Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-11-15
GRAIN

| established ia all futures OF wheat
! today. July delivery did not make
a new high but it equaled the old
| top mark. Bullish sentiment was
rampant. Despite warnings that
! the advance had been too rapid, new
| buying continued to enter the pit
/ while there was little pressure to
sell even at the big upturn. Corn
and oats kept pace with wheat and
/ scored material gains. Provisions
were affected by the strength in
| grain.
! 1t was evident that there was no
| lack of confidence among bullishly
! inclined traders, in which tone the
/ market opened this morning. Con-
! fidence has been strengthened by
| the bullish Canadian official crop
| reports of late yesterday, the big
| bulge in Liverpool as a result Of
! reports of frost in Argentina and
! the sharp advance in sterling eN-
change. Buying was general in
! character, most of it speculative, but
| cash interests continued to turn
over hedges from the December to
! the May at the widest difference on
, the crop. At no time was pressure
heavy enough to materially retard
! the upturn. Cash interests told of
| buyers, both export and domestic,
showing a reluctance to follow the
advance. They wanted to convince
themselves that the upturn was. not
merely a fIare-up. There were bids
here of Sc over December, c. /. f.
Georgian Bay but these were one
cent under holders views. Canadian
official crop report indicated a yield
Of
600 900 bushels compared with 267,-
600 600 bushels the previous esti-
mate, and 452 900, 900 bushels har-
vested last year.
Wheat prices reacted after estab-
fishing new high records for the sea
son on all deliveries. Realizing sales
were liberal on the advance. Last
prices, however, were IL to csc
higher. December, $1.547s to $1.55;
May, $1.621s to $1.G2; July, ST. to
$1.40B.
Corn met heavy buying at the
opening and continued throughout
the later part of the session because
of the wet weather interference with
husking and marketing of the new
crop. Both eastern houses and active
local traders participated in the bull
movement. On the advance the
market met with heavy realizing
sales from buyers of yesterday.
Some shippers claim that the higher
offers from this market last night
resulted in no acceptance; others
say that they experienced a fair vol
| ume of business. The county sold
only a few cars of corn to arrive
on overnight bids.
Corn closed q to ia higher. De
cember, $1.14 to $113%; May,
$1.1SB to $1.1S%; July, $1.191a.
Oats kept pace with the advance
in other grains. Investment buying
was enlarged because of the bullish
Canadian crop figures. These
showed a reduction of 100000
bushels from the previous report
and 143, 100000 bushels from last
years yield. Movement of oats is
falling off. Eastern buyers showed
reluctance to follow the advance in
cash oats.
Oats were 1 to IL higher. De
cember, 81; May, 5S7s to SO; July,
81 to SIS.
The strength in grain increased
the demand for provisions. A cash
house was prominent on the buying
side of January lard while a local
packer was a liberal seller OF May.
Commission houses were buyers of
that delivery.
Lard closed 215 to 1Oc higher,
ribs, 212c lower and bellies, sc
higher.
Local cash sales were 10, 900 bush
els of wheat, 9S,0 600 bushels Of corn,
10000 bushels of oats and 10000
bushels of barley.
The Seaboard reported 400 900
bushels of wheat taken for export
CHICAGO QUOTATIONS
The following were the ruling prices in
the exchange today:
Prev.
WHEAT Open. High Low. Close. Close
Dec. ..1.5@at 1.562s 53M 1.547s .52ss
May ....1.60 l G33s / so /. 90 l .591s
July al 401a .42@s / .4012 | 403t 39H
CORN
| Dec. ..,.1.13ta 1.157S 1.131a 1.13% l .122i
May ....1.1S&t .2012 1.1Sat 1.1Sa. 1.17ai
July al 1854 1.2l12 1.191a 1.19a. 1.1SH
Dec. ...., 53A So 5aA "a s2H
May go. 1884 1915 5SH asH 571a
July .... IS 5Ga5 81 sc
RYE
Dec. ....1 $3.50 soas 1857 .sa7s l .s7H
May 80. -. 1.43 LII 1.H 13S5s
lad
Nov. $500. ..... 14.70 II. 20
Dec $50. $500. II. - IA. 20
Jan. .... 14.17 14.32 14.1z 1920 14.17
SIDES
, Nov 49, 49,. ....T~ $50. 60 u. 60
Jan ..... 80. ..... 12.47 u. 80
BELLIES
Jan. go. go. ..... go. 1850 IL. A.
RECEIPTS IN CHICAGO
| wheat .,,...,,....., ........... 66 cars
Iorn '''.'........,..,.. 1871 cas-
u'tN .'.'..... ACKNOWLEDGEMENTS. ~ ears
HOGS OBSERVATION-DISCLOSURES. 600 head
GRAIN MARKET OPINIONS
lamson Bros.-We feel bullish on all
grains but would advise buying on dips
only.
Stein, Alstrin & Cove look for q re-
sumption of advancing market
Hulburd. Warren & Co.-The situation
! in bread grains the world over is ex-
! tremey hulish
Sugar Market
NEW YORK, Nov. 13.-The raw sugar
! market was firm and unchanged early today
! at 5.1Sc, duty paid.
I ON continued buying, believed to be tor
cuban account, raw sugar futures advanced
/ 10 / points early, but they reacted par-
j paIly under realizing. Midday prices were
| l to points net higher.
Business in refined sugar was less active
( Ir'ceS were unchanged at 7.15c to 725c for
I fine Sranulatcd