Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-01-24
OTTUMWA COURIER, SATURDAY, JANUARY "a, .lyl4
MARKET NOTES

Export business in corn was reported
yesterday. the first on the crop. but
bulls derived little comfort from the
sale. The trade ha da strong tip that
some business had been closed, and
bought futures freely on it, but the sale
turned out to be two loads Of mahogany
corn sold about two months ago at 4Sc
and loaded yesterday. There were\how-
ever, bona fide bids here for the real
article within iac Of a working basis.
but the bulge in futures prevented any
thing being done. A cargo Of Argentina
corn was offered yesterday for prompt
shipment at 6Slac c. 1. f. New York and
for May shipment at 66lac.
Over 1000 horses were on sale this
week. Farm chunks remain in best de-
mand, with geldings bringing from
s1.0@19O. bulk around s165 and mares
s10@20 higher, with selected stock at
$210@225. Near drafters sold up to 1855
in the auctions, but no really heavy
horses of high class were on sale.
Sales of. feeding and breeding cattle
Mt the Denver Stock Show yesterday
and shop talk" among the leading beef
producers Of the country. many of
whom are now gathered there, indicate
that western cattle producers and corn
belt feeders have lofty ideas Of future
values, stiffened by recent sharp ad
vances on the Chicago market. Sales
of feeding steers completely outstripped
the record prices paid at the Denver
show a year ago. The reserve champion
feeders, Angus calves, sold to A. w.
Bragg, Tuscola, Ill.,. at $3.50, the high
est price ever paid anywhere for feeder
cattle The load averaged 6O2 pounds.
Tie first eleve cars through the ring
brought an average price of $3.50 per
cwt NJ. X. Parsons Of Utah paid $140
around for a carload Of pure bred
Hereford bull calves, and there is phe-
nomenal demand for breeding stock.
Seventy head Of pure bred Shorthorn
breeding cattle sold for an average Of
$685..
Wheat traders might easily be per-
suaded to work more enthusiastically
on the bull side, is the view taken by a
number of the careful operators who
have studied the situation closely Of
late A county Of the commission houses
last night showed nineteen out Of
twenty five were bullish. Technically
this is considered by many traders as
against an advance. At the same time
there We're more important factors Of
a bulish nature presented than the
trade has had of late. A Liverpool mes
sage said European requirements from
now on will be 100000 bu more than
last year, while Argentina and India
will have 100000 bu less to export
y
largest buyer Of wheat yesterday was
a heavy seller Of bids last night. 1t was
said that export sales were larger than
reported and that had 1t not been for
the advance, a heavy business would
have been put through Bears were not
disposed to admit that the improve
ment in speculation in securities APP
piled to grains, while bulls asserted that
an easier money market and an ad-
vance in stocks, or anything that ere
ates a speculative sentiment, will In the
end help the grain trade.
Sentiment in corn was not so unani-
mously bearish last night. 1t was the
general belief that there has been heavy
covering the past four days, as it has
been difficult to trace the buying, while
selling has been open and not one trad
er out Of ten has been able to tell where
all the millions of bushels Of corn sold
OF late has gone to. 1t was the popular
belief that prices for the present will
depend upon the cash situation. Should
that improve and prices harden. bear
ish sentiment will be checked and
there is a belief in certain quarters
that there is an immense short interest
that will not stand much punishment.
Those who are bearish contend that
July corn should be sold on any bulge
from this level and the bear leaders
are especially in favor of It.
Sales of 10000 blu. hard wheat sold
to the soaboard yesterday. details Of
which will be found in another column.
Milling demand assumed larger pro-
portions, shipping sales at Chicago ag-
creating $4,000 blu. including $1,000 blu.
spring There is little pressure Of
wheat on the market, is Offering very
little. Hard winters are held with in
creasing firmness, due to the export
demand and there were claims that it
had advanced &c in store as compared
with futures.