Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1922-01-27
Chicago Grain
BY CHARLES ID. MIcHAELs.
A L..

Aliieasut jan @os-Nl neat prices
are iluetuating rapidly without get
ting lar in either direction. Iiis
average Tor the day was lower, al
the inside showing asa &c under the
finish OF the previous day. Toward
the last evening up on the part oi
local element made a rally. Ths
close was sc lower on May and sc
higher on the July. Removal OF
hedges failed TO help the corn mar
ket and that grain and oats closed
sc lower. while rye was of sc.
Foreign markets came lower at
the start aud the trade was in a
mood where bearish Developments
more than offset those OF strength
ening character. A reduction OF
30,000000 bushels in the crop Of the
three Canadian northwestern prov
inces, as compared with the prclimi-
nary estimates, failed TO bring IN any
buying of consequence. The UNDER
tone was distinctly easy.
II was not until near the close
that the price got above the preyi-
Gus DAYS finish. The market was
dell until about noon, holding within
a range OF about Ilc. Northwestern
mills took little May early, pre-
sumably removing hedges against
-four sales. Export and milling de-
mand was slew. While at ST. Louis
they were la2c higher, premiums
at Minneapolis were unchanged to
Sc lower.
Shorts Hunt Cover.
A good part OF tho pressure on the
market came from disguised longs, while
the market wax in the way OF short cover
Ing. ..s 4
bushels cash corn sold for export, includ-
ing grits for Russian relief, failed TO help
the market for futures.
The undertone was rather easy with
the close at the bottom. Cash houses
were on both sides representing % great
extent cash transactions. The local ele-
ment did little For the time 1t was dis
posed to operate with great caution.
Country offerings were fair. Domestic
demand was slow. sales $4,000 bushels.
The seaboard reported 500. 900 bushels sold
abroad Argentine cables were mixed,
with reports OF locusts doing some dam
age in the province OF Cordoba, ard late
messages indicated that rain would be
welcome over the entire belt.
Foreign demand for oats was again In
evidence. with sales OF 20. 900 bushels at
the seaboard and inquiries for 100000
bushels more. but with corn early and SELL
ing by some OF the buyers sof last week
prices decline readily Domestic ship
ping sales were 1870 bushels with re-
ceipts So cars.
A broader export interest was noted IN
rye. but there were no bids of conse-
quence received in the west and the bulk
OF the trade in futures was OF a local
character.
Pit Notes.
Some export business in flour was re-
ported at the seaboard. There was some
demand to fill a vesSel sailing with
part cargo of rye.
Minneapolis reported fancy whea. scarce
and unchanged. Ordinary and poor quality
wheat was lose lower.
New York wired: at is understood that
boat is loading at Baltimore with rye,
grain and flour for Riga, and has nothing
to do with the relief, administration"
4 Edward McKenna wired Mckenna-
Oiekey from New York that he found tho
export demand for cotton fair, with little
business in wheat for export while tho
do nestle trade in all grains was extremely
quiet
Thomson MeKinnon said of wheat: "on
February l, the average total visible sup
ply for 10 years has been 63,000,000
40. 900, 900 bushels. with farm stocks ex-
tremely small. The average decrease
from February to July is $4,000, 600
bushels II the law of averages is opera
tive and IL our visible is as small as esti-
mated then there is opportunity for an
acute situation to develop between now
and new crop"
Cash wheat premiums at Winnipeg were
unchanged to little higher, with fai-
demand and light offerings.
The Canadian wheat crop is now esti-
mated at sol 100000 bushels, against
32s 900, 900 bushels the provisional estt-
mate in November and crop last year
OF $50, 0000 900 bushels.
London Money.
London, Jan. 26.-Silver-Bar, SD per
ounce.
Money--SL per cent.
Discount Rates-Short and three-month
bills, 11-16 pes cent.
Bar Silver.
New York, Jan. 26.-Foreign Bar Sill