The Washington herald., 1921-04-08
GRAIN TRADERS
DISPLAYCAUTION
Leaders Slow Up Activities
During Present Downward
Price Trend.


j CHICAGO. April Y7.-Grain prices
have reached a point on their down
werd course, where there is a dis
position on the Isrt Of the t.ade
leaders to 60 slower at present. The
trade Is interested more in wheat
than in the coarse grainS as there
is uncertainty regarding the grow
ing crop. and uncertainty tends to
keep the traders more active in
studying the conditions. Outside.
business is light and between the
crop prospects. and the export busi-
ness. there Is enough to make an in
teresting situation. A fair break
was on in wheat early with a good
bulge and a close with May wheat
&c. and July 1c higher. while corn
was &c to &c higher, oats up &c
to nc, rye unchanged to kc, and
barley &c higher. ,...
In the provision trade there was
weakness and lower prices with a
drop to new low levels and a close
considerably lower.
The main thing in the wheat mar
ket was the government crop report
for April. which came at IL o'clock.
1t showed a condition about as ex-
pected and a smaller yield than
looked for. being about the same as
indicated by the Snow report. 1t
started buying and made an advance
OF 1c which was lost later and then
regained. Crop reports from experts
in. the southwest were good and
with gains the past few days condi-
tions have improved. IE Nebraska
and. the northwest very low tenn
peratures existed. but had no ef-
1t will delay spring seeding a few
days but there is plenty of time for
putting In a good acreage.
One factor that stood out was the
lighter export buying and q reduc-
tion of 1c in export bids at the Gulf.
In all. 100000 bushels were sold to
Germany and Italy. with a litt;.
Manitobas to England. The aggre-
gate business, however. was not
known. until after the close. Ne
braska reports said the wheat had
been well cleaned up in that State.
while there is said to be large sup
plies back in Kansas. TIE movement
st primary markets is liberal. Bx-
port clearances were 1880 bushels.
wheat and flour.
Local traders covered freely while
the selling on the whole was lighter.
May came out in volume on all hard
spots and there was selling Of May
and buying Of July. at 23c differ
ence. the narrowest in several days.
Export business in corn was
on at the seaboard with un-
confirmed claims Of 100000 bush
els and 10000 bushels con-
firmed. Cash prices were 1c
higher with shipping sales of $4,000
bushels. Receipts continue light. hut
exceed last years. while shipments
lative1y there was little IN the trad
ing operations. The houses who were
free sellers . few days ago were ac-
tive buyers.
A large Part Of the operations in
oats were changing from May to
July and from May to September.
Many of the largest operators have
eyened up. regarding prices as too
low. but the smaller operators ere
selling on bulges and covering on
weak spots. May finished at 37Sc
and September at 4oc. Carh lots were
NC to NC higher. with shipping
sales 10000 bushels, and premiums
on No. . white stronger. at 1Kc to
2cs over May. Arrivals were - cars.
Business in rye was small and
largely in spreading between May
and July. the former being bought
and the latter sold, at 25is to 2sc
difference. Export business has been
so heavy Of late that a lull was on.