Omaha daily bee., 1883-05-14
THE WEEK ON CHANGE.
A Feeling Of Uncertainty and
Expectancy Prevalent,
The Probable Shortage in
Wheat and It's Effect.

CHICAGO, ILL.,, May 12.-Herald
Speclsi. The week has been q dull
one on the board of trade. Only by
apurts has much activity beenumsni-
tested. Neither the bulls nor bears
were, RS n rule, anxious to trade
heavily. 1t has been a time of walt.
Ing and expectancy. The irresistible
otrenght which upheld the grain mar
kets short time ago, when the scare
ovor the predicted failure of the win
ter wheat crop was at its height and
everybody wal a bull, departed, and
feeling of uncertainty succeeded.
The May report of the national de-
psrtment Of agriculture was auxiously
awaited, and attempts were made to
gain an insight INFO Its stu before
Its issuance, Operators held aloof
until Its appearance before venturing
far either way, hence the busi-
meas of the week was linn
tied. The report was sntici-
psted by the larger traders who keep
we'll Informed of the condition of the
crops through their correspondents in
all parts of the country. Early inthe
week strong houses were advising their
customers to sell May wheat, and had
pretty we'll evened up their own dealr.
Juue wheat was likewise unloaded,
and their purchases have been largely
In the longer futures. July has been
debstable ground, there being plenty
both OF buyers and sellers. The crowd
Is much more bearish than q week ago,
as was early seen In the slight effect
of the dolorous report of the Illinois
bureau Ct agriculture, which an
nounoed o loss of 40 per cent. of the
winter crop, oil falling off
In the yield In this stsse
alone of 80, 000, COO bushels. This
Ia believed here to be exaggerated.
Tho bureau commences gathering It's
data at the beginning of the month,
and tho outlook to-day Is more en-
c%oursging. But conceeding a defc-
lency 100, COG. 900 in the wheat crop
of the country, and this is a large
estimate when we consider that there
Is no reason to expect much If any
less than the average yield of spring
spring wheat, there certainly can be
no shortage, say the bears, when the
surplus of the last harvest will nearly
equal this figure The foreign de.
mand Is small, and no betterment Is
promised for some time to come; very
little wheat Is being consumed by mil.
lers, who are Ida through an over.
production Of -four, and cash wheat Is
acknowledged to be dear at present
values. From all sections 1t Is re.
ported that large areas own to winter
wheat, reckoned as a failure, tre. re-
sown to spring, and the acre.
age In the northwest Is largely
increased, which Is another mat
ter to be taken into consideration.
Corn Is an inoonsequential cereal
this time of year. 1t follows the lead
ing market In it's variations, but just
at present acquires a little individuals
ty from the heavy rains throughout
the country, which have not only
checked the not yet completed seeding,
but will, 1. is feared, ro' the seed al.
ready planted. There has been wide.
spread complaint that much of the
corn reserved for sowing was In bad
condition, lacking Vitality, and not
able to stand any strain.
A number of wealthy operators have
bought corn during the week ia con
siderable quantities and this has giver
the market some steadiness.
Oats have ruled quiet and there has
been little of interest in the trade
Rye has not fully maintained last last
weeks sharp advance. The clique
lately manipulating this grain 1,
thought to have sold out. Barley Ii
nearly lifele,s.
Provisions have maintained con-
siderable steadiness. The situation
of the market Ia exactly the same as
week ago. The production is email
and there are plenty who believe II
future high prices.
Lake freights are badly demoralized
rates to Buffalo being ct, for oats ant
~ for corn.