Salt Lake Telegram | 1931-03-10 | Page 16 | Grain Prices Fall as Corn Weakens

GRAIN PRICES FALL FALLAS AS Selling Broadens After Early Advance Traders Watch Estimates By JOHN JOUl P. P Associated Press Fress Market Editor CHICAGO March 10 P iF Grain prices tumbled back baci late Tuesday led by corn Soiling selling broadened out alter after an early advance and buying proved Inadequate to absorb the in increase increase in- in crease largely the result of at attempt attempt at- at tempt to realize profits Wheat gave way with corn and on talk that before the tho new wheat crop commenced com coin to move great efforts would be needed to relieve the market of old stocks Corn closed heavy 8 3 8 cents lower wheat unchanged to 8 3 cents off oats unchanged to 8 1 cent down and provisions unchanged to 47 cents setback Traders focused attention largely on official estimates showing that farm stocks of corn totaled bushels less than thon had been looked for Little notice was taken of tile the fact that the tho official esti- esti bate of farm supplies of wheat was bushels larger than ex cx- cx Some Some- authorities said the reason wheat tailed failed to respond to the tho official figures on farm stocks was that wheat prices were already so depressed that hardly anything could conic have a further bearish effect An advance in Argentine exchange rates making wheat prices there ap appear rip rip- pear higher was a handicap to bears Scarcity of future delivery offerIngs offerings offer offer- ings was a feature of the corn com market market mar mar- ket and prices soon scored more than a full Cull cent advance Corn mary receipts amounted to only bushels compared with a week ago and at this time last year Chicago had but 97 cars against a week back and on the corresponding corresponding cor cor- responding day of Oats sympathized sympathized sym sym- with upturns of corn and wheat Big cold storage stocks of meats depressed the provision market notwithstanding notwithstanding not not- withstanding upturns in hog values RANGE OF LEADING FUTURES high Low Close March Old 3 3 61 61 J 2 do new 63 03 62 May Mar Old 83 J 83 64 do new 66 M 05 65 July 68 k 66 68 66 69 WHEAT WHEAT- March old 79 79 79 do new i 79 79 79 79 May old st HIS i do new 3 33 82 82 July 63 63 64 September 64 63 OATS OATS- Starch March old 2851 29 29 May Old 32 33 31 i 31 do new ney a 32 32 32 July 32 32 32 32 Vj 32 32 RYE RYE- Starch old May old 40 July 41 41 it 42 March May 1111 BELLIES BELLIES- May 1112 1113 11 July 1130 1123 1130 MINNEAPOLIS March 10 AD Wheat AP-Wheat Wheat receipts receipt cars compared to Ill s year ago Cah No 1 I northern No 1 I dark daric northern 13 per cent protein v 14 per pr cent protein 73 13 per cent protein 73 12 1 per cent protein No 1 dark hard HOD- HOD op tana 14 per protein 13 i 10 arrive 70 No 1 amPer durum No 3 amber No I red durum v 63 7 f Slay July Sep 63 Corn Corn No 3 yellow Oats Oats No 3 l white i Barler Barley Si 31 53 Bre Rye No 1 Flax Flax No 1 KANSAS CITE KANSAS CITY March 10 50 AP 90 cars cars- No 2 dark hard bard nominally es No 3 3 nominally 68 fib 2 3 hird No 3 M i 5 No 2 red 73 No 3 72 Close May July 67 September 37 H Corn Corn 39 cars I higher to tot t 4 lower No Ho 3 2 white 57 No lb 3 3 i No 3 2 yel ye- low 57 37 i No 3 No 2 3 mixed nominally No 3 3 close May 9 i July 61 September Oats 2 2 ears cars unchanged No ho 7 2 white nominally No 3 32 Rye Rye Nominally Nominally 43 i Barley Barley Nominally 39 CASH S CHICAGO Starch March 10 AP API No I 1 hard 7 No 1 mixed 77 Com Corn No 3 mixed No Ho 2 ye yel- yel low lov 63 No 3 2 yellow old Oats No 3 2 white 31 Vt Rye No Ilys-No No sale Barley 37 61 Timothy sed seed Clover need Lard Lard 18 95 Rib Ribs S 1180 Bellies Ll LIVERPOOL 1 March 10 Ap P wheat 1 Mn lop 87 j white Karachi Brazil Victorian 73 beat March close 63 October