Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-09-27
GRAIN
BY GEORGE C. sCHNACKEL

| CHICAGO Thursday, Sept. 25.-
| The feature of the grain trade to-
! day was the excellent character of
| the buying in wheat. Even corn
nearly overcame its depression be-
| cause of the strength shown in the
leading cereal. Oats were also a lit
| tie steadier in tone. Provisions were
dull and irregular.
Wheat showed much strength
I The feature of the market was the
persistent buying by houses with
eastern connections. This buying
was credited to exporters by some
and to spectators by others How
ever, it was learned that 500 600
| bushels of wheat had been accepted
! by foreign buyers overnight. There
was a setback Immediately after the
opening on local selling, induced by
the break in corn and a little hedg-
! ing pressure. These offerings were
Immediately absorbed end local sell
| ers were forced to bid sharply in
| order to get the wheat hack again.
On the bulge orders to sell were
sufficient in volume to cause a lit
tie reaction later. Foreign news
was again bullish. Liverpoors
strength in face of the decline in
North America yesterday was at
tributed to a report that Russia had
prohibited exports of grain for six
months. A feature of the statistics
was an increase of 10000 bushels
in Chicago shipments over the ar
rivals. Spring wheat movement
continues liberal.
Wheat closed "a to 1 5-Sc higher.
September, $1.32 IL; December, $1.36
to $1.36 IA; May, SILL IL to $1.41
IS; July, $3.50 5-S.
Corn was subjected to frequent
changes in price trend. The start
was higher on buying by a local
leader. Commission houses sold
heavily on this upturn and prices
dropped sharply. Later the strength
in wheat attracted the attention of
shorts and many of them deemed
it prudent to take advantage of the
setback to take profits. Country Of
ferings to arrive were little larger
than yesterday. Shipping demand,
however, was not so good. Weather
conditions were ideal for curing the
crop but some apprehension was
felt over the possibility of the wet
weather and lower temperatures in
the northwest working down over
the corn belt
Corn closed SAC lower to lac
higher. September $1.06 ga; Deem
Der, $1.02 "a to $1.02 rs: May, $1.O4
Is to $1.04 Ia July, $1.04.
Oats followed the trend of corn.
There was less hedging pressure in
evidence and more desire to buy be-
cause Of the strength in wheat.
French oats crop is said to be 35
per cent smaller than last year.
Shipping demand for oats is light.
Oats were 1Sc to 5-Sc higher. De
cember, Sis to 81 IA; May, SIS Is.
Provisions were featureless. Price
changes were of little consequence.
Nearby deliveries of lard were
given some support by cash inter
ests.
Lard closed 21-2c higher to Toe
lower; ribs unchanged. and bellies
unchanged to 2 12c higher.
Local cash sales were 145, 900 bush
els of wheat, including 100000 bush
els to exporters $4,000 bushels of
corn; 900 bushels of oats, and
1000 bushels of barley.
The seaboard reported 100000
bushels of wheat and 100000 bush
els of barley taken for export.
cu1cAco o1roTAT1oNs
The following were the ruling prices IN
the exchange today:
Prev
Oman uich low Close Close
Sept. ..1.321s / .32la 1.311a 1.321a 1.31%
Dec ...1.3 5A l 1864 .347s 1.36h 1.34h
May ...1. ~ .4la .30#s 1.411a l 40A