The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-06-24
GRAIN PRICES SOAR
TO highest LEVELS
Of PRESENT SEASON
Statistics Indicate a New High
For Business During
Last Week
PRODUCE PRICES BOOSTED
Hardwood Business Picks Up,
Families in South Leave
Relief Lists
PRODUCE PRICES BOOSTED

Soaring grain prices and favorable
business reports, In addition to other
recovery news from various parts Of
the nation, Saturday struck a new
note of optimism.
Grain prices swept upward to the
highest price levels OF the season at
Chicago and Minneapolis.
The weeks business statistics in
Dictated a new high in business ac-
tivity.
Prices of eggs and butter on the
Chicago market reached new high
levels for the year.
Forty thousand West Virginia fam
lilies have been removed from relief
rolls since April l.
The greatest activity in the hard
wood industry since 1880 was re-
ported Saturday by j. H. Townsend,
secretary of the Hardwood Manufac-
turers' Institute at Memphis, Tenn.
Grains Soar High
Grains again swept upward to the
highest price levels of the season at
Chicago following reports from the
west and northwest by experienced
observers which said that crops were
more severely damaged than had
been believed. Wheat, corn, oats and
rye were all affected with December
wheat touching 1914 cents a bushel.
Huge waves of buying were followed
by large profit-taking sales, but these
were without effect and the market
closed near the days highest prices.
At the close, prices were little
under the highest reached, but wheat
was then as much as az cents q
bushel over Fridays finish with Sep
TENDER at IS and December SO.
Corn ranged from l to IA cents
higher with December at SITS, only 4
cent beneath the high. Oats were ~
cents up with the December over the
&C cents line for the first time In sew
eral years. The close was 40h.
Trade was active all during the ses-
sion and only at the close were profit
takers able to cause even slight res
cessions, but these were generally
fractional. II;
SO-Cent Wheat Realized
At Minneapolis, the goal Of 80-cent
wheat was exceeded when the futures
market showed new burst Of
strength on reports of more extensive
heat and drought damage and of q
new heat wave on It's way.
July wheat closed Friday at 78x,
opened strong and continued an up
ward swing, closing at 82hc.
September wheat opened unchanged
to a fourth-cent higher at 80-79A
cents and after two substantial jumps
closed at 825s cents. December open
ed fractionally higher at 81h-&c, rose
to 83s early and gained a cent and a
half in later trade to finish at 84h
cents.
Coarse grains kept abreast Of
wheat, all closing strong. July oats
finished Us cents higher and Septem-
Der cents higher. July flax was four
cents up, while the deferred flax fu-
lures were more than three cents up.
Rye and barley were better than two
cents higher.
Heavy buying swept all future de-
liveries of eggs and butter to the high
est prices of the year on the mercan-
tile exchange at Chicago. Gains
ranged from u to n cent pound in
butter and from u to one cent a doE-
en- in eggs.
June butter closed at 23c pound. up
u cent. November was at 24A. June
eggs closed at IA, up full cent with
October at 1871, up u cent.
Statistical news in both commod-
tiles were favorable for high prices,
but sharply higher quotations in grains
and stocks were also bullish to the
market. Profit-taking sales were
heavy but failed to check the up
turns.
Statistics Are Cheerful
Statistics appearing during the last
week indicated new high IN bust
ness activity, according to Moody's
index figures for freight car loadings,
electric power production, and steel
ingot output.
These index figures are adjusted for
seasonal variation-that is, II the
change from the previous week should
coincide with the normal seasonal
change, the index figure would be un-
changed.
Car Elec- Com
loadings trio Steel bined
Latest week $50 1927 $40 73O