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WEEKLY MARECET BEVTEW AND FARM OOTLOOK 



By G, L, Jordan 

 Profeeeor, Agricultural Economics 

 University of Illinois 

 College of Agriculture 



(Prepared Jeuiuary 2?) 



(Highlights of the Weekly Market Review and Farm Outlook are "broadcast each Friday 

 from 12:1^8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Ccnmodity Prices at Chicago 



♦Ceiling prices 

 **Trading in corn futures is not permitted 



New soybean price $1.9^ . The support price for 19Wf crop soyheans has "been 

 announced as $1.9^ for No. 2 yellow "beans of high oil content. In other words, the 

 support price is 1*^ cents a bushel higher than last year. There will be premiums and 

 discounts for No. 1 and off -grade beans. The whole project, however, is tied up with 

 and dependent upon the extension of the life of the Ccoinodlty Credit Corporation and 

 its finances and powers. At the present time, the effort to extend the life of the 

 Commodity Credit CorporaticHi is tied up with the subsidy fight. It is expected, how- 

 ever, that there will be seme sort of a ccmpromiee on the subsidy matter and that the 

 Commodity Credit Corporation will be given the funds and permission to support prices 

 of agricultural products greatly needed in the war effoort. If weather conditions are 

 as favorable for growth and harvesting as they were in 19*^3> farmers in this area 

 should be able to get approximately $2 a bushel for No. 1 beans, compared to about 

 $1.09 for com. "niis still leaves soybeans at a slight disadvantage on the basis of 

 our cost of production figures. However, soybeans do provide seme drouth insurance 

 conpfiured with com, and farmers have responded ftreely to specified war needs. It is 

 probable, therefore, that we shall ccoie near reaching the soybeeui goal for 19^. 



Sggs . The egg situation has improved scnewhat. The War Food Administration 

 Tuesday confirmed an earlier report that it had instituted a car lot egg-buying program* 

 to be nation-wide as a feature of the premised egg support program for 19*<4. It is also 

 expected that the export business should be good throughout the year as a result of the 

 liberation of Nazi -subjugated countries. The October future in eggs showed more 

 strength than current cash prices. 



