Evening star., 1942-06-21
Grain Market Shows
Moderate Recovery
After Setback
Wheat Prices Steudied
By Short Covering
And Mill Orders
Ry the Associated Press.

~ INT ASsOCldbSu rTess.
CHICAGO, June 20.-The grain
market steadied today. recovering
its equilibrium after yesterdays re-
treat.
Wheat was up about "a cent at
one time and of "a to ss later, clos
ing unchanged to q higher COM
pared with yesterday, July $1.l91s,
September $121%-5s.
Other grains followed the action
of wheat, although oats fell as much
as Nh cent at one time, due part
ly to hedging sales in connection
with the new crop movement. July
soybeans also we're of about cent
due to liquidation prior to the de-
livery period and to tagging demand
for meal Buying attributed partly
to professors lifted rye.
Corn closed unchanged to Is
higher, July 86%, September 891s-
u; oats A-Ss off; soybeans s,
lower to u higher: rye ~ higher.
Excessive Rains Feared.
Buying which steadied wheat was
credited to dealers covering previous
short sales and mills. Increasing
concern about too much rain in har-
vest sections Southwest and in some
other grain producing areas prompt
ed support. Better weather was re-
ported in the Southwest, however
Brokers said the war situation prob
ably was cause for some nervousness
while hedging sales were appearing
in connection with the new wheat
movement, although most of the
crop apparently is being stored for
Government loans since rates. art
we'll above prices farmers can obtain
at market.
Fear was expressed that a wet
harvest may result in increased
quantities of low grade wheat not
eligible for loans coming on the
market. However, possibility of low
cred yield and quality has stimu-
lated more friendly attitude toward
good milling wheat on the part Of
professors, as well as dealers who
showed more inclination to hold old
stocks.
Protein Content Low.
One survey said early returns
showed yield is high but relatively
low in protein. AS more grain comes
to market wider variation in grad
ing has appeared. Many dealers be-
lieve average protein content for the
Western belt as a whole may no
equal that Of the past two years.
Spot oats were unchanged to II
cent lower and soybeans 14-1a lower
Dealers booked 10000 bushels each
of oats and soybeans to arrive here
from country points but purchases
of corn fell of sharply to only 1,50C
bushels. Shipping sales were linn
tied to 10000 bushels of corn and
10000 oats.
Grain range at principal markets
today:
JULY wHEHhL HjSh: Low, Close. Pr. Close
ShIssso chi, n. 1.fsH 1.1ss 1,1sn 1.1;sn-7i
Rss;;.; kis: Rsss:: ", ' I'll til: ifs & * !s5
SEPTEMBER WHEAT
Chicago 1.21L 1.21A 1.21ss 1.21 h-sl
inpolis 1.l4h LA 1.14ta 1.14h
Kans. City LA 1.13A 1.13A 1.13s4
DECEMBER WHEAT
chicaso Ie5h I.e4% 1e5 1e4H
Min polls 1.17h III 111l7 LIZ
Kans. City 116ss 1.16ss
sss: $s:s e., s0ss :g" :s ss :sa ss,:
chicago A' .sels 'ssa. .san .sa:ssH
AanS JULY S''e oATs%" 50" ''oa 90" '''''
CHICAGO 4s. 4s .4sA .4ss..
Min'polis .44ss .437s .44ss .44ss
winnipeg STA .5lh
CHICAGO Cash Market.
Cash wheat prices were UNCHANGED ant
basis was unchanged today; receipts, 4
cars. Corn prices and basis unclaimed
receipts, 139 cars; shipping sales, 10000
bushels; bookings 1,50O bushels Oats
unchanged to "a lower; basis unchanged
TO hrm; receipts, % cars shipping sales
10000 bushels; bookings, 10000 bushels