Omaha daily bee., 1902-04-12
COMMERCIAL AND FINANCIAL
Aided by Crop Report and Strong Gables
Bulls Are Elated.
HAVE SUCCESSFUL INNING IN ALL PITS
wheat aud Corn Quit Higher, but
Oats End Unchanged - Provisions
Have strong Day Generally
and close with Gain.

CHICAGO. April 1~L-Conhicting inter
pretations put on the government crop re-
port Of the condition OF winter WnHa ssiDq
today and resulted In active and irregu-
lar markets. In the end the bulls easily
Ing situation for corn in the. southwest
everything ruled firm. May wheat closed
Nav oats Unchanged Provisions closed a
shade to sc higher.
Prices in wheat had a good upturn early,
cables-the latter probably rejecting for
eign Interpretation on the crop report;
yesterday, but the curb action. had pre-
pared them for an early bulge; May
started &c to sc higher at 72sa2hc. but
sold and May dipped to 13sc. Speculation
was rife as to just what way to take the
alton at 81. as compared to nj a year
ago This condition, with three eTceptlohs
in fifteen years lis the lowest. me o yie oei
bushels. The department did not revise
its figures on the acreage from me pToo
acres. The department, however, promised
to revise the acreage May l, and with the
knowledge that Kansas mas PIoWed III It,
half as much more in Texas and Okla
homa. traders figured tha; probably the
acreage harvested this year would exceed
by only a small margin that. OF a year
ago. II the acreage Is brought down 10
last years level the yield suggested by
the report will be only about 365, 900 $50
bushels. This evidently was something of
the Interpretation put on the report by
the country. After the early selling by
the trade. who followed the custom OF
twenty years and tried to knock down the
price, a real bull marketed. The outside
markets had held to the Dullish opinion,
cash wheat had worked into a better po-
sition and the crowd that was carried
ported a good demand for both Duluth and
Manitoba wheat for export, with twenty
hve loads sold; the seaboard took nine
loads and Chicago worked thirteen loads;
Corn developed Independent stSength and
helped in the uptur Ths h1 4 RTote ASST ibs
result was a squirt Of May up to 13c. This
figure netted good profits to the bulls, who
pTices and Consequently there was free
liquidation late that took on some OF the
gain. Receipts continued very small ana
There was greater interest in the market
than for some time past. At the, close
at 72%a72Ic. Local receipts were twelve
cars, none of contract grade. Minneapolis
and Duluth reported 1855 cars. or a total
week and 21 a year ago. Primary receipts
were $4,000 bushels, against $4,000 bushels
last year. Seaboard clearances in wheat
and Hour were light and equaled 1850
bushels. Argentine shipments were l,O76,-
900 bushels, compared to $4,000 bushels a
Early trade in corn was much the same
character as that in wheat; Prices were
higher on cables and the wheat strength
but there was an easing of as wheat re
acted. About the time wheat began to ad'
vance theoretically, however, corn de
veloped a lot of bullish news of It's W
st. Louis and Kansas City were bullisf
and were very strong. The latter pom
was predicting e big bull movement Of
seemed to be rapidly vanishing. In the
west they are almost NIL and receipts az
not supply the demand. There was a gooC
cash demand today, the outside set t'
buying and at no time were offerings lib
eral. The large interests that were In tn
market recently began buying septe Irns
up again to 60c. May jumped from Low
MARI at SAC and touched COO. Late profit
taking depressed prices and May close
Oats differed from the other pits an
was rather, a surprise to traders Ma
TENT an air of mystery to the trading
Some spectators thought the big holder
was selling out: others it was merel
and commission houses bought in and tn
market assumed a better tone than TO
some time. The strength in corn AM
wheat aided. There was excellent buyin!
in September, which sent prices up well
There was a little reaction before the clos
and May after having advanced from 4llE
to 42hc, closed unchanged and steady a
Akc. Receipts, Is cars.
Provisions were strong all day until jus
before the close, when proft-taking too
highest prices Of the year for hogs an
commission house buying for the outsid
account were the factors In the early W
pit was not particularly active. but Shove
q fair amount of energy, May pork close
&c higher at 1865, May lard a shad
higher at $s.611s, and May ribs a shade Il
receipts for tomorrow: whea
10 cars; corn, 65 cars; oats, lO cars; hog
The leading futures ranged as follows: