Omaha daily bee., 1921-07-24
Chicago Grain
BY CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire.

large export demand, with more
than 100000 bushels of wheat sold
In a positions, heavy hedging sales,
and keneral pressure carried prices
for Al grains down to the lowest OF
thu week and practically closed them
th ie, with a bearish feeling at the
i |. Net losses for the day were
24@23sc on wheat, December lead
ing, 3k6Ssc on corn, the latter on
July, I3@zs on oats, July leading,
and l@2Ac on rye, with July the
weakest.
A large part OF the advance in
grains made last week was lost, net
, declines on wheat being 74@913c,
tcorn lK@2Ac, oats lB023$c, rye
<4l0Ac, pork Sc lower to un-
changed, lard l2HGl71zc, and short
ribs s2K@57ac lower than a week
ago.
With more than 2,l00 cars OF
wheat at the four markets. and pre-
dictions of 1000 cars on sale at Kan
sas City Monday, combined with the
surprisingly nib run of wheat, 49,
S4l 900 bushels at primary markets
for the week or 13.o20,000 bushels
more than last year, there was enough
10 offset bullish consideration and
create heavy general selling. An ef
fort was made to advance prices
early on reports OF an export de-
mand.
Finish near Bottom.
The highest prices were made at the
a
and the finish Nc above the low point.
July wheat was exchanged even with Sep
tember at times and again at NC dis
count 1t finished s1.?:, with September,
sl.22%dI22h, while December was
gsL2514 G1?5h. A big trade was on, with
''commssion houses active the selling
side. while the buying was largely by the
leading interests and by houses with sea-
board connections, who were active in
absorbing wheat against export sales. The
buying. however. had no effect and was
largely on the break.
Hedging sales of wheat from all sec
tons, particularly the southwest, were
4 the largest of the season and were alb
4 sorbed by export houses. New York sold
around 100000 bushels and 727,ooO bush
els were sold here, largely for the latter
part Of August shipment
Limited Corn Market.
Corn was sold largely because Of weak
ness in wheat The buying was rather lin
ited and offset the effect OF dry weather
reports and higher temperatures. which
covered a wider territory. The crop is in
a critical condition, but country traders
appear Indifferent Prices declined lose
and closed around the bottom, with July
6S&c; September, 6lAc. and December
COS. 660Ac. There were 10000 bushels
of white corn sold at &c over Septem-
her for export. The weeks receipts OF
1,6Ssooo bushels were $4,000 bushels
under last year.
Oats were sold largely by schreiner
and Wagner, With lower prices for other
grains and only moderate support, prices
declined nearly 1c and finished easy at
4Ok @4OAc for September and 427s @ 43c
for December. Threshings in Iowa sug-
gest average Yields of 20 TO 80 bushels
an acre. with test weight Of q TO
rs pounds per bushei. Unfayorable reports
however, had no effect. The weeks re-
ceipts IF 1.s94O00 bushels were 3?4 900
bushels over last year.
July rye is considered, but there was
enough selling 10 depress prices o&c
while September lost only 1c. Export
sales were made at Duluth at Ic over
July, Z. o. b. boat there.
Pit Notes.
Wheat traders. While disposed to look
for lower prices Mo,rNy, were not as ag-
gre srsssssly dsy esarsh h,, as they were
ing of prices and thu large export buying
that develops as prices recede. Germany
and the United Kingdom were the big
obtained on the decline. II Is not likely
that the movement from the country will
keep up in large volume for an indefinite
period and the exporters and cash hand
lers are disposed to take the wheat while
II is offered freely and hedge it with sales
OF September. Hedging sales in the last
few days have been the largest in years,
the wheat going largely TO exporters.
There will be a big run of wheat in all
markets by Monday: also good increase
in the visible supply. How much of the
effect Of the big movement has been as
counted puzzled the trade last night
Among the leading interests it was said
that IT was not wise % press the short
side too strongly on declines, owing TO
the heavy export buying.
A feature of the trade in corn and oats
was the unspreadlng Of large line oy
Joe Schreiner. who was short corn and
long the oats. He has been selling oats
for several days and buying corn and his
purchases today were unusually heavy.
High temperatures prevailed in the
Canadian northwest and in the absence
OF rain crop conditions there appear TO
be going backward.
Seven of the leading railroads have
ordered out inspection crews for werk
Sunday and 1t is expected that receipts
OF wheat here Monday will be around 1,OV0
cars.
Further rains were reported in the
United Kingdom and the drouth is re-
garded as breaking. Excellent crop re-
ports are coming from Germany, with
Yields reported as above the average on
wheat and rye.
Oats have been losing friends the last
few DAYS because of a Jack Of interest on
the part of outside trading, despite the
continued reports OF small yields anu
light weights from all sections. There are
a few oats coming that test ~ TO 81
pounds and grade No. white
CHICAGO CLOSING PRICES.
70