Omaha daily bee., 1902-06-13
COMMERCIAL AND FINANCIAL
Cereals Are Permestsd with Bullih sSnti.
meDt and Prices Advance,
OATS ANIMATED AND ASCEND iSHARPLY
later PrOnt Taking Nips on Mucf
of Gain, While Provisions Split
aud Quit Higher to
Lower.

CHICAGO, June 12.-Bullish sentiment
put grain prices Up today. Trade was OF
was good ACTIVITY. The scarce news, how.
ever, was of a slightly bullish turn ana
at the close July wheat was Ag3sc up,
July corn nc higher and July oats nc
most products and closed 71c higher to
Wheat opened bulIlsh. with little news
upon which to argue strength. Cables were
indifferent, but receipts were small. There
was more wet weather In several ocanue
in the west and there was continued talk
of reduced stocks. Cash demand. however
amounted to very Little yet the eTo w.
fairly good-slzed short interest and July
after opening h4Ac UP, at a2gI21sc. az
vanced TO 76Mc. There was still some, eN-
citement in Minneapolis and prices there
advanced. Later the Liverpool cables re-
ported an advance in English futures or
bad weather. French markets also were
higher. The market was not destined 10
broaden, for on the advance the, leading
elevator interest that has been bulinB july
and selling September turned tactics, Swing
activity to the further deliveries and de,
pressing July. The crowd tailed after and
July weakened somewhat. The close was
rather firm, July kq3sc up, at 7ZgISLc.
Receipts were 10 cars. one OF contrary
grade. Minneapolis and Duluth reported l64
cars, making a total for the three points
of lT9 cars, against 26 cars last week ana
a6 cars a year ago. Primary receipts were
els last year. Seaboard clearings equalled
277OO0 bushels. The seaboard reported ~
loads taken for export.
Corn was dull, but firm. all day. The
trade neglected this pit, but the strength IN
wheat and small acceptance offset the ia
yorable weather., so that much support by
the big bulls was not necessary. Inc iocal
crowd favored buying deferred futures.
Prices advanced at the opening, but when
wheat lost Of its strength, corn eased and
July closed steady, NC higher, at bSAc.
Much of the early strength was based on
the argument that although receipts were
liberal at 32 cars, the. percentage OF con-
tract grade was small; Crop reports are
not particularly bearish, especially those
from Iowa and Illinois.
Oats had the exciting pit of the floor.
Shorts covered briskly early, there was
a strong demand from commission houses
and as there was little pressure to sell
July new jumped from 39ssc at the open.
ing to 40%c. Receipts were very light at
IS cars, with very little stun contract grade.
The cash demand was steady. Proht-tak-
Ing on the advance was plentiful and. eased
the demand so that much OF the advance
was lost. There was, however, marked in,
dependence to the pit and July new closed
1t suited the packers interests today
to push provision prices down. Hogs were
weaker and the natural conditions Favored
a break, but after a little dip at the open
ing the packers took up the offerings and
again advanced prices. There were a few
shorts in ribs who covered and caused an
upturn, but after that was over the acker
found the pit so dull that they could not
unload pork or lard on anyone, save at
lower prices. July pork slumped to, tlI;SI15
closed SC lower, at 1900, and July ribs TIC
up. at S10.45, after selling at S10.B.
Estimated receipts tomorrow: Wheat, 70
cars; corn, 355 cars; oats, los cars; hogs.
5000 head.