Omaha daily bee., 1921-08-02
Chicago Grain
By CHARLES D. MIcHAELS.
Chicago Tribune Omaha Bee Leased Wire

Chicago, Ill.,, Aug. There has
been persistent selling of wheat by
pit traders all through the greater
part of the session inspired by the
hedging sales of moderate amounts
and in anticipation of at least T.
100000 bushels increase in the visible
supply. This developed situation
which resulted in a closing bulge
and best prices of the day prevailed
at the finish, with gains at | Lao
| 1-2c recorded. Most of the late
buying was for short account. Corn
closed 1-2@5-8c lower, while oats
were unchanged to l-5c off. Rye
declined 21-4c and barley lc. Pro-
visions rallied with pork, l0c up,
lard unchanged to lie lower and
ribs 21-2@5c lower. Local cash
sales were 5000 bushels of wheat,
no corn, 42000 bushels Of oats and
1000 bushels of barley. A shipper
who sold 100000 bushels of corn
last week had 10000 bushels of it
cancelled today. Seaboard reported
100000 bushels of wheat worked for
export
Trade in wheat was of moderate
volume. Sentiment appears to be bullish,
but buyers lack confidence so long as the
producers continue to market their wheat
in the large quantities they are at present.
The market was firm at the opening.
northwest interests buying. while dearth
OF offers was noted. On the bulge iocais
took the selling side, which could be
credited to hedgers. At the end OF the
first hour the market rallied when the
locals attempted to cover.
slump in Late Selling.
Later selling credited to a leading eleva-
tor concern caused a slump. Northwest
advices were to the effect that the crop
is still going back. However OF more
headlined In the press. This would indl-
cate that the once biggest wheat produc-
ing country of the world is now dependent
on the United States and other surplus
producing countries for foodstuffs to feed
her starving peoples. This will make
big difference In the reckoning or values.
Kansas City advised that consignment
notices on wheat were so per cent less
than week age' nge ,.- Local re'e'p'S "e''
Corn was weak in tone. The cooler
weather, accompanied by rains IN many
portions of the west and southwest,
seemed to overshadow all other news.
crop In parts has been trreparaoly lnJurea
by the dry weather Another factor which
must not be overlooked Is the iact that
much feeding is being done on iarms S
will cut down figures on Yields later IN
the season. Seaboard advised that there
was a big export demand for corn.
Oats worked sharply lower during ,,ae the
purchases OF cash oats in the country
proved a burden on the market and prices
drifted gradually lower Buying power
was smaller and confined to the Weah
spots. Cash oats started u cent lower
Old heavy No. 8 white oats sold at Ssc;
or NC over September. Lghtweight soio
at s5c, or SC under. Reports from Canaas u.
say that oats in the rortherh part VI
Cromwell estimates the crop in Alberta at
75.O00,00o bushels
Rye, No. 2, sold at S1.10h.
Pit Notes.
The local elevators will be run on an
open shop principle hereafter and the M
unions will have no voice IN tne
The men viii be hired as individuals and
according to elevator men. large per-
centage Of the recent employees have MAGE
good and will be retained. Most OF the
men who went out have applied Tot their
Feeding of new crop grain and forage
will begin much earlier than usual TINS
year as pastures are in bad shape through
out the greater part of the west In
many sections feeding has already begun
and it Is believed there will be free buying
Of corn and oats to make up deIiclenCies
in feeding supplies. Indiana crop reporting
bureaus state that the pastures are prac-
tically gone in all parts Of that state.
Corn has fired badly on ltght ana
sadly soils, according to the weekly re-
port, and to q lesser degree on other soils
Wheat News Bad.
According to some receivers, receipts OF
wheat are likely to continue heavy lor
the remainder Of this week, while some
believe the arrivals today will not be
equalled again on the crop. In some Sec
tions farmers have practically stopped de-
liyerine and in the southwest a more
conservative selling attitude Is noted in
many sections.
News on wheat is coming extremely bad,
according to Minneapolis message 70
Thomson -McKinnon. Territory that looked
promising 10 days ago Is said to be railing
down terribly on the final returns as shown
by the thrshers.
A Kansas City message said that con-
signment notices Of wheat were about %
per cent less than a week ago.
In spite Of the low prices prevailing Tor
oats the country appears to be selling ana
delivering freely, receipts at all points
being heavy, Chicago alone having about
so per cent more than the total primary
receipts a year ago.
CHICAGO CLOSING PRICES.
By Tpdke Grain Co. DO. 1897. Aug. ]:
Art Open. | High Low Close. Sat.