Omaha daily bee., 1902-04-18
COMMERCIAL AND FINANCIAL
Wheat Scars to Dizzy Height with Opening
Rush TO Buy.
REACHES SUPERINTENDENT MARK
Eases on Later, but Closes with Big
Gain-Other Two Cereal Beaders
Quit Higher and Provisions
Have Gala Day.

CHICAGO, April 17.-Grain spectators,
who innocently believed in the mythical
rains in the suffering wheat country, found
out today that they had been caught nap
ping. The result was one of the most ex-
the recent upturn. Wheat led in the ac-
uvity. making an early jump OF almost &c.
Heavy ,proht-taking brought recessions In
vailed and May wheat closed 1kc higher
May corn Nc higher and May oats NC up.
Provisions closed 10G15c advanced.
Up to midday the trade in wheat was an
anxlous effort to undo the errors OF yester-
day. The bears, who plucked up, courage
TO sell short heavily yesterday and pressed
prices back, changed front at the opening
when II was learned that the rains re-
Gent TO the needs OF the winter wheat
crop. Cables were lower at the start and
northwestern farmers were reported max,
ing better deliveries of wheat. The general
outlook, however. was decidedly bullish
and at the very start of the gong there was
Eno sSx, Sbar rg sHa 70 buy and Nay "a a o yery sbo og
time was rushed to 75c. Here trade eased
on q little and prices hung STEADY, for
naturally brought out large quantities Of
long stun for good profits. st. Louis was
q ss, Very neaSy SeleF; Sy new reports of
western rains. The general sentiment OF
the crowd was voiced rather accurately by
q prominent statistical journal, which
stated that the cool weather was retarding
wheat growth and was to some extent
~DTDlu0lCiaI. Inc moisture Is ueHClenl anu
the Weather bureau predicts no rain for
thirty-six hours. Some OF the bears found
comfort in the fact that Kansas City prices
had widened out to 4hc in Chicago against
Shc under a few days ago. 1t was. argued
that Kansas was showing no fear OF drouth
damage; Some Some Of s,o the reports spS soIs NAG down sneG TO-
737bc. At this price, however, the buying
side was favored and a good rally set in.
Receipts. as cars, / of contract; Minneapo-
lis and Duluth reported l61 cars. a total for
the three points of 907 against 16i last week
2g7, 900 bushels, compared TO 1851 900 bushels
last year. seaboard c~learances equaled
Corn had little to help 1t upward, aside
from the general bullish situation. Al
though there was a bull market most OF
the session, II was rather a forced affair.
Cables started out lower, ground breaking
was reported going on well and trade was
and the Weather conditions were bulfish
incentives. The failure of the big western
corn states to get rains was publish Pc
crop later. On the other hand, reports
were circulated again claiming more lid
eral country offerings of corn. Consider
ing the strength of wheat. the small re-
ceipts at Kansas City and ST. Louis and
the big demand for cash stun corn did
was bullish, but reported selling by a big
commission house checked the advance.
Sss1HsSs SOLD soId as $50 low as So&c, when wheat
eased off and reacted to 62Sc.. closing hrm
and Nc higher at 62sc. Receipts, % cars.
for some time. July and September were
in good demand on reports THAI the
,ings were few and the wheat strength con-
tributed to the better tone. May. was
rather steady and little dealt In, though
slightly advanced on moderate cash bus
Iness. May sold between 43c and Bhc and
closed &c up at the latter figure. Receipts
121 cars.
Provisions showed Improvement after
Yesterdays liquidation. Strength in grains
and the small run of hogs influenced fair
selling by local scalpers In the way of
proht-taking took off some OF the gain.
NAV pork closed 15c higher at s16.92h, May
lard 2hc up at @.721s, n May ribs loc
higher at $9,25.
Estimated receipts tomorrow: Wheat,
IS cars: corn, 90 cars; oats. 100 cars; hogs,
The leading futures ranged as follows: