The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-06-29
Chicago Grain
By CHARLES d. MIcHAELS.
uInaha liaa I1assd MIR.


Chicago. June 2s.-Disappointing
ihfeshing returns continue TO COME
from the winter wheat territory,
There was increased mention Of
black rust in spring wheat in the Red
River valley. Outside trade failed
to enlarge. With hedging pressure
aud selling by houses that usually act
Tor 4 local elevator interest. the close
was ii a I.e lower. A good trade
was on in coarse grains but the aver
age was lower. Corn was of az
I.e aud oats !. a SIC, while rye lost
Ii a lAc. .
Hedging sales and selling by local
longs carried prices off lHc IN the
early trading. July wheat touching
SLIPS. On the breaks there was a
good class OF esmmission house buy
ing, that was attributed 10 New
York trader, A rally oil lN "a 2Nse
from the inside figures followed.
Strength in Minneapolis has some
effect. Tha, market closed Il "a Sc
higher with black rust a factor. Even
ing up by the local element was
responsible for the closing decline.
Estimates Reduced.
Estimates on the winter wheat crop are
beiag reduced NJ the result Of The as'
appointing dressings Nebraska now -
guessed at ~, 900, 600 TO $4,000. 900 bushels
BY local experts compared with IS. 900
on June 1. Export demand was fair with
sales Of 20, 900 bushels at the sss6oatd'
shippers taking the grain fearing tail'
road strike Purchases to arrive were
lis, 900 bushels
Fairly general rains fell over tha corn
belt and coarse grains were under pres
surs early In consequence. on the De.
clines cash houses bought July and sold
Ing over hedges. and there was persistent
houses outright. Reports Of a good cash
demand TOT corn had some effect: with
sales here estimated at over boo'ooo
bushels, partly TO exporters. Crop re.
ports on corn showed Improvement but
on oats continue poor. Both grains closed
around the inside figures OF the day. Re-
ceipts. 800 ears corn and 10 cars oats.
Country offerings. light.
July rye went to a discount of half =
cent under September at the last as the
result OF hedging sales and a lack OF
support. Export bids were reported AZ
?9ie out OF lins
An oat specialist says crop prospects
are the poorest he has known and there
may not be more than 100000 900
bushels raised. hut that would be more
than was consumed this season. Should
there he a lot OF light weight oats on top
Of the poor crop last year. even then
there would be more than needed. He
does not enthuse over the prospects for
q large advance.
Elevator interests were active buyers
OF July corn and oats. selling september
8. p. Arnot had reports from Nebraska
saying dry weather was needed for
harvesting wheat and corn was not suf-
fering for rain, the prospects being good
A Topeka, Kansas message said Kansas
got another soaking rain Wednesday. The
fall at Mcfarland was 2.2S inches, Wichi.
ia, l25: Dodge City, .22; Concordia, los;
Topeka, IS. Rains will help corn. pas
lures and hay crops and some uncut
wheat may be down. but little damage
will result
James Stewart, the largest trader IN
Winnipeg, was a heavy seller Of October
declined Ia to S1.2oA, losing the early
bulge.
Chnch bug reports from Indiana, H.
linois and Kansas are becoming more
numerous and are getting into corn. DAM
age is expected.
An increase OF 10000. 900 pounds Of
lard at Chicago is expected for June by
the trade here. Longs are llquidating.
Packers and carriers are changing July
contracts to September at good differ
ences, July liquidation is nearing Its end
and specialists say the market should do
letter when it 10 over Jobbing trade
in meats and lard is fair.
A board OF trade membership sold at
Sb,625 net to the buyer including Sa5 as
sessment. n decline Of $200 from the last
previous sale.