WEEKLY MAEKET REVIEW AND FARM OUTLOOK 



By G, L, Jordan 

 Professor, Agricultui^l Econorolce 



(Prepared July 5) 



(Highlights of tho V/eekly 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, 580 kilo- 

 cycles.) 



Wheat (No. 2 red) 

 Corn (No. 2 yellow) 

 Oats (No. 2 white) 

 Butter (92 score) 

 Eggs (current receipts) 

 Hogs (top price paid) 

 Cattle (top price paid) ■ 

 Hog-corn ratio, Chicago, 

 June 30 



Commodity Prices at Chicago 



Cash 



Tuesday 

 Jul y ^, 191^5 



> 1.70 l/k*** 

 1.18 1/2** 



.73** 

 .Ul* 



.555* 

 li^.75* 

 18.00* 



Week ago 



September futures 

 (close) 

 Tuesday Week ago 



1.79** 

 1.18 l/2» 



.71** 



M* 



.555* 

 1^.75* 

 17.90 



12. U 



$1.64 5/8 

 1.18 1/2* 

 .6k 5/8 



$1.64 3 A 

 1.18 l/2» 

 .63 5A 



♦Ceiling prices, 

 **Naniinal, No cash sales. 

 ♦*^W9W wheat, graded No. 2 red, tough. 



Wheat receipts are rather large at southwestern markets but they are being 

 used to fill previous contracts and are not a serious price depressing factor. It 

 seems that mills have so many orders for flour that the demand for wheat holds up well 

 in the face of rather large receipts. The crop is late in the main winter wheat re- 

 gion, but yields may be a little larger than wore forecast a few weeks ago. The trans- 

 portation situation has improved as more box cars have become available. The fact 

 that west -bound war freight is heavier than east-bound makes possible the availability 

 of box cars for shipping grain from the southwestern area eastward. Friday, June 29, 

 the Santa Fe reported that it had moved 1,600 more cars of wheat since June 15 than 

 during the comparable period last year. 



Wheat and rye goals announced . The national wheat goal for 19^6 is from 67 

 to 70 million acres. The 19^5 prospective acreage is 68,6 million. It is estimated 

 that the 1946-^7 requirements for food, industrial and other nonfood uses, exports 

 and reserves, will require a production of wheat at least equal to this year's record 

 estimated output of 1,085 million bushels. Requirements are expected to be heavy dur- 

 ing the months ahead particularly for relief feeding. The demand may decline scxnewhat 

 before the 19^6 wheat crop moves to market, but the size of the 19^6 goal would indi- 

 cate that the government expects the demai:d to be sustained throughout another year. 



The national goal for rye to be harvested for grain in 19^6 is 2,8 million 

 acres compared with an Indicated harvest of 2.2 million acres in 19^5. Farmers are 

 asked to plant as much acreage to rye to be harvested to grain as is consistent with 

 needs for other crops. The goals for wheat and rye for individual states will be 

 worked out by federal and state agencies. 



