Omaha daily bee., 1902-06-09
COMMERCIAL AND FINANCIAL
Excessive Wet Weather Maintains Lead
for Cereal Bulls.
MARKET DULL, BUT GRAINS ARE STRONG
Bad Weather by Foreign
Cables and wheat and Corn Go
I'D, While Oats slip Down
After Initial Bulge.

CHICAGO. June 7-Excessive rains were
the bugaboo Of the bears today, but this
session the cables also told Of the same
bad weather abroad. In consequence a
little support in a dull market, was suffi-
Silent zen 10 bring strength, and July wheat
July oats a shade down. Provisions closed
Wheat took a Strong grip on the market
early and worked its prices somewhat
higher on cables and fears of wet harvests.
In France the harvest is almost due and
prices are advancing on an old precedent
that In former times wet weather, such as
they are having, hurt the crop much. Here
additional rains after the already heavy
~downpours started covering and a good
support. Bulls argued that the present
low prices could be Justified only in as
sumption that the yield was to be excep-
tlonaily large. There was very little SELL
ing pressure on the market early and good
buying came from commission houses.
July opened %@hc higher at 72Aq72sc and
sold at 72hc. Gradually the support "a the
larger interests were withdrawn. The re-
port that cutting, was going on in the
southern part of this state and that the
wheat would be on the market within a
week led to some selling and July slid Off
to nAq72c. After that the market haggied
seaboard %clearances of wheat and flour,
Whlch amounted to $4,000 bushels. The
close close was firm, July Ssc up at 72NG; Re;
Duluth reported PA cars, a total of psi,
against S92 for two days last week and 4S9
q year ago. Primary receipts were $4,000
bushels. compared to 10000 bushels last
year. The seaboard reported Il loads taken
for export.
Corn was dull but firm. The wheat
strength, together with the strong cables,
influenced an upturn, as did the talk of
poor cultivation of the growing plant be-
cause of the wet fields. The leading bulls
gave some small support and st. Louis
bought July fairly well. Prices held well,
but there was decided feeling that with
the possibilities of a $500, 900, OO0-bushel har-
vest prices were too high. Most of the
croWo was guessing at the attitude of the
leaders. July sold between $3.50 and 62Ac
ceipts, 1857 cars.
Corn took some of the strength out of
ceipts also are light, with a small per-
centage OF contract stuff. Today commits
sion house business was fair and July
opened sc higher at 1850 and sold to
The trade was active, covering short &C.
counts brought strength, but buyers of
new July around 36c realized their profits
and after the bulge prices eased on alb
sence OF support. July closed barely
steady, a shade down a [ 391s639Lc, Re-
ceipts were liz cars.
Provisions had a dull and artificial trade.
The hog market was higher on a smaller
run OF hogs. This gave the packers a rea-
son for manipulating a little higher prices
for the purpose of unloading on the OUT
slider. Conservative traders say prices of
al PROVISIONS are too, high. particularly in
the. light Of improved receipts of hogs OF
better quality. January products are now
selling on the basis that hogs wifi cost Sc. %
!q6.25. Outsiders, understan ding the manner
ket, are staying out. July pork closed
steady, PFC up at $17.4219; July lard, a
shade higher at $40 25d10. 27k, and July ribs
Pic higher at S10.1712.
cars; corn, 425 cars; oats, 1870 cars; hogs,
175, 900 head. ~
The leading futures ranged as follows: