Omaha daily bee., 1902-03-18
COMMERCIAL AND FINANCIAL
Grain Market Opens Strong, but Suffers
Weak Close.
BULLS ARE GREATLY DISAPPOINTED
NOtwfthstandinE Cable and weather
Reports Favor Advance, Bears
Take OppoFtune Time TO
Force Market Down.

CHICAGO, March 1L-Freezing weather
In the winter wheat country. on the top OF
the warm rains that started growing last
week failed to scare grain SPECTATORS as
much as had been feared. When. bears
Started sheih IN iate to hammer the bulls and
succeeded not only I'm overcoming the early
gains, but forced a weak close. May wheat
lat the end of the session had lost 1zgsc,
May corn 30 and May oats Vase. Pro
visions started strong, but closed 2hdoc
Gotf Judges OF trade influences declared
at thu opening of business that the wheat
news should put &c on the prices Of fu-
Liverpool stocks were decreased and Liver
pool cables showed a quick ally to firm
'H Gsi:, IN suIi s1s f EngjIsh wa markets tse hard su freeze ehs
over the western states. The thermometer
was down to aero in the winter wheat sec
had started growing. Coarse grains were
higher, Minneapolis reported a good cash
demand, with No 2 northern selling at
These Influences did induce a substantial
advance at the opening, but the earlysprices
were the best of the day. May started
EGHc higher at SIC and haggled for the
first hour. Shorts had evened up pretty
well Saturday and consequently there was
not such a nervous tension as there would
have been had the freeze come last week.
The commission houses had many outside
fessionals were caiious Indifferent to the
situation and allowed the outsider to at
tempt to bring the heavy shorts to their
eased to 75akc. Here May rested for some
time. Then bears thought they saw a
latent to the pit and started IN to
crop damage reports came to hand, but had
little effect. The last half hour OF, trade
down to 74kc, closing weak, hdHc lower,
Rt 74h974Ac. Local receipts were 81 cars.
hone Of contract GRADS .is and M mas;nS 8
total for the three points of $40 cars, against
ass last week and sos a year ago. Primary
bsS.oo5 last year. The seaboard ciearances
in wheat and flour eaualed 5000 bu.
Worlds shipments for the week were 5.2lS.;
7,s5s.0OO a year ago. Breadstuffs. on passage
decreased s24 900 bu. The visible supply
decreased 1,l5s,Oo0 bu.
Corn trade was almost a repetition of
the experience in wheat. The cold weather
was expected to retard the early pasturing
west was sthf bumsn 9hd~ receipts con-
tinued light. Gables improved as the DAY
a Tbern was ana bnt w iittIe sttempt 30 bull he
market, commission houses which bought
early turning sellers later. Trade in July
but when 1t was seen that the wheat
strength could not support corn prices slin
downwards May, which bad opened h49se
and closed weak, &c down, at 6lhq62c'
Receipts were 14 cars.
Oats followed the lead of other grains
strong early ard weakening with wheat
and corn. There was little Significance 20
the trading and business was small.
though nervous. Spectators were afraid
TO act one way or the other, because of the
uncertainty which attaches to May options.
The cold weather led to some fear OF CROP
setback. July held fairly well and closed
with only a fractional loss. May was more
e~rratic. after selling as high as 45%c. drop
ping to 44Ihc. and closing weak. h@%c
lower, at 44&c. Receipts were 1903 cars.
There was a sharp advance in pork al
the opening of the provisions pit, influenced
by higher hog prices and the grain strength,
The buying was only scattered and not very
good. The late grain Xxi also con-
tributed to the closing weakness. May
pork closed 71k610c lower at S1B. u.s., May
lard SC down at $685. and May ribs 21@5C
of at SS.S7h.
Estimated receipts for tomorrow: Wheat
90 cars; corn, 1T5 cars; oats, 1875 cars; hogs
5000 head,
The leading futures ranged as follows:
80 -.