Markets News: Corn Wheat Prices Rise and Fall
Market notes show corn and oats fluctuating while wheat receives steady support. Prices remained volatile throughout the day as traders reacted to shifting demand and supply signals.
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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Feb 07, 1925
Page
10
Market notes show corn and oats fluctuating while wheat receives steady support. Prices remained volatile throughout the day as traders reacted to shifting demand and supply signals.
A sharp drop in wheat values rattled Chicago markets on Feb 6 as short selling and scarce new buying pushed prices down. May wheat traded around 1.56 to 1.86 dollars, with other grains slipping. reports noted heavy order flow and a semi-panic that drove prices lower before a late rally. Prices for corn and oats also declined, while cash bids showed mixed but generally softer tones across No 2 hard and yellow corn, with flax and other grains listed in Minnesota and Duluth markets.
Early trading showed a strong start with gains in United States Cast Iron Pipe Nash Motors and others while some large issues slipped. Copper shares advanced on bullion buying with American Smelting and Refining crossing 102. General Motors led gains in the motor group. Call money rose to 4 percent as funds tightened for week-end financing amid reports of a federal probe into recent gasoline price moves.
Wide varied stock demand noted as traders cite confidence amid a day of price declines. Sharp drop in crude oil output and transfers from storage influenced activity alongside notable moves in automakers and steel shares.
Hog prices show uneven, downbeat tone with most weights under 260 to 320 pounds. Packers and stockers mixed, cows and heavy heifers slow, feeders scarce but mild firmness in some steers. Sheep receipts strong with fat lambs lower, western lambs earlier sales steady to weak on light demand.
Market reports show best lambs at 18 dollars with top beef cattle around 18.60 per cwt in St Paul, feeders and stockers steady, hogs trading around 9 to 10 dollars, and canners and cutters down to 2.60. Portland receipts light, cattle steady, sheep slow, hogs firm, and Budapest’s population described as mostly clerks or day laborers.
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