Omaha daily bee., 1902-04-25
COMMERCIAL AND FINANCIAL
Grain Prices Lose Hold and Liquidation
Order Of Day.
PROVISIONS ALONE ARE BUOYEO UP
Longs L~ooseninE and KRnsaS Rains
Have Disastrous Eject on Cereal
values, but strength Displayed
in Provision Pit.

CHICAGO, April 24-Bulls in the grain
pits changed front today and bears came
L for a share of the profits. AFTER Nester-
days remarkable advance Of dry weather
a dusty weather map started prices urn,
but rains ,bS o brought ~ t + sc Say. aP P1,c nsus siipped
down badly, May wheat closing lRqi9bc
lower, May corn 1Itc depressed and May
oats lac on. Provisions were firm and
closed &c to 5dfhc higher.
Dry weather being the cause OF yester,
days wheat splurge, It was but natural
wheat belt should influence rapid changes
In sentiment on the part OF the buils.
There was plenty Of bull neT ,soEa5des
large and crop damage reports came IN
abundance. The morning weather report
showed the wheat fields as dry as finder.
Selling started early, merely for profits by
the longs, who had accumulated stun at
low prices. This eased the market some
THAT, but when the rain reports from
Kansas arrived selling. was general. Inc
outside markets l~iquidating. freely, es-
pecially ST. Louis, which sold very heavily
and slumped. Before there was any ces-
sation OF the heavy pressure on the market
here prices had slipped down almost &c,
Late In the day there was fair covering
May wheat opened unchanged to nc lower
at 767sc to 7eSc and fell TO 75g75ltc., closing
weak. 1M@1%c down at 15hq75Bc. Re-
ceipts, twenty-nine cars. one contract;
Minneapolis and Duluth reported l9 cars,
a total for the three points of 1913, against
27 last week and $50 a year ago. Primary
receipts were $4,000 bushels, compared
with 3g4,O a year ago. Seaboard clear
ances equaled 49, 900 bushels.
Sympathy with the wheat break was
enough to start corn down hill, but the
big bull crowd, which bought heavily OF
July yesterday, turned sellers and induced
q bad slump. Sentiment was changed
somewhat on general news. ountr offer
ings were larger, the southwest sold and
was weak and reports had II that the new
crop was starting we'll. An increased
acreage also was reported in the north
west. Leading interests did a good buying
business as prices declined, but the pit
closed very weak and almost at the bot
tom. July was the weake option. Com
mission houses were on both sides of the
market, but favored selling. May opened
firm cables and the early weather reports,
slumped to 6Slsc and closed weak, 1hc
lower at 63kc. Receipts, IS cars.
Oats suffered with the other grains,
Southwest rains and freer country offerings
induced liberal selling and, though packers
held prices up for a time, declines ensued.
The trade was on a liberal scale. May sold
from 4f12c down to 4c and closed weak,
1Ac Off at 43hc. Receipts, 1877 cars.
There was an active scramble to buy hog
products at the opening, because of a light
the best buyers and forced prices up. later
the same interests unloaded for good
prohts and. as grains weakened and offer
inEs became liberal, some of the early
gains were lost. The close. however, was
RIM. July pork closed 21zc up at S17.02hs,
7hc up at $10.O0ql0. O21s, and July ribs 2b6
DC higher at $9,40d9. 42h.
Estimated receipts tomorrow: Wheat
80 cars corn 100 cars; oats, 1855 cars; hogs,
The leading futures ranged as follows: