Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-01-20
BUSINESS IN COMMERCIAL CIRCLES
IS CLASSED As FAIR FOR PAST WEEK

buyers the wheat being bought and
sold again in the speculative market.
Local millers however, bought part of
the receipts. Stock in elevators made
only slight changes the past week, but
the stocks of No. / hard and No. l
northern are conspcuously small COM
pared with a year ago. Receipts were
moderate. The stock of No. | hard and
No. ] northern in public elevators was
reported at $4,000 bu, against $4,000
bu the previous week and 2,o56,0 900 bu
a year ago. OF all other grades there
were $4,000 bu, against 10000 bu the
previous week and 5000 bu year ago.
No. l northern in store was nominal.
Track lots of No. l northern local bill
ing was quotably u ole under May
and ranged at 901s @92c, with an oc-
casional transaction. No. northern
| track lots ranged at S9@901ac. NO. 3
northern was quoted at S7@S91ac Tor
fair to choice. No. northern ranged at
S3mS7hc for poor to choice.
REGULAR WHEAT--Closed up
steady with an advance for the week Of
1kc to IL M1ssc. Trade was OF fair
| volume and sentiment more publish
than otherwise and while prices We're
irregular within moderate limits the
tone at the finish was quite steady.
"Bullish' influences were more numer-
, Gus than "bearish and the opening
| strength. due to a little furry among
, local spectators who sold short last
week and who were frightened by the
cold wave over the unprotected WINTER
wheat fields and by the strength of the
! Liverpool markets. 1t did not develop
until later that there had been very
large sales Of cash wheat here Satur-
| day to exporters and that an advance or
! 12c in cash prices was necessary 10
! check further sales abroad and this
| fact likewise tended to encourage in
| terests with bull views. The enor-
nous exports reported on Monday, L.
| 100000 bu. also acted as bull factor,
! as also did the light marketings in the
| American and Canadian northwest. The
fact that American markets were prac-
| tically on an export basis led to a great
deal Of buying by local professionals
while the speculative offerings were
compare lively small, and before the up
| turn was checked the May touched
92Ac and July SSc. The failure OF the
! English markets to sympathize with
the rally here and large addition report
ed in the worlds supply of breadstuffs,
longs" under which the May reacted
to 91ssc, while the July touched S7&c,
around which figures the buying was
| of a good class and the market aga n
/ assumed a strong undertone. Liverpool
ruled lower despite the publish" Argen-
, tina and Australian news. direct
Sydney cable estimated the eXportable
! surplus Of Australia at 50,000,000 blu, or
| 10000 bu less than exported in 1913,
while an Argentina correspondent re-
duced his estimate on the eXportable
surplus to 100000 blu, due to recent
unfavorable weather, a heavy reduc-
ton. A SHARP. revival in the export de-
mand. with sales Of 100000 bu at KAN
sas City for direct export and sales
here and at Omaha to seaboard export
| ers, likewise had publish" effect on
the market. On the bulge the May sold
to 93hc, July SSA 0DSSkc. Foreign crop
reports the past week We're favorable,
| BrOOmhall's summary saying that in
! the United Kingdom, France, Germany,
| Russia and italy good weather prevails.
| The poor quality of the French and
| Italian crops necessitates buying for
eign grain for mixing purposes. Cen
eral rains have fallen in North Africa,
which has been complaining Of drouth.
Some complains are heard from Rou-
mania and Bulgaria of irregular growth,
weather being cold. with part Of the
crop unprotected by snow.
The crop outlook, however is gener-
ally favorable. Interior movement is
very Lat. incident upon the holidays
! and the Impossible roads as a result of
snow. Port arrivals are light and
|
| tically at standstill in spite of low
freights.
| CORN-A large general trade was on
in this market during the past week,
and while the feeling was greatly un-
settled and prices irregular, the tone at
the finish was heavy, and resting spots
| nc higher for the May while July
gained only nc. May closed at 65Mc
and the July G47sc. The situation at the
| ant of q nd htlS- ~
good class and based principally on the
advancing tendency abroad, strength in
wheat, and the belief that the severe
weather prevalent over the entire belt
! would greatly increase the COnSump-
ton, Receipts. too. we're smaller. and
country offerings lighter and likewise
! tended to impart strength to the situa-
! ton. At the advance and around 66A M
| G6%c for the May and 65hc for the
July, further pressure developed, the
selling being led by warehouse inter-
| ests and bear leaders, under which
! the first named delivery declined to
| G5Ac and the latter to G4kc. The lib
eraI addition to the visible supply as
well as local stocks, further arrivals OF
Argentina corn at Atlantic ports and
poor merchandising conditions all
counted against values and led to con
| siderable liquidation by local ."longs
| There was in addition considerable
| selling here py southwest interests, the
| "bearish" tone there being due to the
! slowing up in the demand from feeders
and lower cash values. Samples OF
! Danubian corn were received here from
/ New York. Monday. 1t closely resem-
! bled that grown in the United States
| especially that in Minnesota and Sout,
! Dakota. It is of the dent variety and
good enough to grade contract in Chi
cago. Small purchases were said tc
| have been rnade OF this corn to come &c
! New York last week. Foreign as well az
domestic statistics "bearish." The
worlds shipments were 4,75S 900 Blu. as
compared with 2.501 900 bu one week
ago, and 3,665.000 bu in 1913. Quantity
on ocean passage increased 1.552, 900 bu
and is now 15.216,000 blu, or 1906, OOC
bu smaller than on same date last year
! Danubian ports shipped 100000 bu;
last year 1900 blu.
Seven boats, carrying about 100000
/ bu Of corn, are now enroute to New
York. Liquidation by longs caused
the late decline, the May declinina
again to 65 nc, while July touched 64aa
| GDG4Mc. Receipts at Chicago for the
week were 1.1SS cars, against 2,O8G cars
last week and 1884 cars one year ago