Omaha daily bee., 1922-01-26
Chicago Grain
BY CHARLES ID. MICHAELS.
Omaha bee I~ss.J Wire.

o
ket continued to iluciua,e in most
cratic manner. Closing OF spreads
between May and July resulted in
the May turning weak and closing
&c lower. while July was J4c higher.
Corn finished sc lower, and oats
s@He lower, while rye was off
He.
There was fair early buying OF
wheat as the result OF covering in
dueed by the fact that rumors Of
local financial troubles OF the pre-
yious day were uniounded. The
strength in foreign markets also had
an effect. Liverpool was up I'd
early, but closed 1ld lower while
Buenos Aires opened &c higher and
was up 5A@4Hc from the close OF
Saturday. L..
There was a lack Of aggressive
buying OF May at times and at the
inside figure it showed lHc under
the early high and many Of the local
element took the bear side on the de-
cline. Buying by houses with east
ern connections absorbed the offer
ings and sharp rally came toward
the last
Southwest Markets Weak.
At the last the May-July difference was
f3c compared with 1sc at the extreme
Tuesday. Southwestern cash markets
were weak with st. Louis 2Q3c lower
which had some effect on the May, as
the milling demand has not followed the
recent advance. Premiums at Mime
apolis were unchanged TO lie lower. Local
shipping sales were 1000 bushels, with
receipts nine cars.
A reduction of 2.57S.OO0 bushels in the
available supply attracted little atten-
ton. Part of the advance from the in
side figure was a report that bullish
Canadian government statistical statement
would be issued shortly. Export business
was limited.
While houses with seaboard connections
were good buyers of corn futures, it failed
to help the market TO any extent and the
range Of II " &c with light outside trade,
but sentiment is somewhat less bullish
than of late.
Country Offerings Small.
Country offerings were not large with
the seaboard outbidding Chicago in the
interior and made fairly good purchases,
in addition to taking 275,0oO bushels here.
partly at 7Nc over May. track Baltimore.
for No. mixed, January shipment. Re-
ceipts 4St cars, with sample values I'M
changed to u higher No purchases were
made for Russian relief. Deliveries on
January contracts aggregated $4,000
bushels.
Oats showed an easy undertone from
the start and for time the May oats and
corn spread widened out, but narrowed up
again toward the last Southern demand
was reported better and a little export
business was put through at the seaboard.
but sentiment is less bullish, due to the
failure Of outside buying TO develop. Ship
ping sales were 600 bushels. with re-
nj nd =
ly unchanged.
Trading in rye was mainly of local
character with the action Of wheat the
dominating influence.
Pit Notes.
provisions advanced to new high
levels last week buying stimulated
by the sharp upturn in hog prices and
a good cash demand" said a provision
specialist.
timated by the Price Current Crop Re-
porter at $4,000 against 721,000 the
previous week and 905.000 a year ago.
For the season TO date, packing ag-
gregates 7,071 900 against S.221,000.
Somewhat larger receipts at the south
west markets caused some selling of
wheat here, but advices from cash In
terests do not indicate that there will
be any long continued run of wheat
Present worlds stocks of wheat ag
gregating a26,000,000 bushels compared
with 10-year average of 2s6.o00,O00
bushels Liverpool stocks are small
The brisk buying Of Argentine wheat
by European consumers is keeping the
Buenos Aires market firm, as specula-
tive demand has sprung up with the big
export trade. Russia and Germany are
understood to be dickering for consider
able quantities of Plate wheat.
Accepting the governments estimate
OF crops and carry over OF $4,000
bushels as correct. and assuming the fore
going estimate of domestic requirements
is approximately correct. the country,
after deducting exports to date had
31,000.O0O bushels left for export and 4
reserves on> January ~ said J. Il. :
Corney OF Bartlett Frazier "all Of which
lies in the territory west Of the Rocky
mountains, as we have already ex-
ported 152.000,000 bushels from east of
the mountains. out of theoretical sur
plus Of 141. 100000 bushels for export and
reserves that we had to start with at
the beginning Of the crop year"
OF the 14,s76,oO0 bushels Canadian
wheat in bond at Buffalo. 100000
bushels are owned by mills. according to
Russelrs News. About 100000 bushels
have been ordered out. reducing the
total to 10,3oo.0oo bushels remaining to
be accounted for. 1t is believed that
some of The 900 bushels has been
sold to Greece and Russia as well as
miscellaneous business for February
shipment. "