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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 20, 1927
Page
12
Grain markets surged with corn leading gains as heavy rains and storms hit key growing regions. May delivery jumped and a car of No 2 corn sold at 90% cents, while forecasts of further rain threatened more planting delays and kept prices volatile across wheat and provisions.
Newswire style roundup from Chicago and New York on May 19 covering stock receipts and old stock supplies, mixed foreign exchange rates, and commodity pricing. Highlights include U S shipments totaling 143 cars, Wisconsin sacked russets and hoosier items, Georgia and South Carolina barrel cobblers, and downward wool price trends amid cautious demand.
In a volatile Irregular stock market on May 19 the rise of high priced industrial and railroad shares overshadowed losses. New peak prices appeared for over 50 issues while New York traction stocks slid to 1927 lows. Traders noted heavy profit taking in GM after crossing 200, and Equitable Office Building preferred rose on higher convertibles. Rail earnings and unification hearings added to cautious sentiment as wheat and cotton futures advanced on weather reports and foreign exchange moved with yen weakness and kroner demand.
NY market saw broad activity with General Motors and Baldwin hitting new highs before noon. Petroleum shares weakened amid talks of potential home financing for producers. overall sentiment firm by close. Wheat and corn at new seasonal highs amid strong export demand and weather expectations. oats and rye posted gains as cash demand remained healthy.
United States Department of Agriculture reports show cattle and hog receipts in Chicago, South St. Paul, Omaha, and Portland with prices rising in some grades. Highs include fed steers around 13.78 to 18.50 and hogs near 9.75, while羊 lambs and sheep show varied demand. Receipts total several thousand head across markets, with heavier weights often bidding higher and lighter lots mixed.
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