Omaha daily bee., 1921-04-20
Chicago Grain
BY CHARLES d. MIcHAELS.
Chicago Tribune Omaha Bee Leased Wire.

Chicago. April l9.-The few
Strengthening influences in the grain
markets were more than offset by
limited outside buying and by liberal
selling of wheat by the same interests
who were actively on that side Mon
day. Highest prices were made early
and the close was we'll toward the
lowest on the coarse grains and at
intermediate figures on wheat Net
losses for the day were 2 to 2 l-2c on
wheat. l-S to 5-8c on corn, Ia
to 1-2c on oats and 27S to 31-8c
on rye.
Good weather with scattered re-
ports Of rain over the winter wheat
country, combined with liberal re-
ceipts, started declining movement
at the beginning and prices receded
8 to 3l-2c for wheat. The market
seemed to have few friends after
prices started on the decline and even
reports of 100000 bushels being
sold for export at the seaboard for
July shipment failed to have mere
than a temporary effect.
Crop News Conflicting.
Toward the last there was selling of
May and July by leading cash house
although 1t failed to hold prices down to
the low point Of the day. Crop news was
little more conflicting. there being mum.
injury by frost lie Counts message from
York, Neb.. said the crop was perfect.
with plenty of moisture.
~ heavy tone prevailed in the corn mar
lynt rlx do Hasp tn rfc
export business OF 100000 bushels sold to
go to Buffalo and Montreal. with char
ters the past two Gays for 1,525,o0
bushels. These seem TO have no effect.
idea that prices are TO work lower. There
arc q few traders, however. who believe
that corn is low enough and are buying
II on all weak spots. THE range on May
be%c.
Oats Trade Bearish.
Fine weather made local oats traders
bearish, despite the fact that there were
spotted reports regarding the crops from
central Illinois. owing to the recent freeze.
Weakness In other grains encouraged SELL
ing by the local element, while on the
break commission houses absorbed the Of
felIngs and later early sellers became
buyers. The close was slightly above the
low point.
Northwestern holders sold May rye and
shorts and spreaders bought July. Sea-
board houses were iair buyers Of May.
Export bids were zee over Chicago May,
track Baltimore. with 27c added, and no
business reported.
Pin Notes.
There is belief among a number of
the largest traders that wheat prices
should hold around the present level to
somewhat under until there Is something
drastic in the way OF crop news to bring
increased buying. Opposition that con-
frem big eastern ana local traders who
have put pressure on July. Conservative
people are not advising sales Of July
wheat at the present level. as 1t means
so to S5c to the farmer.
1t is said that part of the opposition
the wheat market has met on bulges of
late, as well as on the weak spots. has
come from hedging sales for the British
royal commission, which is said to have
hedged a rood part Of the 10000 900 |
bushels he'S In various positions.
The trade is not hooking for much of
a movement either way from the present
level in corn and oats values. Hedgers
are getting in their May and changing to
the preferred deliveries. particularly in
cern. and the spreads are narrowing, al
though they are still attractive.
Buying of July wheat In Chicago at
around 102 and selling October in Win |
some of the Chicago traders.
May wheat in Winnipeg. which has
been expected to weaken and led to de-
cline on Monday. broke 7c today. touch
his s1.49}a at the low. with the close |
~ above that point /
Sir James Wilson. chairman Of the
central agriculture wages committee Of |
Scotland, says that the worlds wheat sup |
ply for the current cereal year Is more
than equal to. the demand and he pre-
diets that the exporting countries will
carry over a surplus.
r. J. Young OF Chicago and Leon A. Full |
- 81
on the Chicago Board of
Trade today. There was no other busi-
ness of importance before the directors. |