Omaha daily bee., 1902-05-15
COMMERCIAL AND FINANCIAL
Corn shuns Weakness in Other Grains and
Closes Up,
NO ABATEMENT IN PROVISIONAL ADVANCE
HOG Products Supported and Make
Clean Gains, while wheat and
oats succumb 90 Bearish Fac
tors and Drop On.

CHICAGO. May 14-Grain trade today
was a dragging contest between the bears,
and corn, and the bulls in the corn pit,
who we're making good purchases on the
extremely small local movement. In the
end July wheat closed &c depressed, July
corn &C higher and July oats hd%c lower.
Provisions continue in their upward jour
ney and closed i0c to 12hc advanced.
wheat pit today showed that they had for
gotten all about yesterdays bullish gov
response to strength here and above all
the weather was very favorable. Rain
fell copiously in Kansas and Nebraska and
ing A local statistician mad a report In
dicating a winter yield of 4l0,0O0,000 bu.,
quite at variance with the government esti-
mate yesterday. These factors started July
q shade to %@hc lower at 1870 to 76c and
depressed II early to 15%q7b%c. Corn
strength and reports Of good Gosh business
brought g good reaction and pt'res for a
time held firm near last nights close.
Trade, however, was light, the outside
speculator was not in the market and there
ers. Part of the reaction wRs due TO short
covering. Gradually prices slipped back,
noticeably weaker and materially widened
their spreads under July. The close was
weak, with July &c o, lower at 751tY7S%S
tract grade, and Minneapolis and Duluth
reported LA cars, making a total for the
and los a year ago. Primary receipts were
ls,O O0 bu.. against 326,OOO last year. Sea-
board clarances In wheat and flour equalled
1850 blu. The seaboard reported 10 loads
Corn was the leader Of the pits in the
matter of strength. Weather was favor
able and there were reports that the coun-
krJ would soon begin making frecr de-
~liveries. Small receipts, however, seemed
to reject this report, for the general run
OF cars has gotten down to about twenty
Ave for this point. Receipts today were
only "a cars and at once Influenced early
buying. Several of the leading houses be-
gan in offerings that were made out of
soon as the crowd saw the stun was going
into strong hands shorts covered and fair
activity resulted. Cash business was good,
st. Louis bought here and cables were firm
strength, and July. which sold early at
took on some Of the gain and wheat weak:
ness had a depressing effect. July closed
Oats were Influenced by selling by the
leading bull operators. Crop advicee noted
fields in Texas, but in general there was no
change in the situation. Liberal cash sales
were made for shipment and corn strength
gave some aid to an otherwise weak mar
July closed weak, hd%c lower, at $3.50
SIC. Receipts were small at Sc cars.
The strength In provisions was that OF
renewed buying and support by packers,
supported by a strong hog market at the
yards. There was still talk of a decided
upturn in lard and a leading house bought
rather free on the advance, but the market
ruled strong and higher. July pork closed
121hc up at $3.50, July lard l0c higher at
$lo42h410;45 and July ribs loo advanced at
Estimated receipts for tomorrow: Wheat.
Is cars; corn, % cars; bats, 105 cars; hogs,
10000 head.
The leading futures ranged as follows: