Omaha daily bee., 1883-04-09
COMING CROPS.

hands, $50. to 76.
COMING CROPS.
The Aspect Of Winter Wheat Isl
Changed for the Better.
Review of the Grain Market for
the Past Week.
CHICAGO, April 7-[Herald spec
ial Tho week juet closed has
put a much more favorable aspect
on the condition of tho winter wheat
crop, aud materially changed the views
of legitimate dealers and spectators in
cereals. 1t Is now conceded that the
prospects are favorable for n harvest
not nearly 81 much below the average
as has been calculated on, and values
have changed accordingly. Some sec.
lions have undoubtedly suffered severe.
ly. In the southern belt the loss
through tho extreme winter and the
drouth succeeding, Is 10 reokoned at
20 to 90 per cent. Secretary Smith OF
of the California state board of agricul-
ture estimates a yield of 30 per cent,
for the Pacific slope.
la all parts of the country q more
encouraging idea of the situation lie
current than was o week ago. Tbi.
fact co operative olrcu instances have
Induced a sharp In prices on change
here, starting on Wednesday with a
tumble of two cents q bu,hel, followed
by q feeling Of weakness and continued
e~asiness, until at last It seems to be
believed that for the present, at least,
the bottom has been reached. The
weather has also favored the fears,
while the English market has been
weak and depressed under heavy ar.
rivals, Of which, It IL inoidently mem
iioned, only about IA per cent, 10
American wheat, sho wing that Yves.
tern Europe Is comparatively indepen.
dent of the United States on the food
question.
When prices weakened millions of
bushels OF long wheat we're thrown on
the market. Lester & Co., Rumsey
Bros, and others of the staunches,
bulls, began unloading. This started
the crowd, aud many who had held or
for 9 long time, hoping for q reaction,
became discouraged and closed ouI
their deals before their lesses were
greater. Margins on hundreds Of
small lots we're exhausted and thu
trades cleared out, thus adding to The
offerings and increasing the downward
tendency. Shorts who were Satisfied
with theawinnings already accrued t.
them weie the principal buyers
the outside orders being small
I It has been rumored tina
TeumAn b. Handy, the kips
/; manipulator, had concluded tha'
/. prices were now low enough to war
, rant o oorner in May wheat, and wal
working with that end In view. Mr.
Handy states that he still believer
) wheat too high; that there is no con
sumption ct present prices and can b,
j none. It will have to 60 yet lower
he says, for the Elropeon oountrie
have ample supplies, and there 10 onl,
n Q limited demand for the immens
!, stores of grain now In sight. An,
clique which attempts to manipulat
wheat must buy at the outset sevel
! and . half million bushels In stor
= here, and that Il bat the first ster
When the January corner was RI
there wal but three and q half millic
bushels in Chicago elevators.
y Nothing IL doing In the a our trade
nor will there be while prices az
~here they are. Even when concel
siops of 80 cents were granted fe'
purchasers were to be found. TIL
N market Is over supplied, and the d.
mand must DO allowed to catch ur
ID which must be the case soon II th
mills continue their present low rat
production. Stocks are kept ligt
4 here, notwithstanding the absence {
0; business, tho receipts little exceedin
the local consumption.
n With wheat have followed the otht
. food markets. Corn has had especi,
. cause for weakness In the unu 'ual II
crease in tho accumulation here, I
which was added 700, 900 bushels lal
week, and probably 10 much more tn
al week. Large arrivals from 81, Louisal
O; said to be part OF a consignment
i, 500 600 bushels ordered here frol
elevators where there are three mi
O. !; lion bushels ready to come. Ninet
G; per cent of this is grading No. 2, an
.; the percentage of all receipts no
" graded has increased to 60. Snit
x and Mccormick and Nichols & G
have unloaded large amounts f.
western parties and the p,incip
brokers have been sellers. TIE bret
o in prices has been 81 fiji ,ient to ha'
y caused q panic Ia the old days
:" Gig les and May, heretofo
2, the favorite option, has been dropp,
st and Is selling three cents under Jul
70 When 1t touched 54A,, however,
=, found a good many buyers who saw
profit In 1t at that figure. The Quito,
for higher prices Is not good, the
ne being little shippieg demand, foreil
Il, markets ruling easier, and Kansas,
= we'll "a Missouri holders pressing sal
beyond the demand.
3. Oats have been cheaper owing
0 Information that the principal lon
0l have sold out and abandoned the
@ ,rner yet shows more strength tn,
v other grains,
~ Rye and barley are dull with veI
80 little demand, tho former being shad'
. to suit buyers, but barley holdir
rather frm.
=, . Provisions are suffering from ii