Omaha daily bee., 1921-06-04
Chicago Grain
BY CHARLES D. MIcHAELs.

Chicago, June 5.-Trading in con-
tract wheat in store for September
delivery will begin at the opening
OF the market, Saturday. June T.
Wheat finished weak and lost all
of the gain made on yesterday.
There was wheat for sale most of
the session and much of it was for
long account. The estimate that
Italy will need only 40,000.000 bush
els of wheat this season, against
110, 600 imported last year, tend
cd to depress the market The fact
that assessors returns show much
larger acreage than government es-
Inmates also had some effect.
Corn was off lls@l5sc and oats
were 34@lc lower. Rye was Sc
lower, barley Ia cent and ribs were
eye lower. Local cash sales were
l.s00 bushels of wheat, l15,000 bush
els of corn, including 100000 bush
els to exporters, and $4,000 bushels
oats. Barley, $4,000 bushels. Cash
wheat premiums were 2 to 3 cents
higher, cash corn and oats "a bet
ter and rye 5@5Hc higher. Ex-
porters bid 47c over July for No. |
hard winter wheat, track New York,
for nearby shipment. Vessel room
for 100000 bushels of corn was
chartered for Montreal. Sales of
100000 bushels contract oats were
reported to go to store.
wheat Opens Firm.
new high on the crop but thereafter the
market weakened and substantial losses
were recorded within the next 10 TO is
minutes The buying at the start was
through many commission houses which
have recently been - - buying side,
Later one Of the r. g. local longs put
wheat in the e /, which proved the
last straw, .toricaly speaking, and
the buyira cover was crushed under this
load. lttered buying on resting orders
halted the de"tne but the market ex-
hibited poor rallying power.
1t was int,mated byApeople who. claimed
to know, that eastern interests that took
the cash wheat in on May delivery We're
pose Of the cash grain. This caused
some of the selling. although reduction
of &c in the price of Argentine wheat
to foreign buyers because OF turn IN
morale OF longs. Seaboard reported ex-
port demand slow with Belgium out OF
the market. Present prices have induced
freer selling Of wheat by the country.
Corn Market Weaker.
Corn was weaker at the start and the
only support later in the session was in
the nature Of buying against indemnities.
The continued big run OF corn to market
is depressing 10 the bull side and COM
mission houses generally were on the
selling side at the start, much OF this
being for long account. Country offer
inss to arrive are said to, be moderats
Montreal exporters were after corn and
it is believed that fair-sized amounts were
taken. but no figures wete reported
Weather conditions are ideal TOR the
Oats exhibited weak undertone along
with wheat and corn. There was pres,
sure from some OF the prominent local
longs, while aside from little demand
from commission houses early support
was found lacking, Receipts were again
large the. estimate being for 1855 cars
contracts There was little inquiry. from
the east for oats overnight. but during |
the session the demand broadened out
being worked before the end of the day.
slss se and NIs 10. % at i si.Ss g. Reesipts two
cars
The Modern Miller, In it's weekly re-
"Recent hot weather forced winter |
wheat too rapidly in a number OF sec
Harvest mas Co commenced in the southern
,dge of Oklahoma. Crop is heading in |
practically all states and bloasomins q:
ar as north as central Illinois. General
. crop larger than last year. but the |
oss during the month Of May was ma |
.erial. Condition of spring wheat is good. I
Weather has been favorable and forward |
of we'll maintained Some |
decrease in acreage Indicated
Trading in September wheat futures will |
start at the opening Of the market to- |
morrow. This announcement followed ac-
lion by the directors Yesterday. Early |
IN the day notice was received that Du- |
uth would begin September trading to- |
|
Germany is expected to buy considerable
,orn from time to time; according to New |
Fork, sales today were $4,000 bushels. |
Corn shipments from Chicago were heavy
yesterday at 1.f4s. 00e bushels.
E. r. Leland 4 Co., Fairbury, Neo, |
while prospects for the wheat crop In
Jefferson county are not what they were
pack in the last week. In fact. many |
hink conditions are improved. Corn is
ip and being worked for the Hrst time.
rhe stand is good"
A New York wire to NcKenna- Dickey
aid that Argentine corn samples showed
splendid quality and that with 100000
100 bushels surplus in that country aEail-
lble, the end of our export business IN
orn was in sight.
There was some export business. in oats.
Judging from the character of the buying
Il futures. This is the first time business
eported in this grain In some time.
Country selling of wheat for July-Au
rust shipment from the new crop Is in
reasing in volume. J. ]. Stream had
fought 10000 bushels from farmers since
loon yesterday This is the first big
OF OF wheat bought reported so far and
he message also stated that central 1lli-
,ois farmers were willing to sell at pres
mt prices.
Cooler weather conditions were general
'yer the principal grain states. Okla
IONA had rain and the official map
howed quite general rains throughout
Texas Kansas and Nebraska. From
heather standpoint wheat conditions are
much better and reports should show some
owinx to sharp break in exchange, L
argentine prices for both corn and wheat II
vere much lower TO foreign buyers, al
hough the quotations were unchanged
-esterday. Argentine corn is said TO pc
I good quality and Europe is expected TO
uy freely. II
Gulf premiums for wheat we're a little
irn,er, with first half Of June shipment Il
uoted u cents over Chicago July ana
ast half June shipment Al cents over.
Dun's Trade Review.
New York, June 3.--pun's tomorrow VIII
"Another month has passed without
h,sas ht4t 0AA IT,