Omaha daily bee., 1921-01-06
Chicago Grain
BY CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire.

Chicago, Jan. 5,-Depressing in
fluences were numerous and etfec-
tive in the grain markets today, the
net losses being 2zs@3hc on wheat,
lc on corn, B@Ae on oats. lMc
on rye and lac on barley.
Argentine news was the main fac
tor and for the present and i'm
mediate future is expected to be
more attractive, as it usually IS dur
ing January and February. Argen-
tine wheat was said to be offered
to Germany at l5c to zoe under
American from the gulf. The British
commission was out of the market
and apparently is using its influence
through the Argentine situation. to
get lower prices.
II has asked for a definite state
ment regarding the export tax on
grain from that country and the buy
ing from there is regarded as large
ly dependent on the reply it re-
ceives.
Business Light.
Exporters were holding off and business
was light Milling demand was spottea'
vest. Norway Cancelled two cargoes Of
rye and exporters were resellins at the
SPECULATIVE buying from the outside
x,as Iisht and while local support was
fair at times. proved inadequate 10 sup'
'Vte Corn had heavy undsrtone and at tho tho
inside prices were off lihc from the pre-
yious days finish. Business was largely
,ucsI and the support came mainly from
huying against bids at the last. A rai;S
of NC followed the break que 70 prnsts plua.t
bought low grades. Exporters took $500
bushels here and 100000 bushels at IN
euli Domestic trade was, was si9% nr,sss wsen de-,
ciined u @ic. with old off Sc. consign,
nent notices were in fair supply ana
arrivals 2s4 cars here. with 60S cars AT
the five markets. against S4S cars ias'
year. s
Oats failed to attract more than ths
ueual light attention and were dsp5ess,n ,r 81
nearly 1c. Commission houses did aro
No. white in the sample market was
fIrmer at IN @1hc under May and So. &
white weaker at IN 03c under; safes
100000 bushels. and receipts; aS oSe bnsbe,s
ir all positions at former prices, sci sci
board houses were fair buyers, with sell
ers mostly local operators; ,ar rs cash prices
Barley was slow and easy.
Pit Notes.
The Price current-Grain Reporter re-
norts hog slaughterings in the west estl-
mated sol, 900 for the week ending De
cember 81. as compared to $4,000 the
previous week and 74s.000 the same week
" minneapolis wired: "Have talked with
many elevator people and country dealers
and the general opinion Is that between
60 and eS per cent of the wheat in tho
three northwest states has left the farms
Grand Forks. N. D.. reports the advance
in the price of wheat brought out Ut
lie selling, but the majority. OF farmers
are inclined to hold Their ,haes Wnest wH IGT BE- BE-
some for sale Collections are reported
very light. No farm loans are being
r1ade. ,o.
A message from New York says: "On
account OF strength in sterling some or
our exporters in the United Kingdom ma.
buy some wheat and they. also feel that
under $40 they would be tempted to
buy some futures. in anticipation Of for
eigners entering the market Cash wheat,
however, Is almost drug on the market
the last few Gays and if the other side
starts to buy now. they. could get 1t
easily"
In analysiztng the effect Of the passage
of the war france bill over the veto of
the president. IT appears evident that con-
gress has done little to assist the farmer
In financing his crops, but has really
Geflation and reconstruction. Under the
law the corporation has no power to loan
money to farmers or companies Tor the
purpose OF carrying grain, cotton. wool
or other farm products and Its activities
must be confined strictly to the loanins
secured. for the purpose Of financing ex-
pOrts.