Omaha daily bee., 1902-04-20
COMMERCIAL AND FINANCIAL
Prices Hinge on Weather and Bullish Sen.
timent Predominates.
MARKET sEMl-ACTNE AND NERVOUS
Opening Bulge In wheat and Corn
and Close Leaves Figures Up-Oats
Advance, but Drop Back 20
starting Point.

CHICAGO. April 19.-Fears in the minds
of grain spectators over the weather con-
ditions produced another nervous market
today on the Board of Trade. Bullish sem
timent predominated, though trade was not
brisk, and at the close May wheat had
oats stood Unchanged. Provisions closed
unchanged to Zoe lower.
Wheat was ruled by the weather. People
who sold late yesterday on the rumors OF
rains bought In hurriedly at the opening
when dryness was reported again and
S seesterr d a ~ pprmsSy receipts also caused
alarm to shorts and induced good buying
at times. Traders we're firm in the belief
hinges on the moisture that may or may
not come to the relief Of the winter crop
In the next ten days. For some days the
days go by without the needed rain the
situation grows more critical and complex.
Sot o W Is th eeW winter e TSHerf9 uiff Of dam.
gerous possibilities. but the story is now
pretty generally circulated that there Will
be a very serious shrtnkage In the area or
spring wheat in the three northwestern
states. Cash wheat is growing scarce here
and in the interior, and this consideration
caused holders to stand firm today. No
shipping business was done here today and
the export demand at the seaboard was
early upturn, but exceptionally large clear
ances of wheat and ~tiour-l1S,OO0 bushels
together with the big, bulIsh factors,
to hq&c advance at 741kc TO 74%c, and soon
sold to 74%c. A dip to 74hc followed on
p%roft-taking, but the situation was strong
and May closed %qbc up at 1850. Re-
ceipts were 40 cars, none contract; Minne-
apolis and Duluth reported 13 cars, a total
for the three points IF 143, against 1855 last
week and 800 a year ago. Primary receipts
were $4,000 bushels, compared to 362,OO last
year. Australian shipments were 24S,WO
bushels for the week, against $4,000 BUSH
els the corresponding. week a year ago.
Signs point to a marked decrease In the
worlds supply next week.
Corn tTQna WAS only fairly QnfiVa IN
spots. The opening was hGAc higher in
sympathy with the wheat advance, but the
demand was not brisk enough to sustain
the better prices and selling was free with
the local crowd. After the opening bulge
the market became a scalping AFFAIR and
prices eased to last nights closing figures.
Statistics were still bullish, however, and
price of feed became something of a bull
ish character. Cash offerings west contin-
There was some talk of a better movement,
but conservative traders persisted In. the
ceipts here. Gables were Indifferent and
the sample trade was dull. May corn sold
at 62Ac, eased off to &c and closed firm, u
Weather was the feature in the oats
market. Drouth and the higher prices pos
sible for feed Influenced good buying early
and corn aided in the advance. July and
September both had good upturns and held
there is no longer a fear of a corner in
May. May opened at 43Ac and closed un-
changed at 43c. Receipts, l3 cars,
Weakness ruled in provisions, with pork
much lower, ribs inclined to follow pork
and lard fairly steady on packers sup
port. Liquidation and weakness of the hog
market, In spite of a small run of hogs
caused the declines. 1t was reported that
the weakness of hogs was due to manipula-
tion by packers The grain strength was a
feeble Offset. May pork closed 2Oc lower at
1850, May lard unchanged at 1915 and
May ribs h@lO down at $9.12h.
Estimated receipts Monday Wheat, 40
cars; corn, 100 cars; oats, 160 cars; hogs,
1900 head.
The leading futures ranged as follows: