Omaha daily bee., 1902-05-28
COMMERCIAL. AND FINANCIAL
Shorts Get Scared and Corn Market Gos
Soaring skywsrd.
OTHER CEREALS MOUNT IN SYMPATHY
Provisions Join in Ascension March
and All Pits Close with Prices
higher, Though Oats Crowd
In

CHICAGO. May a.-Corn prices went
climbing today and aided other grams IN
Favored better prices in all the pits, but II
was largely through the fear OF the corn
shorts that the long predicted squeeze W Nav
cominR that brought the advances. July
wheat closed %dsSc higher, July corn lSsP
iiSc up and July oats Aq3sc advanced.
Provisions closed I6 Sa7's sS,n 70 Voc yest eisns corn
easily took the lead again today. The tone
f%hroughout the session was particularly
Sas 81 the very best character. Cold
weather started the upturn, but decrease1
stocks. small receipts, with nasS de-
mand were the added influences that Irlght.
ened the shorts into thinking their day OF
coIntry 10000 bushels
and last nights bids had no erect on tne
demand. Late in the day came the gres,-
est activity, when the big bull house began
70 augment the demand of the commission
houses b. bidding freely and az hlsnes
prices. This started a sherp nSuacy,acSes'
July corn opened hqhc TO sc up AT oo3td
10 eSAqS5]kc, jumped to e4Ac ana ci9s
decTessed iaSOC0 bushels for the week.
Receipts were 161 cars. -
: Wheat made further moderate aovances
TO-DAY. The corn strength as much as any
I thing was the factor. General sentiment
/ was buliish. but there was some bearlsh
influences az wsrK, Getting a. little more
business from the country ana the Ply con-
leeauently showed a more fairly, active con-
dillon. Gables were slightly hIsheIi SaOP
,prospects were still very good and cash
demand and the premium Tor cash over
the nearer options. together with the De
creases In stocks, were the principal buil-
iish factors. Bradstreets visible. supply
Showed a decrease of 2.779,0o bushels and
Hnduenced some advances. July opened a
iahade lower TO a shade higher at 73ss973%c,
sold TO 74Lc and closed firm, Ap1zc up. at
l7hsc. Receipts z cars, ! eonte "a cor MN a
total for the three points OF l26, against
Il8S last week and 315 a year ago. Primary
receipts were $4,000 bushels. compared with
k3e5, 900 bushels last year. Seaboard clear
'ances eqUSaled 495 900 bushels. Local stocks
decreaRed $4,000 bushels last week. The
seaboard reported the export inquiry dead.
Trade in oats was slow. ave for a sharp
upturn on a few transactions In May
stun. Corn dvances were an influence;
There was a decrease here In stocks OF
al. 600 bushels, the total contract amount
now being only 42LOOo bushels me cro"o
short time, but later simply showed fair
advances. Tine fear of a squeeze In me
MAY deal" kept many traders out OF the
HG%c higher, at 37h@S7%c. Receipts. 2Ss
Provisions were very strong early on the
higher prices for hogs and on the very
small offerings. The sentiment was very
bullish for a time and there was a good
fpsokers' support. Commission houses did
some fair buying. The selling was mainly
scattered for the outside account, In the
proft-takfng caused a loss of some of the
advance. but the tone was still strong.
July pork closed hc up at Sl1.OIh, July
lard 5q7hc higher at S10.17h and July ribs
Estimated receipts tomorrow: Wheat, 20
cars; corn, 80 cars;N oats, l5 cars; hogs'
$4,000 head.