The Omaha morning bee., 1924-10-22
Wheat Market
Uncertain but
Closes Higher
Recovery Due to Export De.
mand and Unfavorable
Crop News From Canada
Corn Relatively Firm.
by CHARLES J. EEYDEN.
niNersnI Service Staff CnrrnSnnndenf

tEfNef>HI service StHff @0rreEpOndenf.
Chicago. Oct. 31.--After a series of un-
certain swings of unusual rapidity up and
down. the wheat market closed higher
today. Volume of trade was not broad.
but the dips the market repeatedly
ran into an impressive class of absorp-
tien. not noted on the previous day, and
early sellers were forced to cover at the
Canada. slight betterment in the export
throaehouf ' helped Ve to ess bring about % 'the the
recovery = the leading cereal.
:. Wheat closed Z T,.S to 1he higher; corn
,,sc higher, and rye ruled &c lower TO
Most of the session the market pre-
especially on the flurries, but it came
back with surprising vigor and at the last
been numerous reports from the hea-
board that foreigners were less inter
ested In our wheat II Is to be noted that
the breaks this week uncovered good
The seaboard confirmed total sales of
100000 bushels wheat TO Europe. large
with the United Kingdom buying sparing-
ly. Moderate sales of corn were made
TO Belfast and Rotterdam. Liverpool was
The. seaboard confirmed fair sales of
corn for export Some messages indicate
that before the coming crop year is over
here is likely, to be world shortage of
this grain Weather conditions over the
belt were less favorable and many dreary
reports as to the condition of the crop
were Forthcoming. Locals sold on
the bulges but the better commission
house buying witnessed finally forced
shorts to cover
oats trailed other grains up and down
within ", IN, narrow narrow range and closed on a
was moderate. with the basis unchanged
to l5c lower.
Rye experienced several erratic cwings
for this grain us let up considerably and
the northwest is shipping rye this way.
Provisions were irregular at the close.
Lard was 2iae higher to 7Ac lower and
ribs were 10 TO 12Rc up. =.
The primary movement of wheat con-
ipues II harvest rate. The spring run
specially is large and apparently will
herwdst or fodSy 's sneduaS Tse Ps
duced the premiums No. l northern
from l0i2c over the December to IL. c
az Minneapolis compared with Chicago
began to worry many in the trade who
oiherwlae feel friendly to. the buying side.
oi grain from the farms of the north
west is that farmers possibly figure there
IS some thing back of the talk that repub-
'ican money is keeping values up and
consequently are marketing much
sra,n as possible prior to election. not
cxplanation however. is not given a
great amount Of credence.
The american spring wheat harvest
IN that part of the country were hard
hit in 1929. and with conditions the re-
verse now they are rapidly paying off
debts and accommodating cash. 1t is safe
10 say, however, that this liberal run OF
grain from the farms cannot remain>> at
such unprecedented volume much longer.
AZ is customary at this season the
worlds available supply is increasing.
kFor the week the increase was 10. 906, 900
bushels against 1884, 1000 bushels last
yenr. The movement of grain in North
Nmerica is much larger than this time
last year and the fact that supplies are
not gaining proportionateiy indicates that
the grain is going into consumption un-
usually fast. The total world supply now
Is placed al 20i 900 bushels. compared
WITH 1873, $50, 900 bushels last year. Broom
nau allows for world carryover of 6i.-
900, 600 bushels this season against 304-
600 900 bushels in 1928.
CHIEAEn DRIEEa