Omaha daily bee., 1922-05-23
, Financial and Industrial News of the Day
Chicago Grain
BY CHARLES d. MIcHEALS.
OMsha Nee Iss,sd Wire

Chicago, May 29.-Mild liauida.
ton was on in all grains, but the
tendency on the part OF local ele-
ment 10 oyefsell tend TO their undo
ing, The finish WAS on strong
rally, with May wheat &c lower and
the deferred deliveries unchanged
10 Sac higher. Corn was off 2. 10
se. oats, Il 10 is and rye 7. 10
lhe,
There was a material early pres
sure on wheat Despite a break OF
:. 10 lid IN Liverpool. local peo.
pie were lair buyers. the market
acting somewhat oyefsold. The SELL
ing OF a large-sized line OF July by
a local house caused general selling.
that caught stop loss orders. AZ
the inside figure. July was OF ! lAc
and September le from Saturdays
finish, May was off nearly &c.
Short covering toward the last
found offerings limited. That was
responsible for the bulge.
\ local professional pressed the
selling side OF the May. but covered
oil the minor breaks. Trade in the
nearby delivery was only moderate.
Sentiment generally was extremely
beafish. A decrease OF i,o55,0O0
bushels in the visible supply at
tracted little attention. Neither did
the increase OF nearly 100000 bush.
els IN supplies on passage. al.
though the latter was contrary 10
general expectations.
Torn Acts Firm.
while corn acted rather firm. the break
u wheat led 10 general selling which car
Lied prices of tgii.e from the close OF
Saturday. with numerous stop loss orders
caught on the way down. but when shorts
tried 10 cover they found little for sale,
making strong rally. Forecast Was for
showers over the main corn belt. North
afn Iowa and southern South Dakota was
reported as putting in = normal acreas.
under excellent soil conditions. Shipping
demand was fair with sales Of 100000
bushels. Receipts 5o5 ears
Liquidation was on In July oats and IL
led the decline In that grain with free
selling at 3sc and under by n leading local
house. great deal OF exchanging of
futures for cash grain was under way
for seabosrd account. but no sales were
reported made here TO the east for ex-
port with premiums on spot i.c lower AS
compared with the July. Receipts ?37
cars.
Rye futures were dull and easier in
sympathy with wheat Seaboard bids
were out OF line. No. on track sold at
May price.
Wheat is coming here from all sections
OF the Southwest and piling up at Chi
cago. The increase last week was 1885,
100 lushels. making the total In store
bushels on track. Deliveries Of $4,000
bushels went around freely for a time
and finally landed with the usual houses.
Chicago had Sls cars in today: Kansas
city. t21 cars. Omaha. .is cars and st.
Louis ISL. total OF 7sl cars for the three
markets. compared with SCI cars week
ago and s3S cars last year. Kansas city
about two months ago, are down to o.
10000 bushels, Omaha has 752. 900 bushels
and st. Louis +os. 900 bushels. Liquidation
was on In corn and oats and the local ele-
ment became oversold. making a rally at
tho last For the balance Of this month
action of all markets is dependent upon
that of May The trade viii not be sur
prised at anything May wheat does, all
depending upon the action taken by lead
ing interests on both sides. In some
quarters tonight wheat was said to be
low enough and May might sell much
A Sioux City man says there will he no
reduction In corn acreage In northwestern
Iowa and In southwestern South Dakota. |
Corn planting is under way and oats gen.
orally are doing fine.
Old heavyweight oats have declined 1 |
to &c In the prsmiums from tho highest |
point OF the season. This is due to In
creased offerings of late which has made
buyers hold off and reduce their bids |
Premiums on No. 3 whites today were off
y to 1c and the market for that grade
&c lower for tho day
Contract stocks Of wheat in public ele-
vators in Chicago Saturday night were |
1850. 900 bushels. corn, 2.154.000 bushels. |
and oats %,s23,0o bushels. For the week
wheat increased 1.10s. 900 bushels. corn
decreased 71s,ooo bushels and oats sss.oOo |
hushels