, and the tops to $240 Livery
stock uncertain sale. with plain small
sorts from $50 to $3.50 the pair. and
single drivers all the way from $50
upwards. according to quality, manners
and the customer
Average temperature slightly ab0ve
the normal in the eastern and central
districts said the weekly Iowa wealth.
er crop report. mo frost occurred sex-
cept in the extreESe northwestern
counties, where the vegetation was not
far enough advanced to be injured
Copious to heavy showers occurred IL
all sections. but the railfall was CEN
orally less than normal In the east
and was heavy and In some localities
excessive in the western counties. the
greatest amounts being reported from
the southwestern district The wet
weather Delayed blowing and the cold
nights retarded corn planting The
| rain, however was Of great value to
grasses and small grains
Argentine weather reports were
watched with unusual interest by the
trade yesterday. A late cable report
ed heavy rains throughout the central
portion OF that country ana that the
corn would not be 1T to ship for thirty
| days at least. A Buenos Ayres report
said: Rain has stopped all field work
! in corn. Stocks at ports are light.
| Markets advancing on prospects Of
small arrivals until June" BrornhalYs
early cable said 1t rained heavily Mon
day in the west and north and that
the corn market was strongly affected.
Traders are pessimists regarding the
quality, and fears are generally ex-
pressed OF serious damage, and that
much corn will be Unfit for export.
May shipments will likely remain
small Buyers at Buenos Ayres are