The Omaha morning bee., 1925-03-03
Wheat Swings to
81, Then Drops to
Close 3 Cents Off
Rlackboards Fall Behind Quo
tations in Wave of Specu-
latiyc Buying; Corn
Strong.
by CHARIES J. LEYDEN.
UTnIyersaI ServIce Staff (orresDOudeut.

Chicago March "A wave OF speeula-
tive buying swept wheat futures rapidly
May delivery reaching s2.o2 and the July
t1.74h, n new high on the crop. Later
market swung back irregulsrly. Gains
in the active months were more than
wiped out with the close at bottom
Wheat finished &c lower 10 isc higher
corn was i3c Ia Ae down. oats were 4 c
10 l sc lower and rye ruled 2lsc 10 4lae
Ths decrease In The United States
wheat visible was not as large as eN-
peeted. and with export trade moderate
and the Liverpool market somewhat in
different 10 the buoyancy in North Amer
lea tho last few days holders sold freely.
There was enough support rendered on
the dips TO make the wheat swings un-
usually erratic. Volume of trade was
the largest In some time
The seaboard confirmed export sales Of
around 200; 900 bushels worked over the
March and April shipments we're reported
cancelled Liverpool closed Id higher.
Corn displayed strong tone most Of
last. Absorption by bulish interests was
active. but there was free selling by longs
the ssd spo %a 400 ss Of eoo
bushels as of March L. this comparing
with 1,1bs,ooo.0o bushels year ago.
slon but finally eased with other grains
The visible supply decreased 1,bs4.oo0
bushels.
Reports that foreigners were canceling
and an increase of 5000 bushels in the
visible supply led to free selling OF rye
by longs after the early bulge and the
close weak.
Provisions closed firm. Lard was 7hc
TO ioc higher and ribs were 22ho to
Pit Notes.
Flnctustlons in the wheat pit were
were behind in quotations at intervals
during the fore part Of the session. Out
side buying was broad during the first
hn f.t n fAIl tha
advances. Much Of the selling of wheat
later in the session was credited to local
taking profits. Winnipeg showed rels-
lively steady undertonc compared With
Chicago at the last
Private experts issued their reports on
farm reserves and they came as expect
ed Stocks OF wheat on the farms we're
country mills and elevators and on the
farms estimated at 100000. 600 to 27e.
B w. Snow; crop expert. were sensa.
tionslly builish as to the amount OF
wheat left for export and carry over.
from March to June 30 would total
$4,000, 900 bushels. and after allowing
ments. estimated that SO, oGo 900 bushels
OF wheat remained in all positions of
March for export and carry over. The
by the trade. The domestic visible supply
for the week decreased i,sls.ooo bnshel,
fnd tOtaIs fN.bff.UOU Duenels. compared
With G4.O72. 900 bushels a year ago.
Tho supply OF wheat and flour on the
ocean for the week increased $3.50. 900
bushels The gain was much smaller
than looked for. In view of the heavy
world shipments. The previous week.
when world shipments totaled 1898 900
bushels, stocks on the ocean increased
IL. 600, 900 bushels. Last weeks world
shipments were about large. totaling
1s.SJt. 900 bushels 1t In apparent that
Europe is consuming tho great bulk of
the wheat headed that way and this
suggests a sustained foreign demand In
tho world market
CHICAGO PRICES.
Nv IfndILa Grain Co Atlanta AL