Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-07-22
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| CHICAGO, July 81. - Wheat mar.
! ket today was Il choppy affair, and
the tone changed often during the
session. Canada's weather and mar
ketS were big influence here.
| There was rush to sell at the open
ling because of rains over a good
! part of the big Canadian wheat belt.
! Much of the selling was in long
wheat, and was by houses influential
enough to cause the locals to follow
! the selling. On the dips, Darticu-
! larly at $1.25 for September, the
market encountered big buying on
resting orders. Cash houses bought
the September and December at 8
icents difference. About mid-session,
! Winnipeg market developed strength
and this caused many local shorts
! to cover their wheat. Buying by a
house with export connections also
tended to brighten the early sellers.
On the bulge long wheat again came
| out on the market.
| The demand for spot wheat was
mot so urgent today, buyers being
more particular in their selection be-
cause of the increased receipts. Pre-
miums, however. remained UNI
changed. Seaboard advices indicated
very little business over the week
end. The Domestic spring wheat
belt again received good moisture
lover Sunday. South Dakota, how
lever, was slight, and it is there
where more precipitation is most
needed.
Wheat closed IS to 1873 lower
July, $1.27; September, $1.25 5 SO
| I A. . I ..
May, $1.13 1-401.13 -.
Corn acted heavy from the start.
! Over Sunday tourists were greatly
/ Impressed with the Improvement
shown in the corn crop recently.
1.-THE hot weather over the week end
! also was regarded as favorable for
! forcing the growth of the plant.
Selling pressure was heavy, and To-
! cal sentiment has changed to the
bear side on the bulge. A decline of
II to 1 cent in cash corn premiums
was the cause of selling the old crop
months.
Corn closed A to / IS lower; July,
| $1.0S; September, $1.05 38@1.05 IL
December, - IA; December, 931-S.
Oats were affected by the weak
| ness in corn. There was rather
| liberal commission house selling at
1.-THE opening, and some stop loss or
! derS were uncovered. A little buy
ing on resting orders was the only
support noted. Cash basis was ID
| cent lower
Oats were / IA to 3-S lower; July,
| 40 IS; September, AZ ID; December
| As Is; May, 81 3-S.
| Provisions showed strength. How
receipts were smaller than expected,
| and this caused increased commits
sion house buying. Packers sold on
the bulge.
United States visible supply of
| wheat decreased 1886 bushels
| last week. Corn decreased 1,758,0 900
bushels, oats increased 171,000 bush
I els. rye decreased / ,061, 900 bushels
and barley decreased 1000.
Lard closed 80 IL to 35 cents high
er: ribs, % to so IL cents higher,
and bellies 25 to 80 cents higher.
! Local cash sales were one car of
wheat, $4,000 bushels of corn, $4,000
| bushels of oats, and 5000 bushels of
! barley. A local shipper bought back
| $4,000 bushels of corn from the east.
CHICAGO QUOTATIONS
The following were the ruling prices in
1he exchange today:
Open High. Low Close. Close
| WHEAT
July .1,27H / .2sM l .26M 1.27 1888
| Sept .1.2G1a 1.27 % 125as .26Es
Dee .1,b1a ] .297s ,277s, / .2s- ! 1898
| May 134h 1.3412 1914 334 G.34A