Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-10-21
GRAIN

was a discouaging market for the
wheat bulls today. Price trend con
tinued downward and the lower the
market went the less buying power
developed The break in wheat had
u depressing influence on both corn
land oats. Provisions ignored the
bearish feature, and continued their
iupWdrd movement, with lard prices
tagain the highest for the season.
Wheat needed support badly. On
the early break export houses alb
lSorbed some of the offering, but later
when this demand was filled it was
idifficult to develop buying power 9th
Ter than in the market on resting or
ders. Cash wheat is in u weaker po-
lSition, and the basis in the local mar
iket was a half cent lower. Export
jbrokerS were unable to find any de-
Imand, even though they intimated
ito their seaboard principals that
cheaper offers were to be had. Win
Inipeg weakness was by no means
Encouraging to the local holders,
Imany of them unloading when they
noticed this fact. Cash wheat at
Winnipeg was on a delivery basis for
TALL but No. l northern. Indications
tpointed to another liberal increase in
1.-THE visible supply. Seaboard advised
that sales overnight for export would
mot total much over 5000 bushels.
! London Times estimates the Austria
| liam surplus for export at 95, 000,0 900
bushels, compared with 70,000,0 900
bushels, BroomhalFs estimate for last
| year. The newspaper estimate is
| looked upon as rather optimistic in
Iview of the fact that recent Off
cial advices indicated II crop this
year slightly les$than that of year
| ago.
Wheat closed near the low point,
2a4c to 53sc lower. December,
$1.455s to $1.4514; May, $1.4A to
Slabs; July, $1.311a to $1.31H.
Corn also lackeds buying power.
There was an attempt on the part
/ of local traders to support the mar
Iket, but longs were discouraged and
took advantage of every opportunity
to market their holdings. Weather
continued to make understandable
Icorn and also to permit pasturing of
live stock. Both these features were
lprice depressors. Cash corn was
weak, and discounts were a half to
1c wider. Country offerings to ar
|rive were nil. Shipping demand was
poor.
Corn closed, 23sc to 2Ac lower.
! December, $1.062s to $R0615; May,
$1.0SB to $1.083s; July, $1.09A tC
$1.091s.
Oats were under pressure because
of the weakness in other grains and
accommodating stocks. Locals and
commission houses were on the SELL
ing side, and support was limited to
oy.6ppc
Oats were 1Hc to 115c lower De-
| cember, 52asc to 52Ac; May, 5612c
to 565sc; July, sac.
Provisions opened lower in sym
pathy with hogs and grain. On the
break packers bought literally of.
NEARBY deliveries Of lard and this
started a buying movement which
carried that product to new high
levels of the season. Realizing sales
caused some reaction in the later
trading.
Lard closed size higher to 215c
lower; ribs, 1212c higher, and bellies
4713c lower to 212c higher.
Local cash sales were 1000 bush
els of wheat; 10000 bushels of corn;
156, 600 bushels of oats, including
1000 bushels to exporters, and 5000
bushels of barley.
The seaboard reported 100000
bushels Of wheat and 100000 bushels
of rye taken for export Vessel
room was chartered for $50, 900 bush
els of wheat to Buffalo.
CHICAGO QUOTATIONS
The following wore fine ruI,nc nri.as in
The exchange To-Day:
! Prev.
Open. High. Low. Close. Close
W HEAI--
po toa. io", 81, ,-s, N
f'of 80 - Nv