Omaha daily bee., 1921-07-31
Chicago Grain
BY CHARLES D. MICHAELS.
Tribune-omahs Bee Leased Wire


Chicago, July 30-There was the
worst mixup on the July rye mar
ket today that the trade has known.
The Hanson Produce company OF
New York, which has rye bought
against export sales. was selling the
July and buying the September at
l719c difference. This let the shorts
in for July, but many did not care
to be short the September, fearing
there might be repetition OF the
conditions prevailing in July. There
were plenty of sellers of July at the
last, but the price advanced from
$l.29 to Sl.32H, where it closed.
September moved up from SlllH TO
Sll5 and closed there, gaining 234c.
Deliveries for the day were 335,0o0
bushels and there were said TO be
liberal defaults, which will have to
be settled by committee. For the
month of July deliveries were
l,025,0o0 bushels. No. 3 rye was
taken by eastern interests at 7c un-
der No. 2, and the No. 2 sold largely
at lG2c under.
Wheat Closes Higher.
In the grain markets generally there
was a light trade, with and irregular
movement OF prices. July wheat closed lie
higher and distant futures were unchang-
ed TO sc lower, September leading. July
corn was off &c and distant futures were
up i4c, while oats lost " TO &c Provi-
sions were stronger and 5 to INC higher
OF lard and 10 TO 12hc up on ribs.
The wheat market was comparatively
xs-pM Jy1Sy
earlY. but II was wanted later and the
price advanced SC. Distant futures were
weak, with moderate pressure, The lead
Ing interests bought September at times
and there was considerable general liqui-
dation. Record receipts at primary mar
kets for the week OF 221e7,oo0 bushels.
or nearly 100000 bushels more than
last year, had a depressing influence.
July Corn Isreaks.
July Corn was under pressure from
ding interests and broke from IS TO
62 sc, with the close at the inside. Dis
tsnt futures had fair support and closed
higher. The weather rap showed scat
tered rain over corn belt states, but more
is needed. Cash prices were y to &c
lower.
Ira ding in oats consisted largely In
changing from September to December
at &c for the local interests and with
northwestern people doing the business.
The close was lower, with July leading
ping sales were 10000 bushels.
Cash rye closed firm. No. ] sold at
s1.27 q 1.2Sh; No at sl.27 @ LIS NO.
at s1.21h @12s1s and No. ( at tl.11h.
There were 1900 bushels rye sold to go
to store. Deliveries 10000 bushels
July rye at 10c over the price OF wheat
was something the trade has not known
before. 1t was peculiar situation. Or
din8rily rye sells at material discounts
porters have changed positions of the two
grains by demanding q delivery on July
contracts which the shorts are slow
about fulfilling. The latter has sold rye
and bought wheat and lost on both ENDS
Of the spread. A big line Of wheat was
sold out and rye was bought in, which was
said TO be for Jack Shreiners early today.
The deliveries of rye were in car lots
and the clerks were badly mixed up IN
their accounts SO that up TO O'Clock
they had not Strengthened them out ana
there seemed no possibility OF doing So
How much rye was defaulted on, no one
was able TO estimate. one mouse heo
q, 900 bushels coming. Some Of the late
deliveries were refused on the claim they
were not sent out at tho proper time. IL
will take ruling OF the directors ana
special committee 10 iron out lhe k4nks
There was a mixed sentiment IN the
trade, with an undercurrent OF bearish-
ness. The reRdtustment from July 10
September trades leaves the operators
freer to make new COEElllllI cuIs' AheA ~
II large shortage in September corn on the
part Of those who have been long July:
according TO pit estimates Ihe IocaI
traders are moderately short September
wheat and the oats market Is becoming
largely changing affair
The Capper-Tincher bill has been placed
on the calendar of the senate ana u NM
ly to come up the latter part OF next
week. Active efforts are being MADE 10
have changes made, particularly the piac-
ing Of limits on individual trading. tne
regulation Of private wires and the pre-
fersrtial clause in regard to memberships
on the exchanges. which gives represen-
tatiyes Of the farmers association per
mission to do things that other memoeFs
can not