Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-01-27

at S6Ia 190tkc for poor to choice No,
northern ranged at SS@SSc for poor to
choice. No>2 spring local billing was
quoted at SS@91c. No. spring ranged
at S7@S9hc and No. 4 spring at $40
SSc. Velvet chaff ranged at $1,000 NC
for poor to choice. No. was about S41
sec. No. was quotably at S6MSSc. NO.
2 ranged at SSMS9Ac for poor to choice.
No. was quotable at S3@S4c. NO. 3
ranged at S4@S5Ac. No. quotable at
seq SSc, and No. l quotable at SS1a "a
S9lsc
The option market closed fairly firm,
with the May showing gain OF &c,
while July scored Y a 7sc advance. May
finished at 93&c, while July rested at
SS7s DS9c. Trade this week of mod
crate volumes the market ruling a little
slow at %he outset, livened up consider
ably towards the last. Local sentiment
was "bearish' at the outset and values
tended downward, but market ruled
dull and extremely narrow. The heavy
tone was due in part to the "bearish'..
foreign statistics and lowed tendency OF
values at Liverpool, the weakness IN
the southwest also being factor.
Country offerings Of wheat increased
and Argentine was reported as taking
the last step to admission OF their
wheat into the United States duty free.
Liverpool declined on the liberal
worlds shipments. large part Of which
were directed to the United Kingdom
and the easier tone to the spot market
there. but the break was held in check
by the publish" Australian news and
light Argentine offers. Australia re-
ported Japan and Africa after supplies
there and confirmed estimates of
reduced crop. On the early decline the
May sold to s19sc and July touched
S73s 0S7 hc, around which figures
better class of buying developed and
substantial rally in prices was scored.
The unexpected strength in the leading
English markets caught many local
traders short" who in covering COM
peted with new investors for the
moderate offerings, and on the bulge
May sold to 92Ac and July to SSc.
Rumors of a better export demand and
further reduced estimates on the prob
able surplus in Argentine We're pro.
ductfve of strength. also the advent OF
cold weather throughout the winter
wheat belt. New York reported 81 boat
loads. The domestic visible supply de-
creased 1891 900 bu, as compared with
$4,000 bu addition same week In 1913,
and now totals 71,352,000 blu, including
the bonded wheat in this country, or
$1,000 bu smaller than last year. Stocks
at Duluth increased $4,000 bu: Calves
ton, $4,000 bu: New Orleans, $4,000 bu;
Philadelphia, $4,000 blu, and Toledo, 49,
$50, 900 bu; Kansas City, 100000 blu;
New York. 423,0O bu. Local stocks
were reduced by 235,000 bu this week,
and are now 6,S95,OoO blu. or $4,000 blu
smaller than in 1913, European visible
increased 2,673,000 bu last week and Is
now S2,224.000 bu. or 6,424,000 blu larger
than last year, One year ago there was
4 decrease of SO0,0G0 bu. Local contract
stocks were reduced by $4,000 bu and
are 2,544,000 blu. or $4,000 bu smaller
than in 1913.
Western marketings this week were
smaller than those for the
period in 1913, and from
July to Jan. II totalled 233, 257 900 bu,
compared with 2s1.656,0O0 bu in 1912
13. Worlds shipments this week were
estimated at 11,500,000 blu, as against
actual shipments one year ago of IL
$4,000 bu. A good increase indicated
in amount on ocean passage. Argen-
tine shipped S4S,000 bu this week, COM
pared with 2,464,OOO bu in 1918.
Corn.
4 good general speculative business
was transacted under this head during
the week just close, and while senti-
ment was agar quite mixed the tone at
tho finish was firm and resting spots
were Ac higher for. the May and nc
for July. May rested at 66Bc bid and
July 65Hc Market was steadied at the
outset by less favorable weather con-
which caused freer buying by
shorts" and a modest advance in price,
the May touching $3.50, while the July
sold to 65H @65%c, around which
figures considerable selling pressure
developed, under (which the whole list
declined. Southwestern markets were
weak, the cash situation here and else
where being anything but healthy, and
domestic supplies were further en-
larged. The advent Of cold weather.
too, acted as a "bearish'' influence, as it
was expected to start up Smelling again
and increase the marketings. Despite
the low prices quoted in the east, ship
ping sales were light from day to day,
and the large local stock began to at
tract attention. Cash values here and
in the west" were extremely weak and
likewise had a depressing effect on
futures. A~good part of the selling was
Of the influential sort, and while
Shorts covered freely on the dip, the
decline was not checked until the May
Csc, July in the meantime SELL
ing off to 64hc. There were rumors Of
export sales Of domestic corn In circu-
lation the first Of the week. but they
could not be confirmed as the bids
were &c under May. The return of mild
weather over the west and southwest
was calculated to Curtail feeding de-
mands and the decline in hay values Of
late was looked upon as significant. The
report Of local crop statistician on the
of animals on the farms was
also against holders. The statement
showed considerable shortage in all
kinds Of live stock. A decrease of L.
1852 900 head Of cattle other than milch
COWS, or per cent was reported, A.
O82, 900 fewer hogs. or per cont, and
2 $4,000 less sheep. Or 5 per cent. Near
ly three fourths of the decrease in hogs
was found in the seven states from
Ohio to Kansas, which produce the
commercial corn supply, and one half
CT the cattle shortage was in the same
states. The market was helped at the
last by the less favorable crop advices
from Argentine. where locusts were
said to be causing losses in Cordova
and rains were said to be needed in
Santa Fe. The comparatively firm tone
of wheat. too, acted as a supporting
factor, but the selling on the bulges
was general and the rally was held the
market displaying good recuperative
power. May recovered to 66A @66ac
and July to 653sc on covering by shorts
the closing days. Liverpool stocks de-
creased $4,000 bu last week to 1881, 900