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WEEKLY MAEKET REVIEW AND FARM OUTLOCK 



'By G. L. Jordan 

 Professor, Agricultural Econcsmlcs 

 UhlYersity of Illinois 

 College of Agriculture 



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(Prepared February 10 ) 



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

 frcm 12:lf8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles . ) 



Ccnmodity Prices at Chicago 



••KJeiling prices. 

 **rrading in com futures is not permitted, 



Oats ceilings . The temporary price ceiling controls over oats, barley, and 

 grain sorghums have been ext.ended at the same level. However, Mr. Fred M. Vinson, 

 director of econctnic stabilization has directed the Office of Price Administration to 

 prepare a revision which will reduce these prices to parity. Under these circum- 

 stances, more oats shipments are expected. Farmers will wish to take advantage of 

 present high prices, which are conialderably above peu:ity, in view of the almost certain 

 reduction to parity levels. Such activity has not become apparent as yet, however,' 

 for there were no offerings and no sales of oats in the Chicago cash market Tuesday, 

 February 8. 



CCC to buy wheat . There has been considerable criticism of the government 

 program to divert railroad cars for the importation of wheat frcm Canada at the time 

 an insufficient number of cars were available to handle the shipments of domestic 

 wheat. To help- them dispose of their wheat, the Commodity Credit Corporation an- 

 nounced Tuesday, February 8, that it would buy wheat from farmers at a fraction of 

 a cent under ceiling prices so long as metal storage" bins were available. There is 

 considerable empty storage space available in Kansas, North Dakota, and Montaina, and 

 it seems to be in these areas where the transportation difficulties are most acute. 

 Producers will be required to stand the cost of cleaning the grain and pay the cost 

 of transportation to the place of storage. Grade differentials designated in the 

 OPA wheat price regulation will be observed, 



' Livestock receipts continue at record levels . Congested hog msurkets are 

 the rule, and there is no sign of a letup. For the month of January, receipts of 

 saleable hogs at 12 public markets were 91 percent larger than in January I9I.3. For 



