Omaha daily bee., 1922-05-05

By CHARLES d. MIcHAELS,
Onshs Bss lSss~A Nirs,

Chicago, May A brearish SEN
timent prevailed in all the grain mat
keis. Weather conditions were ek.
eelleni. There was a general belief
that the technical position had been
weakened by the recent up,urn,
Profit taking was strongly IN eyi-
denee and there was also grea,
deal, OF local pressure, Wheat lin.
ished i-sMs l-tc lower; rye oil
l-sM i-se: corn closed unchanged 10
lie lower. and oats i.Se higher 10
l.se lower,
Action OF the wheat market was
decidedly erralie. Al no time were
the deferred deliveries as high As
the previous close. On all the up
turns commission houses aud the To-.
cal element sold rather freely. The
breaks brought support from houses
with export connections. They took
July wheat. Outside interest was
small. The general run OF crop re-
ports was rather favorable. Spring
wheat seeding is nearing completion.
Trading in May was light. The
market quickly responded TO any
good buying or selling. There were
reports OF wheat coming here Tor
delivery from other markets. bu,
these reports were not confirmed.
Milling demand generally was re-
ported slow and while Minneapolis
was said 10 have bought 50 900 bush.
els Manitoba from Duluth, May
wheat there closed 7-8c higher
despite selling by mills. Local re-
ceipts i40 cars.
May Corn Tight.
May corn Is commencing TO act tight
snd IL went TO . cents under the July al
the last REainst NC under = few days
ago and closed firm. Exporters were
after cash grain hero although no busi-
ness was put through. Country offerings
arc increasing as piowing and planting
This had some effect on sentiment and
led to profit-tsking and local pressure
and the lower average Tor prices, Al
though the undertone was not weak. Casn
corn was unchanged TO nc higher with
the basis on yellow &c higher. Receipts.
lss cars
Oats he'd within a range OF i.GSc.
May showed more strength than other
deliveries. due to some changing OF hedges
by cash interests big cash business
was on at Minneapolis with Soo.o BUSH
els reported sold for export. Local re-
ceipts 1oi cars. with sample values un-
changed to &c higher.
Sales Of 900 bushels new crop rye
for last half August shipment were male
from the seabosrd Wednesday at &c
over Chicago July. {. o. T.. Baltimore. and
that price was bid for more. Rye fu-
lures were bought by scattered commits
a.. Aa N
light.
Seeding of spring wheat I'm Saskatche-
wan was general on May i, except In the
east central district where there had been
Germany must find 800. ooo,o 900 in gold
TO finance purchases OF foreign 1000
stuffs. according to statement by tne
German chancellor Conditions are so
serious and the food problem 30 difficult
provision for bread Is TO take rank over
every other consideration.
Efforts TO confirm reports that consider
able wheat would be moved from MIN
neapolis to Chicago and milwaukee were
without avail. There Is some wheat com- M
ing to Chicago from the northwest Tor
a local mill but messages from Minne-
apoIis indicated that X any such guam
tity n grain was loading out as mt
mated Wednesday, It either would oe
corn or oats. There was report that
ST Louis was to ship wheat to Chicago
ALTHOUGH spot sales Of No. red there were
at premium over Chicago. May. NC
material quantity OF wheat ts expected
,o he moved from Toledo to Chicago The
former market reported a good demand
| for southeastern mills. 49, 49,.
while oats crop had gone Into tne
ground unusually late and the acrease
promises to be cut down 10 per cent; ,ne
deferred deliveries were selling within
.63c OF the inside figure of the crop.
on the other hsnd., despite the recen.
bearish feeling In wheat. the July was
within &c OF the best figure OF the season
today and the September within NC OF
the top. a,
deliveries on May wheat contracts az
Chicago were $4,000 bushels. at MIN.
neapolis 100000. at winnipeg ,,u .st.uyu
bushels. There have been 100000 pushe,s
cash wheat delivered nt Minneapolis 10
a Chicago operator.