Omaha daily bee., 1902-08-29
COMMERCIAL AND FINANCIAL
Clear Weather Has Bad Effect on Grain
Prices and Provisions Feel Weakness.
OATS ALONE MAINTAIN GOOD STAMINA
After Early Dip with other Cereals
They React Firm while Corn
and wheat waVer
and Fail. .

CHICAGO, Aug. 2s.-Bright weather gen.
orally was the Dearish factor in grains to-
day. All cereals suffered recession at the
start and free liquidation by longs. and
tor sometime bears had free rein. Later
there was something of natural reaction
especially In oats. Inc close, however, was
weak in the main, September wheat bdle
down, September corn lac lower and sep
Ions closed 1oc to S2Isc depressed.
Wheat ruled weak and was active only
the best that could be desired there was
a good amount of long selling early and
prices took a quick tumble. There was
constant talk OF a big movement OF spring
wheat soon and good prospects for a little
better grading. Active threshing of new
ing weeks Of adverse weather, the sun
shine turned all the crowd TO the beartsh
view and stop loss selling orders came out.
buying at times. September felt the most
strain, because of poor support. Late cash
ported thlrty-eight loads taken for export.
in general the aspect Of the wheat market
level, and the support was largely by those
who covered for a profit September
dipped to 69Ac and then fuctuated very mar
Towly and closed bqhc lower at 69hqiOc.
tract grade. Minneapolis and Duluth re-
ported 3l6 cars, making a total for the
three points of 555 ears, against 800 last
week and I9S a year ago. Primary receipts
were $4,000 bushels, against LAB bushels
a year ago. Seaboard clearances I'm wheat
and flour equaled 504, 600 bushels.
Corn felt the effects OF fine weather,
lower cables and reports of freer offerings.
Receipts were still light at 20 cars, l of
much better showing. The crowd turned
uniformly bearish at the opening, ana our
Ing the slump September was at one time
&c depressed. Almost everyone in the pit
had stun for sale. In general the specu-
lators in this pit thought manipulation I'm
September was at an end, but a latent fear
that such might prove the case held this
quick fluctuations and any definite news
Kansas City sent out conflicting reports to
the effect that plenty of corn would be Of
fered there within fifteen days, but that
new corn would not grade there until DC
tober 13. There was no doubt, however,
that. there was selling pressure on the
southwestern markets because of news OF
new offerings. September sold from $40 to
65Ac nm the first few minutes of trade, but
rallied to bI11c on fairly good covering.
Late fluctuations were narrow and Septem-
Der closed weak, 1Ac lower, at 56Ec.
Oats had the best strength of grains and
ing break was in sympathy with the other
grains and on nne weather. Excellent buy
Ing by cereal concerns, however, put a
prices reacted sharply. September sold
from SS%o, to S2Ac early, advanced to 339sc
and closed firm hze up, at $3.50. Receipts
Weakness In the hog and grain markets
worked against provisions. Early in the
day there was an effort on the part Of
offerings resulted from the general bear
ish sentiment on the floor and there wero
marked slmmns all along the line. Septem-
Der pork, which sold at $17.17h, closed
17hc down at {695; September lard lost
3zsc and closed at 5000, and September
ribs closed at 22hc off at ;9.97h.
receipts for tomorrow: Wheat,
20 cars; corn, 90 cars; oats, 800 cars; hogs
The leading futures ranged as follows: