Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-08-23
GRAIN
BY GEORGE c. SCHNACKEL
(Special Leased Wire to The Journal-Copy
rirht lNo4 !

A world Of bulliSh news sent Wheal
iprices soaring early today, with spec
:ulative buying gave out on the
bulge, and the market lost much OF
Its gain during the last hour.
! Frost reports from Canada, uneX
Injected strength at Liverpool, drought
complaints from the Argentine, fam
line talk from Russia and indications
| of a broader milling demand in this
! country. all served to bring about
| the early gain.
! The local element were bullish,
and bought wheat on the weak spots.
| Commission houses had selling or
| ders on every furry, and these were
regarded as profit taking sales. Ele-
vator interests bought September
wheat freely in the pit, and took the
cash grain off the spot market.
Wheat presented every earmark of
bull affair, but yet prices would
not bull.
The movement of winter wheat
| from and to primary markets con-
tinued brisk, while the demand gen.
orally was improved. Locally there
were $4,000 bushels of wheat sold to
exporters. Broomhall, the foreign
statistician, estimated that the wheat
crops this year in Europe would be
I197 ,000, 900 bushels short of 1928. I'm
! favorable weather in France hurt
! the wheat already cut, and checked
threshing operations.
The Seabourd confirmed export
sales of 900 bushels of wheat to
i Europe. Foreign interest was ma
terially improved, especially for
wheat that could be shipped imme-
diately. Vessel agents claim the con-
gestion of foreign and domestic
wheat at Montreal and Port Cal
borne is unrelieved This situation
lis apparently making foreigners
anxious for current needs.
Wheat closed rs to &c lower.
September, $1.265s @1.26A; Deem
Der, $1.31 x @1.S13s; May, $1.31A q
1879: July, $1.2SA.
Corn was heavy. Weather condi-
tons over the west and southwest
for this grain were greatly improved,
land longs let go while bears became
Imore aggressive. Temperatures in
Iowa were at 80 degrees, with the
skies generally clear. Cash corn was
lin good demand at firm premiums.
Heavy liquidation carried corn s
IA to 4 5-Sc lower at the close. Ser
TENDER, sf.17@1.1615; December
$1.115a@t.113s; May, $1.13B q
1854; July, $1.141s.
Oats were reactionary from the
start. Hedging sales filtered into
the pit during the day, and overcame
the scattered buying through COM
mission houses. Cash oats were in
OF
Rye firmed early, but then reacted
with other grains.
Oats were 13s to 2Bc lower. Sep
TENDER, 515s @51%c; December, IS
@551sc, May, 555s @55Bc.
Provisions were easy. Scattered
selling through commission houses
took the edge off the market Small
packers were the buyers. Weakness
in corn offset the strength in hogs.
Lard closed 30m40c lower. Ribs,
5@15c lower and bellies 15@27c low
er.
Local cash sales were $4,000
bushels of wheat, including 100000
mors of a bigger export business
els; oats. $4,000. The Seaboard re-
taken for export.
CHICAGO QUOTATIONS
The following were the ruling prices in
the exchange today:
Prev.
Open. High. Low. Close. Close
WHEAT
Sept. - .277s 1294 .257s ] .265s .27as
Dec. LIB 1.34as 1918 1.3114 .S214
NJ
July -. 49,. 1. 80 1.2SA 1.2SM ......
CORN
Sept. ~. 20 1204 ] 1863 1877 .20A
Dec. ...1.151a 1.161s 1.11M 1.115s 1.151s
May ..,1.16% LIE lib LBS lily
July :. $50. 1.1S1s 1.14h 1.141a .....
OATS
Sept. =. 53al 541s 5,ss 5iss 5sM
Dec. =. 81 571s 80 55% 81
May =, CO.'S Co.'s 5S7s 5sss COZ
RYE
Sept. =. 9l9s 924 so9s so4 91qs
Dec. -. 969s 971a % 95 963s
May ...1.02h .O3 1.00B 1.0o3s 1.O2
Sept. -. 10 81 1885 IS. 80 Is. So IS 80
Oct. -. IS % $50 13 90 Is 80 13 %
Jan. -. 1920 14.15 14.05 1905 II. 20
SIDES
Sept. IL. % 12.O1 10 j. .07 u 10
Oct. -. -. Is 1905 l. o5 II. 05 u. 20
BELLIES
Sept. -. IS 25 1925 O5 IS 05 10 so
Oct. 80. 10. 40 IS 40 10 20 10 20 Is As
RECEIPTS IN CHICAGO
Today
Wheat ...... ...... -. $40. 637 cars
Corn ....... ...... .......... so cars
Oats ...... ...... ......... 234 cars
Hogs ..... 80. ............2 % 900 head
CHICAGO CASH QUOTATIONS
CHICAGO, Aug. 21.-Wheat No. . red,
$1.33A; No. hard, S1.27M al. 2912.
Corn No. = mixed. $1.21@1.2o; No. . vel