Omaha daily bee., 1921-08-07
Chicago Grain
By CHARLES D. MICHAELS.
Tribune Omaha Bee Leased Wire

BY CHARLES u. MlCHAELS.
Chicago Tribune-Omaha Bee Leased wiz,
Chicago, Aug. 6. - An overdu
rally came to the grain markets i
the late hour of trading after a
carly break that carried prices 70
September corn and oats to ne,
low levels. Wheat made the bes
finish, with gains of A@lAc, Will
corn was sc higher to &c lower
cats Ac higher, and rye unchanged
Trading was mainly in evening II
Tor the week, the support comm,
from buying against weekly bids il
which there was a profit.
Considering the depressing fac
tors, the light outside support an,
the heavy unloading by leadin,
longs, the markets gave good ac
count of themselves during th
week. Wheat showed losses OF onl,
sac, corn 3M@32sc, oats 115@la4
rye 4(96hc, barley lc, pork l5e
lard 4S@472c, on the distant fu
lures and unchanged, for January
and short ribs 35@42Hc, compared
with a week ago.
The decline in wheat prices con
tlnued to bring in good buying by
exporters, but failed to help tn,
markets speculatively. There wer,
sales OF 100000 bushels for export
Cash prices generally were weakel
and lower, although premiums hert
were tirmer on hard winters. Al
Kansas City SAB cars were received
and $50 carried over from Frida,
unsold, with 1000 expected Monday
Elevator room there is scarce anc
terminals are said to be blocked.
Movement Falling OFF.
Aside from the export business and the
wheat Figures, there was little in the
market news. The winter wheat move
ment is falling off. Chicago had 1.2s7,DGo
bushels less than the previous week, or
4.2S7000 bushels. while primary receipts
were 17,956,Oo0 bushels. 7,S74,O0o bushels
more than last year and 4.241, 900 bushels
less than the previous week.
Prices were the lowest of the week in
the early trading. with September down
to sl.1s and December $1.22, rally OF
" q &c from the low point. and the
close "a q Ac from the top.
The corn market was weak early on
selling, due to the posting as out of con-
dition OF 5OS,000 bushels in South Chicago
Elevator and annex There was heavy
buying by local professionals who had
recently made liberal sales and a great
deal OF liquidations which carried Sep
tember down to 55Nc, with a rally of Bc
later. while December. after touching SEC.
rallied 1Ac, and both months closed
ceipts show decrease, but a larger busi-
ness Is expected.
Oats Prices Advance.
spreaders and changers furnished a
large part of the business in oats. There
was selling of large line against pur-
cEases of corn by local traders and buy
ing of September and selling Of Decem-
Der and vice versa, by elevator interests
and spectators at &c difference. The
market was oversoid on e. decline to =
per cent for September the lowest of the
season and covering movement brought
an advance of &c. with the close at
nearly the top. The weeks movement at
primary points was 9,S75,0O0 bushels
more than last year and about a record.
Aside from little selling of Septem-
Ter and buying OF December rye at 1c
difference by local elevators and the sell
ing of rye and buying of wheat &C 14n
difference by spectators, thare was Httls
in the rye market. Prices novel W lc
and closed AQhc from the top. Snip
ments by lake for the week were 49a,ooo
Pit Notes.
A number of grain dealers We're dis
posed to take brighter view OF the sit
uation and were less bearish at the close
today, while few were outspokeply
bullish. The rally at the close was re-
garded as mainly a covering proposition
and it was said that increased buying
power would be necessary to hold prices
at around the present level One Of the
+ AL -y1nf
beatish, although he has been all week,
and added that he saw nothing on which
to base purchases for good advance.
The trade, on the whole, was more
evened up at the finish than for long
time.
, Country offerings Of all grains were
lighter, which was attributed to the de-
cline in prices The receipts on Monday
are expected to be large, but not up to
the recent volume.
where some of the largest sellers are dis
posed to take profits. Oat values are
down to level where the farmer gets
less than 25 cents and are largely
carrying proposition.
Bacon company Of Chicago, Milwaukee
and Minneapolis show decreases OF
10 II per cent in the acreage, with yields
at Is to SO bushels per acre, ex-
cept in South Dakota, where they are
S G035 bushels, or an average OF around
20 bushels or An per cent less than last
year In Iowa the loss Is ~ bushel
per acre, as compared with last year.
Grain shipments from Chicago by lake
last week were 5,464,OO0 bushels, mostly
wheat and corn. There was 405,OO0
bushels of rye shipped to Montreal and
35, 600 bushels to Buffalo. This grain
was taken in recently on July delivery
and is being exportedd. Total shipments
of all grains by lake and rail were T.
1853, 600 bushels and receipts. 12,7sS,ooo
bushels. There were 7,544 cars of all
grains on track here yesterday, as against
l1,l00 cars Monday.
Rroomhalrs Italian agent has raised
his estimate on the wheat crop of that
country by 100000 bushels. but the
Spanish crop has been cut down around
20, 900, 900 bushels, due to disappointing
returns