Omaha daily bee., 1902-05-30
COMMERCIAL AND FINANCIAL
Prices Upheld at Opening, but Bssrish Turn
Soon Follows.
GRAIN VALUES FORCED TO LOWER LEVEL
Generous Marketing of Country Hold
ings sends Cereals Downward and
Teamsters' strike Affects
Hog Products.

CHICAGO, May 29.-Bull Spectators in
In prices after Yesterdays serious slump,
came to grief again today. For q time they
took hold OF the bull arguments and up
and indications that the farmer was rush,
ing his old holdings to market pushed az
prices down 70 a new level Su agsnr w y
and July oats hg&c down. Provisions
closed 2ltc lower to 2hc higher.
Most of the influences IN. the wheat pit
favored sellers. support from a strong
quarter and the comparative hrmnes OF
the foreign market sept prices fairiy nfm
decline. but were not .bearish. For a time
corn helped wheat, but It soon became
apparent that the bears had the situation
in hand again. The weather In the win
ter country was warm, with rains, and IN
the northwest clear and warmer. Bears
laid great stress on this argument ana
were thriving on crop prospects. Receipts
we're increasing. In the way Of novelty
a car of Texas new wheat was shipped in
and on It's harvesting the southwest sold.
Nc additional export business came to the
relief and everything slumped. july opened
dipped to nc, closing weak and Mc. down
at 12hd72kcs Local receipts were Il cars
iuGthh reported ssos Cars, making a total for
the three points OF 224 cars. against l2S
last week. A year ago the day was a
bushels. Seaboard clearances In wheat
and flour equaled 10000 bushels.
sle gger az the opening to see what stand
the farmers would take on the Chicago
bids sent out last night. Tn country
again let go of between 100000 and 100000
bushels. Cables. however, showed indif-
ference to our slump yesterday and the
big bull crowd supported fairly well for
4 time. This kept July firm early to its
yesterdays closing price. Then came the
advice that the receipts tomorrow would
bears sold short and when the small sup
port OF the Wall street crowd was taken
away prices dropped 1c. Good crop re-
ports keep coming to market and weather
The cash demand was only fair. July
opened a shade higher to kq%c lower at
CSC to 62xc, and slumped to SIC, and closed
weak and &c under at 62isd62kc Receipts
The only feature to the trade in oats
. was the nervousness, accompanying the
"May-July" delivery, small trade and
in this option caused fluctuations OF lc.
changed. July. new, sold from 3Slsc on
the weakness in the other pits to 369sc
and closed weak and k@Ac down at $3.50.
Receipts were liberal at 22s cars. ~
The strike of the teamsters of the big
Chicago packing houses began to have a
bearish effect on provisions today. At
the opening prices were strong on a run
OF hogs 1900 head under the. estimate.
prices and then unloaded lard and ribs on
the crowd. This, together with the grain
weakness and the strike, lost the pit. all
its early gains and brought net reeessi0ns
down at sizes. July lard a shade lower
at Sl0.1b and July ribs 2hc up at S9.65.
Estimated receipts tomorrow; Wheat, 20
cars; corn, 2s5 cars; oats, 1876 cars; hogs
Tomorrow being Decoration day and a
legal holiday. there will be no business
on the Board of Trade.
The leading features ranged as follows: