Omaha daily bee., 1922-05-20
Chicago Grain
BY CHARLES D. MIcHAELs.
Oaaha Rss lAsSsJ Wtss.

Oases Ne lAessd Wire.
Chicago. May 70. - Scattered
liquidation aud bear pressure com.
bined 10 make lower range oi
wheat prices. The finish was at
net losses Of ! l.s4l Use. Corn
was l-s@5-se lower and rye j-s@
] J.se lower. May oats acted tight
and gained i-2e on limited trading,
with deferred futures off l.sai-te,
Whea, prices held well in the
early trading. The market was ca
iremely dull until toward the close.
then heavy selling OF July induced
general selling and a sharp decline.
Scattered longs were free sellers
OF May. The support came mainly
from recent sellers and from q local
elevator interest that was credited
with selling May at Minneapolis and
Winnipeg. apparently undoing q lib
eral sized spread. Sentiment gener-
ally was bearish. There was little
in the news TO cause much bullish
enthusiasm. The milling aud ex-
port demand is slow. The character
OF the crop reports showed no ma
,erial change. The Kansas state re-
port estimated the crop at 100, 600. 900
bushels, agains, l2s.000.000 bushels
last year. Liverpool closed l-4@lc
lower. ..
Corn Averages Higher.
Corn showed stubborn resistance TO pres
sure. II averaged higher early, but
r price. held within . range Of IS. They
wheat. Wet weather prevailed over part
OF the belt and planting 10 delayed. Only
90 per cent OF ths work In Kansas has
been rompisied. There WAS talk OF e.
we're reported here and tho domestic cali
Was slow. Receipts. 10 cars.
Ths trade looks for larger arrivals ns1t
,.s Only ens trade was made IN May oats.
which closed at 57Mc bid. Deferred de.
livsries wero affected by the action OF
other grains and finished easy despite talk
OF sales TO exporters from here and from
outside markets. After the close sS.-
W.a, NJ %asn.s were reported sold to the east.
The sesboard was a moderate buyer Of
rye futures. but there was sufficient SELL
Ing ny the northwest and local traders
combined with the weakness In wheat te
MAKO q lower level easily attained.
Pit Notes.
elevator interests ana
farmers In the west and central west are
sc'nnx their wheat. One Omaha hous.
pousht $4,000 bushels in the country to-
uay. consignment notices here are In
crnsing. a local horse bought f6o. 600
rusneis IN the west and central west, St
Louis Is said to be shipping wheat this
way; IL was reported that Winnipeg n
10 snip No . wheat tc Chicago.
me bulk OF tho 49, 900 bushels cash
whsst delivered on May trade today went
70 harris g. Winthrop. who have been tak-
ing wheat In for the last week.
open interest in May oats is .aid IN h.
small. as not more than i)O. 900 hu.heI.
were traded In today and all at 37Ic. ths
ch!y price OF the day. Buying 81 Sen
semoer anc selling OF July at lBc ar
ference was feature Of the trading
local operator observes that I, vii,
not % well for the trnde to get too hear.
isn as Washington is watching the action
OF thr grain markets and Senator Ga nner
hna h the AGRICULTURAL bloc are preparine
ouis 10 take tho place Of tho one knocLaS
OUT ty tho supreme court,
world exports Of wheat for tbs ~..L
are estimated at around 10000. 900 hush
es. compared with I0,63s, 900 bushs,s ~.
previous week. and 2.e03, 900 bushels ,s.,
year. Supplies on ocean passage az. .s
peeted peshs', 70 decrease 100000 to 5000, 900
charters have been confrmsa Co.
.o" 1,svv'ooo bushels wheat on the Pacific