The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1916-11-16
Late Market Quotations

I Furnished by Long Commission Co.,
1903 Main st. Telephone No. 350-351.]
CHICAGO, Nov. 16.-Wheat-Under
normal conditions the wheat that
reaches Chicago comes largely from
northern and western Indiana, central
and southern Illinois, Missouri and
Iowa, occasionally car of spring
wheat from the northwest and some
transit wheat from west of the Mis-
souri, river. This year not only are
ten states distinctly represented in
Itinct crops. White from Washington,
hard wheat from Montana, light
spring wheat from the Dakotas and
Minnesota and the miscellaneous as
sortment from the other states. all of
which are easily tagged, give evidence
of the general impression throughout
the country that Chicago can handle
anything. 1t would be difficult from
this assortment to build up any stock
of good contract wheat, and we are,
possibly, fortunate in having fair
quantity of old crop wheat in public
Elevators carried from last spring. 1t
is not unreasonable to expect that this
old wheat will be moved out as rapidly
as it comes into the possession of dis
ftributors. In view of this stock OF
lold wheat, cold weather is very wei
come to the elevator operators. Once
present stocks are materially reduced
by shipment, it is likely to be extreme
ly hard to accumulate fresh supplies
to be made available for delivery on
contracts in Many. In the meantime,
clearances are likely to demonstrate
city of wheat for domestic consump-
ton.
Corn-A year ago statisticians were
very busy figuring that from the crop
which the government estimated at
over three billion buhels, there were
only about 2,30O.0o0.O0O bushels of
corn on feeding basis. This year.
with prices materially higher, they
make the comparison only on the
bushel basis and try to justify bull
ish position by saying that we are
nearly 400, 100000 bushels short Of the
crop we raised year ago. We believe
| the quality of the new corn arriving
! justities the assertion that we have
raised more corn than last year on O
feeding basis. but are we on the same
| feeding basis? Bankers are reported
as discouraging the feeding Of live
stock, and farmers are showing de-
lcided tendency to market light and
thin hogs. Not the amount Of corn
that is raised to market light deter
mines the price. but the amount that
comes to market, adjusted to the de-
mands While normally from Is to 20
per cent OF corn leaves the farm, we
believe that this year from 25 to 40
per cent could easily leave the farm.
While we shall probably export more
corn than usual, the amount so used
| is not likely to Offset more than a
email portion Of the excess marketing,
If present general levels are maintain
ed during the winter.
Oats-An editorial in the Price Cur
trent is authority for the statement
that more grain than ever before is
insured on the farm. The inference
there drawn that this is largely to COW
er wheat. Farmers having good stocks
Of old oats market freely not only their
old oats Of poor quality, but large
part of their oats Of good quality.
This heavy farm movement has given
JUS an unusually large visible supply,
| has created a good carrying charge
and stimulated a good export business,
which clearances during the balance
of the crop year will confirm. Oats
more than ever, will be a human food
lboth at home and abroad, due to the
high prices for wheat. We are inclin-
ed to believe in oats values whenever
they may be temporarily depressed.
| Grain Review.
| UNITED Press Leased Wire Service
CHICAGO, Nov. 16.-Wheat opened
steady and advanced on later buying.
The market showed confidence, evil
IDENTIFY believing that requirements
| f4p tn, will IN
heavy despite the attempt Of the gov
eminent to curtail consumption. De-
cember was up 2. at 1907; May un-
changed at 1913; July down "a at
1914.
Corn showed gains on good buying
with December up " at SO 6-8; May
up n at 9S1k.
Oats were slightly higher Decem-
Der was up Is at 58ss; May up Is
at 62%.
Provisions were steady.
Chicago Estimates for Tomorrow.
| FURNISHED by Long Commission Co.,
403 Main. Telephone No. 350-351.
Hogs, 10000: cattle, 1900; sheep,
10000; wheat, So; corn, 100; oats, 159.
Liverpool Close.
/ Wheat, unchanged; corn, 1914 up.
ciearances.
| Wheat and flour, $40, 900; corn, 49,
| 600; oats, 100000. d
Northwest Wheat Receipts.
| Minneapolis, 800 cars: Duluth, 70
cars; Winnipeg, S04 cars.
| Chicago Cash Grain.
| CHICAGO, Ncv 16.-Wheat-No. 2
hard, $1,000 @1.97; No. 3 hard, s1.S
@1.86; No. 3 spring, s175@1.76H.
Corn--No. 2 yellow, s1.05; No.
yellow, s1.01k@1.03; No. 4 yellow,
s1.00@1.01; No. 5 yellow, 99c@$1.OO:
No. white, s1.021e; No. white,
S1.O0@1.01; No S white, 97hc; No.
8 mixed, s102@1.03; No: 4 mixed,
| $1.00@1.01; No. 5 mixed, 97xc
Oats-No. white, 571a @5sAc: No
4 white, 57@57Mc: standard, 5S@59c.