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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Sep 01, 1926
Page
10
Wheat futures ease as month end liquidations press prices lower. Reports of clearing weather in Canada dampen the market while Winnipeg receipts and export sales offer mixed support. Corn and oats rise slightly with demand from shorts, while provisions stay steady.
Unexpected strength in New York trading drove a rally led by rail stocks with gains near 20 year highs. Major issues including Chesapeake and Ohio Baltimore & Ohio and General Motors climbed as traders anticipated continued earnings strength despite unchanged official rates at six percent.
In New York on August 31 the carrier section led deal activity with Atchison 1 and Blair route stocks advancing as part of a broader market rebound. Delware Vinton posted gains in the advance department, aiding a general recovery amid strong oil sector news and rising cash demand. Wheat moved unevenly with early selling then a partial recovery as export sales and weather conditions influenced prices.
August 31 market notes from Omaha Chicago and other cities show hog receipts around 19 000 with uneven demand and prices mostly lower. Cattle receipts 12 000 with steady to higher bidding on fed steers and yearlings. Sheep 26 000 with softer values on certain grades and steady overall. International currency quotes and metal prices also reported for the day.
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