Omaha daily bee., 1902-06-03
COMMERCIAL AND FINANCIAL
Corn Bulls Obstinate to Bearish Tendency
i and Strengthen Pit.
GRAIN AND PROVISIONS RECORD GAIN
Opening weak in All Pits, but Sup
port OF Corn Acts as Incentive
10 Firm Tone in other
IT, Lines.

. CHICAGO, June 2.-Bulls on corn were
very spunky today. Under very dlscour-
aging circumstance they bought heavily
and turned a weak market strong. Wheat
tWae helped some by the hrmnes OF coarse
e. aims and recovered from early losses.
AT the close July wheat gained a shade,
July corn gained Iai1sc and July oats
were &c up. Provisions closed &c to ma
Everything at the start worked against
better corn prices. Wheat was weak, the
short session at Liverpool resulted In
of corn and promised 500 for tomorrow
and the crowd was bearish. A dun mar,
July started %0ssc. down at Gle to 6%c
and lowered around the low prices for a
time. Bears. who had the market al
their own way for three successive days,
lpluoked up courage and began selling sun
Further short, when suddenly the Dig pull
July stuff started in to the support. Prices
steadied from the decline and soon the
shorts began to cover. The support was
wanted to buy, and the pit became a scene
of a s~emi-panic. July corn jumped 2Oc
to csc and shorts were badly pinehe1r
feeling and at the close July was 1qlfsc
up at 62Ss@6212c. Country ac~ceptances were
bull movement. Kansas City was a de-
pressing influence, being 2isc down on July
and &c down on September. Good crop
reports prevented a great many OF the
small bulls from buying.
Wheat was helped materially by the
s5iittieannsst In IA wheat neat we're very bearish early
in the day. The general sentiment favored
selling, in spite of the fact that there had
been good declines for three days. Yet
cables were weak. the southwest sold on
its good weather and general report of
Forcing weather everywhere after heavy
rains, commission houses were sellers and
the crowd naturally followed suit. Sep
TENDER soon began to pluck up strength
on buying by spreaders who sold July. A
fairly steady trade kept prices up after
the early dip, but Il was free covering
situation and liberal seaboard clearances
%@rc to h@9sc down at 71%c to NE,
shade up at T2hc. Local receipts were q
cars, Q Of contract grade; Minneapolis and
Duluth reported $s cars, making a total
ga last week, and SOC a year ago. Worlds
shipments were L712,0C against 1!672O EO
fS Hs. last gT wssk, apd on S''iy psSsa SeSn des
creased l.2O8, 900 bushels. The visible sup
ply decreased 2,025,00 bushels. Seaboard
%clearances In wheat and -four equaled s2S
bushels, against 912,6O bushels last year.
Oats shared in the general depression
promising, oats were moving to market
better. the May bull scare was out of the
way and commission houses sold here and
there. Trade was light all day owing to
the restriction by heavy receipts, The
corn strength helped prices late and July,
and closed firm and &c up at 36%c. Re-
ceipts were 362 cars.
Trade in provisions was restricted and
without much interest. Opening prices
were lower on a free movement OF hogs.
Hog prices, which were weak early.
packers and the grain strength the pro-
vision list went up and closed; July pork
~. higher at Sl7173t; July lard &c up So at
Estimated receipts tomorrow: Wheat. s.
cars; corn, $50 cars; oats. PAS cars; hogs.
1900 head.