Omaha daily bee., 1902-03-30
WEEK IN THE GRAIN MARKETS
Pit Conditions Source of Discomfort
20 specuIators who Rely on
Statistics.

WHEAT-Statlstics are often ar fault
ana a bad thtng to pin ones faith to, as
the outcome doesn't always bear fruit in
proportion to the faith put in them, The
pit conditions of great exchanges of the
world are also another source Of discom-
tort TO the Spectator who bases his opin-
ION on statisticians, and again his eye sight
Is a little at fault in looking too closely
az the conditions Immediately surrounding
MIN and ignoring other conditions, where
the surprises are often in store. Wheat
has had a severe decline. VIII 1t go lower
still is only guesswork. We shall ignore
hsures in this letter as to visible supply,
shipments, receipts, etc. You have had
enough statistics for the present-look now
to future outlook. Local traders have for
several days felt that a reaction was due
ana nave been disposed to keep in that di-
reGtion and for a while success seemed GER
tain; A good help toward lifting the mar
ket mas been the persistent claims of dam
age to the growing crops in parts of kan
sas and Oklahoma. TO those well ac-
qualnted with the wheat plant it certainly
looks better now than at any time and has
All parts OF the country show al unusual
pronlse or a large acreage. Coplous rains
Wei prepared to receive such rains, thus
lnsurlng an early seeding and a ine start.
From the west and southwest come reports
70 the railroads for specia! rates for 20,0OO
harNeSters and 500 teams to take care or
harvest In Europe and other wheat
producing countries crops are everywhere
good. We are now arrived at the opening
OF navigation, with large stocks and a
tainty that the large Manitoba supplies
Will crowd forward and trouble us. These
are only a few factors. With existing
conditions any advance in wheat can be
but temporary.
CORN-The action of corn is a puzzle.
On the. theory OF a very short crop, the
price of corn has for months ruled abnor-
all foreign demand.
IL has curtailed sun at home. 1t
has taught economy on the farms, such as
SELDOM has been witnessed and filled the
farmers minds to a hold your CROP IL
Is now talk of threatened manipulation of
July option, and while IL is not credited,
Will carried out for a time, cause a con-
gested market and only serve to still fur
ther reduce the consumptive demand.
Inc result OF above facts is that sooner
or later 1t will cut like a two-edged sword.
plies from the farms for a still larger
period than has been expected, and by
sun further reducing the demand.
Oats-Let May oats alone-neyer mon
Key with a buzz saw" But simply because
May oats are in such a condition, does not
gustl1y the same opinion In regard to more
distant futures.
1t only takes ninety days to raise a crop
OF oats. There has always been a heavy
run in July. Think by then we shall have
plenty to go around and lots to spare, to
be used for shoe pegs If desired.
Provisions-lt is a packers market, and
they are taking. everything in sight, and
higher. Hogs are higher now than when
pork was selling at ST per barrel. While
we seem to be very pessimistic we are
only giving you actual facts-the present
and the present outlook. Things change
In the "~,twinkling of an eye" and the un-
expected always happens in the speculative
WEApr CcNrN1rCSrONy m