Omaha daily bee., 1921-09-07
Chicago Grain
BY CHARLES d. MICHAELS.
Chicago Tribune Omaha bee Leased Wire.

Chicago, Sept. o.-An increase OF
4,0Sl 900 bushels in the visible sup
ply Of wheat led TO increased selling
late in the day, and most of the big
advance established early in the
session was eliminated. Final wheat
prices were steady to lAc higher.
Corn ruled unchanged to Tc lower
and oats steady to 1sc higher. Pro-
visions were irregular.
There was a renewal OF active
buying in evidence in wheat and
prices recorded big advance. The
report that the war finance corpora
ton has virtually completed arrange
ments for advancing Sl,000,000 900
toward marketing and exporting
grain and other products, coupled
with the sharp upturn in cotton and
a cable from Argentina stating that
the crop has had poor start, owing
to unfavorable weather conditions,
furnished additional material for the
bullish element to work upon.
Prominent commission concerns in
particular were big buyers, while
the selling was in way of hedging
and realizing. A reaction occurred
in the later trading, but further sup
port was forthcoming on the break.
Receipts were estimated at $50 cars.
Corn Prices Advance
Corn advanced sharply. the strength in
wheat having effect. Commission houses
were the principal buyers and their or
ders involved increased quantities. Locals
also were on the buying side, while the
elevator concern. Receipts were heavy,
the estimate being for l.4O0 cars De-
ltvertes on September contracts amounted
to $4,000 bushels. Cash corn met with
export business was given up and very
little was done with domestic distribu-
tors.
Oats displayed a strong tone along with
the wheat market. Early. buying by
prices advanced were sharp. On the rally
scattered pressure from cash interests
In the way of hedging took the edge off
the market; but trade. as in wheat. was
better buying power. Estimated re-
ceipts were for 31O cars.
Rye was quiet for futures. but general
news did not indicate any new develop
ments. Barley was steady, with little
activity.
Pit Notes. ....
Choice oats were reported scarce at
Minneapolis and one car of No. whites
sold 10c over September out Of store
Export trade advices from New York
said foreigners were not follwing the ad-
vance in our wheat prices. while Mani
TOBIAS were relatively on a better basis
than our wheat.
Armour brokers were credited with
selling both wheat and corn, but especial
ly the latter.
Local sentiment appeared to be get
ting pretty unanimous on the bull side
Of the market in wheat again today. with
the further advance fortifying the posi-
tion OF local operators, who sold their
lines on the declines OF the last few
weeks. One Of the leading shorts was
Is less disposition apparent to fight the
advance. Canadian offerings are liberal
and some exporters are OF the opinion
that most of the business will be In
Canadian wheat for the. next few weeks
bushels for the week and there is moth
Ing to indicate a lctup in tie outflow of
wheat from the gulf and September
sales Of our~wheat for, export are lib.
and at Winnipeg were expected and had
little effect on the market. Profit taking
was Of quite liberal proportions on the
advance, but the example Of the cotton
iudEhet, WHICH mas duVduCeu Stedu1ly,
once 1t got started, has had a decidedly
bracing effect on sentiment in wheat.
Argentine private cables confirmed re-
ports that the new wheat was starting
under rather unfavorable circumstances,
due to lack of rain, drouth continuing In
some parts. Country offerings of wheat
in that country are light and holders
apparently are confident OF still higher
prices.
Reports that plans were about COM
plete for the financing of exports OF agri-
cultural products through the agency Of
the war finance corporation are counted
on to keep up export business on our
farm commodities, regardless of offer.
ings from other countries.
Heavy rains were reported in parts OF
western Canada, but no material change
In grain operations was reported.