Omaha daily bee., 1922-05-13
Chicago Grain
By CHARLES D. MIcHAELs


Chicago. May i2-fhe edge Mas
of the wheat market today. With
selling OF May credited to the lead
ing longs, advances were not main,
tanned and the close was well toward
the inside figures with net losses o,
i-s@7-se. May showing the mos,
strength. Local professionals sold
corn and the finish was l.eMl-le
lower. while oats were l.se higher
10 Lac lower and rye ! l.s@i i'ee
higher.
There was much less activity and
more mixed sentiment in wheat
than on Thursday. May acted iish.
early and advanced 10 Sl.4o 5-t. a
new high on the present movemen,
aud was within J lac OF the bes,
figure OF the season. u was easier
for shorts to cover than recently. as
sufficient long grain came out 10
supply buyers wants, Apparently
the leading bull interest did not de.
sire material advance. While
prices held within a range OF l-2e,
there was fair activity at times with
liquidation by scattered longs and
shorts.
naik ss Trade LassL
Foreigners bought July wheat on al,
rect cable orders early. hut tho bulk ~
the trade was Of loesi character and
tho technical position WAS rather weak.
crop rsror's on the whole were favorable.
Further purchases af cash wheat w~rs
made 10 come here from outside markets.
Milling demand continues SLOW. A fair
export business was Put through in old
crop whssis ~ the ssshosrd. With sons
No (: hard a, = relatively, low figure.
it.ceipts .ss ears
The public 10 taking little inherent in
the coarse grain markets at present, and IL
was easy for tho local tysds 10 Influence
values. May corn gained sraationsiiy on
the July. the latter being under pressure.
Charters were made for 10000 bushels
to Georgian Bay and = fair business was
put through a the sesbosrd. Planting
Of tn. west. Oats followed corn closely.
with May stronger than tho July. Re-
eelpis ~ers i't cars corn and % cars
Exporter, continue to buy rye future.
and despite the easier tone In other
grains, rye closed At tho top. The sea
board took the July freely while COM
mission houses sold July and boush,
september a. src difference.
Pit Notes.
Trading IN May wheat was the largest
today Of any day this week. II was
possible 10 buy or sell good sizs totals.
Large selling and buying orders were
passed freely. yet the days range WAS
nttk TO N.tsS. and the close Si%&x
10 ti.t5. .
Julius Barnes II being connected with
the May wheat trading by many mIsin-
formesi people In the trade. The handling
OF cash wheat a. an elevator proposition
by q house with which ne II connected
is taken TO indicate that he 10 interested
on the long side. Mr.. Barnes says he has
no interest in the May or In the cash
grain except as a merchandising propo-
sition in the regular course Of trade.
While storage room for grain In Chi
ca.o IL tight. there II room for 100000
bushels or more available. There were
AHA cars of all grains on track here
today, the largest 30 far. This included
1885 cars at elevators and 1,43s cars on
track for inspection and disposition orders.
There were 3T cars unloaded and 21s
cars shipped out on Thursday.
The steamer Maythan finished unload
ing $1,000 bushels No. 2 red winter wheat.
brought back from Buffalo Thursday
night. The grain was bought for delivery
on May contracts.
Worlds exports OF wheat for the week
are estimated at around 100000 bushels.
or practically the same a. the previous
week.