Omaha daily bee., 1921-12-16
Chicago Grain
BY CHARLES d. MIcHAELS.

suiesao ACKNOWLEDGEMENTS hse irasru Wue.
Chicago, Dee. ls.-Wheat made
its lowest prices early and the high.
est toward the last. An oversold
condition was disclosed when shorts
started to cover and a rally OF 7-S
az 3-8 from the inside figures
followed with net gains OF lGl Sac.
Corn showed strong undertone
throughout the day and closed l-2
1s-8c higher. while oats were Ia
MJ-Sc higher and rye l@i lac
higher.
The greater part OF the early news
was OF bearish character, and with
sentiment favorable for lower
prices. a decline OF around lie for
May was easily attained. Scattered
liquidation was on in the December
and il dropped TO Sac under the
May, against &c under at the finish
the previous day and also affected
sentiment. Forecast Tor rain or
snow over the entire winter wheat
belt was the dominating influence
carly.
Final upturn sharp.
Around sl,1Os for May there was per-
slstent buying on resting orders, partly
from local operators who sold at the
close OF the previous day. on the way up
commission house buying increased and
the final upturn was very sharp. WASH
ington reports that blll had been In
troduced In congress to appropriate $780,
GEO, 600 with which to buy foodstnffs for
Russian relief had considerable effect. MS
In the latter market closed at 3Ac under
Chicago against Gae Tuesday
Expert demand for wheat from abroad
was Disappointing. and while there were
claims OF 100000 TO 500, 900 bushels hsv-
lug been sold abroad. doubt was expressed
In some quarters as TO the sales Omaha
high prices in that territory for grain
to go 10 the gulf. presumably for mixing
purposes, as the price offered was mater
tally above what. handlers were asking
10 show any Improvement. Premiums
at, Chicago were unchanged. with re-
Liverpool Closes Higher.
Liverpool closed u old higher In the
face of the strength In exchange, and
failed to bear out the claims OF Mani
TOBIAS TOBIAS being offered &c below replace
December corn failed to get below the
previous days close. due to buying by
several strong commission houses. and the
undertone was firm at the start. The
late strength In wheat and prospects that
bushels corn for Russian relief had some
a decline of I@hc in cash grain as
that foreign bids at the seaboard were
were claims OF lo0.o 900 bushels sold
abroad, Domestic shipping sales aggre-
gated $4,000 bushels with receipts 1913
cars. ....
Oats held within range of %@tsc
and closed at the ton in sympathy with
corn. Trade was light and mainly Of a
n hOr a,sfn onh alaS ~ httt,t ,t,,u
was reported at Winnipeg on resting or
ders and that market gained on Chicago.
Export clearances for the day were $4,000
bushels. indicating some business has
been done abroad without being reported.
Sample values were unchanged with re-
ceipts so cars and shipping sales Of 65,-
Exporters were after cash rye and took
10000 bushels here. and there were other
orders somewhat under working basis.
Futures were dul! and influenced mainly
by the action Of wheat. Receipts, two
cars.
Tit Notes.
: f: F.. Rosenbaum. president Of the
Rosenbaum Grain company, cabled his
"Do not think it possible to sell any
wheat here at present, even on credit. as
ferings from Argentina are cheaper than
The Northwest Miller said that flour
sales. although still below. normal. were
little better last week. Exporters
have bought second clears more freely
The output of flour by Minneapolis mills
was $4,000 barrels, the lightest of any
week this year.
Armour was credited with buying De-
cember corn in the pit as well as Kemp
ner Selling was scattered.
Murphy wired Logan Bryan:
"We have reason. to believe that an ex-
celent authority will ISSUE in the course
of a few days report making wheat
crop of western Canada 0l.000,0o0
bushels with about 45.ooo,0oo. bushels left
In farmers hands to market. -
The Winnipeg futures were relatively
firm and prices were steady as result
of covering by shorts and some buying
supposed to be against export business. :.
Receivers reported little falling OH
in offerings Of corn as the result OF the
drop in prices, but the movement con-
tirues liberal From ne-third to one
half of current receipts of corn are 10
apply on old business. however.
Export business was OF fair proportions
ir wheat There was little inquiry lot
gulf wheat and some business appears
to be doing right along in durums..
Liverpool reported offerings OF oo.h
Plate and American corn increasing. re-
sulting in a heavy market for spot corn
ir the United Kingdom. The consump-
tive demand is still slow. owing to the
continued mild weather
CHTcAGO CLOSING PRICES.