Omaha daily bee., 1902-07-19
COMMERCIAL AND FINANCIAL
Cereals Take Upward Bounds in an B1
cited Market
OATS PLAY LEADING ROLE IN GRAIN PITS
July Option Quits Five ana Three
Fourths to the Good and Fol-
lowed by Advances I'm
other Lines.

CHICAGO, July B.-There was great ex-
element I'm grains today. Heavy rams l
the southwest fri~ghtened shorts, Wn 1di II9
accounts that prices, especially IN oats anu
wheat, literally scared. I top prices enesSS
options and prices sagged somewhat. July
deiiveries, however, huctuated IN a iasnlon
that would have done credit to a corner
and at the close all prices were strong.
July oats closed 6Ac higher, sePtemoeT &c
up, July wheat Sse hlghsT, beT dpnd Sem.
tember corn NC up. Provisions closed TIC
'oM n nooinf Of spectacular display and phe-
nomenal advances oats duly in PARTICULAR
held the center of the stage. The cause OF
the stampede was the simple situation OF a
Roodly number of July shorts caught In a
pretty tight trap. The unfortunates saw
no other way out than to climb out at a
save themselves. The rain was the cause
of the most OF the trouble. From points
reports came in that whole fields were
down and badly. twisted: Receipts were
only 81 cars n5v q OF cs S9nt Were s ne% stun 'H Snd
these I showed no contract. grade. This
put the bears in, N a ,bps panic ossn II ma scenes Sod nm
Ing and a big export demand there SHOULD
be any chance Of getting enough standard
Current month. Added to this news, which
IN itself twisted the market In spasms,. was
s tbor {o ssgRoI fhat IN Gne old dO gSfy OS SnG that n y0s
Patten of Evanston, who cornered May
oats, had the new July shorts under ms
withstanding the fact that offerings were
scarce. The opening OF business was Wild;
bsfc before a reaction set IN. September
oRensed. ht2Ihc 9R at he SS aEst rush anq 70 e covey
Shere was a lull and prices slipped back;
Just before the close, however, July Cnewl
was given another severe turn and closed
tteemG ,bbe Closed strong, ic adyanced at s5lSc.
Wheat had a rush of buying orders to
P stFont PT Market Ip e S : sae G&Re onses %4th q so yffy
western connections were among the best
buyers. and gave as their reason for In
creased bids the damage to wheat in shocks
by last nights heavy storms, July was in
special demand and was bid up excitedly
by es sh0r Of s sSSe GVeE y ynae dSr sa Closing singing FIG,
ure. Shorts were badly scared. There were
several bearish influences at work; but
Gables were lower, but rallied. Receipts
were much Increased and foreign and
Statistical Journal issued a bearish report
and there was some selling as a result
pieted stocks of old stun and a remark
able shortage Of contract grade stun In the
new rSTa,s rSso sb0St tb T9eay 1he eU of / der s oent
as against. 90 per cent this time last year
This shrtnkage Is attributed largely e, the
July and which was counted upon by shorts
Illinois, mhS n Iso iowa, Nebraska, Kansas and Mis-.
souri. Stiii more rain is predicted, Sep.
tember wheat opened %4&c to kq&c up al
f2k472%c and sold at 72Bo. Proht-takine
close was firm for September. with a gair
pf SO, July closed strong at csc higher a
tract grade, and 222 of new. stun. Mime.
npolis and Duluth reported 1874 cars, making
against 81 last week and ass a year ago
Primary receipts were $4,000 bushels
against 1,215.000 bushels last year. Argen
tine shipments were only 24,OOO bushels
board ~clearances In wheat and -four equalet
Corn, after an early squirt. lapsed int
guinness and fuctuated narrowly. Receipts
Of contract grade were materially cut dow
prices, II is thought. Selling on the buigr
brought a reaction and there was little un
usual about the market the rest of tn
Day There was a fair commission hous'
femand from December and May. and tn
tent. Gables were frmi July opened TX VI
ht CSC on support, but reacted to 66+c OF
liquidation and closed Nc up at Sc. Sep
tember opened h@4c higher It elAgslh
FEiao3n t dipped to oAS SSSEi0sSR%e. and Closed ta only "
krihe firm, &c up at 61kc. Receipts wer
fA5 cars, 70 of contract grade. Total con
tract stun on the market amounted /
Provisions were depressed by early out
fde liquidation, but on a bullish hog situa
tion packers gave the market some supper
and partial rallies resulted. Septembe
kork closed TIC lower at slS.414, Septembe
ribs Sc up at $40. S2h.
Estimated receipts for tomorrow Wheat
10 cars; corn, 45 cars; oats, los cars; hogs
G0O0 head.