Markets and Wheat Forecasts Stir Global Trade Hopes
Chicago reports on wheat prices and future outlook amid speculation about European demand and Argentina Australia movement. Officials say importing countries produced 150 million bushels more than last season, signaling stronger world trade for wheat and flour. Corn reacts to upturn and pest concerns, oats track wheat, while provisions firm with hogs. Cash wheat prices No 2 red 1.36, No 1 1.45. corn 65-73 cents. oats 45-49 cents. flour and bran notes. butter, eggs, and cotton prices provided in brief market summaries.
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New York Stock Exchange Trades Firm on Strong Demand
The New York market opened firmer with strong buying for industries and fair shares. American Telephone and Telegraph rallied on transatlantic service gains, while United States Steel dividends lifted optimism. Rail stocks rose on expectations of higher dividends as Atchison and Rock Island hit notable highs.
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Market rally leads steel shares in trading session
New York led by United States Steel, the early stock market declined before a late rally as steel shares helped lift sentiment. Wheat and corn moved with the general trend amid modest volume and ongoing concerns over earnings prospects for several manufacturers. Foreign exchange steady. sugar futures held firm. Boston wool market notes cautious optimism with demand for finer domestic fibers.
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Hog and cattle market wrap from Chicago and Los Angeles
Hogs receipts 38 000 with light hogs and light butchers higher by up to 19 cents. Slaughter pigs and heavy weights show gains to about 12.00 12.25 for feeding hogs. Sheep receipts 11 000 with fat lambs and woolly feeders trading higher. Los Angeles receipts 300 cattle calves 300 slow but steady for local fed steers and stock cattle. northern corn held above 7 dollars.
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