St. Joseph News-Press from St. Joseph, Missouri • 16

TOT" TV HMHIKgggAGRI CULTURE BRIEFCASE Market in brief September 12, 1994 DOW(lndustrials) NYSE Big corn, harvests soybean predicted lower than Friday's close; 1-3 230-260 lb 35.00-35 50; 1-2 210-220 lb 32 00-35 00; 1-3 220-230 lb 34 2-3 260-270 lb 34.00-35.00; 270-280 lb 33 00-34 00 Sows steady to 1.00 higher; 1-3 300-500 lb 22.00-25 00; over 500 lb 26.00-30.00. DOOGE CITY, Kan. Trade slow. Compared with Friday, slaughter steers and hellers steady. Inquiry good, demand moderate early, light afternoon.

Sales confirmed on 2,500 slaughter steers and 1.800 slaughter heilers Monday. Week to date Including late Friday and over the weekend 11,700 head. Sales FOB leedlot net weights after 4 percent shrink. Slaughter steers: mixed select and choice 2-3 1125-1300 lb 68 00, pen brahma cross 67.50. Slaughter heifers: mixed select and choice 2-3 975-1060 lb 68 00.

Livestock futures Associated Press Live Beef Cattle Contact Nel Month High Low Close Change October 71 30 69 65 69 75 86 December 70 25 68 82 69 12 63 February 68 65 87 50 87 55 60 April 70 15 89 22 6925 50 Feeder Cattle September 75 05 73 75 73 85 67 October 74 90 73 50 73 60 85 November 76 15 74 80 74 80 80 January 75 46 74 35 74 45 .75 Hog Futures October 38 65 38 30 38 40 .22 December 39 70 39 27 39 82 .05 February 39 95 39 72 39 77 .10 April 39.35 39 15 39.20 .02 LIVESTOCK Barrows and gilts sell $1 lower Associated Press Barrows and gilts sold $1 lower Monday compared to sales Friday at the St. Joseph livestock market. Receipts were 1.200. US 1-3 230-270 lb 36.00-36 50; 2-3 package 277 lb 35.50; 2-4 package 295 lb 33 50 Sows under 500 lb 50 higher, over 500 lb 1 00-3 00 higher; 1-2 300-500 lb 26.50-27.00; 1-3 500-550 lb 28.00; 550-700 lb 31 00-32 00. BOARS 270-700 lb 27.50; 200-270 28.50 Cattle Quotations for Monday: Reciepts: 400.

Compared to Wednesday of last week, slaughter steers and heifers steady to firm. Slaughter cows and bulls steady. Slaughter steers: choice 3 1100-1325 lb 64.00-65 50, package 67.25: choice with select end 3 1050-1200 lb 63.00-64 00; choice 3 Holsteins 1987 tb 50 00 Slaughter heifers: choice 3. few 4 1000-1200 lb 63.75-65.00. Slaughter cows: high cutter, utility and commercial 1-3 boning 41.00-47 00, high cutter 48.25-51.50; oilisi eult6.3 3700 41.00.

high cutter 42.00-44.75. Slaughter bulls: yield grade 1 130(M900 lbs 62.50-60 25, high dressing 62.50. JEFFERSON CITY, Mo. Hogs: estimated receipts 12,000. Barrows and gilts steady to 50 AMEX 7m MidCap 7 NYSE Diary NASDAQ sflL4l Advances: 733 Declines: 1,404 Unchanged: 757 tion in France and increased de-: mand by South Korea, the department said.

Corn price projection up Because of those factors, corn, prices are projected to range from; $2 a bushel to $2.40 a bushel, up a' nickel on each end from last The record U.S. soybean pro-; duction, beating the previous rec-! ord of 2.19 billion bushels set in; 1992, occurs against a backdrop of; record world production. Still, the department lowered its projection of foreign harvests 2 percent because of a sharp reduction in India's crop, and smaller reductions in Brazil, Ar gentina and Mexico. The department projected soybean prices at $4.75 a bushel to $5.75 a bushel for the 1994-1995 season, the same as last month's projection. The projection for soybean oil was raised but remained the same for soybean meal.

I Wheat price range rises Wheat prices were projected to range from $3.10 a bushel to $3.60 a bushel, up 20 cents. Canadian; and U.S. exports will benefit from a smaller Australian crop, the de- partment said. Production of durum, a spring variety, was forecast at 97.65 million bushels, down slightly from August. Other spring wheat was forecast at 593.2 million down 4 percent from the August forecast.

Associated Press WASHINGTON Corn and soybean growers can expect big harvests this year, the Agriculture Department said Monday, projecting higher prices for corn because of improved domestic and foreign markets. The department forecast the corn harvest at 9.26 billion bushels, up fractionally from the initial August figure. The department forecast the soybean harvest at a record 2.32 billion bushels, up 1 percent from August. Soybean yields were projected at a record 38.2 bushels per acre. Wheat forecast cut The department lowered its wheat forecast 1 percent to 2.36 billion bushels, because of declines in the harvest of durum and other spring wheat.

