Omaha daily bee., 1902-06-26
COMMERCIAL AND FINANCIAL
Shorts Whipsawed on the Tuu Of the
Market in the Wheat Pit.
BIG OPERATORS INDULGE IN A sHAKEoUT
Corn Rules strong on Higher Cables
and Reports of UnprOpftiOus
weather I'm the Corn
H,N Belt.

CHICAGO. June 2~5.-"Tailers' in wheat
were punished today. After early strong
prices, support was withdrawn from wheat
Occurred in corn; shorts were banded about
by the bull manipulators until they coy
cred, then the price was, allowed TO Clip
back. Under these mixed conditions July
wheat closed Nc lower, July corn sc. up,
September corn a shade down and July
09sssed ana Ss Closed ioc To zoe lower.
Wheat showed strength during the first
hour. The opening was a trife, weak on
map. There was served. however, a batch
of bullish reports OF bad threshing returns,
little shipment from Oklahome, kansas,
grading. and promises of more wet weather
Elevators bought for a short time and July
lower at 7iS<c to 7IZc. advanced to 7Esc.
Yesterday IT was known the short interest
was pretty well eliminated. Such a ,condl-
sence Of any interest to support the market
on dips. This break came today, when the
liberal selling was INDUCED in. Longs who
had tailed" after the big bulls scurried
TO secure paper profits or to prevent loss:
Freely. Added to this weakening influence
was that of an absence OF any eood Tor
sisn demand %s%s Snd t t5s T Ssopeed 10 or 7sH sne
Some support was put under the. pit for, q
Time and a rally TO lac followed, but the
The whole action OF the pit today indicated
a shale-out manipulation by the bulls to
buy in at lower prices, Local receipts were
@polis and Duluth reported 27S cars. max
ing n total for the three points OF DS cars,
Efrs E : s reo saDt w were S $40 81 bu.. Compared
to All, 900 last year. Seaboard c~learances IN
wheat and flour equalled $1,000 bu. The
~lseaboard reported seven loads taken tor
Corn helh a good jump at the opening,
induced by higher cables and cold wet
U,aa thar for the growing corn. Shorts COW
cred and the country bought literally. Sell
ing that has been going on for some, weeks
in September and which has been thought
TO be for the provision crowd was said
today to be for the big bull interest. This
Influenced e mixed n ID feeling tSn S,9 IN f pTIc pit Of ' Sec,
which was reached during last weeks eN-
element. Shorts were punished TO, some
to slip back. July held much of its adj
vance, but the selling on the bulge IN sep
TENDER brought, 5 an ss excited %ssS s Close a IN t sss S Gs;
shade down at SO9SoHc. Receipts were
Oats had a good advance early on buying
orders in the hands OF all commission
houses, The weather did not help the croI
demand until No. 8 white sold TODAY at
51d51hc. A little proft-taking on the buige
weakness in wheat and provisions had nc
influence. Receipts were 100 cars.
load some of their burden on the outsiders.
Hogs, although touching .$7.95. we're gem
@raily weaker. This caused general liduida-
ton most OF the day. AZ times brokers
bought in to steady the decline. General
selling of ribs, however, produced q weak
close. July pork sold between $1S.S2h and
sis. l2h and closed 171sc lower at $S.22it
September pork sold from 1888 down &c
lSIS.35 and closed zoe down at SIS. 47A, July
lard closed 100 lower at st0.671 and Septcm-
der ribs 15a17hc down at s10.60g1O.
Estimated receipts for tomorrow Wheat
5000 head,
The leading futures ranged as follows: