Omaha daily bee., 1901-02-20
COMMERCIAL and FINANCIAL
Com MARKET sturdily Rssisa Profit TAX
Ing Movement Today.
MYSTERIOUS STRENGTH PEayApss WHEAT
Oats Close Unchanged and Market is
Dull, with Large Receipts-Provi-
sions Recover from slight De-
preston of Yesterday.

CHICAGO, Feb ie.-The corn market
sturdily resisted a prolt-taking movement
today and closed with the May option only
a shade lower. Wheat showed a somewhat
mysterious strength and closed Mt an ad-
vance of i699so for May. oats closed un-
changed and provisions 2i9o lower TO 2}sc
higher.
The corn market was animated, holding
fast to its recently acquired position as
leader of the Board Of Trade speculative
attractions. The liquldatlng movement
which began I'm force yesterday was con-
tinued, and while the volume OF business
was smaller It was still sufficiently heavy
to draw attention from all over the floor
The crowd. encouraged by lighter country
offerings, small contract stocks, and above
all by the stubbornness with whicn the
price had yielded in the face OF Immense
sales by longs, was optimistic and absorbed
all offerings in cheerful confidence that the
high price OF tho crop had not yet been
higher at 40hg4Ol9c. Offerings were taken
readily and the price soon touched IOtsc.
Here tie selling pressure became % heavier i,
market steadied and for considerable
period i was q game game Of give and take tSke be- be-
market strong. May only a shade lower 1T
40i4fD40kc. Receipts were $40 cars, of con-
tract grade; Corn equal to contract re-
Quirements here amounts to only 5i2,U0 bu.
Local sales were 100000 bu., while exporters
reported IS loads taken for foreign ship
ment
A degree OF mysterious strength per
meated the wheat market. The best buy
ers-and the market was a dull one-were
owners OF elevators This occurring during
q month when elevator people aro gem
orally selling futures against their low
grade wheat stimulated covering. but the
trade was generally I'm small lots. May
opened q shade TO lsnhc higher. The
market was run up to 75asa75lac during the
forepart of the session. The announcement
of an increase of $4,000 bu. I'm the worlds
visible supply caused a brief suspension of
buying, but toward the end of the session
the market rallied again and closed strong
at the top, May is@9sc higher at 75&sc. EX-
other side, while seabOard clearanc"s in
wheat and -four aggregated 2W,OOO bu.
Local receipts were 16 cars. of contract
grade, and the aggregate receipts at Mlnne-
apolis and Duluth were 367 cars, against Az
a year ago. Total receipts at primary
western points were 426,OO0 bu., compared
with $4,000 bu. the corresponding day last
year Gables were steady.
oats were dull. Receipts here were 81
cars. the largest in some time, and a mod
crate amount Of selling by elevators was
thereby occasioned. This was well taken,
however May sold between 252sc and 25lac
and closed unchanged at 25Rc.
Provisions recovered from n slight de-
preston which was left over yesterday.
Hog receipts were heavy and this had a
weakening effect early, but this was Offset
later by u good cash demand. May. pork
closed 2lsc lower ut sli; May lard 2l2c
higher at s7.45, and May ribs 2l2c up at
S7S
Estimated receipts tomorrow: Wheat. IS
cars; corn, 270 cars; oats, 1Sj cars; hogs 3S,-
OO head
The leading futures ranged as follows: