Omaha daily bee., 1902-04-19
COMMERCIAL AND FINANCIAL
Anticipation Of Rains Deafens Spectators
to Plentiful Bullish News.
ALL PITS DOWN WHEN MARKETS SUN SETS
Opening squirt In wheat shOrt-Lived
Corn Inclined Toward Lurking
Alphabetically in Oats, but
Prices suffer setback.

CHICAGO, April 1s.-Grain speculation
was OF a nervous and see-saw character
today. Traders realized that rain must
come soon to the relief of the winter crop
and local opinion and prices swung up upon
this pivot. Every breath of rumor sug-
costing moisture effected prices. In the
end the crowd turned bearish and May
wheat closed MdAc lower, May corn Sc
down and May oats sc lower. Provisions
closed 21zcdl21hc depressed.
There was not such a volume OF, busi-
ness in the wheat pit as for several. lays
~ mind and feared possible rain news
might cause a break at any moment. There
was any quantity of bullish news, but
lost sight of and the trade seemed deaf to
anything but rain possibilities. Conditions
as one expert put II. Is one or dfyness OF
North Dakota line.
No rain, save an occasional shower, has
cast was for clear, dry weather in general.
Kansas City reported high winds and bugs
~lnJuring Kansas wheat One statisticien
Kansas since April l. Argentine advices
stated that the outlook was bullish-the
government helping the provinces buy seed
at 74s974Hc. Gables were only steady and
vousness of the pit prices were somewhat
erratic in their fluctuations. There were
frequent drops and as frequent rallies,
though the latter were weaker each time.
Gradually the bears prevailed. There was
a rumor of rainfalls west and proft-taklng
and some short selling pressed until May
closed weak, $3.50 lower at 73&9735hc.
Local receipts we're 3S cars, no contract
grade! Minneapolis and Duluth reported 0s
cars, making a total for the three points Of
only 1856 cars, against l7 last week and 300
cars a year ago. Primary receipts were
last year. Argentine shipments for the
week were 992, 900 bushels. against 1861 900
ances in wheat and flour equaled 451,OOO
bushels.
Trade in corn was inclined toward the
waiting attitude. Business was active at
times, but the uncertainty Of the course OF
the wheat market was a bar to marked
sympathetic action. There was a disposl-
ton to walt for some one TO take the lead.
Reports of hay crop damage did result in
a hurried upturn in corn at the opening.
May started AG1hc higher at 62SsG627kc,
but at once broke. Rallies followed wheat
somewhat, but the market showed bearish
tendencies. oats contributed strength at
times. The late wheat weakness brought
May corn to a weak close, sc down at &c.
Receipts were only Sc cars.
oats had a fairly sharp trade. Business
was big in general and prices fiuctuated
rapidly. The strength in other grains and
the fear that the dry weather would be
grain pressed prices up at the opening. Re-
eciving and commission houses bought
on independent strength. Later consider
able selling pressure came out and the
bullish aspect of the pit underwent a
change. Wheat and corn weakness were
only moderate factors in the setback. May
sold between 4c and 43c, closing weaker nc
down at the latter price. Receipts were i26
cars.
Provisions looked like a manipulated
market today. Though trade was quiet
prices early were strong on the grain
strength. The hog market was only steady
and May hay contributed to a growing
weakness, but prices were pressed by the
local bears. Packers supported but little.
May pork. closed 12hc lower at 1850, May
lower at SO. 2099. 22h.
Estimated receipts for tomorrow: Wheat,
40 cars; corn, 30 cars; oats, 145 cars; hogs,
1900 head.
The leading futures ranged as follows: