Omaha daily bee., 1921-07-10
Chicago Grain
By CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire.

SuiCuko 1TiDuuC-oHinh1 Acu AfcusVu w
Chicago, July 9.-Strengthening
influence in grains were effective for
time today, but lack of outside buy
ing of sufficient volume was demon
strated later in the weakness that fol-
lowed an early bulge. The last
sales were around the inside price
of the day, with wheat 5H@3Mc
lower, corn off A@l7sc, oats, $50
| SSc and rye, 2Ac.
Those who bought on the advance
were sellers at the last. The short
interest was generally covered on the
bulge and friends of the market were
greatly disappointed by the late
weakness. The government report
was construed differently by the va
rious interests, but on the whole was
moderately bearish on wheat and
considerably so on corn and oats.
Closing prices compared with a
week ago show losses on all grains.
Wheat, 1A@4c; corn, lB@3Bc;
oats, B@lc; rye, l2Ac, July leading
the breaking in wheat and oats and
September in corn. Provisions
gained materially, closing 50@75c on
pork for the week, 40@50c on lard
and 25@32I7c on short ribs.
Black Rust Reports.
Traders who construed the government
report with It's loss of wheat last month as
hullish, bought early and prices showed
2@3hc under the previous days close.
There were black rust reports from the
Canadian northwest, but far no dam
age has been done. With weather favor
able for rust development. 1t is said
rust scare and heavy damage might re-
suit and the situation Is one that will
bear close watching.
Temperatures of 100 were reported in
North Dakota late in the day and
houses with northwestern connections
were good buyers of wheat futures on
market weakened. There was general
selling of July by cash houses and longs
and large buying by the seaboard houses.
who took more than 10000 bushels,
said to represent export business. although
no figures were given on actual sales
after the finish.
Country offerings were liberal. Cutting
of spring wheat is said to be on in Minne-
sofa and Winnipeg messages say cutting
will start in south Saskatchewan next
week. North Dakota will also be cut
ing by July 20.
Spread I'm July Wheat.
July wheat was up to $1.22A and as
low as s1.1sA, with the close at $1.1sA
011S%. September closed s1.1sh@1.1s
and December at s1.21. with August
$1.1Sh.
Buying of July against exports for |
shipment through Canada, combined with
62Sc, or NC over the previous days
close The bulge brought out selling by !
the leading cash interests, who also took
September for time and later sold
the late break Of nearly &c, with the
close 59@59hc.
Local traders bought oats early on the
hullish government report and advanced
prices Nc on a break in other grains and
a lack Of support brought unloading to- |
ward the last on g. break Of NC in July |
and 1c in September.
Rye was in demand early from sea-
board houses and export sales of $4,000 |
bushels were made for shipment in about |
two weeks at 15c over July. track Balti- |
more. A break Of &c came at the last. |
with July at SLIT
Leading cash houses in corn have sold |
2,250,0 600 bushels for export this last week |
and chartered boats for it. Corn is be- |
ing moved out to Montreal as fast as
possible Exporters paid 1ohc over
Chicago. July G; t. (. Montreal. The
out on all bulges and the September was
bought on the break. Evidently the trade
believes that there is enough September
sold to take care of all the July and q
margin additional.
The engineers and firemen at the grain
elevators have accepted 20 per cent
in wages and increase from 46
to 4S hours per week. This notice was
sent to the elevator employers today.
Latest reports from the seaboard say
I, 900, 900 bushels of wheat, $4,000 bushels
corn and 100000 bushels rye have been
taken for export.
Two stalks of corn nine feet high were
received here yesterday from Coon Rap
ids Ia. The plant had commenced to
tassel and showed evidence of setting
three ears per stalk.