Omaha daily bee., 1922-01-24
Chicago Grain
BY CHARLES ID. MICHAELS.

Chicago. Jan. 2j.--RealiziBg sales
in wheat following bulge Of 7-se
! LIE over Saturdays finish. proved
too much for the market. While
sentiment remains distinctly bullish,
the close was at net losses Of $50
le, May showing the most strength.
Corn held within a range OF lie,
being firm early with wheat only to
close easy with prices unchanged 10
l-Sc lower, while oats were strong
throughout the day and unchanged
TO l-sc higher at the last. Rye was
Lac lower.
Continued buying Of May wheat
by strong commission houses, part
~ TO close spreads, absorbed the Of
ferings IN the pit early and the May
July spread widened to Is 5-Sc at
the last, the greatest difference so
lar At the high May was up Ia
over tho low OF last week, and the
market had been on the upgrade Tor
II days.
A more general disposition 10 take
profits was noticeable on the advance not
only here but in Winnipeg also, outside
trade was not sufficiently large 10 absorb
the increased offerings. with the oheep-
tion OF a little hard winter at III. gulf
export demand was slow. and with Ar
gentine grain pressing for sale no ma-
terial business - expected 1srmhny ana
Russia both bid for 100000 bushels Ar.
gentine wheat during tho day, and
Buenos Aires opened IL higher on the
demand. Liverpool advanced u ~ Nd for
the day.
Drouth IL Unbrokeu.
Drauth remains unbroken in central and
western Kansas. The Department Of Agri-
culture'g report on the European crops
was construed as moderately bullish. The
trade looked for rbsral reduction in the
visible and were not disappointed, the de-
crease being ESQ. geo bushels, hut ~ at
tracted little attention after the report
was given out.
Spreading operations between corn and
oats had a depressing. effect on the former
grain, but there was a good class OF buy
ing at times and the UNDERGONE was not
weak, although the close WAS at the low
point Exporters continue after corn ana
took 325oo0 bushels shere and u Is eN-
pected there viii be purchases for Rus
sian relief Wednesday.
The seaboard outbid Chicago in the In
terrier for cash corn. but the advance IN
hogs to around &c is causing lighter Of
fers of corn in some sections of the west.
Receipts We're f.1ss cars with sample
values unchanged to &c higher with re-
ceipts 1,16s cars.
May oats gained fradQonslly on May
14hc on Saturday, and there has been a
gradual narrowing Of the difference the
past few days due to spreading operations.
Commission houses were free sellers at
sshc for May. The closing reaction was
in sympathy with other grains. Shipping
sales 10000 bushels. with receipts 2os
cars.
Pit Notes.
There was evidence today OF further
buying of May wheat by leading interests.
with some buying orders coming from the
east Buying of May a Winnipeg by
Armour has been factor the last week,
and advices received from the Canadian
market today said that the buying had
been persistent and heavy enough to take
good deal of the slack out Of the
market,
Wheat in the Texas panhandle district
is in poor shape, according to latest re-
ports from that section.
Worlds shipments of over 10000, 600
bushels wheat were evidently reassuring TO
buyers on the other side. There was little
change in Liverpool prices. Argentina
shipments are increasing earlier than
usual, and there is more activity. Both
Germany and Russia are said to be after
tho Plate wheat this morning which is
not unnatural as it is cheaper than either
gulf or Canadian wheat.
Offerings of corn from the country con-
tinue moderate from Argentina, and ship
pers are paying more attention TO wheat.
The demand for corn from this country
for export consequently is expected to
be good.
An advance of SOC in hogs put the
price of light hogs to over 80, adj
vance of more than 81 In few days
There were 1888 cars Of grain on track
In Chicago today, against 2,2G2 cars
week ago. Total arrivals for today were
,47S cars. At elevators there are 1888
cars and held outside for inspection and
DISPOSITION 2.105 cars
Flour prices have advanced 25c the last
two days. Trade is mainly in small lots.