Omaha daily bee., 1921-04-06
Chicago Grain
BY CHARLES D. MICHAELS.
Chicago Tribune Omaha Bee Leased wire.

Chicago, April S.-Advances in all
grains during the early trading were
due mainly to shorts covering and
to buying on the belief that an up
turn was due. A great deal OF buy
ing was OIL around the top on all
grains, but it soon gave out and then
prices declined rapidly. The close
was about the lowest OF the day with
net losses OF 2 to 4c on wheat, with
July leading, unchanged to, shade
easisr on corn, IL to lac lower to
l-Sc higher on oats, IA to &c lower
on rye and unchanged for barley.
Buying of wheat and the advance of &c
to exc with July leading early, was based
on less able reports from the south
west and west and from Montana. There
was nothing else IN the days news TO en-
courage brying. yet the big shorts covered
and many went long only to sell later.
Export business was light and although
20, 900 barrels flour were sold at the sea
board late Monday there was no export
BUSINESS in wheat reported until after the
close when the late break caught resting
orders from Germany and 500, 900 bushels
were sold fer export.
Corn Has Bulge.
Corn had a good bulge. mainly on cover
sold up to sic or ga over the recent low
point and was off to SOS. later, the fin
ish being at 59%c to 59hc. Buying of
May and selling Of July at 3Ac difference,
was teature of the trading Good buy
ing was on early by leading interests
which apparently came out later. The sit
uation IN the whole has not changed. Ar
rivals were 50 cars with cash trade low
Cash prices were / Nc higher early. which
disappeared later.
Heavy covering by a large local operator
combined with the advance in other grains
helped oats to advance. 1c to $500, cr!y
to drop to SIC and finish at nearly the
inside. Local operators were the best
sellers on the advance Cash prices were
1hc higher at their best with reaction
with futures at the last, Shipping sales
were 10000 bushels; exporters were after
oats at Winnipeg, but no business was on
here. Arrivals here were 43 cars. Seeding
Is progressing in the central west.
Local traders sold rye freely and prices
declined after a bulge of 1&c, with the
close at The inside, July leading.
No rye trading.
Pit Notes.
Reports of good rains over the south
west and the favorable report from Le-
counton, Kan, led to the late selling
and decline with number of the Dig
houses free sellers. Prices declined from
at si.SsA to sl.S6h. July. after selling
up to $117 dropped to the lowest of the
season and under the previous to s1.10a
with the close on a range of $t10% to
$111h. Fair business developed on the
break and some of the traders who COW
cred May resold for July which was
25ss discount at the close. .
Rains are predicted for a good part OF
the west. southwest and for the north
west which will benefit the crops. The
has increased and exceeds last
years while export clearances of wheat
and flour were $4,000 bushels;
Export sales of around 100000 bushels
wheat and 100000 bushels corn were re-
ported at the seaboard. There was some
new wheat sold for July shipment from
ST. Louis to New Orleans at $3.50 which
figured out around 1c over July. track
here. The export business in wheat was
the result of resting orders from Germany
being caught.
Domestic shipping sales of cash grain
at Chicago were 10000 bushels wheat.
IS, 900 bushels corn, 1900 bushels of oats
Premiums on hard winter wheat at
were 1c higher and red at &c
higher. No. hard sold at 11Q1Sc and
No. red at 7@e,Ac over May. Re-
ceipts, 10 cars. st. Louis was csc and
Kansas City, 112c higher, trading being
practically over before futures weaken
ed Omaha was &c higher to &c lower
Premiums at Minneapolis were unchanged
with outside mills buying light weight
grain.