Omaha daily bee., 1922-01-25
Chicago Grain
BY CHARLES ID. MICHAELS.
Omaha Hea IrAArd Mirr.

| NHitdRps JAN. CIV neat iHduc
strong start and an easy finish.
Strength in foreign cables resulted IN
general carly buying with an advance
OF ! 3-S@l lie over the previous
days finish. That bulge brought
out free selling of the July by strong
interests. The close was we'll to-
word the bottom at net losses of is
@l-4c. Buying of corn TO remove
hedge against sales TO the scaboard
made higher average. The close
was at net gains OF 1-S@l-4c. Oats
was unchanged TO l-Sc lower and rye
7-Sc lower. 49,.
The fact that Buneos Aires prices
have advanced 2 l-2@5c III the last
two days, in the face OF reports that
new crop grain was pressing for sale
on relatively low basis, combined
with the advance of Lid in Liver
pool, was regarded as significant.
Trading in Liverpool aggregated
100000 bushels during the day.
Early Buying Strong.
There was early buying OF May by
strong commission houses. The May
July difference widened to 1tc at ono
time. the greatest spread so far. There
was persistent selling Of July as factor
attributed to local interest, credited
with having been the leading recent buyer
OF May.
The greater part of the news was bull
ish. Domestic flour demand Is showing
improvement Eastern millers we're good
buyers of hard winters here taking 81
600 bushels. while one St. Louis firm
sold $4,000 bushels. Export demand bust
10, 1t,yott Cd .,1 1gha 4,
So 900 barrels of flour sold. No pnr-
chases of wheat or corn will be made for
Russian relief this week.
Drought continues in the southwest and
available stocks in North America arc
being rapidly reduced, the combined
domestic and Canadian visible showing a
decrease of 100000 bushels last week
LEGAL receipts, is cars.
A little change in sentiment was notice
able toward tho last, as the result or the
failure OF outside buying to develop.
Big Business in Corn.
A big business was under way In cash
corn with the seaboard. After the close
around 1000. 900 bushels were reported
GLIDING $4,000 bushels from Chicago.
Tho removal of hedges against this grain
more than offset the effect Of increased
country offerings to arrive Prices adj
vanced to new high on the present
movement. The reaction toward the last
was due to sympathy with other grains.
that permitted about Acc to be paid TO
producers at country loading stations in |
rnrt of Illinois. Farmers in this state AMI
Iowa sold freely. Domestic demand was
slow. with sales of $4,000 bushels. Re-
ceipts. 46S cars. Sample values showed
little change as compared with May.
While more interest is being taken in
oats and there was strong bullsh feel |
Ing in some quarters. profit taking made
a good reaction after an early advance |
and the finish was rather heavy. Export
business has been under way in domestic |
grain, with 10000 bushels sold at the |
seaboard Monday. Domestic demand,
fair, with sales OF $4,000 bushels. Re-
ceipts, IS cars.
Pit Notes.
The domestic flour business is showing
sharp improvement. according to local
mills There have been good sales today |
and the last few days for domestic ac-
count, with buyers specifying shipment
as soon as possible, indicating that stocks
arc light.
The advance to over 50 for light hogs
ard to the best average price for heavy
swine in several weeks, has done great |
deal to change sentiment i'll 1.-THE country.
corn sold off the farm. are easily able to
convert into pork and obtain 81 or better
bushel for it. This inducement is re-
sulting III heavy feeding.
Armour brokers were credited with buy
ing corn in liberal quantities In the pit,
and Armour was also good buyer Of cash
corn. Offerings of the latter were fairly
good and there was a good demand for
all the grain on sale. Shippers took mod
crate quantities. a
Sentiment in wheat was more friendly.
The firmness in Liverpool prices and the
evidence that Europe is not so hard up
but that buyers are able to pay for grain
for various exporting countries Is plain.
Buyers of wheat In the United King
dom are following a good deal the same
attitude as buyers in this country, evil
IDENTIFY being of the opinion that there Will
be nothing to prevent their keeping on
with this policy.
Europe has bought wheat in the worlds
markets in enormous quantities through
out the year and is still buying," said
of these purchases is shown in the ship.
nents of last week, amounting to 100000
bushels from Australia. 100000 bushels
from Argentina and S,S04,0 900 bushels from
North America. These shipments empha-
size more than anything else could the
fact that Europe needs immense amounts
of wheat and that it has the money Il
pay"
Frederick G. Sprague OF Fort Wayne,
Ind, whose failure had great deal 20
do with that Of Z. W Wagner g. Co.
was expelled from the Chicago Board of
Trade today. Accepting business when
insolvent was the main charge against
him.
Wheat acreage in the Punjab district OF
India is officially estimated at 10.407, 600.
against s,S27,O0O acres last year. The
northwestern provinces have $4,000 acres
against 10000 acres last year. Condi-
ton is average to good.