Omaha daily bee., 1921-11-29
Chicago Grain
By CHARLES D. MIcHAELs.

Chicsxo Tribune Omaha Des leased Wire.
Chicago, Nov. 28. - Sensationally
bul'ish news had a radical effect on
wheat prices, which advanced TO 4
new high on the present movement
and closed within Hc OF the top with
net gains OF 2He. Coarse grains were
rather heavy and corn closed un-
changed TO Bc higher, while oats
were H@%c lower. Rye was J4@
lhc higher, the latter on December.
There was decided change in the
character Of the news, which was
strongly in favor Of higher prices.
Liverpool advanced I'd for the day
on account of small worlds ship
ments with nearly rs per cent Of the
total movement TO non-European
countries. Buenos Aires opened lHc
higher and drought reports are in
crcasing from southern Argentine.
Kansas Report Low.
The most sensational feature, however.
was tho Kansas state report which show
ed condition OF $50. tho lowest for
November on record, comparing with SIS
year ago, and a l0-year average of 81.
Toward the last Broomhall was out with
statement cutting down the Australian
surplus 10000, 900 bushels to IA total OF
80, 000, 600 bushels and reported uHtavorable
conditions Tor seeding In France and
Italy.
Strong commission houses wero persis-
tent buyers OF wheat from the start and
at no time were prices lower than tho
previous finish. There was eonsiderab bio |
selling on orders on tho way up. but the
surplus In the pit was gradually absorbed |
Nj In hn
close. Cash interests bought December |
and sold May while December longs were |
disposed TO liquidate. but the difference |
showed no change at the last. Receipts. |
~ cars.
... Corn Prices Hold. i
Corn prices held within a range OF MO |
Nc and averaged lower with northwestern |
and local elevator interests on tho selling |
side While sentiment was generally bull
ish there was a lack OF aggressive buying
at times. Country offerings were limited
and New Orleans outbid Chicago In Illi-
nois over Sunday and sales OF 100, 900
bushels were reported made to the gulf
In the west. Nothing was heard of sales
to exporters during the day, the inability |
to secure the grain in the country being
factor Receipts, S5l cars.
Liquidation was on In December oats
and commission houses were free sellers
Of the nearby and buyers Of the May de-
livery widening the difference TO SIC. the
n
buyer OF May. The visible supply showed
a small increase. but statistics attract
little attention at the present time. Prem
iums on spot were slightly lower. Re-
ceipts, 11b cars.
Houses with seaboard connections were
fair buyers of rye. but the market In the
main was affected by the action OF wheat.
Sales of 100000 bushels were sold to 10
to store. Number on track sold at 1hc
over December. Receipts. 20 cars.
New York wired Stein Alstein:
"a leading exporter says it is going to
be difficult to make gulf No. Q hard. Called
three houses who could not mako the
grade and had to buy it here to fill CON-
tracts"
Wheat was regarded az displaying a
marked buflish sentiment on account Of
having worked into new high ground and
because It held the major part Of Its ad-
vance in spite of heavy local selling a.
well as free realizing.
Late foreign news was favorable to
holders OF wheat One cable was re-
ceived saying that the estimates OF tho
Australian new crop surplus has been re-
da. dueed from 1oO,ooo,ooo bushels to so,-
100000. Other reports Of dry weather in
Argentina caused little early buying.
Closing Liverpool cables were 22hd upon
wheat, buying being induced by the Ar.
gentine and American news.
Kansas City wired Thomson McKinnon:
Wires received here from western Kan
sas reported dust storms and high winds,
blowing wheat out Of the ground"
Portland, Ore, wires Logan & Bryan:
For the first time in several weeks
our wheat market shows signs Of strength,
prices advanced Saturday &c to 4c. Re-
ported Germany has purchased hard red
wheat, and demand for these varieties IL
keenest at primary points"
There will be no big run Of corn for
some time according to James Ryordan,
who was down state over Sunday Husk-
Ing 10 far from finished in many sections,
and operations have been at ebout a
for several weeks. Farmers
are unable to haul on account of bad
roads. and are making no special effort to
sell corn anyway.
Winnipeg reported No. northern 2hc
over the November and Minneapolis No. |
northern was relatively 1c up. A good
denand was reported at both markets.
Agricultural conditions are improving
said Secretary Of Agriculture H. c. Wall
ace, who was in Chicago to attend the ,
International Live Stock show. Mr. Wal
ace said Loans of $4,000, 900 to $1,000
700 a day are being made through tho
war finance corporation to farming and
i've stock interests and 50 far SIC, 600, 900 ]
has been loaned. The results will be
,