Omaha daily bee., 1922-04-14
Chicago Grain
By CHARLES d. MIcHAELS,
Aa.z1a Air.

Chicago. April ia radical
change ~ the foreign wheat out
look aud demand, combined with Tree
buying OF futures here ioF foreign
accounts, disclosed an oyefsold con,
ditian, Congestion in May became
apparent, Closing trades were IN
Nav q. 5Mj IL cents on ~Sheat,
while corn was up J-l cents, oats
i-2mS's cents and rye ! 5-i@.
cents,
A turn for the worse in the Eu-
fopean crop outlook Mas given as
the cause Of the foreign buying. al.
though some Of the reports ~ 10
the quantities taken were materially
too large.
There is no broad demand such
as Is needed TO keep values on the
upgrade constantly. With a holt
day ahead. the pit elemen, generally
eyeued up toward the last, although
some went home long, Crop re-
ports from western Kansas make a
poor showing with a private esti-
mate showing l25,00O,000 bushels Tor
that state. That figure generally
is regarded as too high. Milling de-
mand showed further improvement
with sales OF 10000 bushels 10 Chi.
eaeo handlers. Export sales esii-
mated at 100000 TO 100000 bush
els new crop grain and 100000 bush
els old, the latter having mainly
Mani,obas. France and Italy took
100000 TO 100000 bushels wheat
on ocean passage.
Corn and Oats Higher.
strength in wheat was IN" aanaihauns
Influence In corn and orts, Whir Hane
W.. iIxht, both thes. grains showed tslr
ne, rains Tor the day. Toward the last
.hoyt covering WAS pronounced weather
conditions were somewhat more faforhhle
for field work. although the forecast wa,
Tor generally unsettled Cash hcmsnn
xs. Itttis better. with safes Of so.nno
tu.h.Is corn sni 10000 bushels oats The
Kansas city plant Of the Corn frnhusls
company has shu, down for three month";
Receipts 70 cars corn and AZ cars n''N'
with cash corn "a nc better. as COM
pared with May. -
Houses with ssabosrd connections were
fair buyers Of rye futures aud mere Was
soms May taken by local interests I'm
port business was under way at the sea
beard hut tho quantities were not sivcn
out. Number on track sold at Ia a-e
under May. .
Russell. says Of the foreign wheat SIT
The change In the foreign wheat sit
uation appears TO be radical. This morn
ins's cable shows May closing at price
May. which IL about cents more than
the spread at the time Liverpool was
buying heavily In February and March.
The cost OF laying down wheat from Chi
70 at OpenlnK
cation, Is only a little over the apparent
spread this morning. The advance IN
Liverpool is apparently due to tho
strength in Argentina. Sales are reported
this morning equal to about sl.Sob &C.
tualIy arrived with wheat to be shipped
quoted at equal TO about Sl.527s. or about
S cents a bushei over the No. hard win.
cents under No. . Manitoba. nearby
shipment. while opening Of navigation
No. 2 Manitoba figures about the same
price as Argentina .,
from every county in Kansas indicate
a wheat crop Of 22.7bi.ooo bushels Aban-
doned acreage Is placed at 2,2tS.oO0
Winnipeg wired that there was a bet.
ter feeling in the cash market fer wheat
with prices unchanged to Nc better.
Holders Of cash grain frightened up on
any signs OF demand.
Lccount wired Stein -Alstein from Pratt
Kan: ,,.
"All the way down from Dodge city
fields are very uneven. Some promising
wheat and much that will be abandoned.
Spring terminated wheat is weak, spind-
ly and lacking vitality. Tho western
third Of Kansas has a prospect Of about
one-third Of q crop" Il
The weekly report Of the Northwestern
Miller said that the flour business was
dull throughout the week. with prices
nominally.. unchanged. Reports indicate
gradual reduction in milling activity
all along the line.
It was understood that Greece will be
In the market for 100000 bushels OF
wheat about April 81. 1t 10 expected
this order will be for Manitoba wheat.
A much better milling demand for
wheat was reported by some houses and
there was a large number of mills after
wheat. Some Of the wheat sold was at
Manitowac. and was sold at equal to 20
&c over Chicago May for No. 2 hard win
ter C. l. I. Buffalo.
Argentine shipments for the week were
Since January l shipments have been
S1.26s. 900 bushels or about 3s.ooo.0oO
bushels more than a year ago. Corn ship
ments for the week were 1.03S,000 bushe-
els. also larger than the estimates.
News from Argentina attracts more
attention. The trade here does not be-
lieve the claims OF large surplus there
are right. So far this season exports
from there aggregate 61,26s, 900 bushels.
compared with 22.Sss.000 last year. An
exporter we'll posted in Argentine con-
ditions says that Argentina has not and
cannot ship any such amount Of wheat
as recently reported available for ex-
port.