Omaha daily bee., 1921-07-02
Chicago Grain
By CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire

Chicago, July l.-Realizing sales
by longs, who did not care to accept
the risk of carrying wheat over a
three day holiday in a weather mar
ket, caused the market to weaken
and the close was l-2@2c lower.
First car of new wheat received to-
| day from central Illinois. 1t sold
for July price.
Corn finished 1901 l-2c higher
and oats also advanced 1901 lac.
Rye was l@2 LAC lower and barley,
IA off. Provisions were steady. Lo-
cal cash sales were 10000 bushels
of wheat, $4,000 bushels corn in
cluding 10000 bushels to exporters
and $4,000 bushels of oats. Seaboard
reported England trying to resell
wheat because of the larger Aus
tralian offerings. Belgium brought
100000 bushels Of wheat in Argen-
tina today.
The strike situation is partly in
terfering with shipping business.
Elevator operators will attempt to
load vessels from river houses, but
SO far as South Chicago is concerned
they will not accept vessels for load
ing for the time being. Exporters
bid lc over July, c. i. +. Buffalo, for
No. 2 mixed corn either fresh shelled
or kiln dried next weeks shipment.
Wheat Market Nervous.
1t was nervous evening up market in
wheat and price trend was erratic. Lower
prices at the start were due to pressure
inspired by the cooler and wet weather
In the Canadian northwest and there was
some selling by the country. There was
big buying by eastern commission houses
and locals on the dip, and prices rallied
sharply. On the bulge there was more
by some Of the outside longs and prices
at mid session were lower again. There
was disposition shown on the part OF
longs to even up before the holiday.
The weather map indicated that there
is a possibility of cooler and unsettled
weather over the northwest during the
rains in the more northernly sections of
Canada. while southern points were miss,
ing. indicating possibility Of disturbed
weather in those sections. There were
light showers in North Dakota and just
across the border from Williston the tenn.
perature was So, indicating that part OF
the unsettled weather had worked across
the border. The monthly estimates OF
Snow and Goodman show further deterior-
alton but their estimates were better than
expected. Local receipts were estimated
at 20 cars.
Corn Shows Strength.
Corn exhibited strength. The fact that
100000 bushels of corn were delivered
on July contracts and failed to come out
in the pit, forced many short sellers to
come in after liquidation failed to appear.
market after the Fourth Of July and there
was much covering by shorts and invest
ment buying of the deferred months In
anticipation Of this scare Receipt, ,t~saS were
little corn out over night, anticipating
difficulties In making deliveries because
sof the elevator strike.
Fair gains were established In oats at
the immediate start, but setback oc-
Cured later, with the deferred deliveries
losing almost all Of the grain. Trade was
featured by continuation OF buying the
current month against sales OF September
and the margin between the two was cut
to zoe. Factors in the advance were the
disappointing deliveries on July contracts,
which amounted to only Ssl,oo9 pusneis,
hot winds and dry weather in Minnesota
and the firmness in other grains.
There was little business transacted for
shipping account owing to the fact that
overnight in view of possible interference
in fulfilling their contracts by labor
troubles in elevator circles. Receipts were
much lighter, the estimates being placed
There was no rye offerings on the mar
ket today. No. was quoted &c over
July.
Country offerings were reported liberal
in the southwest Farmers appear to be
willing to sell as soon as they have their
wheat threshed. The export demand was
fair yesterday with sales placed at 100000
bushels, which would offset the country
selling to some extent.
Outside trade did not follow the upturn
in wheat as expected. Commission houses
had plenty of wheat for sale on the rallies
and this offset local buying. Some or the
larger local shorts were credited with hav-
ing covered freely the last two days, which
deprived the market of support from that
quarter
said: "Wheat suffered a total loss Of 25,-
900, 900 bushels from the June /, govern
ment report. The winter wheat condt-
ton, based on estimates and threshing re-
turns, is 75.4, last month, 77.2; indication.