Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1922-02-18
Chicago Grain
By CHARLES d. MICHAELS.
Omaha lee Leased Wire.

NaHANat'F ib. - u alNAAlh SUI
ing by longs who had coed profits
was on today in all grains. While
there were numerous rallies from
the breaks. the undertone was heavy
and the finish within a fraction OF
the bottom, with net losses of l4@
use on wheat, S@Ac on corn.
AMlBc OH oats and lac on rye.
Foreign wheat markets were
heavy with Liverpool 1@lHd lower
and Buenos Aires lHc lower at the
opening, which had considerable in
fluence on sentiment early. Strong
commission houses sold the May and
it was apparent that the technical po-
sition was still somewhat weak and
that a further decline would be ben
eficial. Under Sl.38 early there was
good support but offerings increased
on all the upturns and after a range
of 2I2c the finish was at the inside
figures.
July Strengthened.
Unfavorable weather and crop reports
from the southwest strengthened the July
and at one time it was &c above the
previous days finish. with a sharp break
toward the last on selling by some OF the
early buyers. The May-July spread mar
rowed to Ice difference at one time
against ike at the close of the previous
day and was sc at the last.
With the exception of the lower cables,
the greater part of the news was bulllsh,
Minneapolis and Kansas City reported
better flour demand with one Kansas
city mill selling $4,000 barrels. Milling
demand was fair with sales of 10000
bushels here and 10000 bushels at st.
Louis. while Omaha sold $4,000 bushels
TO an Illinois mill. Movement continues
to exceed last year, although reports from
practically all sections indicate that after
March l arrivals will decrease mater
tally. Germany took 100000 bushels Man.
tobias at the seaboard Thursday and
there was little business in gulf and Pa
cific coast grain.
Corn Finishes Heavy.
Corn showed considerable resistance to
selling pressure early, but the break in
wheat increased bearish sentiment ana
the finish was heavy. Eastern denahu
was brisk with sales of 100000 bushels
here to the seabord, while country offer
ings to arrive very small. Sample
values were unchanged to &c lower. with
receipts 671 cars. 1t was expected that
large purchases of corn grits would De
made overnight for Russian relief
Weakness in cash oats due to the with
drawal from the market of the largest
buyer of late and slow speculative de-
mand, resulted in lower prices for fu-
as compared with May. Shipping sales.
21o 900 bushels with receipts 1873 cars.
Scattered liquidation was on in rye,
due. to the break in other grains ,,r ana
the finish was weak. Export demand
was reported slow.
Pit Notes.
Modern Miller outlook, Chicago:
Moisture is badly needed for winter
wheat in the southwest. Over impor ian,
winds blow 1t about and there is some
fear that this will increase the percent
age of abandoned acreage" ,
Minneapolis wired that the intersla.e
Commerce commission has rejected the
500 Line tariff to take grain east with
out old billing and rates apply. This re-
duces the possibilities OF oats peins
shipped to the market from Minneapolis.
I'VE are receiving numerous reports
from south and west points of consider
able damage from high winds and dry
soil conditions: There is very little corn
offering here
Hastings, Neb., wired: 1.-THE most OPP
timistic farmers in this section 10 days
ago are now pronounced pessmists. Iney
say they won't raise over 80 per cent or d
wheat crop with best conditions prevail
ing"
Winnipeg Tribune is credited with
claiming that there are 100000 bushels
of wheat remaining in Canadian farmers
hands.
New York wired; 1.-THE American re-
lief administration expects to Withdraw
from the undertaking in famine stricken
Russia by September l."
Oklahoma weather report says: Most
of the week temperatures were above
normal. No precipitation and drought
continues severe in most Of the western
E. F. Leland 6 Co.'S Minneapolis office
wired: Some mills report a fair flour
BUSINESS over night and there was some
buying of May. Think our May purchases
with Chicago now"
Broomhall says: Market for corn in
the United Kingdom holds firm, with
fair business passing in the American
mixed varieties. Plate sorts still hold |
at relatively firm prices"
Colby. Kan, wired: From Phillips |
burg to Colby about rs per cent of wheat
has made good growth. with |
strong healthy root but frozen to ground. |
Balance of acreage not above ground and
about 10 per cent of this Is dead. Mois- |