The forecast is the final for this year's wheat crop. However, total demand for wheat will probably remain constant because larger exports are being offset by lower domestic use, the department said. The corn forecast calls for the second-largest crop since the 1992 record of 9.48 billion bushels. But the forecast is also 46 percent above last year's disaster-shortened crop. Although corn is up, the forecast for grain sorghum, another livestock feed, is down.

Also, less wheat is expected to be used for feed. Moreover, export prospects are up because of lower produc lion metric tons of wheat last year. The world's surplus wheat stockpile will dwindle by next May 31 to 119.4 million metric tons, the lowost level in 13 years, the USOA said. Stocks stood at 142.9 million metric tons at the end of last May. A metric ton of wheat is about 36.7 bushels.

U.S. wheat production will shrink to 2.36 billion bushels this year from 2.40 billion last year, the USDA said. The agency boosted its 1994-95 estimate of U.S. wheat exports to 34 million metric tons from 33 3 million in the August report. Last year's U.S.

wheat exports totaled 33.4 million metric tons. The agency said farmers will harvest 9.26 billion bushels of corn and a record 2 32 billion bushels of soybeans this fall. The previous soybean record of 2.19 billion bushols was set in 1992. Green arabica coffee beans for December delivery jumped 7 cents to $2.24 a pound, the highest settlement December deliveries since July 21. October gold fell 90 cents to $391.90 a troy ounce: September silver fell 3 cents to $5,472 a troy ounce.

tK 'WiO I UK) v-i-l i rmamniii i miin.nii iumi mmmmj miu a GM Hughes cost cuts include 4,000 workers LOS ANGELES GM Hughes Electronics will lay off 4,400 workers as part of a cost-cutting program prompted by shrinking defense spending. The layoffs, which will take place through 1995, represent nearly 10 percent of the aerospace company's worldwide work force. Hughes builds ship-based radar, air traffic control gear and large-scale air-defense systems, including the system NATO uses in Europe. "We must continue to maintain a competitive edge if we are to grow a business base that will help us ensure a viable company and thriving work force into the future," C. Michael Armstrong, chairman and chief executive, said Monday.

Interest rates climb on short-term T-bills WASHINGTON Interest rates on short-term Treasury securities rose in Monday's auction, including the highest level for six-month bills in nearly three years. The Treasury Department sold $11.6 billion in three-month bills at an average discount rate of 4.61 percent, up from 4.58 percent last week. Another $11.7 billion was sold in six-month bills at an average discount rate of 4.99 percent, up from 4.89 percent. The three-month bill rate was the highest since they sold for 4.62 percent on Aug. 22.

The six-month bill rate was the highest since they averaged 5.04 percent on Oct. 28, 1991. The new discount rates understate the actual return to investors 4.73 percent for three-month bills with a $10,000 bill selling for $9,883.50, and 5.19 percent for a six-month bill selling for $9,747.70. In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills rose to 5.62 percent last week from 5.56 percent the previous week. Euro Disney sounding out change in name PARIS Seeking to boost attendance with a revised image, managers of the Euro Disney theme park are trying out a new name Disneyland Paris.

The name is being used increasingly in promotional materials and signs for the park outside the French capital, although Euro Disney remains the official corporate title. "We want to build more on the obvious synergy between Paris and Disneyland," company spokesman Jacques-Henri Eyraud said Monday. Efforts at linking the park to Paris appear part of an adjusted marketing strategy as Euro Disney confronts heavy losses and sometimes disappointing attendance. The company's initial efforts to promote the park and hotel complex, about 45 minutes by train from Paris, sought to establish Euro Disneyland as a distinct tourist destination. Now, Euro Disney is hoping to lure more tourists staying in Paris the most popular tourist destination in Europe into making day trips to the theme park 20 miles away.

Time Warner leading joint cable venture NEW YORK Time Warner Advance Publications and Newhouse Broadcasting Corp. Monday announced the formation of a joint venture that will combine cable television holdings owned by the companies. The venture will include all the franchises owned by Advance and Newhouse, serving some 1.4 million customers. They will be combined with Time Warner systems serving 2.8 million customers, more than a third of Time Warner's total of 7.3 million cable subscribers. Time Warner, the nation's second-largest cable operator, will own two-thirds of the venture, while Advance and New-house, affiliated companies owned by the Newhouse family, will own one-third.

