Omaha daily bee., 1902-03-30
COMMERCIAL AND FINANCIAL
Corn Leads All Grains and is Higher When
Exchange Closes,
OTHER PRINCIPALS SINK SLIGHTLY
Rain I'm wheat Belt Too Much for
Bulls in that Pit-KRnsas SHOWS
Aid Corn Prices-PrOyi-
siOns Close Down.

CHICAGO. March 2S-speculation in
grains was mixed and only fairly active
wheat was offered so literally. that a new
low price for May was recorded. At the
CLOSE May wheat was kc lower, May corn
&c. higher and May oats &c lower. Pro-
sivtons closed a shade to 15c down.
some slight strength was acquired by
wheat by cold weather. There were no
foreign markets open, however. and news
apart from the weather was meagre The
session also was short and the tendency
from the winter wheat belt continue to
develop bearish sentiment. Rains and the
warm weather helped the growth of plants
materially during the week. Some of the
Chicago crop reports from Kansas re-
state.
At the start there was good buying by a
prominent professional to take IN a long
line of shorts and there was also some
eastern buying. This business did not last
long, but the offerings continued in heavy
surplus OF tie demand and prices collapsed
temporarily, May started 1sQAc lower to
a shade higher at 71hc to H1zc, advanced
to 13sc and then dropped to the lowest
since May has been for sale this year
OSc. This new level induced good short
covering and some investment purchases
and a recovery TO nAc followed. May
closed easy, Ac down, at n4s81lhc. Re-
contract grade, and Minneapolis and Duluth
reported 500 cars. making a total for the
three points 1.-TWO days. Of $50 cars, against
one day last week of 2S9 and $50 a year ago.
Seaboard c~learances equaled 432,O 900 bu. 1.-TWO
days.. Australian shipments for the week
were $4,000 bu., compared with l,3S4,OO0 last
year.
Showing in Kansas and below freezing
in sections of the southwest started corn
shorts to cover at the opening. There
could not, Of course, be any growing. OF
grass with that temperature and traders
argued a further need of corn for feeding.
There was a good demand most of the day
and only light offerings to meet 1t. Many
of the shorts were nervous over the firm
tone and there was considerable covering,
supposed to be for st. Louis. Trade was
active at times, but the small amount put
on the market restricted general business.
The late weakness In wheat took of some
of the gain corn had made, but longs were
far. May opened firm, sold to 6OAc and
closed firm, sc higher, at 597sd6Oc. Re-
ceipts for two days were 1877 cars.
May. were liberal and there was no APP
parent attempt by the bull faction to sup
port prices. Shorts covered freely at times,
but the demand was very slack. The pro-
visions crowd sold In good quantities and
the corn strength aided only temporarily.
May started slightly under Thursdays
down, at 4l1zc. Receipts were 257 cars.
Proft-taking ruled the day in provisions.
The hog situation was still bullish. The
chief buyers of last week who bulled the
market we're content to take their share
OF profits, however. The heaviest shorts
had already covered, but there was enough
shorts left to take the offerings without
having to depress prices by any great
break. The first hour in the pit was nerv-
Gus and prices in pork rose and fell rapidly.
SIG. Az. The close was easy, May pork
l5c lower, at $16.55, May sard sc down at
Estimated receipts for Monday: Wheat,
50 cars; corn, ITO cars; oats, los cars; hogs,
1900 head. .
Trade on Tuesday, April l, owing TO the
election legal holiday.
The leading futures ranged as follows: