Wheat Market Surge Boosts Harvest Ahead Of Grains Trade
Markets show a fresh advance in wheat prices as harvest activity increases. Traders cite improved demand expectations and weather prospects that support the rise in grain futures.
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Newspaper
Muscatine Journal
Location
Muscatine, Iowa, United States of America
Date
Jun 27, 1928
Page
10
Markets show a fresh advance in wheat prices as harvest activity increases. Traders cite improved demand expectations and weather prospects that support the rise in grain futures.
Weather improves for northwestern crops but rains slow harvest in the southwest. Wheat prices ease 1-2 cents after late gains, with corn oats and provisions showing mixed movements. trade notes large arrivals at interior markets and strong near term demand. Cattle hog and sheep quotes included from Chicago Omaha and other markets.
Chicago grain prices list No 2 mixed corn 1.94 No 3 mixed 1.91 to 2.02 No 5 mixed 0.97 No 2 yellow 1.14 to 1.05 No 3 yellow 1.03 to 1.04 No 4 yellow 1.02 to 1.03 No 6 yellow 0.97 No 2 white 1.05 No 3 white 1.91 to 1.92 No 4 white 1.01 No 6 white 0.85 to 0.95 oats No 2 white 0.72 to 0.73 oats No 3 white 0.63 to 0.64 rye no sales barley sales Timothy seed 4.10 to 4.75 Clover seed 20.75 to 28.00 lard 12.1 percent ribs 12.75 bellies 14.12
Minneapolis grain market notes prices for No. 1 northern at 1.35 to 1.61 dollars, No. 1 fancy northern at 1.35 to 1.75, No. 1 hard spring 1.354 to 1.774, and corn No. 3 yellow at about 1.98 to 4.04 dollars. Oats No. 3 white runs 0.62 to 0.66 dollars.
Minneapolis flour market notes June 27 report unchorted shipments totaling 30,129 barrels with bran priced from 29.50 to 39.00 dollars. Prices reflect market stability and limited movement in grain products in Minneapolis Minn.
Local markets report from Swift and Co. Poultry shows hens four pounds and up at 18 cents per pound, with leghorns and blacks and cocks and hens listed. Livestock quotations vary with prime butcher packers at 8.60 to 88.00 and averages around 10.25 for 189 to 309 pound weights, no market on common grades.
Butter receipts fall with prices ranging from 38 to 43 cents for various grades. Egg receipts down to 370 cases with firsts at 26 to 28 1 2 cents. Poultry alive firm with mixed carload prices. Potatoes on track with slower U S shipments. market weak overall. Bliss varieties command 1.00 to 1.40 per barrel. Irish cobblers quoted around 2.19 to 2.60 per barrel depending on type and quality.
New York on June 27 reports butter and cheese receipts with grades and prices for creamery butter and state whole milk flats. Supplies include 42,988 cases of various eggs products and livestock receipts: cattle 8.0% head, hogs 31.0M head, sheep 14,000 head.
Chicago market news shows hog receipts 19.0% higher with slow demand and lower prices for most lots. packing sows steady. Choice hogs 209 to 250 lbs paid $12.90. butchers range $10.00 to $10.90. sows $8.60 to $9.65. pigs $7.75 to $9.25. Cattle receipts 6,590 head calves 2,500 head. all classes higher with steers and yearlings up. butcher and good grades quoted. Prices cited for 1100 to 1300 lb steers $15.25 to $15.30, 950 to 1100 lb steers $14.90 to $15.25, 850 lb and up $13.75 to $15.25.
Hogs receipts total 14 000 head with top prices around 10 75 for 199 pound hogs and 10 65 to 10 75 for similar lots. Cattle receipts 2 500 head with calves 1 500, steers and yearlings active and firm to slightly higher on some grades. Sheep receipts 4 000 head with little selling and bid lower. fat lambs seen steady to lower.
South St Paul Minnesota cattle receipts 2000 head fed steers yearlings light supply quality plain early 14.50 high for years bulk steer 12.00 to 13.50 fat cows 7.50 to 8.75 heifers 8.75 to 10.59 calves 0.50 up. Hogs receipts 12900 head opening 15 to 25 lower bids mostly 9.75 to 10.25 early top 19.25 sows 8.75 pig prices steady bulk 7.75. Sheep receipts 600 head slaughter lambs 250 lower bulk better grades 15.59 culls 10.50 sheep steady 6.50 for fat ewes by weight.
Houston reporters describe Day Two of the national conclave as hot and humid with temperatures in the mid 80s and a record 89 humidity at 7 am. The afternoon peak reached 91 before a thundershower cooled the city to 66, then 71 by morning and 84 by 9:30 am, offering little relief.
The market opened higher as copper shares led the advance with Calumet and Arizona Kennecott Copper and International Nickel up a point or more. Radio General Motors U S Steel and Postum followed with gains as Case Threshing Machine rose two points while Adams Express Montana Power and American Express climbed.
Houston dispatch describes Iowa delegates frustrated by crowded lodging at hotel Rice Tennison and Lee, limited sergeant at arms access, and scarce tickets. It notes Herring Meredith faction tensions, Marsh operations, and attempts to secure rooms for rest. Cowboys and bands entertain amid political maneuvering.
AP dispatch from Houston reports Smith supporters optimistic about a first ballot nomination possible by Thursday. New York leaders foresee nominating him at the convention with delegates moving to accelerate balloting while Smith headquarters signs point to an inevitable nomination.
Roosevelt plans to second Smith with six speakers six or five men and one woman Nellie Tayloe Ross former Wyoming governor will support Smith and is described as a dry. Senator Barkley of Kentucky also expected to second Smith another dry. Only one nominating speech allowed before Smith’s name is presented Arizona will yield to New York Alabama comes first in the roll call order.
The Hershey hospital alumnae association thanks business men and friends for donations and assistance at their lawn social and dance held last night.
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