Omaha daily bee., 1902-06-27
COMMERCIAL AND FINANCIAL
After Holding. Market BeariIh, Shorts Are
0usted and Prices Rally,
SHARP REACTION FOLLOWS EARLY SLUMP
Tone Becomes n Medley, Though.
Bulls Are Paramount and All
q Cereal Pits Close Advanced
- Except July wheat

pg CHICAGO, June 26.-Grain speculation ex-
Dperienced something Of a severe twist from
S,Sets started out weak and were depressed
tAnto a position where they could be ratoed
Esasily. The raid came under the direction
Cabout violently. The tone became much
shnixed, although the bulls were in the ma
Uiority. At the close July wheat was Sc
.ower, September wheat Sd1zc higher, July
CORN hc up. September corn &c higher and
Unchanged to NC higher.
Wheat had a number of bearish Influences
sarly in liberal northwestern receipts, new
wheat coming into the market and a favor
able weather map for harvesting. Added TO
his was the absence of trading for the rest
II the week in the English markets. Both
liquidation, and short selling brought an
searly weakness IN the Leading grain al
Both options started out Mqkc lower, July
at 7Sha7S%c and getting down to 73c, and
Pine bears had gotten fairly in the trading,
fled by some selling by elevator interests,
bushels Of the September. Then came word
pof rain in the southwest and Of grasshop-
SSresh III N fstarn Pa fTom o oRH siSddP f8dIana'
Guly quickly sold to 13%c and September to
I3% sggqls late kI In the dsg, j afSiG eIos STSns Weak a
DC lower at 73hc, and September firm, 40
shc higher at 72bq72Ac. Traders credit the
bresent mixed conditions of the wheat pit
Ears 3 Of contract grade; Minneapolis and
sfo Tiq the t h6SRSFi points GiS Of fA So c %rHia against tO5 "a
Aast week and 3S4 a year ago. Primary re-
ceipts were 10000 BUSHELS, compared to
100000 bushels last year. Seaboard clear
ances In wheat and flour equaled 10000
bushels. The seaboard reported 10 loads
taken for export.
Corn had an active, heavy trade, with the
greater interest centering in September.
There was liberal buying of this option by
the bulls after an early break and prices
were advanced sharply. There was not
much in the way of news. Receipts were
small. but were I'm excess of last years,
July options were depressed early by offer
1ngs by the bulls, and then shorts were
i. forced to cover by reason of an advance In
ftprice to 69c, the high figure of the option.
t,short In corn is. II is supposed that a
Heading provision dealer Is the opponent of
ithe big bulls. July sold from Csc to 67hc,
PUP to 69c and back to a firm close at 6S5sc
on influential buying and closed strong &c
up at 607sq6lc. Receipts were III cars.
oats were the strongest of the grains
today. The cash demand was excellent,
with sales as high as 52Isc for No. 3 white.
Contract stocks were almost cleaned up
today and almost nobody had stun for sale.
Shorts, though few in number, covered, but
in order to secure anything they had to bid
up high for them. July oats sold from Az
l042c to 44tc and closed very strong, PIC
higher at 44%c. Receipts were 116 cars.
Provisions dipped early OH a weak hog
market and free liquidation by outsiders.
PACKERS, however. soon came to the sup
port of the declining market and twisted
prices back to a firm close. Late in the
day no attention was paid to the depres-
Der pork sold at SIS. 37A and closed nc up
at 1885; September lard closed unchanged
e $40 6oqlo6g1a and September ribs 2hq5c
Estimated receipts for tomorrow: Wheat,
30 cars; corn, l4O cars; oats, 40 cars; hogs,
1900 head.
The leading futures ranged as follows: