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WEEKLY MARKET REVIEW AND FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural Economics 

 University of Illinois 

 College of Agriculture 



(Prepared March 2) 



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

 from 12:14-8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Commodity Prices at Chicago 



Cash 



Wednesday 

 March 1. 19^1^ 



May futures 



(close) 

 Week ago Wednesday Week ago 



Wheat (No. 2 hard red winter) 

 Corn (No. 3 yellow) 

 Oats (No. 2 mixed) 

 Butter (92 score) 

 Eggs (current receipts) 

 Hogs (top price paid) 

 Cattle (top price paid) 

 Hog- corn ratio, Chicago, 

 February 26 



$1.71 7/8*** 



.Ifl* 

 .32 

 13.90 

 17.00 



$1.71 7/8*»* $1.70 3/4 

 l.llf 3A -** 



.80 5/8 

 .ifl* 

 .32 

 lU.OO 



17.00 



11.8 



$1.69 1/2 

 .79 7/8 



^Ceiling prices. 

 ♦♦Trading in corn futures is not permitted. 

 ♦♦♦Bids --no offers. 



Soybean price ceilingg . The new regulation controlling the price of soy- 

 beans of the I9I+3 crop that are to be processed for oil permits a maximum of the 6 

 cents storage charge over the previously announced support price. The present ceil- 

 ing for producers of No. 2 yellow and green soybeans with Ik percent moisture is 

 $1.86 per bushel. The maximum is $1.92 for the highest grade. The celling price on 

 19^2 crop soybeans remains at $1.66 per bushel. In other words, it is not possible 

 to hold beans from one crop year to another and get the higher price allowed on the 

 later crop beans. Slight increases were also allowed marketing agencies, but they 

 will not affect the price received by the farmer. Soybeans sold as seed for the l^kk 

 crop or for human consumption or exported are not covered by the new ceiling. 



Slight revision in com price ceilings . The Office of Price Administration 

 announced an amendment to the new regulation covering corn prices. It makes the fol- 

 lowing changes: (l) The use of formula prices is limited to setting maximums for com 

 locally produced at any point, rather than for corn shipped to or through a point from 

 other areas; (2) it supplies methods of detenaining maximum prices for com to be 

 moved by barge. The amendment also permits compensation to a producer who loads com 

 aboard a rail car or barge by adding 1 cent per bushel to his maximum prices and ex- 

 tends formula prices for mixed grains to apply to grains containing any percentage of 

 corn. It was fonnerly limited to mixed grains containing 50 percent or more of com. 



Ccanmodity Credit Corporation extended . The President has signed the bill 

 :;xtending the life of the Commodity Credit Corporation until June 50, 19^5^ without 



