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NoHhwM* Arttama* TIMES. Sun., June 30. 1974 _r*TrmviLLt, A Facts On Futures JW,Â»:'IB :i|i!''ill!!! 1 :':;;iii:.:sr.IPÂ· .cii:.11: :!i : .iii' ii ::: : i, r 'Â· ; K\ WVLIK PAKKKK and ' I.AVKKK H01.IFIf.IJ 'A. 0. lirtuarris and Sons, Inc. i Tlic wheat market muscti last Jwcek over USDA rcporls tliat Â·the .world grain situation had ^tightened in its 19741975 pro- 'specUs and t h a t the more op- i'limistic crop forecasts issued "by the Soviet Union were too ihigh. But the heart of the mar- ;kct was not in the longer rarisfi Â·forecasts hut in the immediate ^problems. ; Locals had been consistently :short and were forced to cover numhcr of times. Seasonal Â·incrcses In open interest were ' seen as hedging entered t h c Â·market but not with pressure !as the buying which matched lit dominated. Farmer holding iin many areas of the Southwest , L becanle more evident. The ipring wheat planting situation ^n tlie northern states as well -as Canada was still a cause i'for concern. IN SPITE of the usual lack if attention which Chicago -wheat stocks normally get at Â·Jhis time of year, they were Ji source of interest as the July Â·contract in Chicago and Kansas ;City gaiend on m o r e distant Contracts. The market has had ii spectacular runup in a short toriod of lime and can he expected to pause from time to time. The outlook continues to favor high prices and lightening in the spreads. We would approach the market from the Ion" side on dips. The hrief surge of strength in the livestock markets served to hearten the corn market, long depressed by low end-product prices. The sharp reduction in cattle placements in May however only served to remind corn traders of the rather bleak feed consumption outlook. Weather continues to be a concern and corn traders, who had fell that some reduction in crop prospects was .needed to match the reduction ;in demand prospects, were now Â·beginning to worry that the .crop might still be short. ; THE CHICAGO tightness in Â·corn will continue as the July 'contract continues to be a concern and corn traders, who had fell that some reduction in crop prospects was needed to match 'the reduction in demand prospects, were now beginning to worry that Ihe crop might still "be short. ; ..THE CHICAGO tightness in ieorn will continue as (he July [contract continues to gain reli- Â·tivc to other months. Other contract months .will occasionally follow the upward trend in wheat but will have difficulty in maintaining an uptrend with- out major new damage to the cro|) uhicli. today appears unlikely. U'e would treat corn as a trading nnirkct. The three markets of soybean complex continued with business as usual; beans sideways, oil higher, and meal lower. U. S. .soyhcrni oil is no longer attractively priced relative to other origins, but the technical situation in soybean oil as well as ils prospects for the medium term favor higher price. The market was full of rumors that China was interested in soybeans and or oil. On the meal front, the bearish developments in the livestock and poultry complexes continued to weigh on meal prices. Oil strength should keep meal prices under pressure until and if the soybean outlook becomes so tight that soybeans can assume independent 'strength. Then meal will advance on the coatlails of the soybean market. In the meantime, it should drifl lower. . .SOYRKANS should continue in tile trading range although there is some concern about yield prospects on later planted acreages, Soyheans coulrl be a candidate for longer term appreciation because of reduced acreage, less than optimal yield prospects, possible statistical tightness in the old crop, strong world oil demand. \Ve would buy oil dips and position hull spreads on