Omaha daily bee., 1902-03-25
COMMERCIAL AND FINANCIAL
Grains Take Upward Turn and Close
Higher,
BULLS FIGHT HARD FOR U-RENACY
Marked Animation In All Pits and
Leaders Gain Back Some of sntUr-
days LOsses-Provisions EH-
perience Phenomena Raise.

CHICAGO, March 2L-There was marked
activity and nervousness in all markets on
the Board Of Trade today. Trading was on
an enormous scale and bears and bulls
fought with tenacity to gain control OF the
The day, but in the end the argument that
q weak market must give way 70 an up
turn movement won out ana May WngHaSI
higher and May oats nc advanced. IT0-
visions once more acted INDEPENDENTS
strong and closed 2pu221zc to Doc higher.
Corn had the largest trade that II mas
experienced for many days. Speculauon
was mixed and nervous and the pit at az
times was crowded with traders Cohul-
lions early tended toward a still weaker
market. Rains and warmer weather were
reported over the greater part of the west;
Grass growing was reported very hopeful
and this of necessity did away with the
strength due to the need for feeding corn;
Wheat was also weak at the start and
both the local receipts and the estimated
receipts for tomorrow were increased. Inc
LIVERPOOL cables started somewhat lower,
but declined as the day passed and fully
reflected our Under these IN
fuences corn was sold in large lots. ,Liqui-
dalton for the country was renewed on. a
large scale and May huctuated .eNcitedly.
This option started nc lower to 1sc higher
at 577sa5SAc, reacted to 5Ssc on covering
side and then plunged down again TO bflRc
on the continued heavy selling. For some
market was going. Commission houses
had orders both ways. Gradually the mar
kPt got on a new KTOunus IIdltIH btEhu
to feel that at the present lower prices
trade would be more active and buying
began to predominant. Commission houses
toward the end OF the session turned the
scale toward the bull side, shorts con-
tinued to cover heavily for profits and May
worked up sharply to 5SAc. outside buying
orders increased in the face of weaker
foreign markets. May closed with a firm
tone, hd1sc higher at 5Sha5SAc. Receipts
There was continued heavy liquidation in
wheat at the opening on the strength OF the
portion of the winter wheat country had
received its share of rainfall and every
thing favored crop growing. Statistics
in a guessing mood. The seaboard reported
additional, export sales Saturday and 10
clined to the belief that there should be a
natural reaction after Saturdays extreme
weakness and shorts sought cover In large
numbers. Cables were weaker, but not
enough so to make bulls apprehensive. The
general situation had changed little, but
big local traders and commission houses
were inclined to the buying side on the
argument that wheat was ON a new basis
and would see marked, activity. Trade in
general was heavy and the tone for some
time nervous. In the end the buying side
showed the most strength. May opened II
@Ac lower at uB97l&C, dipped to 719sc on
tuated ~nervously for a time, Sold up to
72hc and closed firm, Aa7sc higher at 72A
contract grade; Minneapolis and Duluth re-
ported 513 cars, making a total for the
three points OF Ol cars, dBdllSI OIS ldSl
week and Ill a year ago. Primary re-
ceipts were 5000 bushels, compared to 1885,
900 bushels last year. Seaboard clearances
in wheat and flour equaled $4,000 bushels;
the worlds shipments were 1890 bushels,
against 5,27S,O0O bushels last week and 1851
600 bushels a year ago. on passage stun
increased 2,ll2,OOO bushels. The visible
supply decreased 100000 bushels.
Trade in oats was not important. Action
was inclined to follow after all leading
grains. May was weak at times, but on
any demands prices advanced again. July
and September options were very steady in
the face of the grain weakness. On the
corn strength and lighter pit offerings after
the first selling rush prices showed a fair
opening, but closed &c up at 42iRc. Re-
ceipts showed a little Improvement at 126
cars.
Provisions felt some effect from the
weakness in grains and an easy hog mar
ket early in the day. Prices at the opening
were off a little, but there soon sprang up
a good commission house demand, sup
posed to be for packers. The cash business
was much improved and on the very urgent
demand there was little stuff for sale here.
May pork sold from $3.50 to Sl6 and closed
strong. 35c higher at $l5.95; May lard sold
from S9.47k to 50 and closed 20a22lRc up at
that figure, and May ribs sold from SS.57I5
20 $3.50, and closed 2Oa22lsc higher at SS.771R
dS.S0.
Estimated receipts for tomorrow: Wheat,
90 cars; corn, 1856 cars; oats, 1856 cars; hogs,
%, 200 head.
The leading futures ranged as follows: