Omaha daily bee., 1921-06-18
Chicago Grain
By CHARLES D. MICHAELS.

| chicago. June Nv neat closed
with gains of 3G3 SAC. the July
showing more strength. The later
trading was mostly local, with east
ern houses selling September on the
bulges. Export business was at a
standstill and consisted of swapping
positions on old trades. Corn closed
strong with prices 21-2@2 5-Sc
higher and oats were l-4@l $50
higher Rye finished 3@3 SAC
higher and no comparison was pos
sible on barley. Pork and lard
closed unchanged and ribs l-2c up.
Cash wheat premiums were unchans-
cd but firm and they were lc higher
at the Gulf for July shipment Cash
orn and oats basic, was unchanged.
Local cash sales we're 1000 bushels
of wheat, $4,000 bushels Of corn,
25o, 900 bushels of oats, rostly via
lake, and 1000 bushels of barley. The
demand for corn has dropped off and
the only orders are from Montreal,
but scarcity of vessel room makes
this business unattainable. A local
shipper said it was possible to secure
&c bushel more for cash corn to
deliver it on July contracts and de-
liver it Is days hence than to accept
bids from exporters or domest!e con-
saners. Board OF Trade membership
sold UP to $40 net to the buyer
late.
Wheat Prices Bulge.
Wheat prices bulged sharply at the
start, but during the later trading prices
kept within the range established during
tho opening of trading. Most of the local
trade oversold themselves late yesterday
and they were forced to cover at the
start, when buying by some bull leaders
disclosed lack of offerings. Selling
against indemnities relieved the situation
and caused a reaction, but bulges and re- |
actions featured the later trading. Local !
sentiment appeared to be bearish and 1t
was the short selling by the pit traders |
which caused the repeated bulges. the
oversold condition falling to be relieved
by the early covering movement.
The bulge in corn was big surprise t6 |
many in the trade. Houses with export |
connections were big buyers and forced
many overnight shorts to cover The
corn quietly the last few days and offer |
ings in the pit were light, the only pres
sure being against indemnities on the up
turn. The weather is ideal and 1t is fore
port demand is Indifferent and one broker
diagnosed the situation as follows:
Looking for Bargains.
Exporters are looking for bargains and
local shippers are not disposed to offer
any," 1t is reported that there is 2,000,-
awaiting disposition. Local receipts were
of fairly heavy volume, the estimate to-
day being for 400 cars. Liverpool spot
corn closed I'd higher and futures 1ad
higher. Antwerp closed / franc lower.
Oats were influenced to a good extent
by the action of wheat, although the hot
wave over the belt did much in advanc-
ing prices sharply at the immediate out
set. While numerous reports of the ap-
pearance of rust were received, no APP
parent damage as yet has been noted,
but, nevertheless. it made shorts uncom-
Portable and they were anxious to even up
their commitments. Buying was gem
eral, with investment purchases being
made on a fair-sized scale. Offerings
were limited early, but on the bulge
profit-taking became heavy and good
reaction resulted. Receipts were freer, but
not large, the estimate calling for 105
cars. Local shippers reported curtailment
in the domestic demand over night For
eign markets held unchanged.
Rye was easy No. cash sold at
s124 and No. 4 at s1.21%.
Barley ruled unchanged. Mailing sold
at 64@6Sc. Shipping sales were 1000
bushels.
.-.-.. PtNOtes.
r. o. Cromwell of Wagner & Co. reports
.'On inspection I find black stem rust
in wheat is merely orange leaf rust In
the red and black stage Found only a
some fields thought to be heavily in
tested Stem rust is not early this year
Last year it was reported as far north
as Winnipeg on June 12."
Memphis wired Shaffer-st Stream:
"Missouri shippers are offering me No
2 red wheat at ,s1.s1 delivery New Or
leans next week"
Kansas City wires Thompson McKinnon:
Marketing of new wheat in southwest
Is expected to be heavy If present prices
are obtainable; The farmer must must pay pa, MS ais
per cent of the southwest crop will be
by September l."
Condition in Nebraska.
Thompson wired Bennett from Tyndall'
9. D.:
I<a, north through Pierce and Knox coun-
ties is not a wheat country; the few
fields winter wheat above the average
s. D., northwest to Tyndall in
stand; plant we'll stooled. and has healthy
color. Red rust present around Tyndall,
source. Scattered showers and hot weather
likely to cause further damage by rust.
No black rust in this. section"
Board of trade memberships have taken
an upward turn since the defeat Of the
legislation at Springfield I
Two sold yesterday at 1875 and $4,000
net to the buyer. There are few new
offered at present.
Thompson McKnnon sold July and
bought September wheat. Rosenbaum .
bought September wheat Wagner was :
a good seller of both July and September
wheat.
Griffin Given Roses.
Prest J. p Griffin was given rousnf
by members of the board
trade on the floor today. trade in tho
pit being at standstill while he received
of his fellow members
upon the successful outcome of the legs-
ative battle at Springfield. He was pre-
sented with a great bunch of roses by
formed President C. Fl. Candy, who also
has been a vigorous champion of the
board the last few weeks, r. I. Mans |
field and other members who have devoted I
the greater part of their time> to the
legislative campaign were also the re-
cipients of the thanks of members for
heir work.
The G. B. vanness base ball nine de-
'eated Simmons-Day, IS to 10, in a game
1T Grant Park yesterday afternoon.
Australian shipments Of wheat to the
United Kingdom for the week were esti-
mated at over 100000 bushels
Roumanian reports were more favor
The acreage of wheat is
short of normal while Of coarse grains the
area Is about the same as in prewar years.
Rains have been highly beneficial to
wheat