pullbacks in the spreads. We would sell meal on rallies. We would treat soybeans as a trading market, hut holding long positions when it appears that the general trend on the Board of Trade can carry them higher. The situation in cattle became so bad that producers decided to hold back marketings on choice steers. The May cattle report had indicated a sharp rlrop in marketings although May slaughter was high, indicating the importance of nnn- fcd cattle and cow marketing. However, the holding did have some response. Live cattle pi-ices as well as dressed beef prices jumped, .which brought out increased marketings, but left prices higher overall. VP Residence WASHINGTON (AP) -- Cnn gross has completed work on a hill designating a stately 81- year-old Washington house as the official residence for U.S. vice presidcnls. The hill, sent lo President Nixon, does not specify whether the house on the Naval Observatory grounds will be temporary or permanent. JCPenney Women's luggage. Sale 27 94 Reg. 35.94.3 pc. set includes a Beauty Case 21" Weekender, and a 24" Pullman. Has solid dfasrboard frames and shells covered wilh scuff resistant vinyl. Recessed locks, Â·interior pockels, and more. Available in four decorator colors. Men's luggage. Sale 23 96 Reg. 31.96. This 2 pc. set includes a 2 suiter and 21" Companion. With solid ftbertnard frames and shells covered with scuff resistant vinyl. 53 and 54 sayings on latex paint Â·Â«*a f , (M , f Â»,/? ~ Sale 5.99 Reg. 8.99 gal. One Coat Plus flat interior latex Â· Available in a wide selection of colors Â· One Coat coverage Â· Ideal for walls, ceilings, woodwork, interior masonry Â· Washable Â· Hands and tools clean up in soap and water Reg. 8.99 gal. One Coat Plus interior semi gloss latex Â· Washable, durable, stain resistant Â· Ideal for kitchen, Sale 5.99 Reg. 9.99 gat One Coat Ptas flat exterior latex Â· Non-yellowing Â· Resists staining, lading Â· Many colors to choose from JCPenney Save 20% Gel 20% off JCPenney extension ladders, in sizes kom 16' to 28'. Choose features like mar- lesfetarH Cfcotacf end caps, flat step rungs bom'comfort and lots more. Sate prices effective fcm Saturday. holiday bargains Sale 82.99 Reg. 103.99. 54 HP portable sprayer includes gun. A. 20% off hoses :id sprinklers. .'.) 50' Nylon Reinforced hose, %". Orig. 5.29 -- Now 4.23 B) 75' Nylon Reinforced Hose. W. Orig. 7.99 -- Now 6.39 C) Spike base polyester, adjust- able, sprinkler. Orig. 7.99 -- N o w . . . 6.39 C. Ice cream makers. Special 15 88 This Proctor-SKex 6 qt. etedric polypropylene tee cream maker has sturdy baked enamel bridge, handle, and motor housing. Special 10 88 4 qt. Proctor-Silex electric ice cream maker with tough polypropylene bucket, metal bridge, chrome motor cover, and handle. Sale S 74 Reg. $84. This solid state/ tube TV teÂ»s a t2" screen (meas. ctiag.) and comes in a haodsome walnut grain ptesiic cabinet. Reg. $499. Sale $439. Mediterranean styled console with 25" screen (meas. diag.). Chroma-BriteTM picture tube for more brightness. Oak cabinet Sale prices effective thru Saturday. Save 20% on lawn mowers. *Â· 19" 3 H.P. Cost Aluminum Deck. Orig. 89.88 - Now 71.99 21" 3'.4 H.P. Cast Aluminum. Orig. 119.99- Now 95.99 20" 4 H.P. Rear Bagger Mower. Orig. 129.99 - Now 103.99 22" 3'A H.P. Power Propelled Mower Orig. 99.99 - Now 79.99 21" 4 H.P. Power Propelleea 1 Cast Aluminum Mower. Orig. 149.99 -- Now.. 119.99 25" 7 H.P. Electric Start Ride-On Mower. Orig. 479.99 - Now 383.99 34" 8 H.P. Electric Start Ride-On. Orig. 679.99 - Now 543.99 tow handle, oarlocks and oars, cushions, foot pump and more. Red and white, with Coca Cola* logo. 15% off all outdoor games. 20% off golf equipment Shop 9-9 Mon., Thun., Fri. 9-5:30 Tues., Wed., Sot. Shop 9-9 Mon., Fri. 9-5:30 Twn,, WÂ«l., Sat.