Omaha daily bee., 1902-04-08
COMMERCIAL AND FINANCIAL
Bulls and Bears Have a Lively Bout
in Wheat Pit.
LEADING CEREAL QUITS WITH GAIN
Professional Movements cheaper
Corn, and Oats Also suffer Weak
ness-PrOvisions FIuctuRte
widely

CHICAGO. April L-Grain spectators
had conflicting opinions regarding the OUT
come OF the winter wheat crop, when,
when they attempted to reconcile them with
the weekly statistics, produced something
of a Jagged market. Prices rose and tel
with the changing sentiment, but in the
end. in spite of corn weakness, May wheat
showed a gain OF Sc, May corn CLOSED, &c
lower and May oats hc down. PROVISIONS
a. The outset there were numerous bulllsh
influences at work in the wheat pit. Gables
were steady and there had been a Dig drop
In the temperature. The Kansas state crop
report. however, was the early bull factor.
This estimate, which saturday was re-
ported at "a, was corrected today 70 a con-
dition of only 20, as compared TO 100 a year
ago. The report also showed a loss OF
100000 in the acreage from last year ana a
possibly decrease In the yield OF SgOVO,VvO
bushels. other states had been sending IN
lower estimates and these Influenced an
upturn In prices. Missouri was repoTIeq y
and Illinois March fgures). as, against %;
Under these influences May wheat opened
AG3sc TO hqMc up at nhq!l5c. shorts
covered, there was some good buying and
prices held firm for some time. A chicago
paper printed an exhaustive report OF eaop
in the southwest, promised about the same
crop as last year. This factor, together
decrease in the visible supply of 100000
bushels less than had been expected, wore
away the edge OF the bulnsh enthusissS
had some fair early support, also turned
weak and helped push wheat
bulls turned in again to the support Shorts
covered again and there was a good rally,
May closing hTm ~ sSG ms tba c st btgsiness
was moderate and the seaboard acceptances
were very light. Elevators were liberal
sides of the market. The crowd seemed
disposed to walt for the government report
70 ,GoS settle d Inelr renei8ts We're "a ra TsoP nope Of
contract grade. Minneapolis and Duluth
reported 81 cars. making a total for the
week and 500 a year ago. Primary receipts
were $4,000 bushels. compared to $1,000
wheat and flour equaIed S85, 600 bushels.
Worlds shipments were $500, 900 bushels,
against 6,6S2, 900 bushels last week and S,lG2,-
sage decreased only $4,000 bushels. The
visible supply decreased only 100000
Corn ruled weak again. At the opening
the wheat strength and the cold weather
induced liberal covering by the shorts and
turn, loaded up pretty well with long stun
Later when wheat eased they tried to sell
and found nobody wanted 1t at the high
their holdings and prices took a sudden
drop. The shipping demand, was reported
The southwest sold early and the market
lacked bull support. Cables were steady
small Country offerings had a similar in
huence. The selling. however. was too much
for prices and May, after selling at b9sc,
, slumped to 57Ac and closed weak, hc down
at 573AQ5Sc. Receipts were only So cars.
There was little interest I'm oats. Prices
early were better with other grains, and
provision houses bought some. May held
rather steady, though at one time because
of the growing weakness in corn it eased
off from 43c TO 42Ac. There was a partial
recovery, after the somewhat free offerings
of May stopped and May closed easy, &c
down at 42kc. Receipts were II cars.
Provisions huctuated widely again on
manipulation. The opening prices were
higher on the better hog market and the
grain strength. Liquidation soon set In.
however, and carried all prices downward.
Packers sold freely at times. while scalpers
bought. The market was not very active
and corn weakness helped in the decline.
Light weights in hogs were also on incen-
tive. May pork sold from S16.55 down ia
$l6,26, but rallied on covering to an easy
close. DC lower at s16.421k. May lard closed
12hc down at S9.471R and May ribs 1910
lower at $S.75.
Estimated receipts for tomorrow: Wheat,
70 cars; corn. 100 cars; oats, 1876 cars; hogs
1000 head.
The leading futures ranged as follows: