Wheat markets fall on larger yield estimate and shipping talk
Wheat prices weakened as unofficial estimates put 1926 production 15 to 21 million bushels above government forecasts. Market sag continued on fears of a Duluth railroad embargo and softer European demand. Corn oats and provisions also slipped with mixed futures for December and May contracts.
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Associated Press
Chicago
Duluth
Via
Australia
Great “Britain
Turkey
Stock Market Rebounds Amid Renewed Hope After Rate Cut
NY stocks climbed as relief over Bank of England rate cut eased fears. Motor and rubber shares led gains with Dole and U S Steel among top advancers. U S fluction: sterling fell briefly to 4.83 plus recovery, Belgian francs supported by stabilization loan talk.
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England
Change in Money Rate Has Effect
Irregular early session gives way to a later rally as the call money rate moves to 6 percent after touching 514 percent. Rail group shows Improved demand with heavy carload figures. Bank of England rate cut and London market response cited as supporting covering moves. English rate change expectations noted. not seen as immediate rediscount rate shift. Industrial reports lean constructive with carloading, oil figures and firmer red metal. iron products windfall cut noted. Wheat and corn futures show mixed movements with demand and export watch. oats weaken with spot demand steady. Foreign exchange irregular with Britain, France, Italy and Belgium quotes. London copper and electrolytic prices listed.
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Bank of England
London
Hain
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Ing
Livestock Prices Across Markets Reported by AP
Chicago hogs receipts 25 000 uneven prices down. cattle 11 000 receipts meager finish up. sheep demand active with bulk lambs around 15.25 to 15.50. St Paul cattle receipts $9.60 top, hogs 11.90 to 12.65, sow and feeder activity noted. Omaha hogs mixed, 12.50 to 13.60 top. cattle steady to strong with fed steers around 12.25 to 12.50 and grass steers scarce.
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Market News cattle and sheep receipts across cities
Cattle and hog receipts across Spokane Denver and Los Angeles show markets generally steady to unchanged with mixed quality. Prices include cattle ranges from $4.50 to $11.50 for various classes, sheep fat lambs around $7.60 to $15, and hogs averaging near $12.50 to $14.75 depending on weight and grade.
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