Omaha daily bee., 1902-09-20
COMMERCIAL AND FINANCIAL
Sentiment Changes to Bull Side and Prices
Olsse Higher,
SHARP EASTERN BIDDING FOR CORN
Northwestern situation in heat IL
Much ana Corn stock
Estimates Are Greatly Re-
duced by Late Figures.

CHICAGO, Sept. ls.-Grain spectators
had a quick change of faith today, Gen
eral early conditions, especially. foreign
wheat advices. were bearish. Prices mo-
mentarily weakened, but on a strong
northwestern situation In wheat and sharp
eastern buying in corn, with greatly re
duced estimates of corn stocks, prices
turned rapidly upward for good, grains;
The local selling sentiment. vanished and
at the close September wheat was l9Bc
higher, December wheat Sq9zc up, De
cember corn 1katsc higher, and December
oats nc lower. January provisions closed
unchanged to 21zc higher.
At the outset wheat was subjected 10
pressure. Gables were weak, the Russian
crop was estimated the largest in ten
years. the weather was favorable and
northwestern receipts were improved. Lo-
cal traders at once turned bearish and an
early weak corn market, could give no
supporting influence. what nttie ran AZ
threshing and the spring movement, was
favorable to the winter blowing. Speedily
Influences more potent than foreign. bear
ish advices were felt. Northwestern houses
began falling rapidly. -
Minneapolis reported rs cars diverted
from that market to country milling points
in one day. Shorts were buyers OF De-
cember as prices began to advance and
then came a brisk turn in September OPP
tions; corn later had bull factors of It's
own, and in turn helped wheat. A good
export business developed with lS LOADS
ports. Spurts of outside business, devel-
oped. September sold from an. opening un-
changed at 724c to I4c. and closed strong.
to a shade lower, at 6sad6S7sc and closed
firm, %912c up, at @lSc -,
contract grade. Minneapolis and Duluth
reported $50 cars, making a total for the
week and 1926 cars two days a year
ago. Seaboard ~clearances In wheat and
flour equaled 1900 bushels. Primary re-
ceipts were 1887, 900 bushels, against l,2S9,-
90 bushels two days last year. Argentine
shipped nothing to Europe last week. and
since January l shipments from that coun-
try have fallen off II, OD0,0 900 bushels under
Corn Slipped of at the start on an alb
sence of frosts in the corn belt today.
Gables also were lower and receipts were
large. Today's arrivals equaled 1854 cars,
tomorrow was heavy at $50 cars. ,Aregen-
tine shipped heavily, l,6l6,OO bushels, A
quick reaction resulted on covering, Sellers
have been somewhat timid of late, and
today the sentiment readily changed when
the crowd began TO consider that tomorrow
probably would show contract stocks down
Bad weather was predicted, and at the
early low prices there was a sharp de-
vanced well. but did not hold all the gain:
September sold from 6slsc to 59%c and
from 4Shc TO aye and closed firm, hqSc
higher, at 43hG44c.
oats held firmly steady and somewhat
was of material help and worked against
offerings that resulted from better grad.
of contract grade. Private elevators
turned out So cars of standard grade. The
situation was easy at the start on some
ened the market yesterday. The price
fluctuations, however, were very narrow
december sold between 30Bc and 30Ac and
closed hc down, at 30hc.
Provisions were only fairly active al
times. There was occasional good de-
imand for nearby stun, especially In Octo-
Der ribs. which gained 27Iac. Packers were
supposed to be aking in January stuff
After an easy opening on lower hog prices
offerings were light and small gains were
recorded. January pork closed PIC up, al
$500; January. lard, unchanged. at S.4714
and January ribs, 2lac higher, at $3.50.
Estimated receipts for tomorrow: Wheat
1856 cars; corn, $50 cars; oats, EOS cars; hogs
1900 head.
The leading futures ranged as follows: