Omaha daily bee., 1902-09-07
COMMERCIAL AND FINANCIAL
Grains Ali Take Tumble on the Chicago
Board Of Trade.
WHEAT PHIcE GOES OFF A Full CENT
Warmer weather and Failure of
Promised FrOsts 60 MHteriaIiEe
Make an Easier Feeling
In All the Pits.

CHICAGO, Sept. 6.-This has been a week
OF great anxiety, during which frost scares
put strength into grains. Spectators to-
and warm weather at hand was enough
to allay all fears Of crop damage. AS a
result Of this bearish factor and that of
western spring wheat country next week
all grains slumped of and closed weak,
&c down, September oats 1hc depressed
and December oats &c down. Provisions
closed 2hc higher to 2hc lower.
There was a fair array OF beartsh In
iuences at. work in the wheat pit at the
opening. Cables we're declining and gave
the advice that worlds shipments totaling
offerings in Liverpool were the causes.
Warm, dry weather was reported over
much of the wheat region of this country:
The northwest turned bearish and sold stun
heavily in both this market and the north
west. Minneapolis slumped nc, and, al
though In seeming contradiction to the
gest movement OF wheat in a long time,
prices advanced &c. The crowd of local
SPECTATORS was bearishly Inclined. and
heavy selling by prominent longs. both In
December and May, pressed prices down
until more than 1hc was knocked on. There
in the days news. Grading continued very
poor and northwestern and primary receipts
we're lighter than last year by almost half.
were heavy at 1,059.O0O bushels. These. in
huences. however, had little or no effect,
save possibly in retardtng losses. december
6s7c to 6s%c, declined to 67Sc and closed
weak, lie down, at 67%d575sc. Local receipts
were 1872 cars, none of contract grade. Min
neapolis and Duluth reported $50 cars, max
ing a total for the three points of 572 cars,
against 594 last week and LIZ a year ago.
Primary receipts were $4,000 bu., compared
to 1,343,000 last year.
The failure of frost, predicted yesterday,
to materialize today. put the crowd in a
selling mood in the corn pit. With warmer
weather at hand fears for the unripe corr
drifted away quickly and prices fell of.
September was not inclined to slump as
badly as December, because of the short
interest in the current month. Contract
grading was still very poor, but today
receipts were increased, 1876 cars arriving
with IS of contract grade. December opened
bqAc to a shade off at 43h@43hc, fell of
&c to 42hd42Ac and closed weak, &c down
at 42%G42hc.
Oats suffered from early brisk selling
induced by liberal receipts and the depres.
sion in other grains. September was solo
tract stuff was small today, buying wa
going on at a liberal rate. Poor weather
conditions in Iowa were influential in hold
ing up deferred futures. September started
unchanged to Nc lower at 35hc to S4Bc
/ dropped to 331kc and closed weak, 1Hc off
at 33Mc. December sold between s1%c ant
Bic and closed easy, Ac down., at 311bc. Re
ceipts were 1854 cars, seven of contrac
grade,
Provisions were dull and somewhat ir
regular. Advancing hog prices started al
early upturn, which was lost. however. oil
fair liauidatinn and Saturday evening IN
January pork closed 2hc lower at $14.97h
January lard unchanged at $40 and Janu
airy ribs 2kc higher at $3.50.
m receipts for Monday: Wheat
240 cars; corn, lis cars; oats, $40 cars; hogs
21,0o0 head.