Omaha daily bee., 1922-06-10
It, Financial and Industrial News of the Day
Chicago Grain
By CHARLES d. MIcHAELS.
OwahA Bss Lsas<d Wire.

Chicago. June 9.-Whiie the trade
construed the government repor, IS
sued after the close today as bearish
and sold wheat and oats freely, early
wheat reversed its action later and
advanced 2,ta5b4c from the inside
figures and closed s@Be higher
with July leading. Corn showed in.
dependent strength and gained lac
2Hc. the latter on December. Oats
broke after being higher early and
closed Ji@Hc lower, while rye was
off hGhc.
Local pressure and stop loss sell.
ing carried wheat of iI@lMc a,
the opening. but excellent buying by
commission houses made its appear
ance. which the pit element attrib'
uted as for the same interest as has
been active on the buying side for
several diys. The surplus was taken
of the market and shorts started to
cover and found offerings light until
July got TO around $l-l6, at which
figure commission hovses sold freely
and q reaction came 1t the last.
Export Demand Slow.
There was some selling OF September
by . cash house against new crop WIN
tsrs sold BY exporters st &c under a
the cash or crop news 10 cause any en-
thuslastic buying and further rains were
reported where they Will DO considefhplo
good with tho forecast for showers over
the northern part part Of ,hn,.S me ps''i lat. mes. mes.
ssses from the seaboard claimed foreign
ere were asking for offers. Receipts. IL
carr. ,,.,,ou
~as taken BY local professionals. sum
mary Of the corn market by j. J. Grif-
lin OF j. 8. Bschs 4 Co. was mainly re-
sponsibis for Q change In sentiment "
that grain. Locals bought freely ana
found ofssrins. l!ss, prices ,ss a. nrsy,eS. sns ea
day, with December leading. Profit taxing
checked the bulge Country ofterihss
were small but cash houses refused 70
follow the advance and the basis IN ,ne
psred with July. Shipping demand slow
Oats showed independent weakness. the
soyernutent report being the main rae
tor. and prices at the ins'cs eauaIs atn,.h the the
iowest 80 far. Trade was mainly ioea.
cash demand moderate with ssles OF 10
400 bushels, including $4,000 bushels 70
exporters. Rains were reported whe'e
"esSvS nv" .vsrsssd lower with locals on the
..iiirs side on account Of the excellent
crop outlook. Export and shipping 1e.
msnd slow with northwest Sood sehe'
Of 'u''''' Pit Notes. .
wheat traders are mainly bearisn' out
Nat making any headway as prices haNe
moved up to 4hc Of late. due 70 coveIi.o 3
bv the local and outside sports ana 70
buying to remove hedges Inor,sI. Sxi"rs The inn i'm.
nrsssion among most operators Is tnas
tha abort interest has been reduced anu
soms Of the operators have taken tne
long side. But values are eNpeeeerJ for Juiy
hold between Iis Via ana sSsrn 'the dip, am and raj
"ev W,rn,ner December wheat is s1.l5, or
aLc under October. 1t costs 10 cents per
bushel to carry It until tnat that, oA'e there. ere
chicago house, : :dvoraiie soSsi to oI Suyins at 81
PC Corn has been oversold and a good part
AZ the buying today was covering III, H :
mission houses also had more guy ~. ,
nrders and there was more snap 10 s .ns
Suvine than of late. Cash houses SOU
,oodsr.tely ON the advance and the coun
try aold 10000 bushels or more 10 af'i,v, ,r
Tha market has been nearly eyeneu ~, w
and Is in . position n,ovarspis 20 prspH" CROP re-
popts popr.N For the past few days cash ous'-
heSs p.oS;.;on men reported a better domes-
t,c ana export trade. ENGLAND ,s.l took mans ns
w IA .orns lard and dry salted bellies ano
nicn,cS are also moving better. .,r,h
Joe wade Of Memphis says ny. v.ar .mu Ssv.
~. nlsced the bulk Of its acreage "
cotton. Last year it was the reverse enaeI anI
thew lost money. Cotton has advanced
| ~ lafa and corn decllnoQ.
r.;n Eastern central South Dakota ana
nv mart Of the northwest spring country
has had rains the past two days oeheh'-
ing the crops. ..----- -