The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-08-29
GRAIN, LIVE STOCK,
FINISH WEEK WITH
TOP QUOTATIONS
BY WILLIAM r. sANBoRN

Two years ago this month the gov
eminent was guaranteeing S226 Tor
No l northern wheat at Chicago and
it was bringing still more money onl
the sample tables. This resulted in
very free movement of wheat to all
primary markets, just as is happening
now, the amounts leaving the farms up
to the end of August being about the
same as the movement in 1921.
1t is estimated that farmers have al
ready marketed 2o0,00o,000 bushels of
wheat, and that 130,000,000 bushels
have so far arrived at central markets.
the rest being in country storage 10
come forward as convenient. This is,
10000, 900 bushels more than was mar
keted last year, and indicates the fl
nancial pressure farmers have been
under. Otherwise the low prices paid
for this crop would not have brought
out so much wheat, nor would have so
much corn and oats been marketed at
this summers price levels.
At the recent low point on wheat,
since which there has been some ad-
vance, wheat was % cents under the
range in mid-July.
Looking for Higher Prices.
Despite the heavy receipts the mill
ing and foreign demand have prevent
ed heavy accumulations. Exporters
are free buyers on all dips and millers
are doing a fair export business In
flour. This inclines the trade to look
for higher prices during the winter,
and particularly so after the Canadians
have exported the part of their crop
which presses to market. Much OF
the Canadian crop will be stacked and
will not move until next spring. With
a moderate wave of outside buying OF
futures the market could be readily
advanced, but the nationwide fight on
speculation has cooled the ardor of
spectators, and the only supporters
of prices, in the main, are the men
that so many have been trying to put
out of business.
What of the Farmer.
In the best informed circles the i'm
preston that we are due to see much
better prices on all grains, still per-
sists. Whether the farmers are to
reap any benefits of this, and in what
degree, depends upon how much more
of their holdings they will let go dur
ing this period of depression.
September wheat, now practically
cash, ranged at from $1.13k to S1.21h
last week. December wheat made a
low of $114 and a high of S1.23A and
both options closed at the top figures
of the week December corn had a
three-cent range for the week, the top
being SSH and Saturdays close 545s
December oats made a gain of two
cent sand closed at within Is of top
at 3S3s cents.
Hogs Close at Top
When the Chirap0 live stock mar
ket closed on Saturday the pens were
all cleared and the last sales of the
week we're made at the weeks top
figures This left traders in bullish
mood and there was manifest feel
ing that we should see still better
figures the first half of this week
This is somewhat encouraging, tbs
true, but we have quite hill to climb
before getting back to pre-loss levels.
For example, the weeks average
price at Chicago, at $S15, was 81 10
below the average for the week ending
August 20, and within % cents of the
low average of the year, some two
months ago.
Cattle Doing Some Better
Cattle broke badly the forepart Of
last week, also toward the end of the
previous week, so much so indeed
that call to reduce shipments was
sent broadcast on Friday. August 10
Receipts dropped accordingly ant
from last Thursday on prices stiffened
But even SO the average price dropped
to $50, which was 65 cents under
the average figure for the week end
ing August 20.
The pressure Of an over-supply o.
lambs last week cut the average price
for the week 95 cents per hundred
pounds, at Chicago, which condition
was reflected in all other markets
Poor to fancy calves ranged at from
SIS to a top of S13 on Saturday.