Omaha daily bee., 1921-08-11
Chicago Grain
By CHARLES D. MICHAELS.

1
Chicago, Aug. l0.-There was
everything ready for a strong ad.
vance in grain markets, following the
government reports showing a de-
crease Of 100000 bushels wheat,
81 100000 bushels corn and l92,000,-
90 bushels oats during July. Prices
started high, but the buying failed to
develop and with increased selling
pressure from all classes of traders,
a large part of which was attributed
to the leading local interests, prices
declined and closed around the low-
est of the day. The markets action
was great disappointment to most
of the trade, as there was net loss
of | "a to 2 lac on wheat, 3-8 to
&c on corn, SAC on oats, lac on rye
and &c on September barley.
Provisions did not escape the SELL
ing and broke sharply, losses on lard
being 81 IL to 80c and short 621-
to u 1-2c for the day.
Traders did not want for bull;sh
news, as there was plenty of it, but
its failure to bring in the support
necessary to make strong and ad-
vancing wheat market vas lacking.
1t was said that exporters, anticipat-
ing bullish government crop report,
sent out their offers on wheat Tues
day night at high prices, which for
elgners were slow to pay and export
business was curtailed, only 100000
bushels being sold abroad in addition
to $4,000 barrels of -four. Prices ad-
vanced &c early, only to break to
4 lac and finish at SLIP to $1.21 3-4
for September and SIPS to $l.24 3-4
for December.
Large Country Offerings.
Higher prices sent to the country in
expectations of an advance the bull
ish crop report brought increased offer
to meet the demand expected and prices
in most of the markets there We're TO
2 cents lower. Wichita. Kan, reported
81 good milling demand which cleaned
up the market at cents advance
Russian news was moro emphatic as
regarded the need of supplies aggregating
1000, 900 tons Of food to prevent starva-
tion. Broomhall, the English authority
estimates the European requirements for
the season at 6S2, 900. 900 bushels, fnclud-
ing 40,000,0O0 bushels for Russian relief
and a surplus of the producing countries
of SCI, 900, 900 bushels. This makes a close
adjustment of supplies to requirements
which might easily be thrown out of
line by crop damage in Argentina, Aus
traia and India
Movement figures show decreases from
last week and large excesses over last
year. Export clearances were l.431,0oo
bushels.
Break in Corn.
Corn traders did most of their buying
m ha at hn hal sal
ing later on the break. At their best,
prices were y to &c higher with break
Of ~ to 2Sc and finish at 5sA to
December. The decline was helped by
the government weekly weather crop
bulletin, telling of rains benefiting crops
except in Oklahoma, where it has de-
Perforated, Export business was 22o,O 900
bushels here and 100000 bushels at the
seaboard. Cash prices dropped 1Ac at
the extreme. New No. yellow is be-
ing, bought for year shipment at 2ho
sc under September brought in buying
Of the latter and selling of September
by the leading interest. Arrivals were
229 cars.
Oats lacked buying support after the
opening bulge of nc and broke 12c. maxi
ing an easy close Probably scarcity OF
supplies appears to have no terror TO
is selling freely, although the movement
is lighter than last weeks and arrivals
here for the day were $50 cars. Cash
lots were l14c lower and shipping sales
1000 bushels Buying of rye was by
the seabeard and by local traders. Prices
sagged and closed lower.
Pit Notes.
The action of the grain markets today
shows that it is one thing to get all the
conditions except one in favor of a bulge
and tho one lacking to be the most i'm
portant and upset all the rest. Highest
prices were made at the last and the