Omaha daily bee., 1902-02-27
COMMERCIAL AND FINANCIAL
Ahsr q Weak Opening Market Closes in
Pirmer Condition.
DAMAGE REPORTS HAVE sUoYANT EFFECT
wheat Has = Slightly Better Day
Corn Firmer and Little Changed,
Say Experts-Oats Higher
Provisions Weaker.

CHICAGO, Feb. 2S.-Widely varying opin-
as to crop conditions and rapid changes
in sentiment influenced nervousness In the
all pits were weak and eventually became
oversold. Later recurrent damage reports
&c higher, May corn NC up and May oats
sale higher. Provisions closed a depress-
ing day 1Oc to S5c lower.
Wheat ruled weak early and sold lower.
Several bearish factors were at work, such
as unresponsive though slightly higher
T fahSles' ts S9De r seeterday Spu buyers to the
short and were Joined 6y many Of the longs;
the outside markets were all somewhat
lower. A few crop damage reports came in,
but in spite of them a great deal Of wheat
was for sale. Even reports that New York
had taken more stuff on the break yester-
day than had been supposed did not help
ton ceased and the crop killer had a
chance to get in his work. Damages were
and Nebraska and the outside markets be,
gan working upward. This frightened
shorts, who covered eagerly as the western
reports came in more frequently. There
was decidedly more snap to trade than for
some time and the relatively stronger posi-
ton Of the coarse grains helped whea az
to 75xc and sold on to 3e%c. The reaction
took Nay up to 76tsc and the close was firm.
NC higher, at 76h476hc. An early error In
posting northwestern receipts 100 cars
larger than they really were. when dis
covered, had a little strengthening erect.
Trade was fair and showed a good increase
after the early lower prices. Kansas City
reported that western offerings of wheat
80 cars, two Of contract grade. and Mime
apolis and Duluth reported 40 cars, making
a total for the three points OF 4SS cars
Primary receipts were 573,000 bu., compared
to $4,000 last year. Seaboard c~learances in
sea6oard reported IS cars taken for export.
Corn held hrmer than wheat all through
the day and was somewhat active, though
same as wheat. Cables were better and In
nuenced a firm opening. May opened &c
higher to unchanged at 601sc to 60c., The
bear crowd, however, hammered this pit
and under the influence OF the wheat break
corn eased to 59sse. The pit was oyersGld
fessional bull started in to buy heavily at
the low prices the crowd changed their
sentiments and bought freely and covered
short accounts. The actual situation Of the
corn market experts say, Is very nttle
feeding. but Notwithstanding this, commits
sion houses generally have advised watch
ing the market closely. No marked in
crease in western offerings is expected for
some time. one Of the principal bull factors
was the total western corn movement OF
only 10000 bu., compared to 1.O6s,cO the
against the early depression and when the
tide turned rose b~uoyantly to 60sc and
closed strong. &c up. at 6G%c. Receipts
Oats opened strong and higher on a lack
of offerings. There was little May wanted
but there was practically none for sale
and the market advanced nc on light supply
to the demand. Then business turned dull
until a prominent long went into the pit
and bulled the market. There was a very
uncertain feeling in oats and the crowd
was playing a watching game. The cash
market was somewhat better, though the
upturn In futures restricted futures. Corn
weakness early eased May. momentarily
after the higher opening, but the later
strength in that pit also tended to help
oats. May closed A9lc higher at 43ss443hc'
Receipts were 30 cars.
Provisions were weak and much lower
throughout the session. The opening was
lower on a lower hog market at the yards
and shortly after the start a hard raid wal
made on pork. Lard and ribs declined in
sympathy and selling was rather general
A little buying was done by the packers
but not enough to cause a good recovery
The late grain strength helped a little, but
later commission house selling in the pro-
ducts caused a further decline. May pork
sold as low as $15.15 and closed 35c depressed
at SIS, 17h, MAY lard closed 15@17He down
at $500 and May ribs 10c lower at $3.50.
Estimated receipts for tomorrow: Wheat
20 cars; corn, $50 cars; oats, so cars; hogs
1900 head.
The leading futures ranged as follows;