Omaha daily bee., 1922-04-30
t, Financial and Industrial News of the Day
Chicago Grain
By CHARLES d. MicHAELS.
Omaha No. lAsseh Miss.

uaAao 49, iAose0 WUs.
| Chicago. April Divide iiuetua,
iions in May wheat featured the grain
markets today. Grain conditions
were the dominating influence. While
values were higher early. there wa,
a sharp break, Final trades were al
loss OF 2 s-se. The deferred de.
liveries were unchanged. Corn show,
ed a strong undeftone. bu, eased of
toward the last. when il lost 3-se
while oats were off 5.sa7-sc, and
rye s's@5.4c lower for the day.
Liquidation was on IN all grain.
IN the last week. due TO evening up
on the part Of longs in the May de.
livery. The finish on wheat was well
toward the bottom. with net losses oi
! l.2mS i-se. Corn received good
support. however. and lost only 3.s
M7fSc. Oats were 7-sal Use lower,
Rye was under pressure and finished
with a net loss OF | l-2M4c. Pro-
visions were unsettled with lard 10
Ml2 l-2c lower. and ribs s620c
higher. Shorts in May whea, cover
ed early on the closing advance OF
l@l lac in Liverpool and on even
ing up for the weekend. That car
RED prices up TO Sl.45. rs. Toward
the last scattered longs started 10
liquidaie and found support lacking.
making break OF 4 7-sc from the
top and prices fluetuated very rapid
ly until the close. The deferred de-
lieveries were effected by the action
OF May and broke after an early ad.
vance. Outside interest was not
large.
iesmsny Heavy Buyer.
Houses with ssnboard connections were
against sales of new crop winters Ia
Germany. That country was said 10 have
taken over 100000 bushels in addition
to like quantity the previous day.
Movement in tn. southwest shows signs
at Kansas City. May In tho latter mar
kct went to over per cent discount un-
der Chicago at one time and closed i6h
under, There Was Sss os talk Of charters be-
els to take out wheat expected TO be de-
1ivercd on May contracts here.
Corn showed strong undertone early.
but later there was general selling OF
NNy Wy lbHks Which PtlNeh oti
around io from tho early top and the
finish was about tho bottom. Elevator
interests bought May and sold tho de-
ferred deliveries. Cash demand was only
as compared with tho May. Bulk OF the
trade In oats was in changing from tho
May 10 the July by scattered longs anil
the difference widened to 3-Sc. COM
pared with Sc tho previous day. Private
reports suggested a decrease OF IL per
cent in the
Rye was affected by the action Of other
grains and closed easy. Export demand
was only fair. although some business
was said to have been put through at
Estimates on deliveries Of cash grain
on May contracts Monday are 10000
bushels wheat, 100000 bushels or more
each Of corn and oats. 100000 bushels
rye. about all the stock there is here.
about 100000 pounds Of lard. The trade
had a report that charters for more
than 100000 bushels of wheat had been
made for shipment east as soon as It ts
delivered. 1t is said that the wheat had
been placed at the seaboard and abroad.
There was liquidation both ways IN
wheat today. especially in tho May. A
lot of timid shorts covered early. advanc-
ing the price 6-sc over fridays close.
wheat in the country and pressure from
local interests. who are bearish. forced
prices down nearly 40 to $1.39 with re.
covery of u to &c at the close. Local
traders who sold around $143 were good
buyers at $1.40 and under. The seaboard
picked up lot OF May and cash houses
bought May and sold July freely around
1870 difference. There was also COM
mission house buying around $l.3sh:
A cargo of No. hard wheat delvereu
at Georgian Bay Is said to be under
negotiation at May price. This Is said to
be a very low figure.
Kansas City wheat stock decreased SOL
900 bushels in five days. Receipts there
today were $50 cars and 400 are expected
Monday.
There are 1.115 cars Of all grain on
track in Chicago.
A bullish feeling prevails among a
number Of leading corn traders VINO pc
lieye that prices are to work irregularly
higher, Others claim that those who sell
short will get the carrying charges even
tually.
Arthur Cutter says that there are TOO
many people who have no Idea OF values
Of grain or what the cost OF production
An effort Is being made to have the
barge rates on the Erie canal from BUY
falo to New York reduced to pasis
that will compete with the Montreal route
and divert large part OF the gram
shipments that are attracted to Canadian
ports to United States ports,
In reviewing the corn situation, Riordon.
Martin & Co. say they fail to SEQ wnere
the Incentive is to market corn At ov
cents per bushel when farmers can ieeo
and secure around 81 per bushel on tne
present price of hogs.