Omaha daily bee., 1921-09-14
Chicago Grain
BY CHARLES D. MICHAELS.
Cbicaxo Tribupe-Omahn He, Irased Wire

Chicago, Sept. l3.-While there
was much discussion pro and con as
to the amount OF wheat worked for
export, yet there was enough buy
ing OF futures in the pit by houses
with export connections to lend
strength 10 the belief that good
sized sales had been worked. Wheat
closed 2l-+@5 l-4c higher, showing
little reaction toward the last on
realizing sales. The export business
at the seaboard was reported at 5O0,-
600 bushels. Omaha was credited
| with selling 100000 bushels to ex-
porters, but this later was said to
have been sold to Chicago for. stor-
age purposes. Local shippers and
export brokers were almost unani-
nous in casting doubt over the ex-
port business, although some OF the
brokers admitted some business
working via the gull Corn closed
unchanged to lac higher and oats
3-8@l-2c higher. Rye was 2 Lao
2l-2c higher and barley unchanged
to l-2c lower.
There was a decidedly stronger tone to
the wheat market. From the start there
was good commission house buying. which
forced overnight pit shorts to cover ana
the buying continued through the later
part of the season, locals aiding the up
turn by putting out short lines and later
covering Much attention was given to
Argentine cables regarding weather condi-
tons. They all told of the continuance OF
drouth conditions, but there was differ
ence of opinion regarding the effect OF the
Mast nj
the commission house buying was by
houses identified with the eastern financial
aud export trade, and this led to the con-
clusion that further export business mad
been worked. Seaboard wired early that
trade was quiet. but there were indlca.
tions of a moderate business having been
booked overnight.
Corn eased at the start. but prices rallied
with wheat a few minutes later. The
advance was hard TO maintain, particularly
in December corn, owing to free sales OF
that future by leading elevator interest.
The buying was mainly by locals. The
market was relieved of hedging pressure
as the country shut off selling on the re-
cent break. There was broader domestic
shipping demand in evidence and solne
sales were reported to Canadian interests.
Oats were lower earlier in the session,
but in the later trading the market work.
ed to levels above the previous finish.
December delivery at the outset by the
same interest that was active on this
side yesterday. ana tnlS accounted Ior the
easier trend. On the break market was
supported by strong commission houses ana
later locals bought on the firmness in
wheat. with the result that prices recov.
cred the earlier losses. Receipts, were
moderate. the estimate bieng placed at 119
cars.
Rye was firm. Cash No. 3 sold at
$1o6E: deliveries on September contracts
were 5000 bushels. Receipts were cars
Pit Notes.
The wheat harvest Of Italy shows that
cereal crops is back to a prewar basis
the yield being $1,000 goo auintais of all
grains. The crops this year lacked only
5000, 900 quntals of equalling the record
yield of 1918.
The Canadian Pacific and Canadian
Northern railroads report that combined
wheat Ioadings on these two lines, so
far this season have totaled 14,11e, 600
bushels year ago.
A better domestic demand developed
for corn today and there was a good
volume of sales. Continued wet weather
is retarding country deliveries in some
sections.
Minneapolis wheat stocks increased
100000 bushels for three days. Oats
increased 10000 bushels.
The decline in wheat prices checked
the buying Of flour as well as reducing
prices The general trade in flour is quiet
and buyers show no disposition to stock
ur.
Mills were good buyers of wheat at
Minneapolis wheat by Chicago traders.