Omaha daily bee., 1902-07-01
COMMERCIAL AND FINANCIAL
Floods in Farming District Send Prices
Bounding Up.
JULY CORN IS HIGHEST IN TEN YEARS
whole Line of Grain and Provisions
Accumulate Higher Prices and
QuIt with Good Advances
Bearish News Ignored.

CHICAGO, June SO.-In the grain pits to-
day the dominating Influence was the rain
which has fallen since Saturday TO Hood
spots on the map were SO few as TO
scarcely warrant attention.: Wheat closed
y oyer saturday, S SGrb ls sna 70 nr SSsG Sp;
2kc to nc improved. -
September wheat. in which option the
pit, opened &c 10 1bc higher at 73ho TO
f3Ac and went at n jump to a TO AID the
clamor 70 a rain-scared crowd OF shor'S .
Although not needed for the purpose, d
decrease of 3,725, 600 bushels in the quantltyy
Rhoat and a report that France wouiu
have 20 do some steep importing owing 20
q prospective late European harvest acteu
as auxiliary influences In sustaining PIlcss'
On the other side there were two nd he
feeling that the rain must finally cease.
Trade was heavy during the hrst hour
inE range, nor did ii during the remainder
of the session. when the volume or trans
actions decreased. The close was strohs,
crease Is 1,27b, COO bushels. Seaboard clear
ances in wheat and flour were equal to
$4,000 bushels. Primary receipts we're ST.
900 bushels, compared with $4,000 bushels a
year ago. Minneapolis and Duluth re-
ported 49o cars and ChI m 6 q, WTo1ttsl D for
the three points OF 54 cars, against 4b2
last week and 5T7 a year ago;
but prices exhibited a buoyancy, which re-
fused to be dulled even when the manipu-
3atoE5s Of IT. the tbs Sq pit in Gehi mpogsinS HI apenti 9Sp
July corn startled the holders by jumping
TO 72Mc, the highest price In ten years;
A duel In the september option enliVened
the opening hour. The manipulators OF
July began selling September, but the rep,
resentatlve or an influential house stood
close and ~nonchalantly absorbed every
thing offered. The excessive rainfall caused
much fear OF irreparable damage to the
crop and made an interruption of the
movement and a deterioration in the grad
ing almost certain. While interest In July
was most keen, owing to its high price
the biggest part of the trade was In Sep
tember There was naturally much profit.
taking on the upturn, but generally com,
mission houses were on the buying side
indicating that the country is getting or
the long side of the market. Receipts, 25
July sold between 7Ohc and 72Ac and
closed strong, 2Sc over Saturday. at 72hc
September ranged between sc and csc
closing lhQ1Ssc up at &c.
Oats contributed their share TO the bull
excitement, prices advancing sharply OF
uIrestrained buying by almost all interests
1T was said that the deluge threatens ever
greater damage TO oats than to either
augmented the sentiment on the bull side
Shorts engaged In a lively covering move
ment at the opening. Proft-taking fol
lowed and forced prices back for a time
market closed firm. Receipts were POI
cars. July sold between 47kc and s anC
between S4Ac and %Kc and closed 1Nqi%t
up at Soc.
Provisions we're neglected for the grains
PRICES, however. were steady. in sympathy
with corn and on firm prices at the yards
September pork closed 21sc higher at SlS.5O
September lard 5a71kc up at $40. 62adlO 6
Estimated receipts tomorrow: Wheat 4
1900 head. ~
The leading futures ranged as follows: