Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-11-11
GRAIN

CHICAGO (MondaN, November 1G.
\ wave Of heavy buying carried
wheat prices to the highest point Of
the season today, away in advance Of
the lower market bears had establish
ed before the election.
The seasons price record was
smashed at the opening and again
wheat helped bulls in other grains
and bots >>orn and oats were sharply
higher. Provisions had a setback aft
er higher opening.
\ sharp advance in Liverpool,
further advance in sterling exchange
and the fact that the Winnipeg mar
lIet was closed today, owing to their
| THANKSGIVING holiday. all combined
TO make a big bull market in wheat.
There was a wild rush to buy as soon
as the market opened, not only by in
vestors but by millers and exporters
as well. The closing of the Winnipeg
! market brought most of the export
ers to Chicago to buy in their hedges
on wheat sold abroad. The bulge
in Liverpool was attributed to rcduc-
ed estimates on the Argentine crop.
Australian crop news was very dis
raging to the foreign consumer.
Local shippers reported exporters
bidding cent more for wheat than
they did Saturday, or 3 1-2c over
December, elf. Buffalo, for No.
hard. Foreign statistics were bear
ISL. World shipments were near
record volume and an increase Of
over 1000, 900 bushels is wheat sup
plies on ocean passage brings that
total up to 20,000,0 bushels in eX-
cess of last year. The department
of commerce reports exports Of do
nestle wheat last week at 10, $4,000
bushels compared with 5,015,000
bushels the previous week, and 3,0S5.-
600 bushels the corresponding week
a year ago.
Wheat closed / rs to 3 SAC high
er. December, $1.53 IS to 7-S May,
$1.60 to SLIGO Il; July, $1.40 to
$1.39 81
Corn bulls were excited over the
action of the wheat market and they
accomplished better results in their
efforts to enhance values. Despite
the fact that a big line of December
corn carried by an eastern interest
was in the process of liquidation,
prices advanced steadily Cash corn
did not follow the advance in futures
and reduction of 1-20D3-4c in the basis
was noticed. Country sold corn a
little more freely on the advance.
Shipping demand was more general,
but buyers confined their purchases
to immediate requirements.
Corn closed rs to 1880 higher.
December Sill to Sill IA; May,
$115 IA to IL; July, SIG 3-S to IL.
Oats followed the lead of other
grains and in the course of the day
scored good gains. A reduction in
the Argentine crop promised was
used effectively by the bulls i'll gain
ing recruits to their way of think
ing. Shipping demand was light.
Oats were "a to 7-Sc higher. De
cember, so 7-Sc; May 81 sac; July,
50 3-4c.
Provisions started sharply higher
on investment buying prompted by.
the strength N corn and the advance
in Liverpool lard. The bulge
brought out heavy realizing sales and
all of the early advance was soon
wiped out.
Lard closed 1-2 to DC lower. Ribs
zoe higher. Bellies, Is to zoe lower.
Cash sales today were 5,006
bushels of wheat; 90 bushels of
corn; $4,000 bushels of oats. and TO-
600 bushels of barley. Seaboard re-
ported 100000 bushels of wheat
taken for export.
CHICAGO QUOTATIONS
Tie following were the ruling prices in
The exchange today:
Prev.
WHEAT Open. High. Low. Close. Close.
Dee. -. LIB 1.541a 1.5214 1.53M 1.517s
May 80. 1.59 1.6O3s 1.5S1. 100 1.57S
July -. 1897 1.lO 1.39 39I 1878
sORN-