Omaha daily bee., 1902-06-08
COMMERCIAL AND FINANCIAL
Excessive Wet Weather Maintains Lead
for Cereal Bulls.
MARKET DULL, BUT GRAINS ARE STRONG
Bad Weather Announced by Foreign
Cables and wheat and Corn GO
Up, While Oats slip Down
After Initial Bulge.

CHICAGO, June 7.-Excessive rains were
the bugaboo of the bears today, but TINS
session the cables also told OF the same
little support in a dull market was sufh-
Client TO bring strength, and July wheat
closed sc up. July corn hqAc higher and
July oats a shade down. Provisions closed
a shade to PIC up.
Wheat took a strong grip on the market
higher on cables and fears of wet harvests.
In. France the harvest is almost due and
that in former times wet weather, such as
they are having, hurt the crop much. Here
Here. were plenty bearish influences, but
additional rains after the already heavy
downpours started covering and a good
support. Bulls, argued that the present
sumption that the yield was to be excep-
tionally large. There was very little SELL
ing pressure on the market early and good
July opened %q1c higher, at I2A4I2$sc and
sold at 12Ac Gradually the support oi the
larger interests were withdrawn. The re-
port that cutting was going on in the
southern part of this state and that the
wheat. would be on the market within a
week led to some selling and July slid OFF
to nb4I2c. After that the market haggled
narrowly IFOw With a small uPturn on liberal
which amounted to $4,000 bushels. The
close was firm, July sc up at l2Ac; Re:
ceipts, Z cars, l contract; Minneapolis and
Duluth reported 244 cars, a total of PSI,
against S92 for two days last week and 439
bushels, compared to 10000 bushels last
year. The seaboard reported IA loads taken
for export.
Corn was dull but firm The wheat
strength, together with the strong cables,
inhuenced an upturn, as did the talk of
poor cultivation of the growing plant be-
cause of the wet fields. The leading bulls
gave. some small support and St. Louis
bought July fairly well. Prices held well.
but there was decided feeling that with
the possibilities of a $500, 900, 0O0-bushel har-
vest prices were too high. Most OF the
crowd was guessing at the attitude Of the
| leaders. JulN sold between 62Ap and 6gTLp
and closed firm, Hd%c up at 631sc. Re-
ceipts, 337 cars.
Corn took some of the strength out of
cefpts also are light, with a small per
centage of contract stuff. Today commits
sion house business was fair and July
opened &c higher at 39ssc and sold to S9%c.
counts brought strength, but buyers OF
new July around Soc realized their profits
and after the bulge prices eased on alb
sence of support. July closed barely
steady, a shade down a t 39hq39kc. Re
ceipts were 112 cars.
Provisions had a dull and artificial trade.
The hog market. was higher on a smaller
run OF hogs. This. gave the packers a rea-
for the purpose of unloading on the out
slider. Conservative traders say prices OF
all provisions are too high, particularly In
the light Of improved receipts Of hogs OF
better quality. January products are now
selling on the basis that hogs will cost 500
g6.25. Outsiders, understanding the manner
In which packers are manipulating the mar.
ket, are staying out; JJuiy pork closed
shade higher at $40. 25dlO. 21b. and July ribs
PIC higher at S10.17h.
Estimated receipts Monday: Wheat, 81
cars; corn, 425 cars; oats, 100 cars: hogs
1900 head; Receipts of hogs for the week
TIL leading futures ranged as follows: