Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-08-12
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! CHICAGO (Monday>, -AdS. II. -
Lack of confidence perNaded the
wheat market today. Buyers were
plentiful on the dips, Lut became
scarce on rallies. An official Cana
dian crop report is expected to be
issued late this afternoon, anG this
Twill probably be less 5ullish than
private reports. Buyers were in
clined to wait before rep'acluE their
lines on this account. Cora, oats
land provisions were affected by the
faction of wheat.
Wheat opened steady, meeting
ienouSh buying to absorb The scat
tered offerings. \ minute or two
later heavy selling of lolG wheat
icaused a material setback in prices,
| Commission houses had resting or
ders to buy on the break, and OK
IporterS took September around $1.27.
This checkedNthe decline and caused
some recovery, out the rallies were
ldifficult to hold The NOV ement of
wheat continues liberal and new
spring wheat is now on wheels. Mn
Ineapolis reported arrival of cars
of new wheat 3 of straight spring,
and of Durum. One of the cars
graded No. | dark northern, II ,
4 per cent pIOlSlIl, anu oOlN at IL SSAA'''
over September. The export demand
was good for wheat IN nearby posi-
tions. Local exporters sold 3 loads
of gulf wheat to load To-Day.
Bids from e-& :Jorters to ICal ship
pers were on a workable OASIS, but
acceptance was impossible, owing
to the inability 70 secure vessel room
in order to get the wheat to its des-
tination in the time specified. Ar
genuine weather was reported dry,
and rains last week insufficient. Viz
ible supply increase will proO2hly
exceed 100000 bushels. Weather
| in the Canadian west continues cool
and favorable.
Wheat closed near the low point
meeting with additional liquidation
! because Of the big increase in tine Wis
| ible supply, nearly 100000 bushels.
| Last prices were ] 58 to l IS lower.
| September. 1.26 "a to ID; Deem
! ber 1.3O 3-S TO IA May, 1876 3-S to
: IA.
Corn started Sharply higher. Cash
houses bid up September, and locals
F., bought the new crop months. On
! the bulge commission house selling
was liberal, and then some Of the
early buyers sold out because of the
| ly, but commission houses were
again buyers and forced partial re-
covery later. Spot corn was n good
demand at unchanged premiums.
Crop news is generally favorable.
Corn closed Is to l 3-8 lower
September, 1.13 3-S to 3-8 to IA.
December, 1903 5-S to IL; May, 1.04
IA to Is
Oats Were "a toll Is lower
September, As "a; December, 81 IA:
May, "a Is. Lard closed Is to 20
cents lower. Ribs 50 to 40 lower;
bellies II II to Is lower
Oats were affected by the action
of TOther grains. There was some
pressure from hedges, and buying
power was not any too good. Pre-
MUM for cash oats showed fur
Their decline of IL to l cent.
Local cash sales were 21S, 900 bush
els Of wheat, $4,000 bushels of corn
and 10000 bush els of oats. The Sea-
board reported 50O,0 900 bushels of
wheat taken for export. Vessel room
charted for 100000 bushels of wheat
to Buffalo and 100000 bushels to
Montreal.
Provisions were low. Trade was
quiet, and the bulk of the orders
were on the selling side. The de-
cline in hogs and grain checked the
buying power. Packers gave the
market some support, and there was
local buying on the dip because of
favorable foreign news.
The receipts of wheat at Kansas
City, the principal terminal market
of the south west covering the period
from July l to August 7, were 27,272,-
600 bushels. In 1928 over a similar
period receipts were 14,502, 900 bush
i els. In 1922, 16,477,00 bushels, 1921,
26,227 900 bushels, in 1920, 9,993,00
bushels, and in 1919, 22,104,000
bushels.
CHICAGO QUOTATIONS
The following were the ruling prices Ii
| The exchange today:
Open. High, Low. Close. Close
WHEAT
| Sept. IL 2sss 1 ,2s5s 1854 /. Peg .2S2as
| Dec. 81 .32A 1.S214 1.297s 1.301a 1.321s
May ...1.37 Isl 1888 1854 1878
CORN
Sept. ..1.15A 1.15h 1.13B 1.134 1,14h
Dec. ...1.05H 1.O5h .03% 1.03h 1.047s
May II .O5B LOSS 1.041S LOIS LOSS
OATS