Omaha daily bee., 1902-08-22
COMMERCIAL AND FINANCIAL
Grains and bog Products Take Lively
Strides in a Wild Market.
HIGHER PRICES EMERGE FROM BEDLAM
shorts Scramble After Corn and
Cereal Jumps Fiercely While
acker Boost ~ProvisOns
TO DiEzy Height.

CHICAGO, Aug. H.-Today was q wild
one in corn. The return OF manipulatlon
which began to make Itself felt a week
ago. mace all the Pits worst e st0rS September
gaining almost &c at one time SePtemDet
options in every pit felt Wheat Re e1e Got u q
whirl, shorts in oats saw no nope OF fon-
tract stocks and the big packers put Their
fortunate longs unloaded some OF their
holdings for profits and there were sIght
Teeesslons from TOP PrtGes e sSeg was
strong. September corn closed 4tsc higher,
September wheat NC up 4hs Sngrppvigions
There was an afterclap Of the July corn
at the opening. OF late II had been a case
OF blind lead the blind selling SEPTEMBER
corn in order to get prices L0 d%wn p 59 "a ,o ala
come after the huge receipts OF last montn
and September tumbled from over 6oc 70
Soc. Then came the story of poor recelpts,
with but little grading contract, immense
short Interests and backwardness OF the
Rets began advancing. Today cables were
very strong, receipts were only 90 cars anu
inhuential buyihg started e a WHO copp en
with and wanted II badly, but NOBODY
Tbe zig bulls took on good lines where
they could and offered almost nothing; For
eign houses did good early buying ana win
nrices advanced in leaps and bounds. 1t Is
Generally conceded that September corn is
In a very strong position and Is paoly ueo
months made good advances in sympathy,
but not SO excltedly as September, when
SRShe 10 gg7%c and Closed very strong and
congested 4bc UP at SIC. December sold
Wheat started easy. but soon felt the eff
fects of the corn excitement. Gables were
Indifferent and fairer weather was reported
MS pt IL was a story of the effects Of bad
weather, diminishing stocks. lighter re-
the depletion of contract stun. The big
6ull interests did comparatively little 70
start a swift buying m lsSs bsSan E'e MINNIE
heavily and of course the shorts followed,
There was no selling pressure september
vances in other options, which otherwise
had a bearish sentiment behind them. The
Snces IN Wheat ana flour were heavy at
$4,000 bushels, a total In four days OF 3,OOo,-
600 bushels. September started bqAc to y
corn strength was felt and prices went to
nc. At one time this month was 4%c over
dip, but September closed firm, &c. up al
nh971%c. Local receipts were sos cars,
only 8 OF contract grade. Minneapolis and
last week and sS "a q year ago. Primary re,
e63, 900 bushel last year.
Oats shared In the strength and activity
WnlCn GHdTdCNtTlLtu dl AAC Nv
September. led in the advance and gained
1hc The sensational upturn IN september
corn stimulated the bullish feeling that has
Deen prevalent IN .h!s pit for several DAYS
and brought the shorts to a realization OF
their tight position. Shorts did most of the
buying. They had In mind mainly the poor
grading and poor stocks. Crop advlces
were bad and receipts, though larger thar
yesterday, were still far from sufficient "a
aid the shorts In their dilemma. At things
trade lapsed idle, but the strength held
throughout the session. September sold
from 1915. TO 341hc and closed strong; 1@11hC
up at 3l%G341hc. Receipts were 30 cars
only 16 of contract grade.
Provisions naturally followed the higher
prices OF hogs and the advance In corn
The demand Tor consumption also was gooc
and II needed only the support Of the pack
ers to bring a sharp upturn all along the
line. Shorts covered freely. Business haC
largely a manipulative aspect. September
pork made a Jump Of s5c a barrel, selling a.
S17, and closed zoe up at 1855; September
lard sold up to a strong close, 4Oc higher
at S1097h, and September ribs, after selling
at SIC. 20. closed 22hc up at S10.121.
Estimated receipts tomorrow: Wheat, 80
cars; corn, 80 cars; oats, 200 cars; hogs, 2S,
no head.
The leading futures ranged az follows;