Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-06-16
CHICAGO DAILY
MARKET NOTES

pend entirely on humidity condltlons
In the dry belt. No concealment Is
made to the fact that over large
area Of Missouri and Illinois lot Of
water will be essential to checking
liquidation. So serious has the pasture
cor .dition become in some sections OF
Missouri that a number of cattle have
boon moved this week to the long
grass sections Of Kansas where the
May drouth has been relieved by
timely rains. If pastures revive supply
will be lighter than otherwise, as
there is very little incentive to cash
light cattle where feed Is available.
Last weeks hog receipts at the
eleven markets totaled $4,000. being
$4,000 more than previous week and
5000 less than year ago and the
seven-year average of corresponding
week since 1907.
IT is not to be expected that the
winter wheat crop will be harvested
and moved all at once, as the conser-
vative element in trade sees It, They
look for hedging sales to be factor OF
increasing weight from now on, but
they do not believe that all the i'm
mense crop is to be hedged in week
or two. They expect that there will
be a good demand for the early move
ment to fiji export sales, which they
claim should offset the effect of hedg-
ing operations The break Of 2A to
2kc the past week was regarded as
natural, and further declines are ex-
pected. although rallies are to come
from time to time following declines.
Bears say they expect July wheat to
sell at soc this month, and the radicals
think it will sell at 75c In July. when
the effect Of the movement is on. some
of the bears said the local short IN
terest has been cut down the last rev
days by bears taking profits.
Corn specialists call attention to the
change in the position of the south
western and Chicago market within
the past few weeks. Chicago was the
lowest market FOR months and the
southwest the leaders of the strength.
Now it IL the reverse which Is to be
expected at this season. Kansas City
and Omaha are the lowest. as the de-
mand has dropped OFF. as It generally
does at this season. One OF the most
careful corn traders says he does not
expect prices to advance much for
July above the present level, and he
secs nothing to put them down below
roc. Bulls say that rains should not
affect the July prices, although their
Influence should. be reflected In De-
cember The latter has declined csc
from the highest Of the week. and
July Inc.
An unsettled condition prevailed in
the cash corn markets Saturday, Chi
cago being @01c higher while st.
Louis and Kansas City were unchanged
to 1ac higher, Omaha a m1Ac lower,
Peoria A61Ac lower and Milwaukee
| 1c lower on mixed and lie higher on
white Country offerings We're small
and the eastern demand hacked snap
Demand for cash oats held UP well
in the face Of the easier market in
futures Sample valucs at Chicago.
Kansas City, Peoria and Milwaukee
were generally unchanged, while st.
Louis was weak and 1s@1e lower and
Omaha A@kc over.
Export business in new crop win
ters continues on fair scale, but
the advance in futures put bids some
what out Of line. local exporters gem
orally claiming they were 1a@1 c below
a working basis. Milling demand.
however, was Of good proportions, and
indications are for heavy decrease In
local stocks for the week. A bid of
INC over July FOR old or new No.
herd or red in transit was refused.
Receipts for next week are estimated
at $4,000 cattle. 100000 hogs and 10000
sheep, against 53.056 cattle. 1889
hogs and 96,071 sheep corresponding
week Of 1913.