Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-11-04
OBSERVATION-DISCLOSURES
GRAIN

! CHICAGO (Monday), Nov. s.
- The opinion was freely expressed
that the wheat market would rally
! after the early decline today. This
! kept the market bobbing up and
! down most Of the session because
! buyers lacked the courage to follow
! the advance in view of the break Il
Winnipeg. The break in wheat check
cd bullish activities in corn and the
decline in both these grains eXerted a
depressing influence over oats. Pro
visions were a little firmer.
Wheat had a rather choppy action
today but it was difficult to main
tain bul2es. There were many peo.
pie friendly to the market on the
decline, but they were not so anxious
to take an aggressive stand on the
rallies.
Many of the big shorts took prof
it's on the break. The selling was
hard to describe but it was notice
able that offerings were in album
dance on any little upturn. The
bearish cash situation seems to b3
tNerting its influence at the moment.
The fact that Winnipeg lost 1c # its
premium over Chicago was a refiec-
ton of the slow demand fOr cash
wheat there The increase in the
visible supply today and the fact :hat
supplies ION ocean passage are 49,
900, 900 bushels more than q year ago
and that world shipments were ar
E7oSU as large as last week despite a
falling off Of nearly 100000 bushels
IN North American ciearances lent
confidence TO the foreign buyer in
his attitude of refraiIin9 from buy
ing wheat at the moment. Native
supplies also are available in large
quantities and this also is a deter
rent factor. Millers are waiting for
the election before replenishlng their
stocks of wheat. Receipts continue
liberal and casn prices are casing
off Weather continues dry over
most of the wheat belt.
Wheat closed SIS to l 18c lower.
December 81 80 rs to $1.39 "a; May
$1.45 IS to $1.45 IS; July $1.3l 3-S
to $1.31 IS.
Corn acted as if it wanted to rally
but the decline in wheat had re-
straining influence on prospective
buyers. B. w. Snow estimated the
corn crop, based on November L con-
dition. at 2,456 600, 600 bushels, or
2 400 900, 600 bushels, taking III ac-
count the loss in acreage. Garry
over of old corn he estimates at
147 900, 600 bushels. Nat c. Murry
estimates the corn crop at 2,474, 00".-
600 bushels and the carryoVer at
120, 200, 900 bushels. Both these re-
ports were constred as bullish. Coun-
try sold only n few cars. of corn to
arrive overnight. Shipping demand
overnight was light with some ID
qriry for round lets, if concessions
could be had. Premiums for cash
corn were IA to 1-2c better than Sat
urday.
Corn closed 1-4c lower to Is cent
higher. December $1.05 IA; May
$1.O9 IA to $1.O9 3-S; July $1.09 rs.
Oats were affected by the action OF
other grains. Cash interests We're
good buyers on the break. Shipping
demands over the week end was light
but some business was worked on
the break.
Oats were 1-Sc lower to 5-Sc high
err. December 48 SIS; May SO II TO
50 SIS; July 81 Is.
Provisions were quiet but firm.
Selling pressure was lighter and the
advance in hogs stimulated some
buying.
Lard closed unchanged to 25c low
er and bellies sc lower. No trade in
ribs.
Local cash sale were 49,, 600 bush
els OF wheat; 100, 900 bushels of corn
and 81 900 bushels of oats.
The seaboard reported 25O,OOO
bushels of wheat and 100000 bush
els of rye taken for export.
CHICAGO QUOTATIONS
The following were the ruling prices in
the exchange today:
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