Omaha daily bee., 1920-10-31
Chicago Grain
Chicago Tribune Omaha Bec Leased Wire.
BY CHARLES D. MICHAELS.

Chicago, Oct. 30.-Weakness in
wheat and strength and higher
prices in coarse grains were features
in the grain trade today. Wheat
had its advance early, followed by
reaction, while corn and oats ad-
vanced to the highest prices of the
week. At the close, corn was u
to 2 cents higher. October leading,
while oats was up B cent. and wheat
was "a to ! cent lower.
Although efforts were made to
keep prices down throughout the
week, the close recorded gains on
all grains, with wheat up So to SA
cents; corn, 312 to AZ cents; oats,
IA to 2 cents; rye 7Ss to SH cents;
barley 7H cents as compared with
the previous week. Lard lost 10
to is cents, the latter on October;
ribs, 45c to $275, with October lead.
ing, while pork gained 20 to Is cents
Wheat Prices Higher.
Wheat prices were the highest early
in the day on buying by cash houses
the top being l cent above Fridays fin
ish. while at the inside they We're &c
divided, with the news mostly bearish
outside Of the effect of the farmers strike
which SO far has not created any bull
ish enthusiasm.
Export buying was light and seaboard
bids were out Of line. Private cables
from Buenos Aires said there was no
damage to wheat and cats by FROST, all
though linseed might be hurt. Flour
off on rye. Receipts continue to make a
good showing, with an increase of $1,000
bushels for the week at Chicago. Mill
ing demand was better. with sales $4,000
bushels.
Corn had Independent strength and
helped to make a better feeling in wheat
at times Local buying as well as COM
mission house support. was factor in
than 1c for deferred futures. Cash prices
were u @1c higher. with premiums we'll
held and receipts light. with no indica-
tions OF an Improvement. on the bulge
some early buyers took profits without
materially affecting prices.
Oats Advance.
Oats advanced to the best prices Of
the week and weekly offers were good.
Strength in corn and light receipts brought
in covering by a number OF commission
houses, which carried prices up lc Pre-
mlums were unchanged and shipping bus
mess was moderate.
Rye advanced early, but reacted. Ex-
port business was light The barley mar
w,
prices were unchanged with light trading.
Liquidation was on in provisons,' es-
pecally by holders Of October lard and
ribs and November lard and pork. Buy
and October ribs CLOSED nominally s1.25
lower. Packing In Chicago for the sum
mer season aggregated 100000 hogs.
decrease of SS3 from last year.
Pit Notes.
The dragging tendency in the wheat
trade was construed as favoring. lower
prices, although there was not much pres
sure from the outside. Southwestern mar
kets are getting fair run of wheat,
Wichita getting Ss cars against &c for
Ing more wheat than Chicago. The north
west is getting good receipts and WILL as
long as the weather continues favorable,
people In that section say.
here today, said 1t was understood In the
northwest that bankers would begin to
force farmers to pay their debts after
election. He believes Canadian wheat will
continue to come into the states In good
volume for lo1g time and that the
Canadian farmers will not be disposed to
hold their wheat all winter for the British
to buy 1t in the spring and dictate prices
Some farmers in the northwest have on
hand part of their 1919 crop, which they
refused to sell at much higher prices.
Corn has advanced &c for December
from the recent low point, which Is good:
considering the depression in all lines Of
all business and the bearish sentiment
throughout the country, especially in the
grain trade. Farmers in the Kankakee
territory are not selling, and at recent
meeting of representatives from different
parts of the state there tentative
agreement made to hold wheat back for
better prices. They believe they will get
as much in 80 to so days as at present.
There were sales OF new No. 8 corn
from Iowa today, shipment in 10 days,
1c over Chicago December, track here.
Buying of December and selling OF May
corn was on by some of the largest in
terests.
The Corn Products company at Argo is
running only three days a week. The
other plants are operating only on part
time and q number are said to be closed
Nos corn is said to have been bought Ia
Peoria in thses weeks by the glucose COM
pany.