Omaha daily bee., 1922-05-25
Closing Quotations ns---Stocks, Grain, Live Stock
Chicago Grain
By CHARLES MIcHAELs.

Oashs nss tss.sd Wire,
Chicago. May IA near collapse
Ia May wheat was due TO Tree selling
by house that has paid Tor the bulk
OF the cash grain delivered 80 lar,
That slump carried the price OFF sac
from the close oi the previous day.
The hnish was AZ q ne, loss OF sasc.
There also was heavy selling OF July.
induced by the break in May. July
lost Ji.e. while September Was OIL
ihe. Corn and oats showed a heavy
undefione. Both grains lost iiMle.
Rye was ssMle lower.
Rumors that the 80 called May
deal here was over. undoubtedly in
dueed by yhe character OF the selling.
created a decidedly bearish sentiment
among all classes OF traders. Sup
port in the May came mainly from
a local house said to have been the
leading short. but the rallies were
short lived. There were persisten,
selling on all the minor upiurns.
Commission houses were moderate
buyers OF the deferred deliveries
early. but toward the last the buy
ing was almost entirely by shorts.
short Interests Reduced.
The bulge Tuesday greatly reduced the
local short Interest There was moth.
ins In tn. character Of the neNs 20 In.
dues buyers 20 take hold freely. Liverpool
closed l.a,.d lower In the face Of the
advance here the previous day. The st.
port demand for new crop winters was
fiat. IN. xosetnmsn, weekly weather and
crop 10 making excellent progress. be-
livariss on May contfAets remain liberal
Coarse grains were under pressure from
local traders from tho start There WAS
considerable. selling OF July oats at times
by commission houses that were tho best
buyers tho previous day. Weather con-
ditIons were favorable for the planting
OF corn and the growth Of oats and while
thers was a fair cash demand. the re-
tnoval of hedges was not sufficient to
offset the scattered liquidation which de-
v.loped toward the last Shipping sales
OF corn were 100000 bushels and oats
100000 bushels. the latter going mainly
to exporters. Receipts. sos cars and ~?
cars oats.
Liquidation In other grains had ~ de-
pressing effect on rye sndN on the break
houses with scaboard connections bought
, ana some some business WAS reported AZ hay.
bushels were made to go 10 store
Pit Notes.
Heavy selling Of May and July wheat by
the leading houses who have paid for the
cash grain this month lead TO the i'm.
preston that the longs were getting out.
u was also asserted that the house had
turned bearish on July and predicted
lower prices. The latter was denied after
the close by the head Of the house For
Two days II Is estimated by the trade that
around 100000 bushels May has been
sold out by different holders and has zone
hat k.n
tne cash wheat here to deliver That
there was nothing TO settle was taken as
referring to the leading short who has
the cash grain.
wneat. as the export and milling demand
mas been disappointing. number of ST
Louis operators who were here yesterday,
talked bearish on July and said crop pros
pects were too good and cash demand too
poor to be bullish at present. Rallies are
10 be looked for every few days as the
markets become oversold. Tuesdays ad-
vance Y, was more than lost and May at
nlgh OF a week ago. July wheat is re-
sarded as sale on all bulges above the
present level.
Although the deliveries of cash wheat
more than 5000 900 bushels. counted as
the grain Is put out daily. there must be
an allowance Of so TO so per cent for du-
plicatton as there is not believed to be
5000, 900 bushels OF contract wheat here.
but there is close to 1t, counting all po-
sitions
May. oats are acting tight having ad-
vanced from 3xc under to 1hc discount
from July within three weeks This is due
to 4 better export and domestic demand
Good sized orders were here for cash
oats yesterday for export. Eastern In
terests are buying the oats here and
mixing them at Buffalo and Georgian
Bay ports with heavy Canadians to make
81 to ss pound white clipped for ex-
port.