3^9. / 



v;eekly market review md fahI'I outlook 



By Gr, L. Jordan 

 Professor, Agricultural Economics 

 University of Illinois 

 College of Agriculture 



(Prepared December 19) ^t>^ -^- 



Commodity Prices at Chicago^---'— -■ 



^^ce/ve|r^ 



OtC^ 



J94 



^Z$S^ <*5r«c« 



M 



Item 



Cash 



Thursday 



Dec, Ig, 19^1 Week ap:o 



May futures 

 (close) 

 Thursday Week age 



Wheat (Number 2 soft 

 red winter) 



Corn (Number 3 yellow, 

 new) 



Oats (Number 2 white) 



Soybeans (Number 3 

 yellow) 



Butter (92 score) 



Eggs (current receipts) 



Hogs (top price) 



Cattle (top price) 



.57-. 574 



$1.26 i/g 



.S3i 



.7^ 3/^.7^^ 



.56 3/^57 3 A .56i 



1.61-1. 6^1- i.7^l.75i 

 .3^ lA 



1.7^- 



.3^ 3 A ;327C^ 

 (Jan. ) 



.31 lA .334 .3105, 



(Jan.) 

 11.25 11,00 



$1.30 

 .g^ 7/g 

 .56 3 A 



l.gl 7/S 



.3375^ 

 (Jan. ) 



.3235^ 

 (Jan. ) 



1^4-. 50 



1^1-. CO 



The past week was characterized by extreme declines in the 

 prices of wheat, soybeans, and eggs; steady prices for corn and oats; 

 and higher prices for hogs and cattle. Upon the declaration of war, 

 prices of soybeans and soybean products, lard, and feed grains rose 

 rapidly. Wheat also participated in the rise. However, the trend was 

 reversed when the Office of Price Administration set upper limits for 

 fats and oils far below the then current prices. In general, prices of 

 corn-belt farm products have not recovered from that shock; in fact, 

 soybean and feed grains are actually worth less now than they were on 

 December 11, because of the limitation on the price of soybean oil and 

 lard. Wednesday the government also indicated the basis upon which it 

 was willing to release government owned wheat. This will have a tendency 



