Weather, Crops, and Markets. Vol. 2, No. 6

by Anonymous

WEEKLY GRAIN MARKET REVIEW.

(Concluded from page [114].)

and to Canadian ports 1,431,000 bus. Total shipments for the season to Canadian ports stand at 11,757,000 bus.

Increased offerings of oats caused prices to decline 1¢ to 2¢ per bu. during the week. The demand was light because buyers were expecting new crop prices to be lower. The general movement was not large, however, as total primary receipts were only 4,775,000 bus., or not quite one-half of the amount reported received during the corresponding week last year.

The visible supply of grain at the close of the week was given as follows: Oats, 36,667,000 bus.; corn, 19,509,000 bus.; and wheat, 19,667,000 bus. Wheat and flour on ocean passage totaled 48,936,000 bus., compared with 57,960,000 bus. one year ago.

Cotton
PRICES SAG DURING WEEK; SPOT SALES SHOW INCREASE
Reports of More Favorable Weather in the Main Cotton States Was Factor in Market.

The week ending July 29 witnessed sagging prices in cotton, due primarily to reports of more favorable weather for the growing crop. Both the railroad and coal strikes had their effect, and the unsettled condition in foreign exchange was also a factor.

The average price of Middling as determined from the quotations of the 10 designated spot markets closed at 21.69¢ per lb. on July 29, compared with 22.10¢ at the close of the previous week and 10.81¢ for the corresponding day last year. The decline in October future contracts on the New York Cotton Exchange amounted to 38 points, and on the New Orleans Cotton Exchange to 39 points. October future contracts on the Liverpool Cotton Association closed at 12.24d. per lb. on July 28, compared with 12.59d. at the close of the previous week and 8.39d. for the corresponding day last year.

The volume of spot sales as reported by the cotton exchanges in the 10 designated markets was somewhat larger than the previous week, amounting to 29,057 bales, compared with 26,939 bales the previous week and 29,715 bales for the corresponding period in 1921. The total sales reported by the exchanges in the 10 designated spot markets from Aug. 1 to July 29 amounted to 3,361,605 bales, compared with 3,303,552 bales for the corresponding period last season.

Dullness was reported to have developed in the dry goods trade, but with little change in the price levels as compared with those of the previous week.

Closing Future Prices for July 29 and for the Corresponding Days in 1921 and 1920.
Month.	New York.			New Orleans.
	1922	1921	1920	1922	1921	1920
	Cents.	Cents.	Cents.	Cents.	Cents.	Cents.
October	21.42	12.14	31.27	20.96	11.66	30.31
December	21.35	12.65	30.00	20.85	12.00	29.35
January	21.21	12.60	29.18	20.81	12.08	28.90
March	21.18	12.95	28.90	20.71	12.40	28.50
May	21.05	13.08	28.50	20.60	12.47	27.90

Spot Quotations for Middling Upland Cotton at New York on July 29, for Each of the Past 32 Years.
	Cents.
1891	8.00
1892	7.50
1893	8.12
1894	7.00
1895	7.00
1896	7.31
1897	7.94
1898	6.06
1899	6.12
1900	10.06
1901	8.12
1902	9.06
1903	13.25
1904	10.70
1905	11.05
1906	10.90
1907	12.90
1908	10.70
1909	12.75
1910	16.05
1911	13.50
1912	13.25
1913	11.95
1914	12.75
1915	9.35
1916	13.30
1917	25.20
1918	28.55
1919	35.15
1920	40.00
1921	11.95
1922	21.75

Cotton Movement from August 1 to July 28.
[Information from commercial sources.]
	1921–22	1920–21
	Bales.	Bales.
Port receipts	6,084,471	6,713,411
Port stocks	499,345	1,347,936
Interior receipts	7,224,067	7,546,577
Interior stocks	388,830	1,129,231
Into sight		11,565,262
Northern spinners’ takings		2,088,516
Southern spinners’ takings	4,126,522	2,874,678
World’s visible supply of American cotton	2,021,888	4,108,428

SPOT COTTON QUOTATIONS.
Price of Middling spot cotton for July 29 and the commercial differences in price between Middling and other grades of American Upland cotton at each of the 10 markets named, together with the total number of bales sold during the week ending July 29, as reported to the U. S. Department of Agriculture by the cotton exchanges in these markets.
		Norfolk.	Augusta.	Savannah.	Montgomery.	Memphis.	Little Rock.	Dallas.	Houston.	Galveston.	New Orleans.	Average.
White Standards:		On.[[33]]	On.	On.	On.	On.	On.	On.	On.	On.	On.	On.
	Middling Fair	200	125	125	163	225	200	200	150	250	175	181
	Strict Good Middling	150	100	100	125	150	150	150	125	175	150	138
	Good Middling	100	75	75	88	100	100	100	100	100	100	94
	Strict Middling	50	38	50	50	50	75	75	50	50	50	54
Middling		21.63	21.63	21.50	21.38	22.50	21.50	21.45	21.90	21.95	21.50	21.69
		Off.[[33]]	Off.	Off.	Off.	Off.	Off.	Off.	Off.	Off.	Off.	Off.
	Strict Low Middling	50	37	50	50	50	50	75	75	75	50	56
	Low Middling	100	100	100	125	125	125	150	150	150	125	125
	Strict Good Ordinary[[34]]	175	175	150	200	225	225	250	250	250	225	213
	Good Ordinary[[34]]	250	275	200	275	325	325	350	350	350	325	303
Yellow Tinged:
	Good Middling	Even.	Even.	Even.	Even.	Even.	[[35]]25	Even.	Even.	Even.	Even.	[[35]]3
	Strict Middling	50	37	50	75	50	50	75	50	50	50	54
	Middling[[34]]	100	100	150	175	150	150	175	175	175	200	155
	Strict Low Middling[[34]]	175	175	225	250	225	225	250	250	250	250	228
	Low Middling[[34]]	275	275	300	325	325	300	325	325	325	325	310
Yellow Stained:
	Good Middling	100	100	100	125	125	125	150	150	150	125	125
	Strict Middling[[34]]	200	175	200	200	225	200	250	250	225	250	218
	Middling[[34]]	275	300	300	275	275	275	350	350	325	300	303
Blue Stained:
	Good Middling[[34]]	150	100	150	150	100	125	175	150	150	125	138
	Strict Middling[[34]]	225	200	225	225	150	225	250	225	225	175	213
	Middling[[34]]	300	300	300	300	200	325	325	300	300	300	295
Sales for week, bales		531	233	169	472	1,200	56	7,113	7,283	6,739	5,261	[[36]]29,057

Exports of American Cotton from August 1 to July 28.
[Information from commercial sources.]
To—	1921–22	1920–21
	Bales.	Bales.
Great Britain	1,755,531	1,753,072
France	763,220	575,436
Germany	1,421,822	1,326,405
Italy	488,710	508,678
Japan	810,199	629,599
China	90,666	74,741
Spain	311,763	253,899
Belgium	172,485	195,473
Other countries	219,597	266,148
Total	6,033,993	5,583,451

Exports for the week ending July 28 amounted to 48,449 bales, compared with 96,434 bales the previous week and 157,465 bales for the corresponding week in 1921.