Omaha daily bee., 1920-11-29
Chicago Grain
By CHARLES D. MIcHAELS.

chicago Iribuns~Omnha Bee Leased wire.
Chicago, Nov. 27.--An uneXpect-
ed reduction in the selling pressure
on all grains, combined with large
| export purchases of wheat and rye,
both Manitobas and gulf, coupled
with higher rates OF exchange. were
largely responsible for market
change in The excessive bearish SEN
timent which has dominated the
grain market and brought about a
substantial rally, with the close at
intermediate prices.
The trade gave more attention to
bullish news and there were various
reports which tended to create more
confidence among holders for the
time being at least. At the finish
wheat was 3 to sac higher, corn lB
to 13sc, oats re higher, barley u
to lc higher, while rye was l13c low
er. Provisions were strong with
light pressure and pork gained 47Hc,
lard 20 to 40c, November leading, and
short ribs 25c.
Bear Week in Wheat
1t has been a bear week in wheat with
the close well toward the low point of
the season. and S& to 13c lower than a
Nweek ago, with December leading, In
the depressing Influences financially and
economically, corn is to 3ltc higher than
a week ago. oats are Ts to u C higher, rye
s% to &c lower, barley llhe higher to 1zc
lower. while pork is off 22hc. lard 2iac
lower to 72ac higher, the latter ON Nov
ember. and short ribs are off zoe as COM
pared with a week ago.
Milling demand for CASH wheat was
good with sales Of $4,000 bushels at Chi
cago. A car of poor No. red sold at 32c
over December and No. at soc over.
No. hard brought 9@10c over. Receipts
75c. Outside markets advanced lose.
Corn was bought by commission houses
who have been active on the selling side
all week and at the close the local ele-
ment took the corn on offers TIE mar
ket showed Independent strength and prices
moved up &c at the, extreme with the
close n to sc from the top
Country Offerings Light.
Country offerings were light, cash prem
iums were to &c higher for the new corn
and tie spot market up l to &c. Bearish
Active buying Of -pecember and selling
of May at 6%c difference was credited
to the lS6ding elevator interests.
With no pressure on oats, prices hd-
vanced and closed at nearly the top, al
though gains were small. Elevator peo-
pie bought December and sold May main
was not heavy Cash business was lighter
and prices strong Receipts show a good
decrease from last year both here and at
primary markets.
Rye was higher, shorts covering early.
but broke toward the last and after
porters stopped buying. There were give
ups on $1,000 bushels for seaboard houses.
Cash sales IN track were l cent over De-
cember. Barley was firmer with light Of
ferngs.
- Pit Notes.
A more friendly feeling toward the buy
ing side of grains. especially on the breaks,
was expressed amongst traders after the
close. There were many who expected to
see a higher opening Monday, but on any
further advance free selling was expected
to be encountered which have had such
depressing effect for so long. Short COW
ering in coarse grains has been on for
week. with December corn up sac from
the low of Friday. The bulk of the SELL
ing is regarded as having been by eleventh.
hours bears.
Grain prices have been on the down
grade for days. according to Joseph
Wild of E. W. Wagner & Co. The de-
cline in values has been one of the most
severe ever known in the history of, the
trade The problem in wheat has been
to FIND investors. AS compared with the
December prewar average wheat is cog
so cents above those figures, corn, to 10c,
oats. &c, rye. 60c, and hogs, 2@3c.
The effect of low grain prices on gen.
eral "business IL commencing to disturb the