Markets Rally as Canadian Drought Lifts Wheat Prices
Unabated drought in Canada pushed wheat values higher while export demand and domestic cash premiums rose. Reports show futures unsettled, with some weakness at session close though gains remained in early quotes. Domestic arrivals totaled millions of bushels as Kansas City stocks rose and oats and corn mirrored the wheat trend.
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Wall Street Rally Pauses As Money Rates Jump
A sharp stock rally led by General Motors and United States Steel hit new highs before money rates surged to 6.5 percent, halting gains. GM slid to 186.5 then recovered to 188, while US Steel fell 1.4 percent. The market saw widespread gains followed by broad selling as lenders called loans ahead of month-end requirements.
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Sharp Advances Among Leaders Ahead in Markets
New York July 30 sharp advances among leaders were reported with General Motors and Steel firms leading the rally. Railroads showed strength and markets reflected expectations of solid earnings for carriers in 1926. Wheat and copper markets fluctuated with demand steadying, while wool and domestic wool prices faced mixed but firmer tones amid global market activity.
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Cattle and Hogs Prices Across Markets
Livestar Oman reports mixed cattle receipts and steady prices in Omaha with fed cattle and cutters showing narrow gains. Chicago hogs rise on strong demand while cattle and sheep show varied movements across Sioux City and Seattle regions. bond market notes also referenced.
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