Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-10-16
Slow Wheat Market
Holds I rices Of Grains
Within Narrow Limit
BY ,GE08GE c. SCHNACKEL

Especial Leased Wire to The Journal-Copy.
right, 1921
! CHICAGO Wednesday,, Oct. .
Uninteresting, is about the best term
to describe the wheat market today
Prices seemed begged at one lev2l
iuarrow range. Greater activity W, S
noticed in the oats market, and prices
were firmly held. Corn was bene-
tilted by the strength in oats. Pro-
visions had a better tone.
In wheat it was difficult to find
anything that could be construed as
an outstanding feature. Bulls were
disappointed at cabled prices. \ poor
demand was responsible for II decline
in the early trading at Liverpool.
That market, however, closed a small
fraction higher. The action Of the
Liverpool market not only caused
selling by timid longs, but seemed to
restrict new buying. After the open
ing break leading interests on the
long side bid prices up and there was
buying later for northwest account
and by export houses. The rallies
encountered pressure from houses
with foreign connection. Official
Italian crop report makes the yield
|172, 100000 bushels compared with
225 100000 bushels last year. A
newspaper estimate of tho French
crop indicates a yield of $4,000, 900
bushels compared with 276,0OO, 900
bushels last year, but the quality was
1-2c in the opening quotation from
nd &c
still lacking in some sections. EX-
port demand for wheat was only mod
crate.
Corn started lower under coal sell
ing inspired by the continued favor
able weather. On the dip commits
sion house buying broadened especi-
ally for eastern account and prices
responded to this support. Cash corn
basis was unchanged to 1-2c better.
Receipts were smaller, and cash in
terestS claim that the country is hold
ing back old corn and showing a ten
dency to offer their new corn to ar
rive. Shipping demand was quiet
Oats showed Independent strength
from the start. There was q large
commission house demand, and ac-
tive local traders were on the buying
side. Elevator interests sold on the
rally. Sales of 1G5, 900 bushels were
made to go to store.
In provisions -ar1 was the product
traded in freely. Packers bought the
early deliveries, and shorts covered
after prices dropped under commits
sion house pressure because o. the
break in hogs.
A mad rush on the part of shorts
to cover because Of enlarged export
sales caused an advance Of 4 to 3-8c
in wheat prices. Most of the strength
occurred in the last half of the SEES
sion. December $1.51 to $151 is;
May TO $1,55 81 to $1.55 rs; July
$1.37 IL.
Corn closed 1 1-4c to sac higher.
December $1.13 ga to $1.13 SIS; May
$1.15 rs to $1.15 "a; July $115 rs.
Oats were 1 3-Sc to &c higher De
cember SIS 3-4c; May 80 3-Sc to 80 1-Sc
July Sc 31-4c.
Lard closed II 1-2c to % lie high
err. No trade in ribs or bellies.
Local cash sales were AIS, 900 bush
els Of wheat, including 100000 bush
els to exporters; $4,000 bushels of
corn, $4,000 bushels of oats and 49,
600 bushels of barley.
The Seaboard reported 1000 900
bushes of wheat, 100000 bushels of
rye and 100000 bushels of barley
taken for export. Vessel room was
chartered for $4,000 bushels of
wheat to various lake ports
CHICAGO QUOTATIONS.
The following were the ruling prices IL
he exchange today: