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WEEKLY MARKET REVIEW AND FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural Economics 



(Prepared October l8) 



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

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

 cycles.) 



Commodity Prices at Chicag^o 



Cash 



Wednesday 



October 17 1 19^5 Week ago 



December futures 

 (close) 



Wednesday 



Week ago 



Wheat (No. 2 red) 

 Com (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, 

 October 15 



$1.80 1/2** 

 1.18 1/2** 

 .69 1/2 

 .Ul* 



.39- Al 1/2 



IU.85* 



18.00* 



12.lv 



$1.80 1/2** 

 1.18 l/2*» 



.71 lA 

 .in* 



.36-. 59 



liv.85* 



18.00* 



12.0 



$1.76 7/8 $1.77 5/8 

 1.18 1/k 1.18 1/2* 



.65 7/8 .67 1/W 



♦Ceiling prices. 

 **Nominal. No cash sales. 



m 



Grain prices rose to a new high level followed by some reaction in prices of 

 futures. Cash grain prices remained strong, with all grains in strong demand. The 

 recent spell of good drying weather has been very favorable to the com crop. The 

 trade is of the opinion that the soft corn will be fed on farma and that more good 

 com will come to meirket than last year. Currently offers are being made for com at 

 celling prices plus all permissible charges for com shipped as far ahead as next 

 February. However, as more com comes to market, the demand for other grains may de- 

 cline somewhat. 



In view of the extremely large crops of wheat and other grains this year, 

 the probability of exports will be one of the principal determining factors affecting 

 prices. At the present time the government is paying ceiling prices for wheat, and 

 all other buyers are obliged to do the same. Most of the exports of grain have been 

 from government -owned stocks. The UNRRA has indicated that purchases of one million 

 sacks of flour will be made in the United States for November shipment, if fimds axe 

 made available. 



The October 1 report of stocks of grain on farms shows that feeding of com 

 was heavy in the July- through-September period. Com disappearance was 86 million 

 bushels more than for the corresponding period last yecur. The com was fed to an in- 

 creased number of hogs and poultry, cuid hogs were fed to heavier weights. The large 

 livestock population and the favorable hog-corn feeding ratio will sustain the demand 

 for com for many months. ^ 



A surplus of turkeys is in prospect this fall as a result of reduced army 

 requirements . 