Among the systems to become part of Time Warner En-tertainment-Advance-Newhouse are those in Houston and Austin, Texas; Indianapolis; San Diego; Rochester and Syracuse, N.Y.; Charlotte and Raleigh, N.C.; and towns in the Los Angeles, Chicago and Detroit areas. From AP report 32 Total issues: 2,896 71 Composite volume: 2 39,774,320 1993 avg. comp. 323,714,610 AP STOCKS Investors watch for inflation data Associated Press NEW YORK Stocks fell in sluggish trading Monday as investors worried that new government data on inflation would bring higher interest rates and lower corporate profits. The Dow Jones industrial average fell 14.47 points to 3.860 34.

Declining issues outnumbered advances by about 13 to 7 on the New York Stock Exchange. Many investors refrained from any significant commitments ahead of Today's release of data on August consumer prices. Many traders were looking for confirmation that the rate of inflation may be picking up, analysts said. "Everyone is waiting to see what the numbers will be," said Peter Canelo, chief investment strategist at NatWest Securities corp. On Friday, a higher-than-expected report on August producer prices pushed bond prices sharply lower.

Meanwhile, credit market interest rates soared, helping to depress stock prices. Investors worry, Canelo said, the Federal Reserve will feel compelled to nudge interest rates higher for a sixth time this year in an el-fort to slow economic growth and hold back inflation. Bond investors worry about inflation, which erodes the value of fixed-income securities such at bonds. And stock investors don't like to see interest rates rise because that increases the cost of money to companies and makes shares less attractive relative to interest-bearing Investments. But talk of a further credit tightening has prompted concern about slowing the economy too much, said Don Hays, investment strategist at Wheat First Butcher Singer.

Stocks of companies most sensitive to the economic cycles such as heavy machinery, papers and chemicals tumbled as investors worried about the economic etlect of higher interest rates Caterpillar fell 1 to 53, while International Paper lost1Vito72. Closing quotations (Quotations turnished by A. G. Edwards Son 3715 Beck Road Change indicated from yesterday's close, nc-indicales no change) AbbolLa 30 Mar Labs 23 AetnaLF 48 nc MayDepI 40'. AlcoaStd 63 Maytag le'i AmBrnds 34V, McOnld 27 AmCyan 96', Mead 48 AmEIPw 29 nc Merck 33 AmHome 58 MercBk 37'.

AmStore 24 MinMiM 55 Amoco 58 nc MNXInc 9 VI nc AnBush 53 nc Mobil 81 V. Armco 6 Monsanto 80 1 AtlRich 107 1 Navistar 15 V. Avon 60 Olin 57 Bandag 54V. Omnicom 48 1 BethStl 22', nc Oryx 15 BevEnt 13 PanEast 22 Boeing 45 Payless 11 Borden 13'. 2 PeneyJC 53 V.

Brnswck 21 Pepsico 33 Burl-No 52 Pfizer 66 Campbell 38 PhelpDg 60 CanPacil 17 PhilMor 59 Calrpillar 53 1 PhilsPt 34 nc ChiqBrds 15 58 Chrysler 46 Quaker 79 1 CocaCola 45 nc RalsPur 40 Colgate 55 V. Rockwell 35 nc ColGas 26 28 Cooper 39 nc SFeSp 22 ComBsk 32 SaraLee 22 nc CmwhEd Shering 69 Comsat 26 Schlmbgr 56'. Conagra 31 nc Sears 49 V. ConEd 23 SmhB 33 Corning 31 Sprint 38 Deere 70 1 StonCon 20 V. Oillard 28 nc SunCo 27 Disney 41 V.

SupValu 28 DowChm 75 V. Syntex 24 Dresserln 20 V. Tandy 42V. DuPont 58 nc Tenneco 46V. Eastman 51V, Texaco 62V.

AGEdws 18 V. Transam 51 V. EmpDtElec 16V. nc TRW 72 Exxon 58 V. UnionCar 33 V.

Fleming 26 UnionEI 32 Ford 29 UnMoBF 32 nc FoslerWh 39 nc UnionPac 56 Fluro 50 V. Unisys 10 GaPac 71 nc USSleel 41 nc GnDyn 45 USSurg 26 1 GnElec 49 nc UnitTech 62 GnMtrs 50 Upjohn 36 30'. VenlSt 17 GnTire 13 VFCorp 52 nc Gillette 69 WIMrt 25 V. Goodrich 45 WarLam 81 1 Goodyear 33 V. WeslRes 27 Grace 41 Westing 13 23 nc Wyrhusr 44 Hallibt 30 Wolwrth 17 HJHein 36 Xerox 106 HewPac 88 1 Zenith 10 Honeywell 34V.

