The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-09-19
FREE SELLING BRINGS
WHEAT PRICE LOWER;
HOGS GO DOWNWARD
Ely WILLIAM r. SANBORN

can exporters and from foreigners de-
creased during the past week, and
prices slowly dropped from day to
day. One other reason for this de-
cline is the free marketing of spring
wheat in our domestic markets, the
rush season still being on in the
northwest but is due to slacken
shortly.
The outstanding facts in regard TO
/ the export wheat situation are: First.
having q tariff wall between this coun-
try and Canada, there is an increased
rush of exports from Canada to Eur
ope, as northwestern millers have
been in the ahbit of bringing in lot
of Canadian grain for mixing purpos-
| es. Moreover, the Canadians have
| been offering flour, duty paid TO
eastern consumers little under
prices quoted by our own millers.
| Again, the grain and flour trade
| have been sending depressing reports
| from abroad. 1t is in their own inter
est to do this, in order to buy as
| cheaply as possible. Right now there
| seems to be concerted effort 10
weaken prices on this side, and the
trade is rather skeptical of many or
| the reports.
! FORCED sales OF wheat
1t is also a fact that many of our
exporters shipped wheat abroad, for
sale on arrival, or afloat, and SO many
cargoes came in on that basis that
we practically broke, our own market
and much of this wheat has recently
been sold at loss to exporters. This
has encouraged European buyers 10
believe that they will be able to
secure all the grain needed for this
crop year at reasonable prices.
Half Our Surplus Sold.
| AS a matter of fact We have already
shipped or sold for export 1OO,0O0,0ot
bushels of our 1921 surplus, and there
lis danger of over exporting, so ina
I we may have to import from Canada
before the next wheat crop is aValia-
lble. This means that our wheat mar
ket is in a strong position ana man!
of our largest grain handlers are look,
= ing for higher, instead of lower prices
' Difference of opinion is the basis ol
: all speculation. From purely status
teal viewpoint the bulls have the besi
Of the argument They were mora
: strongly intrenched a few days age
t however than now, as drouth was
Y then prevailing in Argentina.
I OONAA
try begin marketing their wheat croI
2 at a time when our own winter whea
: lies buried in snow.
$ Puts and Calls Barred
1.-THE farmer has been right in hi!
contention that puts and calls, or daily
> and weekly 'indemnities' should bt
!. prohibited" is the opinion of many
L traders on the Chicago board. Thest
4 Id hnny1 .
e bone of contention in the board o
/, trade directory and the cause of mum
g erous votes. Under the recent ruling
q of the board these will be done ava.
It with on Oct. l. The law recent.
l. passed for the government Of al
boards of trade dealing in futures
e prohibit such form of trading.
= Range of Prices
v The range of prices on wheat at CHI
n cago last week was as follows; Low
It on September option on the week
s. S1231a; high. 1.31. December whea
. ranged at S125A to S134A, Will
IS May wheat made a top of S1.39. A
tops were about 8 cents under tn
high spots of the week ending Sci
TENDER 10. The low points of tn
week were made on Saturday.
Hogs and Cattle
The fact that shipments Of lard ii
creased 18157,000 pounds last weeI
a compared with the same week in 1925
\ supported heavy hogs at Chicago
Heavy and mixed packing hogs close
the week but 10 to 90 cents lowe
than on the previous Saturday Will
.. light hogs scored a drop of So cent
d at the week end, after selling sti
y lower during the week.
The better grades of cattle close
10 strong at Chicago on Saturday, wit
" undesirable kinds % to so cents o
n on the week. Lambs were from so
70 to 81 higher than on Saturday, Sep
n 10.