The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1916-08-29
Late Market Quotations
Long Commission Co. Grain Letter.

4 Furnished by Long Commission Co.,
4O3 Main. Telephone No. 1901
CHICAGO, Aug. 29.-Wheat-A de-
crease Of practically 100000 bushel in
the worlds available wheat supply
during the last week was reflected in
heavy buying for foreign and export
accounts in all North American mar
kets. The effect of this buying was
especially noticeable in Winnipeg.
which led the advance in our mar
ket throughout the morning. Sent1-
mental influences which were SO effec-
tive yesterday. were not regarded SO
seriously after sober thought over
night. The trade realizes that Rus
sian supplies are not large. after two
years of limited acreage and heavy
loss of supplies from exposure. 1t Is
also true that the task OF opening
up an outlet for Russian wheat is q
very serious undertaking and will
probably require more time than gen
orally expected. The fact that the
is far below consumptive require
ments will continue to be support
ing factor.
Corn-When wheat opened strong,
a badly oversold condition became
apparent in corn, prices quickly re-
gaining about one cent and holding
the advance well. Heavy liquidation
at the opening was readily absorbed
and both cash and commission houses
buying was large on the way up. The
crop is very spotted and the Septem-
Der government report which will be
out in about ten days. will probably
show some reduction as compared
with the prospect in August. Buy
ing on sharp breaks is advisable.
Oats-Liquidation in oats continued
for a short time after the opening, but
the market absorbed it well and by
midday, averaged nearly cent
higher than yesterdays close. The
reduction in the yield in the north
west and in Canada and the proba-
bility of foreign demand in excess
of that of the two previous years of
the war are bullish factors which
should not be disregarded.
Grain Review.
CHICAGO, Aug. 29.-The wheat
market had apparently recovered
from the panic of yesterday when 1t
opened for business today. First quo
tations indicated uncertainty. Sep
TENDER wheat was up 4. but Decem-
Der was down y and May down is
Later, prices braced all along the
line. The trade realized that Rumania
wasn't moving toward the Dardanelles
and Russian wheat was still far away
from American competition. At noon
prices had jumped from 3ss to 3x
cents over last nights close. Sep.
TENDER at 144h was 3t above the
opening. December gained four cents
NJ
,, No fortunes changed hands in yes.
terday's sensational wheat drop. &C
cording to pit traders.
, Most of the unloading they said
was done by pyramiders who bought
| at $3.50 and were holding it to sell
at Sits.
When the prices started tumbling
they decided to take a paper loss and
collect profits while they could. There
were no big traders dealing in the
market yesterday, brokers said.
In corn there was a slightly lower
range at the opening. after which
prices rallied with wheat. September
was up IN at sos; December up ! q
at 1875; May up 1ss at 76ss.
Oats followed the trend Of the other
grains. September was up II at 40;
December up one cent at 47&, and
May up ~ at SIN.
Provisions were higher.
Chicago Estimates for Tomorrow.
FURNISHED by Long Commission Co..
403 Main. Telephone No. 1901
Hogs, $4,000; cattle, 10000; sheep
1000; wheat, 200; corn. 1877: oats
3S6.
liverpool Close.
Wheat, weak. 6qs lower; corn. 1G2
lower.
Ciearances.
Wheat and flour. $4,000; corn,
lat 600; oats, 5000. -
Northwest Wheat Receipts.
Minneapolis, 26S cars; Duluth, 267
cars: Winnipeg, 345 cars.
Kansas City Cash Grain.
Furnished by Long Commission Co.,