Omaha daily bee., 1920-12-16
Chicago Grain
O..
Bv cMARLEs D. MICHAELS.

Chicago Tribune Omaha Bee Leased Wire.
Chicago, Dec. l5.-The govern.
ment report, with an increase OF
l45,00O,000 bushels more grain OF all
kinds than previously estimated and
s4S,000,000 bushels in excess OF last
year, staggered the trade and created
liquidation and selling which scared
buyers out and carried prices lower
The only buying support was proht-
taking and buying against bids. The
latter made the rally from me in
side prices in the last hour AT the
close net losses were S to 6 cents
on wheat, 2Zs to 3Ac' on corn, 2 to
2J5c on oats, 2s to sac on rye, and
unchanged to lAc on barley.
Provisions finished near the in
side with losses of zoe on pork,
SIN to 35c on lard, and 20 to 27Nc
on ribs. et
Sentiment in wheat became more
pronounced against the price as the
government report raised the figures
48,O00,000 bushels on winter and re-
duced them 100000 bushels on
spring, making the net increase 39,-
100000 bushels. ! 1t was SO much
more than the trade had figured on
and changed the situation so sharply
that it needed courage to buy.
Export Sales Large:
Eastern houses as well as locals weas
good sellers and buyingx support came
from seaboard houses. Export sales YET
the seaboard were around 1.000.O00 Dusn-
els with 10000 bushels at the gulf t9 S
Italy Southwestern sales py tarne1s "a no IM aao
bushels. Export clearances were l'Sss'oVo
Raising of the corn crop to record levels
more than the November report, sug-
gested. brought on liquidation and gena
eral selling and declines OF 3N 70 ~
cents with December leading. while the
with severe losses. Cash corn dropped
8 to cents for new, and to 8 cents
for old, with No. mixed at ~ cents
shipping sales were 1900 bushels ,ro Copn the
west and northwest Receipts were ~
cars.
Oats came out freely at the stare and
there was little resistance to the decline
until May reached 40 cents when conn
mission houses bought on resting orders.
May and July, which were VI cent apart
Tuesday, sold at almost the same prices.
Cash prices declined to ~ cents With
sales $4,000 bushels and arrivals ~ cars.
Spectators sold May rye against pur-
chases of wheat. Seaboard buying was
good, yet srices declined. Export sales
italy and $4,000 bushels in other positions.
Barley was slow. with the May the
weakest.
Elmer Martin Of Riordan. Martin
Co., says: There must be something
radically wrong when abundant crops
are calamity to the farmer that raised
them. Yet this is the paradox that con-
fronts the western farmer today. III ne
had raised oEe-half or three -foarths OF
his present Drop 1t would have been worth
several billions more to him this year.
When the only source of additional wealth
comes from the soil or the mines, this
certainly furnishes food for serious
G. Bartlett Frazier Company issued the
following: "There are heavylsclling orders
here before the opening, particularly in
corn. There is corn for sale on every
bulge and It looks like Armour pressing
1t. Stein. Alstrin selling corn. Scretner.
Logan and loeas buying corn. McGraw raw
sst.aa osI ss1r 1r Market 9s 0fs
The government report, which came
distinct surprise IN that the estimate
about $1,000 900. but the spring wheat
Yield was reduced 100000. making the
net increase aS,000,000 bushels.
NThe Price Current GRAIN reporter. says
soil conditions are almost entirely favor
able for the growth of winter wheat and
the wintering of the plant The percent
age CT corn husking that has not been
done IS 4s per cent in Kansas to 80 per
cent in the northwest.
Gotham wires Shafer & Stream: "About
SOC, ,o0e bushels gulf wheat placed this
morning and further orders here. Liver
pool direct. The CORP market improved
on firm cables, but-the gain was lost on
the estimate Of plate shipments and a
lack of demand"
Heavy selling, credited to local pro-
fessional was resp6nst,;e for the last
break, but the market ral.::d sharply as
soon as the selling ceased. Sellers Of
bids in corn and oats forced to protect
themselves on the way down helped along
the decline in these grains. ..
CJTrAcO rT OcINc pprr,rS