Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-12-15

done. The transactions We're based upon
the changes in the May delivery ana
ranged at various discounts from that
future dependin gon the grade. Quota
tons, however, remained for the most
part nominal, especially for choice
northern. The receipts were light and
consisted mostly of the undergraaes
and mixed lots--very few cars OF choice
high grade wheat We're received. MOS.
Of the receipts-especially of good
wheat-found buyers at the dairy es-
tablished prices, but poor wheat was
slow and only salable at liberal DIS
counts from choice. Millers nave takei'
very little spring wheat past week. ne.
ceipts for the week 103 cars, against oo
cars the previous week.
Regular wheat closed UP quite steady,
with December showing Ac gain ana
the May a decline OF NC compared with
the resting spots OF last Friday Tratie
this week was little on the spasmodic
order and the market nervous ana sen
sitive, with sentiment on the wnoie
hardly as publish" as recently hoted,
The market started out quite frm. pc
ing helped to great extent by tue
''bullish" foreign advices, enormous
clearances and additional large sales TO
exporters. The decrease in the visible
supply was also minor "buli neip.
December advanced to $1.17fs,. whiie
the May sold to $1.22ss. Around these
figures were was much liquidation ana
profit-takinE by holders, and In add
ton considerable sellin for short &C
count by local professionals. Inc
breaking Of the drouth in the southwest
and most Of the west and central west
continued liberal recetps at domestic
distributing centers and more favoraDie
weather conditions in Argentina lor
I, He v,nx we're among
the factors which tended to discourage
holders. Foreign markets took on an
easier tone and on the decline the De-
cember touch $1.14A, while May Went
to S1.19Z. Routine statistics We're gen
eraily regarded as "bearish." World
shipments were very fair. North Amer
lea shipped a,O24,0O0 blu. or the above
Canada shipped $4,000 and the Pa
cific coast 1,141,0O0. Shipments 10 ltaiy
were 2,796,00D bu and a cargo OF w.
900 bu was shipped to China from New
Orleans.
Sydney, Australia, cabled that the
legislative council has ratified the pm
empowering the government to buy the
whole Of this years wheat crop OF New
South Wales at IS ($1.22) bushel. A
normal crop in New South Wales Is
35,000,OO0 blu and Of all Of Australia
100, 900 900 blu, of which 100000 bu is
exported, mostly to England, but this
year the crop is SO short that some
wheat has been bought IN the uhlteo
States for shipment toiAustralla.
A dispatch from Russia shows that
the decrease this year shows 2,lll,ooo
acres from that of the preceding year.
CORN--A little more interest was
displayed in the market during the past
week and trading was somewhat Droau-
er. Sentiment was very much mixed,
but the late tone was steady with the
close showing the December on &c
while May lost LIS. December rested
at 62%c and May Csc asked. Trading az
the outset WIS somewhat restricted ana
mainly local owing 10 the crippled wire
service and the feeling prevalent was
comparatively firm. The strength was
based chiefly on wet, unsettled wealth.
er over most OF the corn belt and
stronger tone abroad. Values for
time tended higher, the December SELL
ing up to SAC, while the May touched
G9kc, around which figures there was
quite general liquidation by longs" as
we'll as selling for short account. Re
ccipts were large but country sales
were smaller and consignments only
moderate. Local buyers. however, were
fairly well supplied and the eastern
call was lacking, due in part to wire
troubles. Some little export call was In
evidence, but the actual business con-
sumed was small until the decline later
In the week. Receivers and warehouses
sold a little December in the way OF
hedging early and later cash and ship
ping concerns were buyers, but with
the sale OF 100000 bu contract to go to
store the price broke to inside figures
the December reacting to SIC and the
May to 6SAc, the spread at one time
rorn3ntS Qnnllm1l.
lating stocks, and wheat decline We're
among the weakening factors. Fail
support developed on the break and
moderate rally was scored later on, the
market being strengthened to some ex-
tent by the continued wet, unsettled
weather, advancing tendency abroad
and some betterment in the foreign de-
mand. Part Of the buying was credited
to the southwest and local Shorts
came in on the advance, the December
rallying to 63hc. and the May to 69Ac
Consi gnments were reported as falling
off and country sales very small. New
Orleans and Memphis down state were
said to be higher for export and south
ern distribution than those from Chi
.cago and receipts were expected tc
shrink perceptibly the next week or ter
days. Scattered liquidation by holders
occurred at the higher levels reached
the decline in wheat values affectlne
the price to some extent and December
sold off to 69Ac. while May declined t.
68N @63Bc. Liverpool displayed .
strong tone most of the week, stocl
there being down to 100000 bu against
s,O27, 900 blu year ago. The following let.
ter was received from Liverpool
house: I'VE cannot anticipate a Euro.
pean demand for American corn unles.
something happens to the growing Ar.
'gentina crop, which has made q goot
start. Any signs that America is press.
ing to export corn would cause sharI
decline On this side, SO long as thu
Germand demand is effectively cut off
Argentina seems well able to suppl,
European requirements and 1t is only
the dear freights and the absence of the
Black Sea competition that is holdins
up the prices
Western marketings this week were
much larger than those of year ago
and from Nov. to Dec. s total 32,699..
900 bu compared with 17,414.000 bu II
1918. Clearances this week were $780,.
900 bu and since July foot up 4,127,O0t
bu against 1,o47,O00 bn in 1913. Re
Iceipts here this week 4.741 cars
against 1904 cars last week and 70:
cars one year ago.
n On; -, 81 a.,