Omaha daily bee., 1902-05-17
COMMERCIAL AND FINANCIAL
Trade Takes Professional Aspect, Ruled by
Good Crop Prospects.
: OATS ALONE MAINTAIN ADVANCE
EARLY SUpturn I'm wheat Soon Checked
4 and.sharp Relapse FOIIows-HeRvy
y Hog Receipts Play Havoc
with Provision Prices.

{ CHICAGO. May 16,-Good crop prospects
ruled the quiet grain pits today. Trade
acter, and, although wheat had a few
bullsh. influences, lower prices were the
general rule, July wheat closed sc iower
July corn Adhc lower and July oats Nc
up. Provisions closed 21za7hc depressed.
Early In the session wheat showed some
| Gables were higher or steady, regardless
of our losses yesterday. Receipts in the
northwest were still very small. In ad-
dition to this, rain began falling again In
the northwest and advices from the Red
river valley told a very bullish story OF
delayed spring seeding gsn wsT Uhe not su a ent
FLOR the small demand and prices worked
up TO 75%Q75Hc for July, after opening a
General harvest news, however, was prom
.iainR. The northwestern curtailment OF re-
ceiPts were beginning to lose some Of tnel5
twas Inactive. Kansas millers made a re-
port of the condition of their state crop, In
a bearish advance over the recent scare
of a reduction to 100000 bushels. The
bearish factors In the END served 10 star
tile support, most OF the crowd waiting for
a leader. July slumped sharply lc and
GENTS were 90 cars, 8 OF contract grade;
minneapolis and Duluth reported only ~
oars, making a total for the three points
IA year ago. Primary receipts were 16s, 900
tbusheis, against 300, 900 bushels last year.
compared TO 776,0OO bushels a year ago
fSeaboard clearances in wheat and flour
iequaled 10000 bushels. The seaboard re-
ported 30 loads taken for export.
Corn showed weakness all day. Gables
were lower to start with and from every
where came reports of favorable weather
land promises of a bumper yield of corn
this season. The cash demand was slow
sand what there was of it, was being filled
easily. Freer offerings of cash stun were
reported from interior points of Iowa and
Illinois and receiving houses were moder-
try. The bull party made no apparent
effort to support the market and the de-
'mand came chiefly from shorts with profits.
Local receipts showed, so far, but little
inclination to Increase, but. tips from the
country insisted that within a week the
daily run here would be 200 cars, where now
It is generally below 60. Trade was much
restricted, but the decline was steady,
July sold down from 62sc to a weak close,
A9Bc lower at 6l%461Bc. Receipts were
Oats were very dull and made almost nc
appreciable changes. There was no out
side business In the pit and the Local
scalpers were waiting for developments
There was a general decision to not sell
short much further until more decidedly
bearish news came to hand. The moist
weather northwest deferred the bears from
following the action of the other pits
July, new. sold at 367sc and closed hGhC
up at 36Md36&c. Receipts were 100 cars.
Provisions ruled weaker and needed the
crowd heavily interested on the bull side
The larger run of hogs at most of the
western packing centers and the lower
ing. Trade was rather light. July porh
closed 7hc lower at $7.35, July lard b47l5C
down at 5000 and July ribs 2thc up at $9.0
Estimated receipts for tomorrow: Wheat
30 cars; corn. 60 cars; oats, lo cars; hogs
10000 head.