AT A STOCKS m0US Amrtc 41 Houslnd 34 nc ATaT idu C7Jy A'1 71 IntPap 72 1V, 81 JohnCont 50V. 1 K-Mart 18 KC PAL 20 IOTV1 U' Bel I At 53V, BellSo 56 NYNX PcTI SwBell USWst 37 31 40 39 Litton 38 COMMODITIES Prices on wheat futures rise sharply Associated Press Wheat futures prices rushed to an eight-month high Monday on the Chicago Board of Trade after the Agriculture Department trimmed its woi production forecast and boosted its U.S. export estimate. Corn and soybean futures also rose as strong demand prospects outweighed higher production forecasts for those crops. On other markets, coffee futures soared as dry weather threatened to further reduce Brazil's output; and precious metal, crude oil and livestock futures retreated.

The Commodity Research Bureau's Index of 21 commodities rose 0.19 point to 233.13. Wheat for September delivery rose 4 cents to $3.80 a bushel, the highest settlement for near-term deliveries since Jan. 17; September corn rose 1 V. cents to $2.24 a bushel; September oats rose 2 cents to $1.29 a bushel; September soybeans rose 1V cents to $5 87 a bushel. In a report before the grain markets opened, the USDA cut its 1994-95 world wheat production forecast to 535.5 million metric tons from its August forecast of 542 million, mainly due to smaller crops in Australia, Canada and the former Soviet republics.

The world produced an estimated 560 3 mil- Truck grain Cms SI Joteph Alchlaon elevators elevalora Hard Wheal no bids 3.87-3 90 Soil Wheat no bids 3 41-3 56 Yellow Corn 2.20-2 22 2.22-2.25 White Corn no bids no bids Soybeans 5.55-5.66 5.60 Sorghum 2 10 3.69-3 82 no bids no bids Price quotes are yesterday's. Grain futures CHICAGO BOARD OF TRADE Wheal Open High Low September 376 382 375 December 390 398 389 March 395'. 402 395 May 383 390 383 Corn September 222 225 221 December 222 227 222 March 230 236 230 May 237V. 242 237 Oats-September 127 129 126 December 126 129 125 March 129 133 129 May 133 134 133 KANSAS CITY BOARD OF TRADE Wheat Open High Low September 385 386 384 December 392 399 392 March 396 403 496 May 386 392 396 OTHER CHICAGO FUTURES Soybeans Open High Low September 575 588 574 November 561 581 561 January 572 588Vi 571 March 580 598 580 Soybean Meal September 171 00 173 00 169 90 October 169 00 17060 16800 December 169 00 171 50 168 00 Close 380 394 401 V. 386 224 226 236 242 129 128 132 134 Close 385 397 402 389 Close 587 580 588 597 172 70 170 20 171.20 DOW-JONES AVERAGES (By A G.

Edwards Son Inc.) Net Close Change 30 Industrials 3860 68 14.13 20 Transportation 1573 46 18 40 15 Utilities 178.29 1 58 65 Slocks 1308.18 9.08 Sales: 299.774.320. STOCK SALES NYSE 245,381.136 Shares Advances 757 Declines 1370 AMEX 12.743.350 Shares Advances 224 Declines 293 AMEX MOST ACTIVE STOCKS Sales, closing price and net change of the most active American Stock Exchanges issues Amdahl 1.O54.2O0 10 1 Echo Bay 881,300 13 Ivaxcp 585.000 20 nc Viacom 443 400 33 1 InterdgtlCom 413,000 3 116 NYSE MOST ACTIVE STOCK8 Sales, closing price and net change ot the most active New York Stock Exchange issues. Hanson Pic Ada 10 945 500 18 Borden 10.368.700 13 2 Rjr Nabisco 6,487.400 6 Am Express. 4.263.M0 30 Unisys Cp 3.698.800 10 Call Us Find out how good a Downtown Office deal can bel GLAZE PROPERTIES 233-1366 Deborah Stotevtefi LeastngProperty Manager BANK rsi FDC Insured (816) 364-2911 We found each other in "Classified Connections" Classified Connections is a way for people to meet other people. You can place a FREE printed ad describing your interests, preferences and anything about yourself that you feel is important.

The ad will run for six weeks in the Saturday Spotlight, Sunday News-Press, Wednesday News-Press and Wednesday Mid-Week. You will be given a reference number so people that are interested in contacting you can call a 900 number and listen to your recorded message. If they would like to meet you they will use your reference number to leave their own message so you can listen to what they say. about themselves at your leisure. This puts YOU in control because you can select from the recorded messages of people that are already interested in you, and listen to their voice before deciding whether you want to respond or not.

Who knows! Maybe you'll find the perfect companion for a lasting relationship. Classified Connections can help YOU find the person of your dreams. call 271-8666 PROVIDENT You must have access to touchtone phone service to place an ad. call 1-900-454-4045 There is a cost of $1.49 per minute. You must be 18 years of age or older to use this service.

SAVINGS 4305 Frederick Blvd. 2 nfffi ftiViiiflrtij iiiHnftiiia4tiiifftiiiiifliiWtiir4iriairin it nam jMm.