Omaha daily bee., 1902-04-16
COMMERCIAL AND FINANCIAL
Balloonish Tactics in Wheat and Corn PITT
After Early Slump.
:RIcEs PAUSE ON SUMMIT At FINISH
carly Market Possesses Depressing
Attitude. but BuIlish News, with
Gigantic stride In wheat,
sends All Lines Up.

CHICAGO, April 15.-~speculation II
grains was Of an erratlc nature again 70,
lay. Doubts as to me possible ende stpT ~
mixed the wheat trade early and other In
auences pressed down prices somewhat
while a break at St. Louis hurt corn there
lust before the close, however, wheat be-
gan to skyrocket and corn tailed aIter'
May wheat closed 1ha19sc higher, May
corn. 1Lc up and May oats nc adVahcei
provisions gained a shade to 10c.
Early business in wheat was somewhat
iemoralized. The crowd did not KniGw NOV
sarly deals were a matter OF guess work
Rains had fallen west and inclined specu-
lators to the bear side. orthwestern re,
,eipts. however. were almost nothing and
he cash demand at Minneapolis was much
improved, because nearly everything was
and as advices from London stated that
Duyers would pay the duties through Au-
gust and after that the duties would be
igured i'm the contracts, the crowd turned
10 settle. May wheat opened ~unchahseu
20 a shade higher at Use to i721ac, touched
treat discrepancy in cables. Liverpool
Iarly cables were as much as &c higher
~ ios Nc lover TO " higher. 1t was
announced that colonial as well as foreign
wheat must pay the tax. II was assumed
DIV the trade that export business would
Be upset for some time owing to the tax
measure. After the in corn wore
Iway somewhat and the fair weather re-
iamage reports, heavy buying set in.
Bradstreet reported a decrease of 1884, 900
bushels in the visible supply. Commission
sred freely. The general sentiment turned
Eery bullish and the opinion prevailed thai
ling at times helps It but little. Late
damage reports scared the crowd badly
and in the half hour before the close May
was showed up &c from its low price for
he day and brought Hc. May closed
strong. 11z61%c higher at 737s67ic. Local
grade: Minneapolis and Duluth reported
only ninety cars. making a total for the
three points of 1874 cars. against 235 last
were .25l,OW bushels, compared 10 $500
bushels a year ago. Seaboard clearances
in wheat and -four equaled 262, 900 bushels;
Corn shorts were subjected to hard
squeezing today. There was plenty OF
stuff for sale early on the break of &c at
st. Louis. The situation was almost the
a report of a sale of 100000 bushels cash
and the southwest turned weak generally.
gone at the two southwestern markets,
there was not sufficient demand to Keep
prices up. The market was nervous most
Of the day, but gradually bears plucked
up courage and began selling short. Then
came the bulge in wheat and prices
Jumped upward again as the shorts tried
10 cover. Action was very irregular. but
the business transacted was not heavy,
May corn opened Ac higher to Ac lower
vanced to SIC, where it closed strong, 1kc
higher than yesterdays close. Receipts
oats held to better prices in sympathy
with other grains. There was fair buying
Of May and the new grade of July Com
mission houses helped In a small advance.
Local bears were not sellers, but trade was
only moderately active and the larger re-
ceipts and better conditions for sown oats
retarded advances somewhat. May sold
between 42lko and 43c and closed firm, &c
higher at Bc. Receipts were 232 cars.
Provisions were strong early on the bull
lsh hog situation. Packers were large
buyers of pork and ribs and the outside
bought literally for investment. Offerings
such as they were, came out principally
COR profits and were quickly taken VI. To.
ward the close prices eased somewhat, but
the tone was generally strong. May porl
May lard closed a shade higher at 50. ESQ
R.7Ih and May ribs 5q7hc up at $e.171s6
t.20.
8 cars; corn. 40 cars; oats, 80 cars; hogs
$4,000 head.
The leading futures ranged as follows: