Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-08-14
11i!\Ak&RI<gMar@tt Reports
GRAIN

CHICAGO, "wednesday, Aug, Is.
A peculiar situation developed in
! the grain markets today.
The leadership shifted from corn to
wheat.
Corn prevented a decline in the
! breadstuff early, and about mid-ses-
| Sic Meat pulled corn down from its
high PEDESTAL
! The weakness in wheat was due to
| the failure to stimulate outside buy
| ms interests. The strength in corn,
| and the advance to new high levels
| for the season in the futures, was
! due to cold and wet weather. Oats
trade is broader and buying was due
j to the strength in corn. Provisions
| were affected by the action of coarse
grains.
Wheat was inclined to be draggy
from the start. There was just
enough respect developed owing to
the strength in corn to prevent short
selling of any volume. The start was
a little higher on buying credited to
eastern accounts.
Northwest houses turned prices
downward with their offering but
locals bid them up again because
of the advance in corn. About mid
session early buyers attempted tc
unload and this disclosed a lack af
support. Winnipeg was easy most
of the session and this was dis
couraging to holders. The break re-
suited in some export business but
the total was moderate in comparl-
son with Yesterdays. business.
An advance of one cent in Lake
freight rates to cents a bushel to
Montreal tended to check export bus
mess.
BIDS from Buffalo were Sic under
sellers views. Country offerings to
arrive were light. An official esti-
mate shows the wheat acreage of
England and Wales the smallest
since 1904. Weather conditions were
generally favorable on both sides
of the International line and frost
failed to materialize in Canada.
Wheat closed y to ~ lower. Sep
TENDER 1.2S1s to Il; December 1919
to Is May 1868.
Corn showed much strength early
and December and May sold at new
high levels for the season. There was
a continuation of short covering and
stop loss buying with offerings linn
tied. Later some of the local bulls
bid prices still higher in an effort
to dislodge further short lines,
About mid-sess.On the break in wheat
caused many Of the early buyers
to unload and much of the advance
was wiped out. The weather con-
tinues cool and wet over the big
surplus states and this is the basis
for the present upswing. Country
continues to hold on to Old corn,
and receipts are light
Corn closed e to 17sc higher. Sep
TENDER 1.15B to q December 1.0SA
to Is /; May 1903 to LOSS.
Oats were strong with corn, react
ing later with other grains. Buying
power is increasing because of the
continued delay in threshing.
Oats were Il higher to a C lower.
September so to sos; December 81
May So. Lard closed II to zoe hi/h-
er, ribs 10 to 1213c higher, and bellies
~ to 10c higher
Provisions were affected by the
course of corn. Commission house
buying was better and there was
little pressure to sell despite the de-
cline in hogs.
Local cash sales were $4,000 bush
els of wheat, 117,000 bushels of corn,
10000 bushels of oats and 5000
BUSHES of barley Vessel room was
chartered for 100000 bushels of
wheat to Montreal, 100000 bushels
to Buffalo. and 100000 bushels Of
corn to Buffalo.
CHICAGO QUOTATIONS
The following were the ruling prices in
the exchange today
Open. High. Low. Close. Close
WHEAT
Sept. . .f.29 / POI f.27a. .2sl. 1 .2s7s
Dec. .1.32M SO BIZ. .3lat ] .321s
May .1.5Sl4 1854 1867. ,367s 1873
CORN
Sept. . .1.I5't 1.l6 1.151t 1.15% LIS
Dec. .t.O7l9 OBS 1.O7@s L. oS3s I.07rs
MAY LOIS LODI 1.o73S LOSS LOTS
OATS
Sept. 497s 5ols 4e7s so 1875
1oI. 5o&.