Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-03-07
acter Feed is abundant there and going
to waste, and beef could be made
cheaply.

acter. Feed is abundant there and going
to waste, and beef could be made
cheaply.
Sentiment after the close was almost
unanimously bearish on wheat last
night-in fact, it was so one-sided that
number of close observers were in
clined to look for rally from any
further break, especially as the gov
eminent estimate on farm reserves
would be. issued at 1:15 p. m. Satur-
day and there would be general even
ing up previous to it's publication. Few,
however, could see little in the situa-
ton that warranted more than tenn
porary upturn, as with the growing
crop in good shape and large acreage
they believed that reports Of export
sales were losing their effect and the
prospects for the new crop would be
the dominating influence. A fair ex.
port business was put through yester-
day, Duluth, Winnipeg. Omaha, St Louis
and Kansas City all making sales, and
while the trade had rumors Of them the
failure to get definite quantities caused
them to have little influence on the
market There is good authority for
the statement, however. that the aggre-
gate was larger than the trade antici-
pated. A cash handler who has been
moderat ely bullish on the old crop sit
uation called attention to the improved
milling call, sales of $4,000 blu being
made here, the largest in some time,
in addition to which st. Louis sold 90,-
900 bu red winter to mills.
Gossip among corn traders last night
was generally bearish, few believing
that the market would have more than
minor upturns until the long expected
cash demand materialized, and num-
Der had strong doubts of it ever COM
ing. July and September were the
futures most generally commented on,
and had fewer friends than the May.
The latter is regarded as a domestic
proposition and would quickly reflect
any change IN conditions in this coun-
would be arriving at the seaboard dur.
ing July and affect that delivery adj
.versely, while September was regard
ed as selling about 10c too high, as by
that time shipments from south of the
equator would be very large, and,
should much Of the grain be headed to
this country it would have q demor-
alizing effect on the east. Bulls had
it that eastern cash demand was bet
ter than anticipated, that the move
ment was about to drop~off sharply, as
farmers would soon be getting at their
spring work, and that the outlook for
the new crop in this country would be
engrossing the attention of the trade
by the time July came around
Canadian oats are being pressed for
sale in the east, and local elevator
concern recently bought a cargo now
afloat at the head of the lakes for ship
ment to Port Huron at the opening OF
navigation. There is a cargo Of 299, 900
bu Canadian oats, in bond, now afloat
at Chicago, which are said to haye been
offered east on an all rail basis.
Government grades Of corn will be
used by the Illinois state grain in
spection department. commencing July
/, 1914, the public utilities commission
having adopted them yesterday. The
rules now in effect for grading will
apply on all corn in store in public
elevators in Chicago prior to July I and
October 1 of this year. On corn APP
piled on contracts made prior to July 1
for delivery during ninety days sube-
quent thereto the grades and inspec-
tons may be in accordance with the
rules and grades in force at the time
the contract was made. At no time
shall corn be inspected out Of any high
er grade than 1t was inspected in.