Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-10-21
GRAIN VALUES
SUSTAIN GAINS
Scant Offerings and a Better
Export Demand Factors.

CHICAGO, Oct. 21.-Grain prices went
higher on the Chicago Board of Trade
today because OF scant offerings and in
crease in the export demand. The higher
trend of the market was also taken to
be a reaction from the slump that has
been in evidence all week.
Provisions were Irregular.
December wheat opened up 1c at S105
and closed Be higher. May wheat opened
at $1.19, up 1Ac, and closed 21ac higher.
December corn opened at 1920, up nc,
and closed up PC. May corn opened az
51%c, up &c, and closed CSC higher.
December oats opened unchanged at
325sc and closed UP 9sc. May oats opened
at 1850, up 1sc, and closed &c higher.
(By Thomson & McKinnon)
Oct. Ii
Wheat--The wheat market has shown
reactionary tendency since yesterday
morning. 1t has come back sharply
ton. ,this has been helped today by
some export business, there being seven
cargoes of Manitoba reported sold to
Itaiy and about 100000 bushels sold early
today to Spain. a significant trend IS
shown today IN decrease Of the Kansas
City stocks Of wheat of 316,0O0 bushels
so far this week. And since Monday,
Baltimore wheat stocks have decreased
strong disposition by Canadian farmers
and dealers to hold their wheat and the
farmers are reported as putting the
wheat in elevators and taking storage
tickets for it without selling II. They
made % to 10 cents a busheI last year
by thus holding and getting that much
advance and premium for their high
grade wheat The strike situation seems
TO have hurried up the toIr demand with
liberal sales during the past week
through the decline and this has made
buyers of cash wheat and futures Of the
millers. The Modern Miller says that
much wheat Will have to be re-seeded Ill
the Southwest, because of failure to ger
inmate on account of prolonged dry
weather. This condition involves tho
heavy producing sections of Kansas and
important areas in Oklahoma and Ne
braska. When our market was at its
best it was helped very much by the
strength In Minneapolis and Winnipeg.
While rallies are to be expected the fact
remains that the heavy burden OF sup
plies is not lifted and until il shows less
pressure an extended advance cannot be
expected.
Corn and oats-As exemplifying the
condition OF the corn crop i'll a general
way, we would like TO quote a report
on Illinois by a local statistican. He
says that the percentage of unfit corn In
Illinois can be placed at j. per cent
based on general Ideas and examination.
The best farmers are hauling moldy
corn from the field and sorting II at the
crib for fuel Many sort in the field.
State experiments show farmers will
have difficulty in detecting infected ears
This phase Is serious. In parts OF Hi
n0is and Indiana the experimental sta
tons are advising farmers TO hold oil
corn for seed. The hog cholera Is very
bad in parts Of Illinois and Indiana.
Perhaps il is aggravated somewhat by
feeding this bad corn. The corn mar
ket responded to the strength in wheat
and the previous export business, coupled
with the very low prevailing price. 4
reliable party estimated the cost Of rails
ing corn, under present conditions, at
So cents a bushel. This should have d
tendency 20 decrease next years acreage
and Ii makes May corn look attractive ut
present price. Nothing but the enormous
visible suppl keeps the cat market from
doing better.
Provisions-The higher hog market and
the strength in grains were instrumental
in making better tone and some adj
yances in the products market. IL
woulG not take much to give better val
ues for lard and ribs