Omaha daily bee., 1921-07-30
Chicago Grain
By CHARLES d. MICHAELS.
Tribune Omaha Bee Leased Wire

NnlCaSO, july IS.-LoWeSt prices
were made for grains at around the
close and all showed good losses.
There was bulge early but the buy
ing gave out. Bullish crop reports
had only temporary effect, while the
selling pressure, which was light
early, increased toward the last and
made tame and unsatisfactory
close. Net losses for the day were
SC on July wheat and lH@2c on the
distant futures, while corn lost 1zM
lAc. oats. B@l3sc, and rye, 14@
2Ac, the distant futures leading.
A bullish crop report issued by
Snow, Bartlett, Frazier showed only
762,000,000 bushels of wheat, or
2s,000,00O bushels less than har-
vested last year. 1t gave the wheat
market strong tone and brought in
buying which advance prices nearly
&c. The top was $l.26A for Sep
tember. Buying gave out on the
advance and price dropped 2Hc,
with the close around the inside. The
lack of outside support, coupled with
the increased pressure from hedging
interests and liberal local selling on
the weakness in the cash markets in
the southwest, with falling off in
the export demand, were late de-
pressing factors.
Brazil Buys Wheat.
Despite the claims from somc people
at the seaboard that there was little
demand for wheat. Brazil bought two
eargoes aggregating $4,000 bushels, the
hedges against which were taken off
mere sweden bought cargo and in all
about 10000 bushels were taken for ex-
port.
Chicago sold 10000 bushels for ex-
port and $1,000 bushels to mills. Sea-
board houses were good buyers. but all
wants were satisfied by local and out
side interests and there was also selling
at times by eastern houses.
Scattered rains over a good part OF the
corn territory where needed combined
with weakness in wheat, had a depressing
Influence on corn values Trading early
was liberal, with a good class of buying,
but liberal selling by the leading inter-
rsts. particularly for July, supplied all
buyers wants and the finish was tame.
A feature was the lack OF stop loss SELL
ing orders for September at so cents and
the close was at so to 60hc. July was
64hc and December closed 6o& to 80 Nc
the lowest of the week. Cash prices
were " to 1hc lower.
Oats Prices Break.
Oats were little influenced by the ex-
tremely hullish crop report issued by
Snow. showing 1,07s 600 bushels.
loss of 400. .000, 900 bushels for the month.
Prices were Nc above the previous days
which closed at 35h CIR &c under Sep
tember with December &c over Septem-
Der. Cash prices lost " to 2hc. with
shipping sales 10000 bushels and de-
iixyor hna hal Mnat 0f ha
cars are new with No. whites 2ia to
sc under September and No. whites
~ to SC: No. whites, 6& to and
sample grades, to loc under September
New York exporters have agreed to
take No. rye at 7c under No. after
the market had a good break with few
cars sold at zoe to 22c under July, while
others brought 7c to 10c discount. in all
81 cars No. 3 being traded in. The dis
count on No. 3 was too great. No sold
at &c under. Cash houses sold the July
and shorts were the principal buyers. Re-
ceipts were 120 cars and deliveries $4,000
bushels.
Pit Notes.
Lecount wired Stein Alstein from Big
gar. Sasks.: Wheat looking generally
good through this territory and is about
an average crop. 1t is taking color and
heads are filling well. There is enough
turity. but 1t needs about two weeks
more favorable weather. Don't think black
rust o factor here"
Timely rains fell yesterday and last
night over a great portion of the corn
belt. sections most in need of moisture
receiving considerable rain. In many
sections this rain will about make the
crop. The southwest corn crop already
is about made and from all indications,
will be q bumper one through Nebraska,
Kansas, Oklahoma and Texas. Northern
Illinois still needs rain badly.
Threshing returns from the northwest
in many instances are bearing out claims
OF short yields, due to premature ripen
ing. Rust damage does not seem to have
been as much a factor as the intense heat.
Some sections are reporting yields of four
to eight bushels and a message to Clement
Curtis from Fairdale. N. D.. said wheat
was turning out 10 bushels where 1t was
expected the average yield would be
around 90 bushels, as this is one Of the
best sections Of the state.
Overnight sales Of wheat from here
were 100000 bushels, the late decline yes
terday resulting in considerable business.
A cargo Of wheat was worked to Sweden
over night. Foreign demand, however,
was quiet, according to early reports.