Omaha daily bee., 1902-03-27
COMMERCIAL AND FINANCIAL
Bulls Stimulate Market and Force
Prices Up.
PROVISIONS COMMAND HIGHER PRICES
Crop Damage Reports and short Har-
vest Announcement from okla
homa aud Kansas Aid Better
Prices in All trains.

CHICAGO, March 26.-Bullish manipula.
tons by spectators in all the pits OF the
Board OF Trade aided somewhat pX dam
strong and active markets May. wheat
closed sc higher, May corn lac advanced
and May oats &c. up. Provisions closed
7ha1Oc to 22lac higher.
Corn strength easily ruled all grains and
the corn pit led, in activity. AZ the start
prices here yesterday. There was some
early selling on wheat influence, but soon
there started a bull movement in July
corn that caused a sharp upturn in all
corn options. There was some talk OF a
bull campaign to be worked IN July corn
to IL. Next In importance to this factor OF
the corn advance, which was augmented by
an Improvement in the cash corn situation,
was the upturn in wheat resultant from
crop damage in the winter wheat country.
Local bulls started buying freely. commits,
sion houses followed suit and bears covered
literally. There was also some export busi-
ness reported, which had its bullish In
huence. The sentiment seemed to change
entirely and nearly every trader wanted
stun: May corn opened sqAc to &c higher
at 5Shc to 5shg5S%c,, eased to 5Sha5s%c, on
spurted TO 5s7kc. Some of the advance was
lost, but It was solely due to the willing
profits. May closed strong, lac higher, at
b9ka59tc. Receipts were ia cars.
Aside from the corn influence. wheat had
good reasons of Its own to advance prices:
Opening conditions, such as cables and
small RECEIPTS worked fer fair early ado
XaUCp9. but the 'CTOD Killer once more
became an active factor. True, there were
bearish Influences at work early in rain
reports and news of general spring wheat
seeding. But the good weather lost It's
effect when word was received from the
president Of the Kansas and Oklahoma
Kansas would harvest only 80 per cent and
Oklahoma only 40 per cent of a crop. OF
late crop damage reports have had little
Now, however, II seems that traders con-
slider the growth of the plants so far ad-
yanced that. where farmers report t me
Is given. Today's reports started a good
advance, which was met by liberal offer
ings. Then some of the big men bought,
corn exerted its influence and shorts COW
cred, sending prices up. Some proft-taking
the advance, but throughout the session
the tone was excellent. May started Nc
to &c higher at 721ec to 72Bc, eased to
73kc. The close was firm, May SO higher,
at 12Ac. Local receipts were 30 cars. none
of contract grade, and Minneapolis and
Duluth reported 1853 cars, or a total for the
three points of 1888 cars, against 290 last
week and 3S1 a year ago. Primary re.
last year. Seaboard c~learances in wheat and
flour equaled 1900 bu. The export de-
mand was slack, the seaboard reporting
There was only a moderate trade in oats,
but the tone ruled firm, with other grains.
though offerings were never on 4 large
scale. July and September were In better
demand than May options, In the latter
month there was some early weaknes on
an absence of demand. The farther months
felt the strength Of corn and wheat more
than May. Although favorable weather
for oats was a good bearish argument, the
corn strength o%verbalanced It and the short
side was not popular. The tone of the
market was helped by the news that Kan
sas City bids at the river were 1sc over
C~hicago's best bid on No. 3 white. May
sold as low as 42c. advanced to 43Lc and
closed firm. Ac up, at 42Ac. Receipts were
SS cars.
Covering of large short lines of pork
was the principal bull factor in provisions.
At the outset the same strong feeling that
existed last week showed itself again, hogs
were commanding better prices at the
yards and there was a good speculative
demand for everything on the list. OFFER
ings were very small and the continent
was reported bidding. Trading was heavier
than usual in all lines. Commission houses
bought freely for packers and bulls took
lard and ribs. After a firm opening, prices
advanced sharply, May pork gaining at one
time 37hc. Proft-taking late reduced the
gains. May pork closed 221kc up at $16.15,
May lard nha1oc higher at SS.7O99.721A and
May ribs 10c advanced at S.S21z.
Estimated receipts for tomorrow: Wheat,
% cars; corn. 100 cars; oats. rs cars; hogs,
1000 head.
The leading futures ranged as follows: