Evening star., 1942-02-01

mlQollng, 1890; gooo mldullng, 1870.
Cottonseed Oil Quiet.
At New York, ceiling prices pre-
vailed again in cottonseed oil fu-
lures, spot crude cottonseed oil and
crude soybean oil with only slim
business. In cottonseed oil futures
trade, operations centered on even
ing up outstanding commitments.
Sales totaled rs contracts. March
closed 1895, May 1898, July 1898.
all bid.
Crude oil was priced at 12% cents
a pound bid in the Southeast and
Valley and 12h in Texas. Crude
soybean oil held at llA cents, basis
Decatur, Ill.
At New Orleans, cottonseed oil
closed dull. Bleachable prime sum-
mer yellow unquoted. Prime crude,
1880, nominal. March. 1883 bid;
May, July and September. 1889 bid.
Grain Prices Retreat.
At Chicago, an outbreak of iqui-
iation prompted by a break in cotton
and weakness of securities as well
as trade uncertainty about the Gov
ernment's intentions in disposing of
large stocks of wheat and corn
caused grain prices to slump today.
Wheat and rye fell almost 2 cents
a bushel, corn and oats about a
cent or more and soybeans as much
as 3 cents before recovering part
of the losses due to late Short
covering.
Wheat closed %-7s lower than
yesterday, May 1.3oss-1a, July
1915; corn 81 down, May So
87zs, July 89A-1z; oats ST. off;
soybeans 1A-2 lower; rye 1A-14s
down, and lard unchanged to s
lower.
Wheat and rye finished almost 3
cents lower than week ago, corn
and oats about cents of and soy
beans little changed. Prices of most
grains were higher than at the start
Of the month, with rye and soy
beans showing sharpest gains.
While traders said some of the
grain markets weakness probably
reflected, indirectly, news from the
Pacific war zone, much Of the un-
settlement was attributed to trade
interpretations of the probable ef-
feet of White House request that
the Commodity Credit Corp. release
Government owned stocks OF cot
ton, wheat and corn and other COM
modities to war agencies, such as
the Army, Navy, Lend-Lease Ad-
ministration and relief organizations,
as needs require. This request will
affect cotton primarily. Inasmuch
as corn and wheat are selling be-
low parity, officials expressed be-
lief 1t was unlikely that any amounts
greater than set aside for indus
trial alcohol will be released at this
time.
BulliSh Side Seen.
Grainmen gave both bullish and
bearish interpretations to the posi-
bility that some of the c. G. G. sup
plies may be turned over to war
agencies, pointing out that while
this might relieve the c. c. c. of
stocks which it has been offering
for sale 1t also would 0bviate the
necessity of these agencies buying
in the open market. which. they
have been doing.
Most significant, however, was the
fact that the President signed the
price control bill with an under
standing that it contained no limi-
tation on powers Of the G. G. G. to
sell agricultural commodities in the
normal conduct Of its operations.
The c. c. c. is estimated to have
approximately $4,000, 900 bushels Of
old wheat, slightly less than l00,-
100000 bushels of corn and about
1000 900 bales Of cotton. Sales Of
wheat and corn in the open market
recently have tended to restrict
price gains, traders said. However.
spot wheat prices have slipped be-
low levels at which the Govern
ment is Offering its stocks, although
1see CON1ODIIIB, Page C-lo)