Omaha daily bee., 1922-05-30

By CHARLES d. MicHAELS.
omsh. tss, I.s,<a Nit.

s,asahs hss t>sssa Niss,
Chicago. May 9,-LiquldalioH
Was on in all grains after . iaiE show
ing OF strength early today. May
wheat collapse and broke 10 lac
from the high figure es the morn
ing, and closed al the bottom with a
net loss OF lle, while July was oil
se and September lac. Corn and
oats weakened in sympathy with
wheat and corn closed 7.sGi J-se
and oats l-sa l-le lower. while rye
was off 2 i-sd5 i=se with May &c
under the July.
May. June and July whea, were
selling al practically the same figure
al the last. and Nav aud July coming
together for the first time on the
crop. There was heavy buying OF
May and selling Of July by cash and
elevator interests al ie over TO even
Tor the July which checked the break
IN the May. An early bulge was due
10 shor, covering but trade was large.
Ordinary market influences counted
for little. and a fair decrease in the
visible supply was ignored.
shorts Hunt Cover.
iaeai broker Was . free seller ~
july On an early advance, which msfe than
satisfied the demand from shafts, who
a liberal sized loan. Numerous stop loss
orders were caught On the way down aud
support Was limited, the most effective
buying being By shorts, Expert dsma nd
vas fair and milling call showed improve
fNfut hEff FhI. a than affsFf hg
the excellent character OF the crop re-
ports from the southwest,
Cash eafn ana oats showed more weak
ness than did tho futures, corn being Oft
= Nc and oats h,c ss compared with
July, Local sentiment was generally bear.
ish. and with wheat weak and the stop
loss orders caught. tho decline Vas easily
s,,alnsd, substantial reduction In the
visible supply Of both grains was ignored
as market Influence and the close was
at practically tho bottom, Receipts
showed a fair increase. while the shipping
demand va. only fai,. Weather eondi:
for the growth Of the new crops. Re-
e.ip's. Iss ears corn snd .ss cars oats.
A lack of demand for May rye carried
that delivery off to &c under the July at
d.nes. Foreign demand was reported as
slow.
Tit Notes.
All grain exchanges In the United States
VIII be closed tomorrow Decoration day.
Winnipeg and foreign markets will be open
~ usual.
Liquidation has been drastic and gem
ersl in May holdings OF all grains, espe-
cialy OF wheat. and expectations are that
there IL more TO como on Wednesday. The
trade 10 looking for lower prices after
the Decoration day holiday in the winding
UP Of May trades. The trade will not he
surprised should there be a bulge at the
last in case the short interest 10 larger
than generally counted on. but the action
Of the market Monday leads to the belief
that shorts will have no trouble In getting
In.
May wheat at the inside. si.1sS, was
the lowest in months. showing a break OF
2sAc from the high OF two weeks ago.
one time May. June and July wheat sold
at the same price. A furor OF trading in
May and July was the heavy selling at
tributed by local traders to interests who
have been long. the July being particularly
large. and was put down to q half dozen
OF the largest commission houses who re-
Gently were leading buyers.
An increased run OF corn In expected
the first part Of June. Arrivals today
were 759 cars
Deliveries Of wheat on May contracts at
Chicago for the month so far aggregate
l1.77i.0o bushels. Minneapolis reported
fair deliveries Of wheat today and Win
nipeg had small deliveries Of all grains.
Railroads operating in the southwest
have commenced to store cars In that sec
tion to take care Of the first rush OF the
movement Of new crop grain. Harvesting
Is expected to commence In the more ad-
vanced sections OF Kansas within two
weeks with favorable weather.