Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-03-05
MARKET NOTES

IT was the gossip of the wheat trade
last night that unless news Of radical
~ bulllsh kind is forthcoming, or the
export demand revives, prices were to
seek lower level and at the same time
July was to gradually close It's discount
under May. The trade seemed to be
impressed with the belief that some
strong interest is gradually getting out
of line, and believed that the outside
buying power had been nlled up for the
time being, calling attention to the fact
, , that the absorption at 94c for May
Yesterday was not az good as on the
previous day. and said that they would
not be surprised to see liquidation start
at almost any time. although values
would not get Ear from the present
level. as it would take but little buying
on the part of strong interests to cause
the local short interest to cover. The
latter was regarded as the largest for
some days past Bears are not LOOKING
for q crop scare to start until there has
Deen a few days Of growing weather,
and then 1t Is apt to he n small affair,
owing to the unusually large acreage
seeded last fall. Bulls re -arded the
setback as only temporary and looked
| for good buying power To develop on
any break to around 93c for May, and
laid considerable emphasis on the fact
| that bids for cash wheat from the eass
were caught on the decline yesterday 81
= + 4 q i
| A feeling of unrest prevailed in tho
corn trade yesterday, and a larger num-
! Der Of bears We're to be found than fol
some time past Many traders were dis
posed to believe that the leading bull
interest had sold heavily under cover
yesterday. They were generally regard
] ed. however as still having large hold
ings Bulls believed they saw increasing
evidence that the eastern demand fn,.
/ ur RI ns1A
in The immediate future. Messages tron,
! that section yesterday. which were not
given general circula ton, said pressure
Of offerings from the west were much
/ lighter. referring to interior points, BIT
bears said the demand, even should 1t
increase. would not be UP to the normal
spring trade, as the specter of Argen-
! tina imports was still before the east
! ern consumer. and would be for all
time. 4.-a
ids for hard winter wheat from Bal
#f'nbre We're caught on y yesterdays
break in futures and $4,000 bn sold.
| like amount sold for export Milling
sales here were $4,000 b,L Prices at st.
Louis, Kansas City and Omaha were
unchanged. while Milwaukee was un-
changed to TIC lower. Bncstem No. 1
i northern at Minneapolis sold ut laM2c
over May and velvet chaff at May price
to hc over.
! A better demand existed for casl,
corn ut Chicngo yesterday. sales beiis
100000 bu Country offerings were
slightly larger and to arrive sales ag-
! gregated $4,000 blu. sample values were
I unchanged to 1c higher. Kansas City
unchanged, Omaha unchanged ia, lie
I higher and Peoria and Milwaukee ~
1c higher. Minneapolis reported No. q
nf u IN wN
I May. n. u.
/ Cash oats were uncha nged to u c low
err yesterday with shipping sales OF
100000 blu. Milwaukee was Nc higher.
i Peoria 40 NC higher, Omaha re high
er and ST. Louis unchanged. w
Packing Of hogs in Chicago for the
winter season OF Nov. / to March T. a.
! complied by the Daily Trade Bulletin,
/, was 2,345,00O, against 1854, 900 the pres
I vious season. Average weight was 21A9
lbs. against 225.7 lbs the previous sea.
son, from which a yield Of 300 lbs lard
was obtained. against 31.6 lbs the last
:, season Average price was $500, or
4 47c above last season.
! Efforts to promote crop scare on
= winter wheat are meeting with poor
success. although the May-July spread
narrowed NC yesterday. A majority OF
II the traders were NOT disposed TO taxa
the buying side on reports OF winter
killing at this season. as there has been
no growing weather to date. and 1t will
be next to impossible to tell Of damage
until there is.
i A message from "a central Illinois
/ grain dealer said they were buying but
little corn and that the demand from
feeders was good. There has been good
demand, the message said, from the
south and country elevator stocks in
central Illinois sections are light. (,
4 ST. Louis reports said that crop con-
ditions generally were reported favor
able. Kansas City and Omaha forward.
ed few bad reports, but In the main
the general outlook for wheat is regard
ed as favorable. Oklahoma conditions
are excellent.
|, COPIES OF ELECTION
: LAWS ARE SENT OUT
i Des Moines, March 3.--County audi.
tors Of the state will today receivs
copies Of the general election and prt.
I -. "a - az. -.