Omaha daily bee., 1921-08-21
Market and Financial News of the Day
Chicago Grain
BY CHARLES d. MICHAELS.
Tribune omaha Bee Leased Wire

Chicago, Aug. 20. - Wheat and
corn displayed the greatest weakness
today and December declined to a
new low for the season, while all
futures of corn dropped TO the low
est since 1906. There was a steady
run of liquidation and although there
were few bulges, they met increased
selling and the finish was we'll to-
ward the low point for both grains.
Oats displayed independent strength,
being regarded as well liquidated. At
the close, wheat was 2@24c lower,
corn A@$c lower, oats H@Kc
higher, with Septembr leading and
rye l34@2c lower. .~ .s.. =.
1t was week of severe liquida-
ton, with no response to construc-
tive influences and a demoralized con-
,ltion all around, due to absence of
general speculative buying and de-
spite the purchase of nearly 10000
oOO bushels of wheat fo- export.
Sentiment Bearish.
Traders who bought early in the week
were among the chief sellers Saturday
timent locally was more bearish and
buying support was poor the latter COM
Ing mainly from previous sellers and
those who were taking profits in daily
and weekly bids. Traders who were bull
ish at above S1.30 for the September are
bearish now at $1.15. NV
There were reports of frost at Quap-
pelle, in western Canada, although no
ting is well under way through western
Canada, and the chances of frost dam
age are regarded as less than usual. The
main interest in wheat is centered in
the speculative trade and the export buy
ing. The latter continues good, and
commission houses were liberal buyers OF
September on resting orders. Export
sales for the day were 100000 bushels.
Corn Under Pressure.
Corn was under pressure from liquidat-
ing longs and local shorts and from cash
interests The buying was by commits
sion houses and to take profits on bids
and previous sales. September dropped
to 51Ac and December to 52Ac. with
the close at nearly the bottom. Country
offerings were fair and the cash demand
poor.
Oats had good support from commits
sion houses and investors with changers
active in buying September and selling
December and the reverse at 2Ac to 2%c
difference against nc recently. Selling
pressure was lighter. Exporters were af-
ter old oats. The movement continues
heavy, with receipts 1872 cars.
Montreal exporters bought 100000 bush
els of rye futures here and cargo was
taken at the seaboard for export. Winni-
peg was also a buyer. The selling was
by northwestern hedgers.
Pit Notes.
Wheat traders are more divided in their
opinion than at any time in several
months. Buying wheat on the statistical
situation has been unprofitable., rs prices
have declined in the face of big export
nj, tpt 10 10 n
outside speculative buying to offset the
big volume Of hedges being carried In all
markets and close observers say that un-
til there is a decided incentive the out
side demand to the bulges Is not to be
expected.
Primary receipts Of wheat since July I
aggregate 114,2S5,000 bushels, compared
with 5s,O21, 900 bushels last year. Oats
receipts since August ! have been 32,09S,-
600 bushels against 16,127,oOO bushels last
year.
The trade is looking for larger move
ment of corn and decrease in the mar
ketng Of winter wheat and oats. Senti-
ment in oats is less hearish. while IN
wheat and corn it is little more favor
An Illinois grain dealer reports that the
oats crop in his territory was almost q
failure Yields ran from IL to 27 bushels
per acre and tested IL to 20 s,rJSt pounIs the
grain in shock. farmers received ~ 70
zoe per bushel. the oats being Amos.
enough to pay for seed and twine. not
taking into account threshing and market,
ing. II the new corn crop sells around
4Oc as it is now offered, SO per cent OF
as it will be impossible to finance another
crop. ortoa
being paid 25@2Sc per bushels tor cash
New wheat at Winnipeg continues to grade
high. Out of "a cars received. 80 cars
we're No. Northern and So cars NO.
reduction Of 7hc per 100 pounds on
grain for export from Minneapolis mas
been made by the railroads. rms Is IN
line with the reduction from chicago anu
other central freight territory.