Omaha daily bee., 1922-05-28
1t, Financial and Industrial News of the Day
Chicago Grain



Chicago. May IA general move
to even up Was under way in wheat
today. especially in the May. Liqui-
dstion Mas on in the latter with
prices holding within relatively mar.
row limits. with the finish se lower.
Deferred deliveries Ish into tree SELL
ing on the bulgss. while on the
bfesss offerings were readily ab.
sorbed and final trades were al net
gains OF i-se. Coarse grams wefe
dull. with corn unchanged and oats
i-sai-se lower. Rye closed i@.e
lower.
A collapse OF the so.eallsd May
wheat deal came the past week and
with general unloading by scattered
longs. prices dropped sharply. a, the
infide showing sJe under the high
OF the previox week and Al the las,
was of Toe as compared with a week
ago, Deferred deliveries were fa,h-
er unsettled with July of lie aud
September lac higher.
Corn aud oats had a very narrow
range and averaged lower. corn los
ing S-s4l i-4e and oats J-s6Il i.le,
May rye went 10 q discount under
July for the first time Oh the crop
aud closed 4 i.+efo J-se lower. Pro-
visions. while dull. closed with lard
unchanged to 7 lie higher and ribs
e0e higher 10 lse lower.
Trade in May WHEAT sas on a rather
liberal seals with scattered liquidation BY
longs In evidence ffom the staft. while
shorts took the offerings on the decline,
The deferred dsilssfIss showed = tendency
70 break away from the influence Of tho
May and averaged higher. with a little
more euilish sentiment noted amongst the
pit element.
There Was little In the new. 10 induce
any material buying or selling Of tho
new crop futures Dry weather would bs
brnrheia over good part OF tho winter
whes, belt, with The iorecss, for xensr-
ally fair with seasonal temperatures, III.
port demand slow aud mill. not Inclined
10 take hold freely. Deliveries on May
contracts asrtesai-d f.too.ooo bushels.
Coarse grains were duh. but showed
stubborn Resistance 10 pressure. and corn
rallied easily after a minor break early
Wet weather complaints were again In
evidence, especially from Ohio. where con.
siderable corn remain. TO be planted. Lo-
polli.h on account OF the unfayorabis
weather conditions, Cash demand was
only fair. with ilttls change In tho basis
u
rsains IN rye was mainly OF . local
character with some buying on the dc.
eiines credited to tho ssabosrd.
Pit Notes.
Trade sentiment IN wheat nt the close
WAS more mixed. with q good sprinklInx
of bearishnsss. while operators who have
oeen bcarish for long time said they
dld not care to sell wheat or corn at this
ie'ci. although they might 20 some lower.
good class Of buying was on In July.
ana September wheat and free selling OF
september corn at 6sc. A feature OF the
entire trade In all grains was the limited
ouying support except In July wheat
whicn was taken on general principles by
houses with seabosrd connections.
Liquidation in May wheat was on heay-
~ all day from large and small holders. \
Houses who have been credited with hay.
ing largest lines for local and eastern op.
orators were free sellers and delivered 4
good part OF tho l.<00. 900 bushels cash
wheat early In the day. In all putting out
$4,000 bushels. while elevators interests |
sent out 500 900 bushels
Purchases Of $4,000 bushels No. 4 wbIts
oats were made Friday At INC under Sep.
Chicago. rs = -" =
A local cash broker bid ,I..s for No.
red wheat in store. offering TO take rs, 600
bushels There has been 1850 cars Of
req winter received At Chicago so far this
month. but holders are not disposed 10
soil At present. They are willing. how.
ever. to sell wheat on track i
Prospects for the spring cereal crops
In Russis are more favorable than in re-.
cent years. according TO reports to the
Dspartment Of Agriculture. Cold and wet
weather has been unfavorabls for spring
seeding in western Europe. Planting Of
corn u Progressing rapidly in central Eu-
rope. 80