

WEEKLY MARKET REVIEW AND FARM OUTLOOK 



By G, L, Jordeui 

 Professor, Agricultural Economics 

 University of Illinois 

 College of Agriculture 



(Prepared November 13) 



Commodity Prices at Chicago 







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4 itL ^iX,'t 



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Item 



CasE 

 Wednesday, 

 Nov> 12, 19^1 Week ago 



December futures 

 ( close) 

 Wednesday Week ago 



Wheat (Number 2 soft % 

 red winter) 



Corn (Number 2 yellow, •73-»75i' 

 new) 



Oats (Number 2 white) A94^f50 



Soybeans (Number 2 1.62-l,64i 

 yellow) 



Butter (92 score) .37 



Eggs (current receipts) •32-s 



Hogs (top price) 10,30 



Cattle (top price) 12»75 



.72-. 75 



$1.13 7/S JI.17 



.75 5/^ 



.7^* 



Prices of most farm products were steady to higher until 

 Wednesday when there was a serious collapse in grain prices. This 

 collapse followed the publication of the government crop estimate 

 which was released after the close of the markets Monday. The prin- 

 cipal characteristic of the government crop estimate was the ^0 million 

 bushel increase in corn production and failure to show any substantial 

 decrease in soybean production, in spite of the extremely unfavorable 

 weather conditions during October. Recent rises in prices of corn and 

 soybeans had been based upon weather conditions, that is, upon an 



