Omaha daily bee., 1902-06-06
COMMERCIAL AND FINANCIAL
Weather Conditions Perform Important Role
in the Grain Pits,
SPECULATION ACTIVE AND ERRATlC
wheat Loses Early Advance, while
other Cereals Exhibit Gains-PHck-
ers on Selling side of Provi-
sions and Prices Tumble.

CHICAGO, June 5.-Grain speculation
was fairly active today, but OF an etraiiS
nature. For a time IT seemed ma hsS
Leome to an end and nat help was coming
hfrom the weather conditions, when, IN.
stead OF being fine, we're too wet southWest
nor The early harvests. Wheat had a good
|advance, but lost It all. The wet weather,
however, helped corn. In the eng 1ulS
wheat lost sac, July corn gained hc ana
July oats gained sc. Provisions closed ~
use to l2kn15c lower.
AS n result of the excessive rains south
west over a large portion Of the winter
wheat country commission houses had
good buying orders at the opening tnere
was still out a good-sized short interest,"
and both the leading elevator interests ana
the corn bull crowd supported the pit
These Influences were too much for the I'M
Responsive cables, fair deliveries and bear
ish statistical Journal reports. Export
business was poor and shipping sales mere
were nil. With shorts covering freely at
the start July made opening sales at a
shade lower to hQhc higher at iZ5sc
and after some wavering touched fE1so; Inc
ment in the spring country, but, despite
/ this influence and the good show OF corn
with small profits. There seemed to be no
faith on the bull side after the early bulge
and general LIQUIDATION 6To9ght a SThhafP
was a partial recovery toward the end OF
the session, but July closed weak, &c down
saw that mills there will close soon. Re
ceipts we're II cars, z contract; Minneapolis
and Duluth reported 2S4, making a total OF
2p6. against 224 last week, and 1898 a year
ago. Primary receipts were $4,000 bushels.
compared to $4,000 last week. Seaboard
clearances edualed 429, 900 bushels. The sea-
board reported Is loads taken for export.
Corn SPECTATORS were inclined to n bear
fish view of the market, but prices acted
against them. Considerable strength was
shown most of the session, although much
of the advance was lost when wheat broke
Today the puzzle in this PIT was the jun
the feature was the switching from July &c
September by the big bull leaders. Which.
ever way this interest leads the crowc
seems TO follow. At 44c or under December
options seemed very cheap and the price
unnatural IN the. light Of bullish operations
ment to buy and December shot up to 4%c
July sold up to 623sc, aided partly by watu
II the M Ilelss' rl L25s in she eay the w nTetq Of
fered more freely. July closed firm, Ac VI
az. 621sQ62Ac. Receipts, e cars, Countr!
was thought, to the wet weather retardinl
Activity and influential buying marke,
was specially in demand. The cash situa
ton seems to improve daily, In three day
There was some. influence from othe
grains, but the close was strong. The prin
cipaal bull argument for new July is tina
is practically all that can be delivered oil
new standard contracts. July opened firm
at 3sAc. Receipts, IS cars.
Provisions ruled weak. There was
marked change in front by the packers
who have been buying of late, and whel
they appeared as sellers prices broke. A
easy hog market also was a bearish incen
si7'2Oai722h. July lard ha5c lower at s1O'2
@10.22k and July ribs TIC lower at $10.07R.
receipts tomorrow: Wheat, /
COO head. ~ ~ So
The reading futures ranged as follows:
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