Omaha daily bee., 1921-06-26
Chicago Grain
By CHARLES D. MICHAELS.

NntChkO ASSC A<S"oeu "AASs
Chicago, June 25.-Crop news from
the northwest was mostly bullish
and there were heavy rains in the
southwest, yet cash houses in that
section were free sellers of wheat
here for July delivery. A general
weekend evening up was on and at
the finish July wheat showed loss
of 3c, while September gained 1Alc.
Corn, although having a break, fin
ished we'll toward the high point,
with gains of 13@lc, and oats were
up 1s038c, while rye gained H@Sc
for the day. The trade was greatly
divided because of the various con-
flicting reports.
Closing prices compared with
week ago show gains of 2 cents on
wheat, 3s@5sc on oats, 1M@24c on
rye and 21ac on barley, while corn
is 5s@Ac lower. Provisions were up
20 cents on pork and 2212c on lard,
while ribs were unchanged to 2Ec
higher
Sell July Wheat.
Action of the southwestern cash houses
in selling July wheat. with cash prices
at Kansas City to &c higher and wet
harvest on there, led local holders and
others to sell wheat in Chicago, which
tended to partly offset the effect Of black
rust and crop damage reports from the
northwest. sent In by Crop Experts Snow
and Lecount.. Chromwell. the Wagner
crop expert, after tour OF the northwest,
takes a different view and says rust in
the spring wheat country is OF little con-
sequence Houses with eastern connec-
tions were good sellers of July wheat
ap business Iipnited. with 0nfy
100. 900 bushels sold.
Exporters bid &c over July for hard
winters at New Orleans. June shipment:
and 2Oc over Galveston for the first half
of July. with the last half 16c over. The
weeks movement suggests another de-
crease in stocks here, although primary
receipts of 7,o72.o0O bushels were the larg-
est at this time in more than five years.
and 2,439,000 bushels in excess of year
ago. July was up to s1.31A and closed
half cent below that point, while Septem-
action of half cent. Country offerings
Longs Sell Corn.
Local longs were good sellers of corn,
going out of a large part of their hold
insg on the break. At the same time
there was active coverings by traders
who had corn sold at a higher level and
sold out early were taken back later in
the day on the break. July was up NC
to 63c carly. with the low point half
cent under the previous s days close; lose
to the top and more than 1c above the
low point.
Slowness of the cash trade with sales
OF only $1,000 bushels, was a depressing
early factor, but the rally in futures at
the close had Strengthening influence on
cash values and the early loss was re.
covered. Primary receipts Of 6,S7s,ooo
bushels for the week were the largest
in five years with the exception of last
year.
Heaviest trading in oats was at the last
Northwestern and seaboard houses buying
and early sellers covering. rop news was
unfavorabe. Primary receipts for the
week at 3,273,OOO were below the average
July rye was bought by seaboard ex-
porters and sold by spreaders. There were
carlots brought 8 cents over July on truck.
Prices advanced and closed at the top.
Pit Notes.
Beneficial rains were reported as falling
In Argentina in cables from Buenos Aires
yesterday This is expected to relieve the
drouth which has prevailed in the north
ern part of that country.
French government has decided to Inn
pose an import duty OF 30c per bushel
on foreign wheat, effective July l. when
the grain trade will be decontrolled. II
the international price Of wheat advances
abnormally the duty will be lowered ac-
cordingly.
One of the largest local operators says
he would not advise buying Of wheat,
but believes corn and oats are selling too
low to give the farmer any profit
Northwestern houses and those with
connections in that section were active
buyers of offers on September wheat
yesterday, advancing the price from
$129A to $1.31A.
Gluten feed is offered sparingly. Is
stocks are light and comparatively little
is being made. The price Is $3.50 in
bulk at Chicago.
Good progress is being made in re-
moving the grain from the Northwestern
elevator at South Chicago. which recently
exploded. There was 5,770,000 bushels.
mostly corn and oats, in the tanks at the
time Of the explosion. All will be cleaned
out inside of two weeks. Repairs on the
elevators have started, but it is not ex-
pected they will be finished inside of
eight to nine months.