Omaha daily bee., 1921-08-26
Chicago Grain
BY CHARLES D. MICHAELS.
chicago Tribune Omaha Bee Leased Wire.

Chicago, Aug. 2s.-Considerable
strength featured the late trade i'll
wheat. Short covering was largely
responsible for the advance. The an
nouncement issued earlier in the day
by the war finance corporation failed
to encourage any big buying, but
later when it was noticed that cot
ton prices advanced sharply owing
to the passage of the rural credits
bill, more attention was paid to the
activity of the corporation, and
shorts found it difficult to cover 5e-
cause of limited offerings in the pit
Wheat finished with gains of 20
23-4c, corn was up 1-4@5-8c and
oats 1-8@3-8c.
During the fore part of the ses-
sion, the wheat market exhibited lit
tie activity and prices moved with
in a narrow range. The start was
a shade higher on buying by Updike
and locals, but the former sold later
and there also was selling credited
to northwestern interests.
Values Forced Down.
The combined selling forced values to
below the previous finish. Locals were of
Ia bullish disposition but they expressed
disappointment in the failure of the mar
ket to advance on the receipt of news
from Washington that the war finance
corporation announced negotiations for H.
nancing the movement Of 14.500.000 bush
els of wheat were approachinm COM
pletion.
and they bid SC over September prices,
|c. ! f., Buffalo or Georgian bay, but
sellers were asking Ac better rate and
no early business was worked at either
basis
Corn prices failed to fluctuate much In
either direction. Like wheat, trade was
of minor Importance. Early in the day
there was selling OF september against
purchases of December by a cash interest
and this served to place the two months
on an even basis.
Oats trade was duh and narrow. with
prices ruling lower after opening fraction
ally higher. Trade did not broaden as
much as expected and little selling pres
sure was exerted due to the possibility
that the operation of new reduced freight
rates will be unfavorable to holders of
Cash rye closed unchanged. No sold
at 81; No. at 97Q97hc.
Pit Notes.
An Argentine cable said the movement
of corn from the country had fallen off
and that clearances also were smaller.
which may account for the increased
demand for corn for export in this coun-
try.
Argentine shipments for the week were
estimated at 555,000 bushels of wheat,
2,400, 900 bushels of corn and $4,000 bush
els of oats.
Receivers report small offerings Of oats
from the country and are of the opin-
ion the run Is about over for the pres
ent. Wheat acceptanceg also are light.
Corn sales are fairly heavy.
Nearly all the leading shipping and
export houses were reported in, the mar
ket for corn the last few days and again
this morning. With the larger receipts
there is more competition and the corn
has been easy to SELL Export brokers say
they are able to sell big lots Of corn
where 1t is available.
Cash premiums at the seaboard were
reported firm for wheat and corn. Moder-
ate acceptances of wheat and corn were
reported from the other side on over
night offers
Local exncrto-s 10 not expect much
nent from the operation OF the farm
credits bill. which mas just been passed
by congress. They claim that 1t is pos
sible now to borrow money to handle ex-
port grain business and that the terms
offered under the new act are no easier
than those now obtanable.