Omaha daily bee., 1921-08-20
Chicago Grain
BY CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire.


Chicago, Aug, l9.-Wheat was er-
ratio throughout the session and
good advance recorded after midday
was mostly eliminated near the close,
Trade was broader, all bulges meet
ing with selling by strong commiS-
sion concerns. Buying was led by
local shorts satisfied with prohts,
their activity being confined to De
cember, while eastern interests picked
up good part of the September OF
ierings. Exporters were keen after
the wheat and the seaboard reported
sales of 100000 bushels in all po-
sitions and there were 250,O00 bush
els corn reported worked in addition
Final prices on wheat ruled A@Rc
higher; corn sc lower for Septem-
Der and 1sc up for December, former
beieng under constant pressure. Oats
were 4@Nc higher and rye l0lAc
lower.
Shortly after the opening, prices
dipped to new low points on the
present downturn, but the decline
was of minor importance and sup
plemented by a rally a leading ele-
yator interest was 1.-THE principal sell.
er, while support from commission
houses appeared to show betterment
on the dip. Local shorts were in,
clined to accept profit and await a
substantial rally before again conf
nutting themselves to the selling side
While offerings increased on the
bulge they were not of the magni-
tude of former days.
Corn Hits Low Mark.
Corn prices set new low record for the
season. The December delivery was not
as weak as the nearby month and worked
to premium of cent over the Sep
tember. against discount of 1Ac two
days ago. Liquidation and stop loss SELL
ing affected the latter, while good
demand from commission houses helped
the farmer. Receipts were again large,
the estimate being placed at 440 cars.
TIE Interior continues to sell corn to
arrive with freedom and one concern re-
ported purchases amounting to 100000
bushels over night.
Oats met with fairly good commission
house and local demand In the way of
short covering and prices averaged high
er up to mid dsession. The start was
easy due to scattered liquidation In a
small way and hedging pressure, but
shorts took profits on the dips and with
the better tone noted in wheat, buying by
recent sellers increased
Cash rye closed unchanged: No. sold
at $1.o2h: No 8. $780, and No. 4 at 90 q
s7c. Receipts, IT cars.
Pit Notes.
Shipping interests were better buyers
OF oats than for some time and this had
considerable effect in firming the Sep
tember. Commission houses also were
buyers and the difference between Sep
tember and December narrowing a little.
Country offerings Of oats were smaller.
Late reports from the seaboard put
export sales at 100000 bushels wheat
and $50, 900 bushels corn.
After the opening IN wheat there was
another little wave of liquidation of long
wheat and the quick decline showed how
sensitive the market was to selling of
this kind. Local pit observers were OF
the opinion the most urgent liquidation
was over, but they also emphasized the
lack of outside trade Most of. the buy
ing has been to cover shorts. and the
public appears to have little confidence
on the buying side. The cash wheat is
strong, but buying orders are not coming
In as a result of this any more than pre-
viously. Winter wheat receipts are keep
ing at hcav, rate longer than expected
and with the liberal arrivals at spring
wheat points the primary movement IS
still heavy. Shorts have covered tremen-
dous lines of both corn and oats, but
prices are still dragging around the low
points of the crop and the lowest IN
more than IL years
New York advlces are that 10000 ooo
to S5,000,0 900 bushels Of wheat have been
sold for export since movement of new
crop began" said J. F. Jackson That
was, around July Is. On that date Sep
tember wheat was $1.31 and December
$1.34. why did not prices advance; and
will they decline on the sale of so'ooo'ooo
more?"
Australian cables report temporary
scarcity in freight room. In West Aus
tralia it has been decided 20 have
wheat pool. In New South Wales the
government favors pooling on condition
the government controls. but farmers de-
sire the control to be with the growers
Minneapolis oats stocks showed an in
crease of 1900. 900 bushels for the week.
Wheat increased $4,000 bushels for the
week.
County offerings of corn were liberal,
according to receivers, with nothing 10
indicate any let up in the movement,
On the other hand, offerings of wheat
and oats were extremely light IN the
majority of instances. However, casn
houses led by Armour. were fair sellers
of wheat at the opening.