Omaha daily bee., 1922-05-07
Chicago Grain
By CHARLES d. MIcHAELS.
0~aha R>a IsaHxL MIR.

n
Chicago, May o.-Liquidation in
May wheat by scattered longs and
commission houses carried prices off
sharply to q new low on the present
down turn. The break affected the
deferred deliveries OF wheat and also
other grains. making lower range,
| Wheat closed with net losses OF i-s
| az 7.se. Corn closed S-s@ie down.
oats. J-Sc. and rye. S-s@i s-Se.
May wheat had a range Of nearly
Toe Tor the week. While strong early
II closed well toward the low point.
with hedging OF cash grain factor.
Favorable crop reports had some ef-
fec, on the deferred deliveries and at
the last net losses were l-s45c.
Corn and oats held within relatively
narrow limits. While averaging
higher, they closed well toward tho
low point. corn unchanged to lie
lower and oats S.se higher to i-2c
lower. Rye was le lower to s-sc
higher. A broader demand for pro-
visions lifted prices sharply and lard
gained 40@s0c and short ribs GOA
II l-2e for the week.
shssts Hunt Cover.
Short covering was In evidence IN wheat
early today. but when pressure appeared.
prees started 10 drop father sharply. The
local element was generally bsarish. While
condition In the July and September,
there was nothing In tho news 10 cause
the shorts much uneasinssa Tho greater
par, Of tn. buying came. from traders
- an AlaR (ssr A.
Tho fact that Mondays market arithme-
tic promises 90 be buliish failed to attract
much attention nor did the advance In
i,,Vsrs'lns ,V,s rsssh ssshsss. to : new hirh since
ssport demand for new crop winters.
Further purchases OF old hard winter were
made at Kansas City during the day TO
70 chicago. Crop reports continue
Rather free selling was on In corn by
scattered longs who feared that country
;.. Increase % n. "1S'a rssS, 'eew os ..e.lIsn; n
weather conditiolns, which permit field
wtrk 70 MAKE rapid progress There was
some buying houses with seaboard con-
nectione but the outside buying was lack
lnr and sentiment on the whole was less
bullish than OF late.
Oats showed resistance TO pressure early.
eus ss'ed on later In sympathy with other
under. under the July. Shipping demand was
.nye was affected by the weakness in
wheat and averaged lower. A local house
bought zoo. .ooe bushels to come here from
missouri river market.
Pit Notes.
10 said that every busheI of wheat
lost on tho lowlRnds by floods will be
more than regalned by three to five
oushels on highlands.
"a Kansas City message OF Thomson 4
mated 10000 TO 100000 bushels wheat
would be shipped to Chicago from there
before the end OF the month
An OFFER to RESELL 10000 bushels new
crop winters was received by y New York
handler today. but the grain was offered
&c per bushcl above the figure at which
fresh business had been done over night
Tor september shipment
Worlds exports of wheat for the week
are estimated at $500, 900 bushels. COM
psred with i1.20o.o 900 bushels the previous
week. Australia shipped 2,s64,00 BUSH
els for the week. against 3,216,000 tush-
e!s the previous week. Out OF the total
visible OF $4,000. 900 bushels in that coun-
try. Il 10 estimated that $4,000, 900 hush
els is available for export Clearances
since January have been 56. 00o, 900 BUSH
eh. suggesting a total surplus for the
season OF 80,00o.000 bushels.
SStYYNA ~ AZ ~NVNy-