Omaha daily bee., 1902-04-07
COMMERCIAL AND FINANCIAL
Chicago Spectators at Sea Over the
Crop Outlook,
BULLS AND BEARS ALIKE ARE CAUTIOUS
wheat Goes Up aud Down over cry
Narrow Range aud other Cereals
and Provisions show
Like Tendency.

CHICAGO. April 5.-Speculation on the
Board of Trade today was an indlieIe1l
ual decline in corn prices hung steady.
May wheat closed a shade higher, May
Provisions closed unchanged to 7lEa1Oc up.
There was very little desire to do one
thing or the other in wheat. Bearish con
ditions seemed to be in the majority, but
the slight breaks experienced were met
with fair rallies. At the outset cables
were lower, but the crowd was talking Of
the sale by an elevator OF over 100000
bushels OF cash wheat at Duluth and re-
fusals of bids for 10000 bushels more. This
business was said to have been done late
yesterday, and to have the Incentive for
the heavy early buying. in the previous
session. On this factor May opened rather
firm, unchanged to hc up at ,707s@liBc.
The crowd felt very bearish and the Mis-
souri, state crop report, indicating 81 per
cent Increase I'm acreage of wheat and a
condition of 30 per cent started lower
prices. The crowd was inclined to doubt
the cash sale story, but though May prices
castoned a reaction and May closed steady,
a shade up at 7O7sG7lc. The crop for Kan
over last year, of which Is per cent has
been damaged and will be given over to
shows a condition of 70. The business of
the day was not large and the trading was
being dull. Corn weakness exerted an in
fluenCe at times. Receipts, 80 cars, none
contract grade; Minneapolis and Duluth re-
ported 2l9 cars, a total for the three points
of 22, against 55 cars 1.-TWO days. last
week, and 653 1.-TWO days. a year ago. Prl-
mary receipts were 10000 bushels, COM
pared to 1921 900 last year. Seaboard clear
ances equaled 1S9, 900 bushels. Australian
shipments for the week were 100000 bushels,
compared with 592, 900 bushels last week.
Corn was weak. Liquidation of May de-
liveries by commission houses and little
support by the bull crowd depressed prices.
Liverpool was weak and favorable crop
conditions pressed on the market. Country
offerings continued small, but cash busi-
ness showed no Improvement. On the de-
cline pit traders took fair amounts, pre-
sumably playing the market for a bull
turn. Trade was small and the range
rather narrow. May sold from 591sc to a
weak close, asq&c lower at 5SSd5S1sc. Re
ceipts 81 cars.
Oats were dull. Following the weakness
in corn the far-of options were easier, but
May had some little support and 1uctuated
only narrowly. The Missouri state report
shows seeding condition March 20 at g., as
against Is his time a year ago. May
closed hc lower at 425ec. Receipts, 81 cars.
Provisions were dull much of the time.
but had an upturn on the better hog situa-
ton. Pork led in speculation and was
strong enough to give a firm turn to all
Ing for bulls of the local crowd. but after
this demand was filled trade hung fire. The
outsiders seemed to be well loaded up with
long property and waiting developments.
Cash trade was featureless. May pork
closed 7kG10c up at S16.47k. May lard 2hC
higher at 500 and May ribs unchanged at
$S.S7h.
Estimated receipts for Monday: Wheat.
30 cars; corn, IS cars; oats, 10 cars; hogs,
1000 head.
The leading futures ranged as follows: