Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-09-25
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GRAIN

CHICAGO Wednesday,. Sept. "a.
Corn again today developed sink
ing spell and it took strenuous work
by bull leaders to prevent a complete
collapse in price.
Wheat exhibited wonderful absorb
/ ton ability and prices were about
jsteady. Oats were depressed by the
action of corn. Provisions had a
firm tone.
i Corn was choppy in the first half
of the session, but in the latter hall
the market exhibited signs of being
+, overbought Much of the short in
iterest was eliminated on yesterdays
bulge, and this left the market with
reduced buying power. There was a
! little bulge at the opening, an eff
| fort on the part of some of the bulls
| to stampede further short covering
lbut when this demand was filled the
market sagged under it's own weight.
| The excellent weather for curing
corn caused some pressure, but again
support developed on the break ana
these sellers ran for cover.
! After mid-session ore of he lead
ling houses attempted to unload some
| long corn and prices broke sharply
under this pressure. On the dip a
| local leader bid up prices over Il cent
! from the low point. Country offer
iinGs were not so heavy as yesterday
owing to the bulge which led the in
! terror holders to expect still further
advances.
Corn closed Is to 1-2c lower.
September. 1.O7 IL; December, i.02
81 to L. May, 1.04 IA to Is; July,
04 1-2
Wheat action was Irregular. The
/ outstanding feature was the ability
3. to absorb offerings in the neighbor-
| hood Of last nights close. The buy
ling was mostly speculative and most
; OF it for eastern account Export
| houses were not doing much in the
! market Most of the selling WIS
credited to hedgers and to those that
bought on the break yesterday. Sea-
! board exporters are keen for cash
wheat and renewed their bids of l
SAC over December c. i. f. Buffalo,
! for No. hard Weat, intimatin9 that
they might raise this bid 1-4c if a
| big enough lot was offered
! Minneapolis told of selling 500, 900
bushels of No. l northern wheat to
Montreal yesterday Millers were also
active buyers at the terminal. Winter
wheat receipts were smaller but
spring wheat movement shows a
steady increase.
| Wheat broke under local selling
and closed 5-S to / 1Sc lower. Sep
| TENDER, 131 rs; December. 1.34 IS
| to 1-2 May, lao 3-S to IA; July,
l129 7-S
! Oats were affected by the action of
lo
only feature worthy of notice was the
reduction in hedging pressure. Ship
ping demand was light.
Oats were unchanged to 7Sc low
| er. September, AZ Ia; December, so
| "a May, "a IL to 5-S.
Provinces were firm. Packers
bought nearby deliveries of lard and
eastern houses bought the deferred
months. Trade in meats was not
| large.
! Lard closed 7 ID to II Lee ~
er and bellies , II lower to 10c high
! Ell No trade in ribs.
Local cash sales were 245,000 bush
els of wheat, including 100000 bush
! els to exporters; $4,000 bushels of
corn; $4,000 bushels of oats; and s.
| 600 bushel sof barley. The Sea-
board reported 100000 bushels of
wheat and 100000 bushels of. rye
| taken for export.
CHICAGO QUOTATIONS
| The following were the ruling prices IN
| the exchange today:
! Open. High. Low. Close Close
| Sept. 81. 81 1.32as 1.31N Isis 1.s15s
| Doc 81 | 36It 34&S 34l3 BIZ