Omaha daily bee., 1921-08-09
Chicago Grain
By CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased w


| Chicago, Aug. S.-Wheat exhibited
much strength throughout the ses
sion. With the visible supply in
creasing nearly 100000 bushels
there was some selling by weaker
longs, but the wheat disappeared SC
fast that holders soon had their con-
hdence restored and thereafter it wa:
difficult to buy. The close was neal
the best points of the day and 2A@
2Hc higher than Saturday. The re-
port that the German grain commits
sion had been given $l0,000000 credit
by New York bank was one of the
factors in the market. Corn was
5s@Zsc higher and oats finished Is
@Ac higher. Rye advanced lAc
and barley 1ac. Hedging pressure
from packers caused a late break in
provisions, pork closing Sc higher,
but lard was 17H@331ac and ribs
10@121ac lower. Local cash sales
were l75,000 bushels of corn, includ-
ing 100000 bushels to exporters; 1885,
900 bushels of oats and 5000 bushels
Of barley. Cash wheat premiums
were A@5c higher. Corn basis was
4@Hc higher and oats unchanged.
Better Tone to Wheat.
There was better tone to the wheat
market. There was more confidence dis
played by the bullish element In the
trade, while the bears were less disposed
to prss the selling at the present level or
values. There was not any great volume
of trading at the start, but conspicuous
feature was the buying by wire houses
with eastern connections. Prices ad-
vanced quickly, as the only selling of con-
sequence was of December and credited
to northwest account. There was some
buying of December by northwest houses
against sales Of that month in the Minne-
apolis market.
Corn sympathized with the wheat mar
ket Sentiment appears to be a little more
friendly toward corn. With prices around
the low point Of the crop and with crop
disposition shown to press the decline any
further. There was enough activity IN
export circles to stimulate activity on the
buying side and commission house orders
mostly to locals. Receipts of corn were
375 cars. .
Oats maintained a firm tone during the
early trade. Volume of business was samil
and prices worked within a narrow range.
Hedging pressure was felt at the outset
and prices started steady to easy, pul
strong commission houses absorbed the Of
ferings on the dip and sharp recovery
Cash rye steady. No. sold at s!.os;
No. 3 at sl.oS@1.0S1a No. at s1.o7'
No. at s1.O5@1.o5h. Receipts, q cars
Pit Notes.
Oat clearances last week OF 2,06S,O0o
bushels were unexpectedly large, and lnnls
Gated that export business has been Oh
larger volume than supposed. 1t is pre-
sumed that good many OF the oats
cleared went out via Montreal.
Liverpool cabled there was little I'M
provemont in the corn situation IN me
United Kingdom. Prices are heavy, with
buyers taking hold sparingly. Importers
are pressing both Plate and American
corn for sale.
Reports of extremely hot weather are
being received from Danubian countries,
The Illinois state report for the week
said the outlook for corn in the southern
part of the state was unfavorable, put tnat
in the central and northern portions there
had been enough rain as rule TO ma
terially improve the outlook. Private re.
ports from both this state and central
iowa say that on the uplands corn is
not filling out as good as tne out"aiu
appearance of the ears would Indicate,
and some estimates place the condition
of upland fields at not over SO per cent
Updike Takes Over Elevator.
Official advices in regard to the
Scandinavian crops say tnat the cereal
crops will be exceptionally small this year.
John w. Radford, who has been con-
nscted with Pope Eckardt for mony years
is now with the Updike Grain company,
having charge of the cash grain depart
ment of that firm.
The independent elevator at Omaha, the
second largest at that point, mas neeh
taken over by the Updike Grain COM
pany from the -Schneider-F Fowler
Grain company. The elevator has ca
pacity of about 100000 bushels.
French drn"'h conditions are said 10
be again bad ter the rains of week or
so ago and Jles this morning said the
country was parched. However the wheat
yield was reported good. Advices TO
Washington said that all crops except
wheat had also suffered in the United
Kingdom.
ST. Louis reported notices of wheat con-
signments showing big falling OH.