Grains Rally After Early Sell Off In Chicago Trade
Chicago cash grain prices show a rebound after an initial drop. No. 2 yellow corn and No. 1 heavy white soybeans appear with varied quotes as traders reassess demand and supply factors.
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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Jan 18, 1951
Page
14
Chicago cash grain prices show a rebound after an initial drop. No. 2 yellow corn and No. 1 heavy white soybeans appear with varied quotes as traders reassess demand and supply factors.
Cattle and calves were strong with higher bids for slaughter steers and yearlings. Prices ranged with top reports near 35, while stocker calves sold around 25 to 30. Bulls and cows moved up to mid 20s, with feeders and lambs showing solid demand amid light supply.
In the United States more than 600 life insurance companies operate, reflecting a crowded market with numerous players across the industry.
The market climbed to new highs as a broad majority of stocks moved upward despite late selling that trimmed gains. The Associated Press average reached a record high for the nine-session period, with the industrial and railroad components rising while utilities held steady.
Liberty Hill announces Boy Scout Troop No. 19 has been rechartered under Cycus Mather Post 619 American Legion. Commander James F. Purser welcomed officials and installed the troop committee with D W McLendon as chairman and W K McClain presenting badges. Robert Martin and Wayne Smith were elected scoutmaster and assistant scoutmaster.
Cotton prices fluctuated Wednesday with final bids 65 cents to 50 cents per bale differing from the prior close. Traders cited Washington talks on tighter controls and a possible price wage freeze, along with unsettled foreign developments.
Memorial service for General Walton H. Walker, former US Eighth Army commander, will be held in Tokyo on January 23. The event is sponsored by Kokichi Mikimoto, known as the Pearl King, who says the service expresses the gratitude of the Japanese people. Walker died in a jeep accident near Seoul on December 23.
Wool tops and wool futures rose on a steady day in New York trading. Estimated wool sales reached 480000 pounds with futures volumes around 562000 pounds as bids and offers moved, with May July and December prices quoted in the 300s and 390s per unit.
New York stocks firm rally surplants early selling. Bonds mixed with selective issues in demand. Cotton quiet with liquidation and profit taking. Chicago wheat closed firm as China rejects cease fire proposal. Corn and barley steady as cash grain demand falls. Oats firm but selling pressure eases. Hogs slow and down 25 to 80 cents, top 21.65. Cattle steady to 50 cents higher, top 40.75.
The San Marcos Baptist Association will hold its monthly workers' conference Thursday morning at Central Baptist Church in Luling. Principal address by Dr. C. S. McKinney of Martindale. Also on the program are Rev. W. L. Perdue, Mrs. Francis Clay, Mrs. Henry Dismukes of Luling, and Mrs. R. B. Reed of San Marcos.
In New Braunfels on January 17 the Comal County March of Dimes began with strong results. The first event, the Block-of-Dimes sponsored by the Jaycees, raised 766.70 dollars in initial receipts, reported by county chairman Bob Abshire and treasurer Herbert Schneider.
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