Omaha daily bee., 1921-07-17
Chicago Grain
By CHARLES D. MICHAELS.
Chicago Tribune Omaha Rec Leased Wire.

Chicago, July l6,-Weakness anc
lower prices for wheat and strength
and good advance in corn and oat:
attracted attention in the grain mar
kets today. The finish on wheat
was at nearly the lowest, with losses
OF l@2c, while corn was up lX@2c
oats l@l}sc, and rye unchanged tc
1ac lower for the day The mos,
sensational news came from Russia
but It was like the crop news from
the northwest and had little effect.
1t was construction week in all
grains, with broadening trade and a
CLOSE we'll toward the best figures.
Net gains for the week were 1l@
1870 on wheat, 3N@5c on corn,
4M@5Bc on oats, l3Al6c on rye,
and &c on barley. Provisions moved
up sharply, with an increased trade,
lard gaining o0c@$l.O0; short ribs,
32H@37ac, and pork Csc, compared
with a week ago.
The foreign situation in wheat
needs close watching. Cables from
Russia were the most alarming of
the season. Drouth and famine
prevail in central and southern Rus
sia and crops have been lost, owing
to intense heat. This removes Rus
sia from the export class for this
season, as had been expected by
many close students of the wheat
situation.
Black Rust Reports.
Black rust and blight reports from
Manitoba and North Dakota, sent In by
Snow and LIE Count. were regarded rs
bullish. but the trade has had had re-
them. so that only the most sensational
count as strong constructive price-mak-
Ing factor.
Traders on the whole, while savoring
ing profits. than on making new commit
ments and a general selling movement
was on. with September sold by tha largest
sellers of Friday. while commission houses
was on, with buying of December and
selling OF September at &c difference, and
selling Of September and buying of July
Wits dfsrs1ss the finish 'Rs @s. 'sP sy ":
2hc, and December, after selling at
s1.37h. was off 2hc at the finish.
figures mentioned Export inquiries here
were numerous, but no sales were reported.
Primary receipts for the week at 12, 900. 900
bushels We're the largest at this time In
more than five years and 6,S14,000
bushels more than last years.
Local Traders Active.
Local traders with corn sold and wheat
bought We're active in closing them. This
advanced corn and depressed wheat values.
The finish on July corn was 65isc, Sep
ember. 64hc, and December. 62hc. or a
slight recession from the top. Crop news
ate, with reports mixed. News was not
Necessary, when the large volume of local
'uying was. considered, as It made. the
market The weeks movement suggests
hough there are large supplies on track
An active buying was on In oats. with
IN advance to the best prices on the pres
mt upturn, AL futures being above 40
| probable increase in the export trade
we're features. Shorts were active buyers
Rye was hard to buy and July sold at
nc over wheat. an unprecedented condi..
ion at this season. Top prices were not
Entirely held.
Pit Notes.
Traders are moderately bullish on wheat
md are disposed to buy on good setbacks. |
'he outside interest has increased and
many of the local professionals were |
ctive on the weak spots today. They |
70 not expect the market to run away |
or the present. but the majority are dis
osed to buy on breaks. Weather condi-
ions are big factor and crop news is
eing watched closely.
Those who are figuring on big move
lent Of wheat from first hands are in
lined to be bearish and are selling the (
eptember. Orders for cars have increased
nd some Of the roads are short. The
Jock Island has closed % houses in
,ansas and Oklahoma. owing to car
hortage.
Kansas City mills made 10000 barrels
Z flour the past week, a new high figure,
howing an increase of 10,400' barrels over
he previous week and about twice as
,uch as last year. Mills there report
ood demand.
Good rains are reported In India ana
he soil Is in much better condition than
t this time last year.
A board of trade membership sold Sat-
rday at $500 net to the buyer. :.
A private cable from Germany 1nd1-
ated the crop situation in that country
,as improving. although there have been
O rains reported. England was reported
s offering wheat to Germany on credit
The movement Of corn is expected TO
al short and stocks to decrease. THIS
,as part of the basis for part OF the
uying today, A number of shorts covered
nd at the same time sold out their hold
lgs of wheat.
A number Of local traders have taken
lie constructive side of the oats market
nd yesterday was the first time they
ad any encouragement in the way or
clip from the outside. There appears 70
. a shortage in supplies nearly every,
here except in the United States ana
souirements from abroad are expected
, be big factor later in the season.
CHICAGO CLOSING PRICES.