Omaha daily bee., 1902-04-29
COMMERCIAL AND FINANCIAL
Bullish Factors Are Overlooked and
Weather Holds Prices Back.
PROVISION GAINS OFFSET LOSSES
wheat values Dip and Rise, hut
Finally Close Down and Figures
in Corn and oats suf-
O fer shrinkGRe.

CHICAGO. April 2s.-It was bad weather
for the bull traders In grains today: Al
supplies OF old wheat and offerings in corn
were still light, the crops were receiving
weather to allow prices to hold advances;
These variant factors, however, caused
several. rapid changes OF sentiment. In
the end July wheat lost 1qlisc, July corn
&c and July oats %qhc. provisions closed
21ac lower to 2lzc higher.
though the frequent change of front of the
spectators made the tension somewhat
marked. At the opening. the news OF gem
eral rains in the principal wheat states, eN-
cept Kansas, started wheat at a liberal
decline from Saturdays closing prices. The
BouthH est sold literally and helped hold
prices back. The situation, however, for
some time seemed to favor the bulls. Cables
were higher, primary receipts were sun
and the northwest bought well of cash stuff
and started an advance. Prices worked up
a little and were helped considerably by
the remarkable decrease in the visible sup
yiy-3, 1872. 900 bushels. on the strength of
this last. influence, July rose to 'eAc, aIter
The pit crowd, however, was considering
the heavy worlds shipments and the gem
against the advance, When reports of
more liberal offerings IN the northwest by
the farmers i5aer and OF rs rains IN of Kansas fSs ss,,i 2T-
movement that had weakened the market
at the opening. Prices steadily declined.
until July reached 75c. A show of an i'm
p%rovement In receipts Though they are
s sfiai S% weak. h i@l,s e f RSseish at f 75bS. L SSiX
receipts were % cars, l of contract grade;
minneapolis and Duluth reported 28O cars,
making a total for the three points Of 253
cars, against 237 last week and S57 a year
ago; Worlds shipments were 8,e6S,0oO
and l.7s4,0O a veal, ago. Primary receipts
were $4,000 bushels, against $4,000 last
year; BreSdstuns on passage decreased
wheat and flour ~equalled 26s, 900 bushels.
Trade in corn hinged on the action Of the
leading bull crowd: Influential buying pre-
vented this cereal from following the course
of wheat, although the break in the other
pit eventually had Its effect. Al the open
ing prices were very steady and practically
no attention was paid to the general rains
in the southwest and TO the unresponsive
were readily taken as prices advanced.
The leading house that is supposed to be
carrying twice the amount of corn in &C
,tuai existence. did good buying and sent
July prices from $3.50 to 64%c. Trade was
rather quiet the greater part Of the SEES
sion, but as wheat weakened there was
some active short selling, and prices slipped
of. The marked feature of the market was
the good show of strength at the close in
spite of the bearish weather conditions,
September closing &c higher. July closed
,Ac down at 6314c. Receipts were improved
Interest in May oats relieved the mo-
notony of a. quiet market and helped up
buying Of the bear option and prices ad-
Yanced somewhat. The generous rains,
however. nave increased the prospects or
the coming crop and as receipts grew
larger and wheat and corn weakened oats
receded. The cash article was in good de-
mand, but there was something of a dispo-
sition TO keep out of the market until the
possibility of a corner in May is past. May
sold to 43ha43hc and closed firm NC up at
A2&c. July new closed %@hc lower at &c.
Receipts were 1893 cars.
The provision market was manipulated
again by packers today for higher prices.
The early tendency was to sell on the
grain situation and for profits. Brokers at
once began buying for packers, especially
of lard and ribs, and prices iuctuated ner-
Hously. Offerings by s~calpers, as well as
by packers, became liberal after the price
had been pushed up and on an absence OF
any urgent demand and the wheat break
most of the early gains were lost. The hog
market was strong. July pork closed 2kc
lower at Sl7.0219, after selling at $17.17h
July lard 2hc up at sl0.10 and July ribs q
shade higher at 80. 42h69. 80.
Estimated receipts for tomorrow: Wheat
% cars; corn, 1e cars; oats, 20 cars; hogs,
5000 head.
The leading futures ranged as follows: