Omaha daily bee., 1922-04-19
Chicago Grain
By CHARLES d. MfcHAELS.
OAakA 6~S I~HsrA ~ Us


Chicago. April ls, - The wheat
market huetusted in an effatie man,
ner within a range OF > l-tMs lie
Ai.rf advancing sharply from an
early decline il broke badly toward
the last II closed | 5-saee lower
with May leading. Corn followed
wheat. With oats. corn closed | Sc
lower, while rye was off ! lisa
Ti-ae.
While an advance of I'd in Liver.
pool was disappointing TO the traders
and opening prices here were s-sM
] lie lower in consequence. Il was
quite evident that there was no ma
tefiai pressure on the market.
Houses with eastern connections we're
good buyers, May after selling al isst.
AZ the start. advanced 20 iu, within fe
long grain came ou, frssiy on IL.
bulge, The trade was no, laFss enough
20 absorb u. Many 81 the pit element
went long on tho bulge, Toward the
las, there Was general selling with some
stop loss arisfs caught on the way
down, Heavy buying by strong commits.
sion houses absorbed the offerings a,
ias. but the finish was heavy
Iecsis Get Out.
The local element shows mafs dispasi.
iion 90 get out Of the MAY and into the
deferred deliveries, In tho main. the
early on unfayorabls crop rspor,s from
western Texas, Nebraska and Oklahoma.
,hs ether futures eassd Oft easily and
closed within a fraction OF the bottom
Weakness in cash markets at Minneapolis
and NJ. Louis had some effect on the
May. Purchases OF 10000 bushels wheat
were made to come here from Missouri
river markets, mainly Kansas City.
big expert business was put through a.
Ihs result Of tho break.
Coarse grain showed early strength. bot
there was general sellin. later which
wheat broke and tho close was heavy.
There w~r~ frequent stop loss orders IN
ne n. May corn and ss,. o,,a No change 10
shipping demand continued to be very
slow. Seeding Of oats has commenced
In some parts OF Illinois and Iowa. Re-
eeipts were II corn and IS cars oats.
good buyers OF rye and some export busi.
ness was put through. The northwest was
a moderate seller. Sales OF 10000 bushels
were made to so TO store.
Fit Notes.
Because OF too isrge an amount OF heat
damaged grain. i67 cars Of hard winter
wheat received at Chicago from Kansas
number three. The general quality Of the
grain was very good with the weight rang
Ing from IS to Sex pounds = bushei. but
majority OF the cars had three -tenths
to one-half OF one per cent OF heat dam
AGED grain. while tho rules permit only
two-tcnths OF one per cent. The grain Ia
going straight through 10 wasburn- Cros-
by company at Buffalo and will leave via
boat the latter part OF the week for that
port.
Private cables from abroad show fur
ther' unsatisfactory reports regarding the
condition Of the new wheat crop In Eu-
rope.
Winnipeg cash premiums were &c lower
on cash wheat today. Reports from there
said farmers were offering wheat more
freely. owing to the advance. The embargo
recently placed by the Canadian national
railroads on shipments to Fort william
and Port Arthur was lifted today and II
Is expected that lake navigation will open
tomorrow. This will enable shipment Of
the $4,000. 900 bushels wheat held there
to eastern ports and create storage room
for the large number OF cars Of grain
held on track.
Wheat in Kansas has grown six inches
the last three weeks, says Roland Nc
Henry. a Chicago cash grain handler, who
IL back from the Pacific coast. He saw
the greater part OF the Kansas crop along
the Santa Fe road and said 1t looked like
garden.