Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-07-28
The Courier's Markets of the World

west and southwest were Of enormous
| and quality excellent. Coasre grains
proportions. Yields reported liberal
In moderate supply west and south.
west. Further fears of serious trouble
among western railroads fastened
shipments In some localities. Locally
| receipts were unusually heavy Of
wheat and moderate of corn and oats.
Shipments eastward were very large
and arrivals at the seaboard continue
liberal.
Quite an active speculative business
| was transacted in the leading grain
markets ON change during the week
just closed, and more interest centered
about the market for provisions.
Wheat was actiNe and somewhat un.
settled the tone at the last being
steady. The market at the outset was
influenced considerably by the persis.
tent reports of black rust damage from
the northwest. In addition there were
conflicting advices from Canada, some
maintaining the Canadian northwest
| would have q crop much smaller than
a year ago. Dry weather In southern
Saskatchewan and Alberta was said to
have cut down the prospects material
~. Foreign news meanwhile was also
| very "bullish," prospects being for
very large requirements abroad, and
the offerings from producers in this
country showed signs OF q sharp falling
of. Country sales to this and other
terminal markets were smaller, and
Shorts" became uneasy. At the high
err levels established, there was profit
taking by holders and part OF the ad-
vance was lost. The corn market
showed at the outset considerable
strength, offerings being light but the
bulk of the buying was OF local char
acter. Danubian offers were heavy and
minimized the publish" plate reports.
Rains fell in Missouri, Kansas and
, Oklahoma, but dry weather prevailed
in other sections of the belt and prov
ed "bull' factor Reactions follow
ed the early bulge, but market closed
fairly strong. Oats were strong mainly
in sympathy with other grains, but
there were unfavorable reports In re-
gard to Nebraska conditions. and there
was not a great deal OF hedging pres
sure on the market the first of the
week.
er the past week and higher range
of prices was established. At the start
there was slight decline OF about NC
! This was followed by an advance OF
2h @3c, and then followed again
slight decline. Trading has been &C.
tive. There was not so much business
in a shipping and export way early IN
the week, but was heavier later.The
receipts were liberal, and there was an
active demand for all Of the fresh ar.
rivals. Most OF the wheat was wanted
to fill previously made sales for snip
ment. Receipts were larger. but the
stock in public elevators did not In
crease to any extent In fact the supply
in the public elevators was next 70
nothing, but in private elevators stocks
increased about 100000 blu. In order
| to flll the export sales which were
made for this month and next month
shipment, liberal receipts will be need
ed The reaction from low level was
! partly due to very limited quantities
remaining in store, and partly to spec.
ulatiye influences and to the short
interest in July delivery becoming
frightened and wanting to cover. the
premiums paid for cash over July have
been we'll maintained under the exist
ing competition.
Spring wheat trading has again been
very light the past week and prices
little better than nominal. Very small
receipts prevented larger trading A
fair demand existed. and the few cars
received met with fair demand. stock
is well reduced. and this enables hoId-
ers to gain good premiums over the
prices ruling for winter wheat. II VIII
be several weeks before new spring
wheat will be available. and by that
time the supply will be exhausted. Re-
ceipts for the week aggregated cars
as compared with II cars for the pre-
ceding week. Withdrawals from public
elevators were 1906 blu and from pri-
vate warehouses cars and no bushels.
In regular wheat black rust and
blight in the spring wheat fields of the
northwest have cut quite swath in
the matter OF price making during the
past week. Those who q week ago re-
fused to believe the reports sent out
Of the spring wheat country on deter
ioration have changed their minds and
many Of them have not only covered
their outstanding short contracts, but
thew have taken on "rpng' wheat In the
expectation Of securing profits before
another week rolls around. 1t Is now a
matter of weather in the spring wheat
country, and in case the temperatures
ascend to higher level, the damage
from rust and blight will be more pro-
nounced than that already reported.
The bulls in wheat contineud to hold
the whip hand during the week, and
prices closed at advances Of 1& @2Hc.
The estimates formerly made on the
spring wheat yields in both our own
northwest, lis we'll as for the western
provinces Of Canada. have been reduce
ed 1t is said that while the prospective
losses in the two Dakotas and Mime
sofa have been larger than many ex-
pect, that when the final reports are
issued there will be an average crop
nevertheless.
AS a partial offset to unfavorable
crop prospects in the sping wheat
country may be mentioned the most
excellent threshing ,eturns from many
sections Of the winter wheat belt. AS. an
illustration, message received here
from Manhattan, Kans., said that
farmers report threshing returns from
30 to 50 bu per acre, and that 40 bu was
not uncommon. While the primary re-
ceipts exceed those Of year ago very
largely, the wheat now coming forward
is principally grain that was sold some
t;v,oa , <ro and 1rbipb In NOW hnfnD shin.