Omaha daily bee., 1921-08-23
Chicago Grain
BY CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire

Chicago, Aug. 22.-Wheat staged
a rally late in the session and the
market closed at top figures. The
unexpected decrease in the visible
supply led to covering on the part
of shorts and later a report to the
effect that the house of representa-
tives at Washington had passed a
bill authorizing the war finance cor
roration to loan $l,000,0Q0,000 to as
sist farmers in marketing their crops
brought on an additional wave OF
buying, causing a big advance. AT
the finish, wheat was 2A@3c high
er; corn lB @1 ssc up and oats h@
| 34c higher. Provisions were weak.
| Vessel room was chartered for 1885,
600 bushels wheat, 10000 bushels
corn and 475,000 bushels cats at lMc
to Buffalo. Cash wheat premiums
were unchanged. save red winter,
which ruled higher; corn and oats
basis were easier.
Wheat market was advanced to a
fair extent in the foremost part of
the session, but in the later trading
all OF the grain was eliminated. Early
trade was featured by good pur-
chases by prominent shipping con-
Germ, which some close observers
were inclined to credit to local pro-
tessional who was covering his
short lines.
Locals Follow Buying.
Locals followed this buying but they
were compelled to retrace their steps later
when commission houses became free
sellers because Of a surprisingly big move
ment of winter wheat in the southeast,
Kansas City receiving 770 cars for the day.
This combined selling forces the market
back to the previous finish. Resting
orders absorbed the offerings on the break
The marketing of spring wheat is fairly
liberal. but somewhat below general ex-
pectations Receipts locally were es-
| timatel at 400 cars.
Corn prices were kept above the close
of Saturday. General interest displayed
in this cereal was light. Locals Were
sellers on the heavy arrivals here. the
estimate calling for 900 cars. The De-
cember delivery was picked UP by shipping
houses. Commission house trade was
mixed. Seaboard reported big business
worked for export account, the amount
night orders. Domestic shipping demand
was fair and sales of $4,000 bushels were
made.
OaIS rejected lu6 prevailing IoCdi
opinion that the bottom has been reached.
many traders who put out lines On last
weeks break covering this morning. Com
mission house buying was on much
Cash oats also displayed good strength
from the start, opening Nc higher. Ship
ping sales of $4,000 bushels. early gave
indications of a renewal OF an active
shipping demand. Country offerings OF
oats to arrive again were light. :.
Cash rye closed 1@1hc lower: NO.
sold at so99Shc: No. at s5@s5hc.
Pit Notes.
A cable from Buenos Aires to an ex-
port house said that although prices Tor
wheat In that country were 10 per cent
above an export basis holders would not
SELL expecting an advance similar to that
in flax, oats and corn. 1t is expected ship
ments will be practically nil. The pros
poets for the new crops are most irregu-
lar and there Ia still great need or RAIN:
Local corn stocks are down to 3,57s,000
bushels, decreasing 2,374000 bushels for the
week. Wheat stocks decreased 1,11S,ooo
bushels to 5,24S. 900 bushels, while oats con-
tinued to pile up rapidly, increasing l.
$40, 900 bushels for the week here.
Minneapolis cash wheat was easy to &c
lower for No. wheat, with good de-
mand. Most Of the offerings were cleaned
up. Duluth was bidding zoe over Septem-
ber for No. l dark northern for all Au-
gust shipment. and 15c over for shipment
by September IS.
Wheat Receipts Slump.
The receipts of wheat In the northwest
over the week k-end were smaller than ex-
pected, Minneapolis having 47s cars,
whick Is not a big run. Duluth had 100
cars, and the two points combined had
$50 cars, against 5S5 cars year ago.
mills apparently arc taking the spring
wheat arrivals and paying high prices for
the current arrivals Winnipeg arrivals
are gradually increasing and the move
ment will start earlier than year ago.
An advance in Argentine price for wheat
Saturday was due to short covering.
Broomhall cabled that rains would be
welcome in that country. Country sales
of corn were said to be falling Oft, and
reserves are getting low. .
The northern hemisphere will have
total wheat crop of 50,20o000 tons. COM
the international institute Of grain.
St. Louis Grain.
St Louis Aug. NEUTRALITY-SUSPICIOUS.
et1ozk hid. Decemher Al TN