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Weekly Farm
Price Outlook
(TUa Irtheway progpeeta for Vlqtala fam prices looked to the Virginia Dept, of Agricnltnre on Friday. The Department offera it to, one can predict prices and be right farmers with the warning that no _all the time.)
Corn
Continued seasonal adjustment in corn prices is likely as harvest volume increases. The September 1 forecast of the national corn crop is for 3,640,000,000 bushelsdown 11 per cent from last year’s crop with most of the decrease in the corn belt states. This production is 20 per cent less than the total utilization of corn last year. The total supply picture for the U. S., carry over plus production, is estimated to be 5,191,000,000 bushels--4 per cent less than last year. Virginia’s crop is expected to be about 2 per cent above the five year average but 79 ■per cent above last year’s short crop. New corn movement is already affecting prices in some areas. Prices last week for No. 2 corn were $1.32 in Richmond $1.30 in Petersburg, $1.28$1.30 in Norfolk, $1.40-$1.47 in the Shenandoah Valley, $1.40 at Roanoke, $1.23 in the Northern Neck and $1.29 1/2 $1.29 3/4 at Chicago terminal markets.
Soybeans
82.1%