Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-06-23

arriving at Galveston was out Of con-
dition resulted in sharp advance In
corn at the outset. Reports of I'M
favorable weather conditions in Argen-
tina with firm cables from Buenos
Ayres and Liverpool. also created a
better buying demand. On the swell
offerings of corn were larger with con-
siderable realizing by holders and all
of the gain was lost. Weather condi-
tions in this country are favorable and
all sections now have plenty Of mois-
ture. Heavy buying Of oats by ware
house interests was the feature at the
outset. Later offerings were liberal
and the market reacted. Rains be-
came general In the drouth sections
and the general crop reports were a
| little more favorable. A local expert
claimed that the oats promise in Okla
homa was much ahead Of what recent
reports Indicated. Break in other
grains was also factor. The demand
for products was little more active
at the start, and prices showed some
improvement, although the trade was
not large. Later on there was general
| liquidation by longs" and the whole
list declined. Receipts of nogs larger
than expected and prices higher while
the tone of the grain list and the
"bearish" showing of stocks of pro-
ducts in store here, led to a scattered
liquidation by longs" while support
was Indifferent, buyers beinw more
independent Shorts" covered at the
last and the close was fairly firm.
WHEAT.-In winter wheat there
was further decline of about 2 and
21sc during the week. Ever since the
government crop report was issued
giving the condition of the growing
wheat, and indicating yield Of 640,O0O,-
900 blu. against 524,000,00O the final re-
port the previous year, a weak feeling
, has existed and steady decline fol
lowed. There has been a good milling
demand for the old wheat, buyers evil
IDENTIFY wanting to have a little stock
ahead OF immediate requirements, so
as to have little supply to carry them
over until the new wheat is suitable
for grinding. The purchases have
been mostly of hard wheat with mod
crate proportion of red, and stocks or
both hard and soft show material re-
duction the past week. Liberal sales
of old and new wheat were made to
exporters at the decline in prices. The
] few cars of fresh arrivals on sale met
with fair demand. Receipts were
small. Advices are to the effect that
old wheat is we'll sold out at the points
tributary to Chicago market.
Spring wheat prices declined about
&c the past week. A fair demand exist
ed on milling account, and cholce
wheat was taken up I>adily and prices
held up relatively better than winter
wheat or futures in the speculative
market. However, prices We're it.ie
better than nominal most OF the tine
The receipts were very llght ana lneIe
:, scarcity Of supply. Stock in public ele-
j yators also very small, and of choice
] wheat show material reduction. OF the
under grades there has been some IN
= crease, there being some arrivals oy
lake from the north.
In regular wheat declines of " "a "
were made FOR the week. Crop condi-
tons in the southwest favored much
lower prices, but the enormous takings
of old wheat at Chicago for export and
the chartering Of vessel room for ship
ment Of wheat have prevented prices
from breaking freely. Oklahoma has
sold large quantities Of the new crop
for early shipment, and the wheat &c
come out of that state Is Of the very
/! best quality. A car was received al
Chicago this week and it was pro
nounced by millers as ready for milling
Kansas City reported the receipts there
! Of southwestern wheat as of excellent
! quality, and st. Louis commission. mer
say that the wheat to come from sec
tons around that market were excep
tionaly fine The yields Of whea'
throughout the southwest vary coasid
= erably but they are generally satlsfac
tory. Many new estimates have beer
: made on the yields Of wheat In the va
rious southwestern states. and those
! putting out these "guesses" have re.
;. fused to lower their figures. In som'
sections Of Kansas, as well as lllinoi:
and Nebraska, the yields are said t'
4 be a great deal larger than all forn1e'
figures Missouri will have more wf1ea
than the fly reports would suggest, ant
according to the best authorities II
that state the quality Of the wheat vii
be good. Receipts at primary AM
northwestern markets have fallen shor
Of comparative periods of one year ago
:, but those markets will have much larg
err receipts in the near future. as tn
wheat to come out of the southwest i
: now being prepared for shipment an
the likelihood is that If the northwest
ern prospects continue favorable, tn
bins on the farms as well as in tn
country elevators will be we'll emptle
before another crop is to be seen. O
course the movement Of wheat will de
pend more or less on the price to b
realized at the points Of distribution.
Farmers Of the southwest are said t
be in a financial position to hold thei
: wheat II the price is unsatisfactory t
/ them but there will be the usual liberia
offerings from the early thrashing, a
renters and the smaller farmers viii
be anxious to realize on at least part Q
their surplus wheat. The sales Of ney
wheat by producers in the southwes
have about been equalled by the larg
, transactions on export account. One o
: the features Of the cash wheat marke
} at Chicago during the week just close
was the subrosa manner OF takin
, wheat by the importing countries
Foreign conditions have favored tn
/ = - -