Omaha daily bee., 1902-05-27
COMMERCIAL AND FINANCIAL
Upturn Favored by Bullish Statistics and
Cereals Make Gains
BEARIsH ARGUMENTS IN PROVISIONS
weaken HOG and Values
Drop on, while wheat and Corn
Close Up, with Oats I'm
changed.

CHICAGO, May 2s-Bulish statistics. es;
peciaily big decreases in local stocks, ana
continued mail receipts gave bull tT feq-
gains were made In grain prices. July
wheat closed kdAc up, July corn, %qFsc
alsner; we en1 weak and Closed 71Hc to iOc
Wheat, showed a good amount Of
there was a short-lived dip on a dull mar
ket. Gables we're weak, there was promise
opinions difered about the weather. con-
ditions. July opened a shade 10 &c lower
at 73h673hc to 73%q751zc: A fair commits
a time. but prices early huctuated very
narrowly because of good crop prospects.
When Sya.I N the aS SlssGiSle b ssRBeIIy a snpT ifsera a de- de-
creases in local stocks were taken INTO
/ consideration bulls began TO lift prices.
Creased 10000 bushels and the northwest
had lost 100000 bushels. Traders VINO had
been in the country Sunday talked OF ex-
cessive rains in many districts. There was
some fair late activity and July sold up to
7S7kd74c, materially aided by the strength
in corn. The close was firm, Aa3sc up at
73Mdf3Xc. Local receipts were p cars,
hve of contract grade; Minneapolis and
Duluth reported 252 cars, making a total
for the three points of IA cars, against
$50 last week and al a year ago; or. pass
age stuff decreased $4,000 bushels. Worlds
shipments were 9,672,000 bushels, against
$4,000 bushels last week, of which a
large proportion was American. Primary
receipts were $4,000 bushels, compared TO
b77,OO bushels last year. Seaboard clear
ances in wheat and -four equalled 254,UO
bushels.
Nearly every argument favored an up
turn in corn. Receipts, although larger
than several days ago, were stu much
smaller than necessary to replenish stocks.
Gables were firm, cash business was good
and the crowd rather than sell short was
inclined to take all the scanty offerings
at better prices. Crop prospects were good,
but rains were reported too excessive for
growth. The southwestern markets also
were bullish. Manipulation pushed up the
nearer options, while the further deliy-
cries showed irmness, The decrease in
stocks helped the bull crowd manipulate
July until the July-September spread Wild
ened from 2 to 21kc. July sold up to 63Ac
and closed strong &Ghc up at 6Sq6Slsc.
Receipts were 90 cars.
support. Fair offerings of May set the
price of that option back n little, but other
stun was tightly held and prices were very
steady. Almost the only feature of the
Dit was the absence of desire to sell stun.
July sold at 37hd37%c and closed un-
changed at 37sc. Receipts were much
larger at 219 cars.
Provisions had to contend against the
weakening Influence of a weak hog mar.
and prices declined easily. In the day
when the pit was dull there was a light
rally on the corn strength, but the close
was 10c lower for July pork at $16.9715, nc
down for July lard at so. 10110.12k and
71kG10c lower for July ribs at $9.52@9.55.
m receipts for tomorrow: Wheat,
30 cars; corn, $50 cars; oats, 800 cars; hogs,
1900 head.
The leading features ranged as follows: