Omaha daily bee., 1902-03-21
COMMERCIAL AND FINANCIAL
Corn and Oats Suffer Decline and Quit
Lower.
WHEAT DROPS, BUT REEVES LATER
Provisions Mount Higher Is spite of
= Grain Depression-wheat Leads
Landslide, but Large sales
Give BuIIish Close.

CHICAGO, March 2O.-Grain markets fol-
lowed a nervous and erratic course TO-DAY.
ton of anything but weather reports and
these being abundantly bearish, prices slid
rived at an export basis. Large sales on
the decline revived the dormant bull sent-
nent and helped other Pits sympstneuGa1gy:
higher, May corn Ac lower and May oats
&c lower. Provisions closed Sc to 1oc higher.
There was a general landslide In grains
before noon, led by wheat. Rains In the
west and southwest smashed prices; corn
was weaker on the warmer weather and
= time. Wheat opened easy on cables and
the weather, but was met with fair sup
orders were executed. but soon came the
slump In the southwest. Kansas City and
st. Louis were earnestly bearish and prices
In those markets were rapidly slipping of.
At one time ST. Louis was 21bc under yes
terday's May closing, price. The local
stun, turned about. to sell. Longs hqui-
dated, stop loss orders were met, causing
had stopped on its downward course al
most 1c was lost. Spectators overlooked
bull news. Liverpool continued steady NJ
a small decline, seaboard c~learances were
large and receipts were small. Statisticians
reported the crop in a less favorable posi-
tion. There was a better continental de-
mand reported early. and millers were re-
ported large. buyers OF grain. Regarding
these conditions the weather seemed all
powerful. May, which opened hQxc lower
at 74c to 73Nc. sold off to 7Sbc. Then came
some covering and the break was stopped.
The big influence, however. came late in
the shape of reports that wheat was on
an export basis. New York reported nifty
loads taken for export and local cash trad
ers worked the same number. The earlier
bullish factors then became more apparent
to the traders and May wheat shot up to a
steady close, a shade higher, at 14Md14zc.
Receipts were "a cars, none Of contract
grade. and Minneapolis and Duluth reported
sSS cars, or See for the three points against
receipts were 537, 900 bu., compared TO
637,O06 last year. Seaboard clearances in
wheat and flour equaled 701, 900 blu.
Corn, like wheat, had a firm support the
first hour and then a sharp break. The
market, was influenced largely by the bear
Of which was liquidation. The sentiment
S weSther in set the southwest. which is ex:
pected to hasten pasturing and an increased
interior movement. Cables were lower
as did news that conditions favored seed
ing. When wheat reacted corn followed.
There was a fair cash business and some
stun was worked here for export. The
recovery, however, was not so good as IN
wheat. and May, after selling down TO eoh
goose. closed easy, &c down. at
Receipts were Y cars.
Speculation in May oats was extremely
nervous, and was m down nc. AT
this time large quantities were %unloaded.
Again the market was comparatively strong
and there was nothing for sale. The weak
Strength helped in a recovery. Added to
these factors, however, was the important
rumor that the leading bull in May had
options suffered with other grains but
closed fairly well. May, which. opened un-
changed to Nc down at 43NQ4Shc, dropped
to 42zc, reacted and closed easy, hc lower.
at 43hc. Receipts were 70 cars.
In spite of a large run of hogs, a lower
hog market and the depression In grains,
provisions held up strongly Packers and
commission houses were buying all prod
ucts. Ribs were particularly a purchase
and the strength In that product helped
pork and lard. At no time did any of the
list show a tendency TO decline. May pork
up at $9.46 and MAY ribs sc higher at $3.50.
Estimated receipts tomorrow: Wheat, 2b
cars; corn, los cars; oats, ITO cars; hogs.
5000 head. Az
The leading futures ranged as follows: