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 |