Omaha daily bee., 1902-06-01
PATTEN CORNERS MAY OATS
Leading Bull Advances Price Of Cereal
Nearly Six Gents.
OTHER CEREAL VALUES CLOSE LowEF
Corn Continues Downward and wheat,
Though Firm for a Time, weakens
with Corn Break-PrOvisiOns
Take Upturn.

CHICAGO. May S1.-Aside from the ter
mination of the successful. corner IN May
higher prices in that pit, speculation In
grains today was again under bear domi-
nance. For the third successive day corn
Closed d'h %c fEogwStear, july corn s&axc down
SIC higher than Thursday and at the top
price on record. Provisions closed firm
and &c to 7hq1Oc w.
The opening influences were Of a strength
ening nature and prices made some fair
tine shipments showed a markedly builish
decrease at 3S2 900 bushels, compared to
1,15O,00O bushels a year ago. The prospects
be small. These incentives started July
wheat a shade to AqSsc up at L2hdt2f5c
an1 soid ia at tb IL7hg gImHsss I ioon OI TaRe wav.
however, to a dull scalping market and a
gradual decline ensued. Crop prospects
the bullish news and inducing the. local
crowd to sell short. Advices southwest,
however told Of too much rain. As corn Tor
wheat broke to INC, closing easy and 1c
down at 72hc. Local receipts were 81 cars,
iuth reported 81 cars for the two days,
making q. total for the three points of 3S2
cars, against 1872 one day last week and
receipts were $751;, 600 bushels, compared to
476,O0O bushels last year. Seaboard clear
ances In wheat and flour equaled $4,000
Corn continued its down turn today and
completed a slump of S%c since the first
a fair advance on firm cables and small
country acceptances. II was the increased
receipts and the fear of a continued heavy
market that pushed prices down Receipts
were heavy at 4l2 cars for two days and
bearish at 500 cars. There was some short
selling on crop prospects and the generally
bearish sentiment but the decline came
Of the session business was active, but of
q local nature. July opened a shade lower
support by the leading bull house to 6211c.
Persistent bear argument brought a slump
TO elkaS1ssc and July closed weak and No
TIL termination of James A. Patterns
successful corner In May oats brought a
week and the month. For several months
the May deal has dominated the oats pit
to the exclusion Of any very active bust
him a line of long stun at about &c,
amounting to between 100000 and 1000
900 bu. Prices were pushed UP methodicaily
from. week to week on the corn scarcity
and held at a uniformly high price until
the cash stun and selling 1t out at a good
advantage, but at tempting figures;
de LGeai st %eFs t %seH i RrsbS y fSe sho SePIe %So
wanted to deliver, but the price hardly
wavered from its strong position. Many
shorts settled personally with the big bull
without going into the pit. Today Patten
himself. bid prices. up, nobody dared sell
what they would lave to buy from him
and the result was an advance today Of
6%c over yesterday. and a tightly cornered
close at the top prices on record for May,
4shc. Profits for the leader are estimated
at a little short of $1:0oO.0O0. The trade
In other oats was dull and uneventful.
Crop prospects are good and with corn
weakening oats sold off. July closing weak
and Nc down at $3.50. Receipts were liberal
at POI cars.
Provisions again felt the serious aspect
of the strike of the packing house team
sters at the yards, Curtailments of ship
ments OF live stock has kept hog prices
up fairly well. but the crowd was afraid
to do much business; The firm hog situa-
ton was augmented by a little packers
support and prices closed firm. July pork
&c up at $40, July lard &c higher at
9.75.
Estimated receipts for Monday: Wheat,
80 cars; corn, 500 cars: oats, $50 cars: hogs
$1,000 head; for the week, $50, 700 head.
The leading features ranged as follows: