Omaha daily bee., 1921-07-26
Chicago Grain
BY CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased Wire

Chicago, Ill.,, July 25.-After ruling
easy most OF the day. wheat devel
oped strength, which carried prices
to above the previous finish and
resting spots were at highest points.
Reports that wheat bought by Bel
gium in Australia is being received
out of condition and that exporters
were in the local market, but unable
to secure their requirements, were
dominating factors in the late ad-
vance. Short covering was extern
sive and the commission house de-
mand of good class. Closing prices
were 1@1 1-2c higher on wheat and
3-8@5-8c higher on corn. Oats failed
to follow the advance in wheat and
the finish was at losses of 3-8@5-8c.
Rye was irregular, July ruling 1c
lower and September l-2c higher.
Provisions were lower. Final ship
ping sales were reported at $4,000
bushels wheat, 775,000 bushels corn,
including 100000 bushels to export
ers and 10000 bushels oats. Sea-
board reported 100000 bushels wheat
sold for export in all positions.
The undertone of wheat was easy. The
enormous receipts locally as well as in
the southwest and constant hedging sales
in the pit counted strongly in making the
trend Of values lower one. Opening
was met with a general rush to sell. but
on the break better demand developed
and the market recovered all of the loss
sustained. only to meet with increased
pressure and setback. Prospects were
for big increase in the visible supply
Chicago arrivals were estimated at 1900
cars Kansas City was in receipts Of 1858
cars, while st. Louis and Omaha received
were good bids in the local market from
exporting sources and indications pointed
to liberal acceptances Seaboard reported
sales Of 100000 bushels for export. De-
lveries on July contracts amounted to
$4,000 bushels.
Damage in Canada.
A crop authority travelling through Can
ada sent in adyices to the effect that.
although he had seen but a small portion
Of the Canadian wheat belt. he had wit
messed enough to satisfy himself that the
crop would not be a bumper one, as
damage from heat and rust has been
complete failure was noted. Liverpool fu-
lures closed 1hd lower.
There was fairly good trade in evil
dence in corn Prices averaged lower,
yielding to general commission house SELL
ing, based on rains in Iowa and the easier
tendency in wheat values. Fair support
was afforded the market on the dip by
local interests. market making a partial
were 5000 bushels Cash market was
easier, with the basis being lowered to
moderate. Receipts were liberal the es-
timsts oats being placed ATT, at $50 cars
OF the session: more In sympathy with
In ITS own tone. Reports from the country
continued to tell Of disappointing yields
OF new lightweight oats. On the other
rather active inquiry for old oats Cash
oats started Sc lower and basis easier.
Cash rye close ~ @2hc lower. No.
: ;,sSa,a sSS st si.sSA @1.ssh; No. sold at
Some buying Of futures in wheat was
induced by cable In regard to the con-
dition of Australian wheat arriving in
contracted for 100000 bushels Australian
wheat. and that what had arrived so far
had been found unfit for milling.
Leeount wires stein-Alstein from Moose
Jaw. Sask.:
wheat and oats from Esievan here
are generally heavy. but wheat has been
more or less damaged by heat and is not
filling well for bumper crop. though a
are generally only filling two kernals in
mesh where there should be three. |
Lots Of red rust and some black rust.
Nccu Two WtchS more sunshine TO mature
and there Is yet plenty of time for heavy
losses from black rust. There will be
some damage. but / believe losses will
be confined principally to late wheat
Showers today"
Illinois Selling Wheat.
Southern Illinois advices indicate the
movement of wheat will be over in an
other week. Advices 70 the same effect
have been received from points in north
central Missouri.
Deliveries on July contracts were $4,000 |
bushels wheat $4,000 bushels corn. 5000
bushels oats and 10000 bushels barley |
Lard deliveries were 1,05c,O0O pounds
Broomhall estimates European grain
crops, excluding Russia, at 120, 900, 900 !
bushels more than was raised last year. |
He states, howaSsr. that imports Of grain |
will be about the same as the previous
year. $50, 900 900 to 500, 900. 900 bushels
Lecount. the Stein Alstein expert, says |
that much Of the late wheat in Canada, |
which is extremely heavy, is being hurt |
by premature ripening Fields that prom |
ised 80 bushels will not make over IS
bushels. In the extremely late wheat |
there is possibility Of much damage from |
black rust. |
The seaboard continues to buy corn |
futures on a fair scale. Limits were about |
nc easier on both corn and oats In the |
early cash trade. Receipts of oats were |
little too heavy for the demand.
Visible Grain Supply.