The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-07-01
Chicago Grain
By CHARLES d. MIcHAELS.
Omaha Zee Ieussd Wirs.

l
Chicago, June 50.-Hesvy liquida'
ton was on III July wheat and corn
and oats were sold by scattered
longs. While prices were higher
early. the close was easy. with
wheat l!e lower 10 &c higher, corn
i4mI3c lower, oats HGAt lower
and rye M5sc lower.
There were black rust reports from
the northwest. bullish private crop
estimates and buying Of July at Min
ncapolis by elevator interests.
Liverpool surprised the trade by
closing l@lf!d higher, with better
cash demand Buying gave out on
the bulge and, with considerable
evening up on the part Of traders who
were going away on account OF the
holidays, the close was easy.
A liberal trade was on through
commission houses by interests that
were bringing down outstanding
commitments to the market. Export
business failed TO develop, despite the
strength abroad. and the bulge
brought out liberal sales to arrive
from the country, with purchases OF
$4,000 bushels. Cash demand was
fair. with sales OF $4,000 bushels here
TO the seaboard. An average rcduc-
ton OF 42.000,000 bushels in the es-
timatcd winter wheat crop was some.
what larger than expected, but had
only moderate effect.
Longs Lquidate.
Longs in July corn and oats liaudated
freely, while elevator interests were per-
sistent buyers OF July and sellers OF Sep.
TENDER. There also was great deal OF
buying and selling on the various deliv-
cries to bring open trades down to the
market. The buying OF July corn was per.
sistent. but at the last II went TO almost
&c under the September. the widest spread
on the crop. Rains fell over parts OF Hi
nois. Iowa and Nebraska and served TO
temper bollsh entbus.asm Private crop
reports were construed as rather bullish on
both gratis. but had no permanent erect
on values Receipts 3Gs corn and 10? cars
oats.
Liverpool corn closed Sd higher on con-
tinued wet weather In Argentina.
Consid cradle selling Of July and buying
Of September rye at lie difference was I'M
der way and the reverse today and consti-
tuted the bulk of the trading, The north
west was a fair seller and the close was
about the bottom.
III NOteA.
Heavy reductions in the estimated yield OF
winter wheat and oats was suggested by the
Goodman Snow reports. given to the trade
today. Average loss OF winter wheat dur
ing tho month of June was 42.O00.0o0
bushels, and oats. 100000 ousheis.
Spring wheat increased 100000 bushels
Corn acreage decreased around ! per
cent or about 100000 acres mainly IN
the cotton belt states. Condition OF corn
was given as $50 to $50 compared with
$50 last year. Oats condition. H6 10
1855. against S5.5 In June. while winter
wheat condition is 1873 to 1873 against
SIS month ago. Spring wheat condi-
ton. s6.6 to s76. compared with so.7
in June Goodman estimated farmers re-
serves at 81 .o80, 900 bushels wheat against
s.. 900, 900 last year.
Indications are for wheat crop. OF
81, 900. 900 bushels in Oklahoma, according
to reports to the Modern Miller. Ne
braska prospect has been lowered by re-
cent hot weather. Kansas will have a
large crop.
Deliveries in June contracts at chicago
were: Wheat, 1.76+.00 bushels: corn Z3o.-
900 bushels; oats, 2Os. 900 bushels. and rye.
81. 900 bushels. Shipping sales lot tne
month as compiled by the Raymonds
news bureau were: Wheat. 5,o27 900 bush
els; corn, 4,632. 900 bushels: oats. $780,
900 bushels; rye, SIS, 900 bushels.
Export business in wheat at tho sea
board today was between 5000 bushels |
and 400, 900 bushels. Chicago sold 49,
900 bushels wheat. mostly for export. WIN
Houses with Omaha connections were |
rood sellers Of oats. Their crop reports
are generally good, winter wheat being |
estimated at b0,000.000 bushels or S.ooo.ooo
bushels under that Of three weeks ago.
due to hot weather.