The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-10-07
Chicago Grain
By CHARLES ID. MIcnaELs.



/ Chicago, oct, 6-An oyerbought
condition was disclosed IA the grain
markets when local and commission
houses tried 20 accept profits, While
liverpool spot wheat and futures
were higher and the political news
was Of more warliko character.
Prices locally, declined rapidly Lack
~ aggressive buying was the feature.
Wheat closed Isn5 .sc lower, corn
of l-sH3,4e and rye b.su7bc, while
oats finished i.s0iie higher.
Opening prices on wheat here were
as much ~ ie higher December lead
ing. Further early buying Of De.
eember and selling Of May was in
evidence narrowing the difference 20
I i.se a. one time. The finish. how
ever. found the nearby delivery 20
under tho May, compared with ! 5sc
the previous day,
Liverpool Price. Higher.
Scarcity n SPOT wheat abroad con.
| tlnuss. Liverpool wgs ~ g15r, while
/ futures were 4 ~ higher on the near.
hF months Liberal purchases 10 arrive
Ia the Canadian northwest had a depfHsA'
ing erect on winnipeg y nat IHlHHtH n
tn 10 lover, although exporters were grhd
buyers. some rain NHs reported during
tho day IN Illinois and Iowa. That VIII
relieve tho dfnuihy condition Export
demand was slow, except from shorts.
30 red winter on track sold AZ Toe
over December. gaining 10 for the da".
Corn showed heavy undsftOBe from
tho start A. no time we're srlcss shove
IN" finish n the previous day, The finish
was on strong rally from tie inFlde
lines sold out by local traders early. tash
demand continues fair with sales ~ itQ'
600 bushels 20 exporters, Premium On
spot were i.uhc lower receipts $3.50 cars.
No change ~ Importance was noted IN
the car shortage situation.
Better Demand for Oats.
oats had a range o. y 10 ~. There
was considerable early selling ~ Decent
her and buying ~ May That trading
wldenrd the difference 20 lac. the I'M
i.h was tc under. Weakness In cash prem
iums which we're OFF nc, had deprsss'
ing effect on the December. Domestic
CASH demand showed Improvement WIN
sales Of 10000 bushels and exporters TOO"
10 900 bushels. Receipts. 81 cars.
wsak.W IN wheat was the main Dc
pressing influence IN rye, There was faif
buying here against sales N winnipeg ~
spfcadera 4 sal" Of 100000 DufhoH was
made here 10 e1porters 70. o. a. h ,l.a
sold at nc over December. The. t"o
northwestern markets received lsl cars
Pit Notes.
The grain trade tonight was hearlsh
on wheat and generally bullish on corn
ana oats An recognized tho fact that
grains are largely transportation prob
lent ,
4 good many local tradorE. who bought
corn freely on Thursday and were bulth
AZ heart sold out today, They said the
advance had driven in the short interest
and new buying support was not strong
enough to keep up values. They TOOK
"Canadlan farmers are selling an aver
ago Of I 200 900 bushels Of wheat daily.
Interior elevators there are shipping an
Rvs~age Of 1000 900 bushels" said s. c.
HnTris Of CrDsEroy n saunders
A large number Of the local operators
unloaded their wheat early, saying there
was no outside support Large buying
by large commission houses and covering
by several big local shorts, late in the day
made the closing rally.
Winter wheat seeding has been on
dry seed bed and II In good condIto 10
terminate with good ralna which were
reported In Illinois and Indiana today.