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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Aug 03, 1926
Page
10
Markets, mining and financial news report a surge in expected winter wheat harvests boosting supplies. Wheat futures slid despite higher production outlooks, while corn and oats fluctuated and soy provisions fell. Cash grain prices showed mixed shifts as weather and Canadian crop news added selling pressure.
New York stock movement rose amid a sensational rise in a major automotive issue and optimistic earnings notes by a banker. Steel and automobile shares led gains, while profit-taking appeared in some blocks. Money rates and foreign exchange were mixed as traders priced in higher expectations for late 1920s market activity.
New York Aug 12 General Motors led the market with an all time high above 200 in closing figures. Oil shares drew demand amid signs of accumulation while railroad stocks showed constructive tone. Wheat and corn markets faced mixed notes with heavy western receipts and divergent crop estimates affecting prices.
Livestock receipts show 44 000 hogs with mixed weights and prices. Hogs mainly 210 pounds and up trading around 12.30 to 12.78, with heavy weights around 12.50 to 13.50 for select lots. Cattle and sheep receipts noted, cattle in moderate supply with steady to higher bids, vealers and feeders varied, sheep steady to higher, overall market described as uneven but improving in parts.
The Associated Press reports New York metal prices with copper dull for spot and futures. tin steady near 64.126 and 63.600. iron steady with No 1 northern 21.50 and No 2 northern $1. lead steady at 5. zinc steady at 7.42 to 7.45. antimony spot at 166 amid mixed collateral and 4% closing bids noted for loans.
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