Omaha daily bee., 1920-10-22
Chicago Grain
BY CHARLES d. MICHAELS.
Chicago Tribune Omaha Ree Leased Wirs


Chicago, Oct. 2l.-Grain prices
were on the down grade, with a de-
moralized feeling throughout the
trader here, and in other markets,
with cash prices leading the decline,
especially at Chicago There were
numerous rallies due to shorts COW
ering on selling induced by a report
that the railroad workers in England
had decided to join the coal mine
strikers. AT the close, wheat prices
were cents lower while Winnipeg
lost 3S@5Ssc and other wheat mar
kets were off 4h@7Mc.
Losses in corn were B0lISc on
.he active futures, while oats were
of 1a@Mc, rye, 14@3Ac and bar
ley, 3@3Ac.
Wheat Market Flooded.
Wheat was offered in large volume
from start to finish. particularly at the
start, too much being put on the marke,
to be digested and December declined
sIsTs gI.ss, with March. sl.ss% @l.so.
Immense selling Of corn was on from
the start. led by the Armour and Sc, sea, !,
Frazier. and others. Prices held fairly,
with the top u q NC above the previous
days finish At the low point Decem-
,ber was 7sAc. the lowest In four years,
and &c under the previous days close with
May off SSSo and July down to SIC.
while the inside price of No. mixed was
S41ac, the lowest since July. 1916.
Export sales in all positions were 500
900 bushels and clearances $4,000 bushels.
Liquidation in Oats.
Liquidation and a break OF 1@lhc was
on In oats, local and country longs ana
cash houses were liberal sellers. December
dropped to b2ac and May to 67hc. the
credited to Armour, Leland, Wagner and
Miner made a rally at the last. Lower
cash prices and moderate shipping de-
mand were depressing factors. ,s o.
over December. The Northwest were the
best sellers and houses with seaboard
connections bought against export sales.
New York reporteds exporters offering to
resell at sc under the market.
Pit Notes.
lack of confidence exists not only
in the grain trade. but in all lines of bust
ness. Declines in prices, Instead OF stimu-
lating buying. as formerly, now curtail IL.
In the grain trade. operators apparently
have lost sight Of values or prices, ana
tho pressure from holders and short sell
ers appears to enlarge as values recede
federal trade commission into the decline
of wheat prices, tEc selling today was
heavy from the start, which swamped
buyers and carried values OF all grains
lower.
The heaviest selling Of wheat. corn and
oats was credited to the Armour interests
today. They started in wheat, the break
of which was reflected in other grains.
Canadian wheat is said to be offered In
liberal volume, although Mere is 80 cents
difference between the October at Winnt-
peg and the December at chicago. while
the Winnipeg December sold only 4hc
wEeat are less numerous, although prices
have receded.
December corn has declined 4Sc in
about a month. Despite this reduction
than when prices were around the top.
The entire situation has changed and the
trade is working on the theory that an
grains are a sale on bulges' ,iaa ana &c 10 ~
Covering by shorts, on which there were
large profits. was a f ature in the late
trading in corn and oats. A big local
line Of December corn was taken in
around sic early in the day, which caused
tke decline to hesitate momentarily. One
of the largest local traders, who mas peen
active on the bear side of late, IS SAID 10
have covered all his trades There is
short interest out, despite the heavy COW
erlng, according to trade gossip.
Grain receipts are keeping up suTpris-
ingly well In all sections despite the mold
ing tendency reported by farmers. Coun-
try elevators are liquidating as fast as
possible, and, with an easier car supply,
the trade is really surprised at the aggre-
gate movement.
Reports from the east indicate that dis
tributors are we'll supplied with grains
bought for nearby and distant shipments
at higher prices than the present Coun-
try holders in tEe west are consigning
their grain more readily, and there are
many Inquiries coming in, asking that the
grain may be sold at the best prices pos
sible.