Omaha daily bee., 1902-05-26
COMMERCIAL AND FINANCIAL
Government Report Deals Blow to Early
Grain Market
PRICES RALLY LATER AND PITS GAIN
Cereals start on Downward Course,
but Excellent Export Demand Bull
VnIues 20 Gains-ProvisiOns
Declines.

CHICAGO, May 24.-The grain markets
were thrown out Of gear today by the pup
Years crop Yields. The report was con-
strued quite bearishly for a time, espe-
cially since foreign markets were depressed
by II. In the end, however, an excellent
export demand helped traders to view the
revised figures most di~spassionately ana
July wheat closed a shade higher, July
corn 3sc up and July oats a shade advanced.
Provisions closed 5d7hc higher:
Wheat suffered materially at the opening.
G sSawed w gn increase gsak; ' 6f !S,CUe,o GO Sush tisO in
last years crop over the former hgires'
trade was light and the crowd was over
bold on beautiful weather talk. Kansas
points reported that harvest would begin
In ten days and that the. conditions IN
many places were me; Win eIs % the acre,
Estimates Of this years winter crop ex-
ceeded 400. 100000 bushels. Under these in
duences and the bearish effect the govern
ment report had on the curb last night
opening prices were depressed. July, A8
&c TO hG%c lower at 72c to 72Ac and hung
between these figures dull for some time.
After the market there weakened on stop
loss orders coming out at !5c; tne shorts
and some Leading pulls started IN 70 Con- 90 a
pletely when a good export and cash de-
mand developed and prices, rallied. The
running small for home time, were again
curtailed, but advices were to the erect
that a car famine in the west was prevent
ing an otherwise liberal movement. July
worked up to 73s1q731zc and closed firm. a
shade up, at 1890. Local receipts were
Z cars, no contract grade; Minneapolis
and Duluth reported 125 cars, making a
total for the three points of 1872, against
12 last week and 26O a year ago. Primary
receipts were $4,000 bushels, compared TO
405, 600 bushels a year ago. Seaboard clear
ances in wheat and flour equalled $4,000
bushels. New York reported 81 loads taken
for Export.
Corn was similarly affected to wheat by
the government report. There was a break
OF Nc on the arbitrary increase of S,529,OOC
acres In the area and 164 100000 bushels In
the production. The crowd, however, was
inclined TO the view that consumption had
been proportionately greater. Cables were
lower and crop prospects good, with the
exception OF dry subsotls In some districts,
Nevertheless good strength developed and
July rallied sharply to 62ssc, after opening
as low as 6l%c. July closed strong, &c up,
at 62hc. Receipts were "a cars.
Oats were dull and undressing. The
early tone was weak under the influence
of the other grains. Receipts were in
creased somewhat and crop prospects con-
tinued to be favorable. After the early
weakness a fair support developed and
prices rallied. July oats advanced from
S6%c to 3l%437hc and closed steady, a
shade up. at 37hc. Receipts were 1S2 cars,
Provisions recovered some from yester-
yards was smaller than had been estimated
yet prices were lower. In spite of this
and the grain weakness prices opened only
slightly easier and upon the development
Of a good packers support advances were
made. July pork closed S471Ac higher
July ribs SC higher at $9.62k. Receipts OF
hogs for the week, 0,000.
Estimated receipts for Monday: Wheat,
3 cars; corn, 80 cars; oats. 25 cars; hogs
$1,000 head.
The leading features ranged as follows: