Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-09-01
GRAIN REVIEW OF
THE PAST WEEK

maStlC condltlOnS In THIS country. luero
were rains over the corn belt which
will greatly improve fall pasturage. al
though it is believed that the moisture
came too late to benefit the corn crop.
Nearly continuous high temperatures
over the central and northern districts
east Of the rockies, with beneficial rains
over the cotton region and continued
drouth in portions of the western cot
ton belt. In the corn belt west of the
Mississippi drouth prevails IN Iowa
and portions Of adjoining states, caus-
ing still further damage to corn and
other late crops. East of the Mississip-
pi river, except in the middle Atlantic
states and over the south, favorable
showers occurred and late corn and
other crops were greatly benefited.
Flowing for wheat is in progress over
much Of the country eas> OF the Mis-
sissippi river. with soil in good condi-
ton. In the west blowing is progress
ing to some extent, but the ground is
mostly too dry for satisfactory pro-
gress. In this section water is becom
ing scarce, especially in Iowa, and
pastures are greatly in need of rain. In
the spring wheat-belt harvest Is near
ing completion and the weather is fav-
orable for threshing. General showers
improved pastures and benefited corn
and other late crops.
The movement Of grain from farms
and interior elevators was somewhat
lighter this week. It seems the sharp
advance in prices for all grains has
made the grower decided bull and
there Is q holding movement on. Coun-
try advices are to the effect that farm
ers are selling little, if any grain, and
they are forwarding little on consign-
ment. In the northwest there has been
q big increase in wheat receipts, Yin
cipally because Of the first movement Of
the new crop from renters who have to
have the currency and from farmers
who have not the facilities to store the
grain on their farms. Throughout the
winter wheat territory the movement
has been much smaller. This also il
true of corn and oats.
The warning nations need oats and
Great Britain is leading the buying
movement There was a decrease Of
s5S, 900 bu In the United States visible
supply Of wheat and an increase OF
$4,000 blu in corn and 3.297,000 blu in
oats The worlds available supply OF
wheat decreased 3,686,000 bu last week.
$4,000 bu in corn and an increase OF
8, 900 blu in oats.
There was active trading In the
speculative markets on change last
week. There was big buying move-
ment developed with the trading public
taking more interest in the grain and
provision markets than for a long time
past. Price advances were rapid despite
liberal sales by profit takers on all OF
the advances.
1t was another banner week for tho
cash grain trade this week. Higher
prices ruled in every commodity dealt
In on the sample market. Cash corn
was not SO active as the week before
and there was little slowing up In
the demand for cash wheat, but sales
! of cash oats for domestic and export
account were Of record breaking vol
ume. 1t is estimated that close to 81
900, 900 bu Of cash oats were sold for
shipment.
WHEAT-In winter wheat q decid-
eddy firm feeling existed again the past
week and further advances Of 1O@14c
occurred, but at the close was weaker
and declined 5@6c. Trading was active,
and besides the regular local buying
there was some business in an export
way, and this, with the less favorable
advices regarding the spring wheat In
the Canadian northwest, were the rea-
sons for the advanced prices. War news
however. was the principal stimulus.
The fact that wheat was being export
ed to points in England and France
started renewed buying and helped the
advancing tendency Of prices. In the
cash market higher premiums were
paid for the fresh arrivals at the com
mencement Of the week, but these pre-
miums narrowed down for the soft
while the hard wheat held up fairly
we'll. Millers bought moderately, and
/ the fresh receipts met with ready sale
mostly to local interests who sold
against their purchases for future de-
| livery. The receipts show considerable
| falling off, the Dig rush evidently being
over for the present.
| Spring wheat prices were advanced
| @10c the past week. There was little
more wheat received the very good
prices bringing forward some Of the
new crop. But as for several weeks
prices were almost entirely nominal for
| lack Of offerings. Small receipts pre-
vented larger trading. A fair demand
existed, and the few cars received met
with fair demand, Stock is we'll re-
duced-there virtually Is no wheat in
public elevators, and this enables hold
ers to gain good premiums over win
ter Receipts for the week aggregated
So cars, as compared with 80 cars for
the preceding week.
| The regular wheat market was a
most sensational one during the past
week. Price changes were sharp and
continuous, and while the volume OF
trade was at times big, the aggregate
| was smaller than the week before
Crossings were IA uSN nlsneT. Inc
buying power which asserted itself
during last week. was still in evidence
| this week and everything offered was
eagerly absorbed by the public as well
as by foreigners. The strength of the
concerns which led in absorbing the
wheat available was q pronounced fac
tor. The connection Of these houses
showed without doubt that foreigners
were accommodating big lines of wheat
and that they not only bought freely on
the soft spots which were to be seen
here and there, but that they followed
the market upward in manner THAT
was alarming to those who were short
or to those who believed that values
were too high. The advances were well
held, and those who wanted wheat were
Obliged to bid up for 1t in order to Sc
cure it. Word came from several of the
grain raising countries Of the old
world that while wheat harvest has
| progressed with more or less favor
that in one or two countries the mex
perienced harvest hands are report
/ ed to have caused heavy losses.
Recent advices from Kansas say that
farmers there are talking Of putting ir
10 900 900 acres wheat this year, com
| pared with S,580,000 acres seeded last