Omaha daily bee., 1922-05-11
Chicago Grain
By CHARLES d. MIcHAELS.
Omaha bee ieassa Wire.

Chicago. May i0-The govern,
ment report on winter wheat. issued
alter the close on Tuesday. failed 10
have any effect on values and was
quickly ioFgoiten. Prices iluelua,ed
m an aimless manner. May reversed
us action OF the previous day and
showed an easy undeftane. closing
l-se lower; July was Lie higher;
September unchanged. Corn was 8
"a j-se higher. oats. i-se lower to
lie higher. and rye. unchanged TO
] lie lower. the latter on May.
There was not sufficient change in
the general surroundings in the
whea, market TO justify extensive
operations on either side. A little
early selling OF May found the mar
ket poorly supported. That made
a break OF 2S-ic from Tuesdays
finish. with a rally Of 5i-se later on
short covering and scattered buying.
There was some May taken to re-
move hedges against export sales.
Foreign demand showed consider
able improvement, Germany was
after new crop winters at the sea-
board, Sterling exchange sold at a
new high since 1919. Germany took
l,oS0.000 bushels Australian and Ar
gentine grain on passage.
Government summary B~attsh.
The pit element await leadership In the
deferred deliveries, Crop reports show
reported south % the Ohio river. The
government weekly summary, however.
was construed as rather bsafish. Seeding
II delayed in the Canadian northwest.
There In some buying Of Winnipeg October
against sales Of Chicago September
Scattered liquidation Was on In May
corn early. but fsinsthtlnH of lines OF
July. sold out on the recent bulges. alb
There was som. buying OF May by sea-
board interests and elevators. The mar
ket rallied quickly and showed a relative
ly firm undertone. Eastern bids for grain
Tor export wers out OF line. but tha domss,
tic call was better with sales OF .os,oo
bushels. Receipts were 25b cars.
Oats were somewhat unsettled. May 60
ing to n slightly wbier discount under the
July. July was sold freely early nj Sshc
by leading local interest. Domestic
shipping sales were .ss.oo0 bushels. Re-
Iiauida,lcn in May rye carried 1t off
rather sharply and at the first II was
only &c over the July. against &c week
ago. The seaboard bought july. fair
export business was under way at New
York. Receipts. 40 cars.
one feature OF the wheat market h
the light outside trade In all deliveries.
In May most OF tho business is In small
lots. A few large houses bought May
and sold July at iSac difference. Kan
sas City has gained more than lc on
Chicago May In the last two days. Win
nipeg, which was at a discount under
Chicago recently, was nc over at the
close today. Good sales OF hard winters
were made at the gulf for nearby ana
for new crop shipment. in addition 70
the sales of over 100000 bushels Mani
one Of the largest handlers OF cash
corn says that should the market for
May wheat collapse. corn might break 70
be well TO buy. He is not bullish on corn
for the present and says he is able to buy
all the corn needed in car lots. as scat
tered deliveries by farmers are suiiicient
to make a liberal aggregate. One thing
that attracts attention. he says: Is tns
unfavorable condition Of the soil, owing
to excessive moisture, when VIII Hahe
planting late.
oats have been made on May sales AZ
Winnipeg This has strengthened values
and caused undoing OF spreads pe.meen ~
Chicago and that market. winnipeg 10
round lots of oats here today and domestic
trade is taking larger supplies than Ior
months. a,
There were inquiries for cash corn n
store today. presumably for shipment. ana
q was understood that fractlohai
,,rsr,imm over the May could be secured
for round lots. There is a loading out
charge OF 1Ac. however, to be consioereu. e
No. 1 northern wheat remains the Con
tract grade of wheat for delivery on oc
tah.r Contracts AT winnipeg. with NO.
nopthern north at &c penalty and No. north,
Nv a. sc penalty Heretofore, NO.
northern was delivered at &c penalty, Gcoa
Publications point stronsy 10 can bs
uroduced % by importing and exporting
countries as long as, Russia Is not IN
exporter." said Broomhall; Some onIs,r people
who have visited the latter county, Gr,cmi.
a. will be several years oeiofe ss.o.
turs recovers tho losses sustained since