Omaha daily bee., 1922-05-17
Chicago Grain
BY CHARLES D. MIcHAELs.

""e"e wv sf~DSsS V"Na
Chicago, May i6,-Bullish enthu-
siasm was rampant In wheat. The
outside trade was larger. News
generally was in favor OF higher
prices, With a lack OF pressure.
September advanced TO a new high
Tor the season. The finish Was about
the top on all deliveries with net
gains OF 2IsM2sie. Corn and oats
were helped by the bulge in wheat;
corn gained ssMys and oats HM34e
Rye MAS up ln@l4c.
Al, 10 time were wheat prices a.
low as the finish OF the previous
day. The supreme court decision IN
the Capper.Tincher bill. combined
with an advance OF lMikad in Liver
pool served to restore confidence
among the bulls. With strong COM
mission houses on the buying side.
the surplus in the pit readily was
absorbed. There was some selling
OF May and buying OF the deferred
futures attributed 10 foreign account.
and also buying that was regarded
as against export sales. The latter
reached a large aggregate. exceeding
100000 bushels old and new crop
grain.
Less favorable crop reports were re-.
eely.d from Kansas. They attracted
somo attention. Recently the bulk ~ tho
messages from thers has been highly
cash wheat were made TO come hsrs from
outside points. St Louis IL 10 ship 2oo.-
900 bushels red winter Milling demand
shows Improvement with dark hard at
Kansas city selling at tho best figures
Hedging on Corn.
Hedging against purchases of more
than 100000 bushels corn to arrive from
Iowa checked the sdvnne. In corn. while
tho local element largely caused tho
strength In wheat, the outside figures wer.
not maintained, The undertone was
relatively heavy. Cash interests bought
Nav and sold July. ana commission houses
sold July and bought September. Ship
ping demand was fair ana sales OF 49,
900 bushels. including ss 90 bushels 10
eAport"rs. Receipts 173 cars.
Exporters wen good buyers Of oats
and consideranl. exchanging OF futures
for the cash grain was under way. Ship
ping sales here exceeded 100000 bushels.
part Ssy With s es'oT se d.mss nsSsD' yss1 crc, 70
ports are commencing TO attract more
attention. owing to the decided ia,eness
OF seeding
Trade In rye was not large. but the
undertone WAS strong with July and
September selling at a new high figure for
the season. A fair export business was
under way at the seaboard.
Fit Notes.
more bullish feeling existed In wheat.
Foreign news favored II. Markets abroad
were higher. The relation of supplies
and demand was regarded as more favor
able to holders. The selling was local and
by shorts or by operators who bought
early and were taking profits. July
showed more strength than May. II was
said July Is being moved up nearer to the
May TO make it better for hedging cash
wheat.
An excellent inquiry for new crop win
ters c. !. Z. Montreal and track Baltimore
was reported. All rye offered from coun-
try points in Michigan and Ohio over night
was said to have been accepted by the
sea board and sold for export
Part OF the strength in Liverpool yes
terday. which was up 1dlk per bushei.
was due to sympathy with an advance in
the Argentine peso TO sic. the best figure
since the war.
Chicago had EASE cars OF grain on
track this morning. There were 1,1S7
cars awaiting inspection and orders, the
smallest in more than week. At ele-
yatess, 1855 cars compared with AIS
cars last Friday. Unoaded Monday, 6l2
cars, and loaded out. 164 cars. A cargo Of
wheat and one Of oats was loaded yester-
day.