m 



WEEKLY MARKET REVIEW AND FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural Economics 



(Prepared November 8) 



(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.) 



Commodity Prices at Chicago 

 Cash 



futures 



De center 



(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- com ratio^ Chicago, 

 November 3 



.80 1/8 $1.77 5/8 

 1.18 1/2** 1.18 l/k 

 .70 5/8 .6U 7/8 



12.5 



12.5 



*Ceiling, prices. 

 **Nominal. No cash sales 



During the past week the demand for all grains has been especially strong. 

 Tuesday, November 6, the advance on the grain futures market was spectacular. All 

 grain futures rose sharply to new hig^ levels for the season. All com and the dis- 

 tant deliveries of rye reached the ceiling and near-by rye deliveries advanced the 

 full permissible limit of five cents for one session. The only grain that is apprecia- 

 bly below the ceiling on the futures meurket is oats. New com sells at ceiling prices 

 on the spot market, and cash oats are in brisk demand . 



Exports for relief purposes provide the special stimulus to wheat prices. 

 Shipments of wheat for relief purposes added to other types of freight traffic, labor 

 difficulties and shorter work periods have overloeided the railroads. The Associa- 

 tion of American Railroads said that more country elevators are closed for want of cars 

 than at any time in history. The soybean movement is not as serious as earliei; but the 

 picture is conaplicated by in-coming soft com and enormous quantities of grain sorghums. 

 Railro€ids are doing an excellent Jol^ but the demeaid for service Just exceeds the supply 

 of cars that. can be made available. 



Livestock receipts . Receipts of hogs at Chicago have increased rapidly dur- 

 ing the past four weeks but are still tar below last year. It is reported that prick- 

 ing plants located in Iowa and southern Minnesota came closer to matching last year's 

 output last week than those located in other regions, indicating that direct movement 

 is increasing faster than salable receipts at public markets. Ceilings were raised 

 five cents in a number of terminal markets to offset this trend. More hogs arrived at 

 ^^ Chicago on Tuesday than £uiy other day since January 23. However, demand continues Just 

 as strong as evei> and practically all hogs bring ceiling prices. 



