Omaha daily bee., 1902-06-17
COMMERCIAL AND FINANCIAL
Corn IL Paramount Cereal and Travsue'
Uphill Road.
sTlRs WHEAT TO SHosT-LNED ACTIVITY
oats Are Dull and F~eatureIess and
Close Lower, h Provisions Arc
Boosted by After
Suffering slump.

CHICAGO, June 16.-Corn was the jack
screw to the speculative pits today. Bull
maniPulat9Ts got unaef .5e tos sIebti goi IN
spite of generally bearish conditions. At
the close July corn was lie higher. July
lower. Provisions rallied from a sharp
slump TO close PIC lower to 10c higher.
Corn was momentarily weak at the open
clearing weather and some early short
selling. The trade was soon dominated,
however, by the idea that the big bull
intention to boost prices. When there WINS
a fair show toward recovery from the
opening depression there was a movement
on the part OF the shorts in July tina indi-
Gated that they thought Is best to suffer
losses now rather than later. An attempt
scared ali the little fellows in the face of
bearish statistics. July, which opened as
low as SIC. kept steadily advancing
Around SAC there was liberal unloading of
longs, who had Fought near 60c. But this
stayed the upward movement but slightly.
The trade was in a position where prob
than anything else. This is expected to be
the case for some time. Under these cir
tivity. July closed strong at its high point,
1c up at 64hc. Receipts, 1863 cars, but con-
tract stun was small; Exports from the h
seaboard were nothing, against 100000
Wheat was relieved from dull monotony
by the, action In corn; Early Lquidation
IAAp
pit, but trade hung fire and haggled Tor
some time. Gables were better, indicating
cold weather in France. Statistics were
generally bullish. but crop prospects were
very good. When corn began showing ITS
strength wheat developed It's short-lived
activity. There was almost no buying bus
mess and this prevented All otherwise prob
able sharp rally. As It was there was
little inclination to sell short, and July,
after opening h6kc to &c lower at nSc
to INC and dipping to 719sc. rallied TO a
firm close, Bqhc up at I2c. very ittIe
cash business was reported. Receipts, l9
cars, 4 contract: Minneapolis and Duluth
reported 443 cars. a total for the three
points of 462 cars, against 39S last week
and 40 a year ago. Primary receipts were
606, 900 bushels. compared to $4,000 bushels
last year. Seaboard c~learances equaled
10000 bushels. against $4,000 last. week:
Breadstuffs on passage decreased ~3,O0S,OOO
bushels. The visible supply decreased
Oats were dull and featureless. The fair
weather prospects and the probability OF
large crops onset the steady cash demand.
Receipts, 146 cars; also had a slightly bear
fish effect, being liberal. These influences.
together with the opening slumps In wheat
and corn. caused a break in this pit, and
July new sold early at S9Ac. The rally in
corn brought a slight recovery ,L @5sa July
Trade in provisions was small and dull
although prices in pork iuctuated widely.
A run of 10000 head OF hogs depressed inc
dalton in provisions. Packers soon came TO
the support, however, and boosted prices
sharply. There was some talk that the
TODAY. July pork sold at $40 early and
closed 10c up at $17.62h; July lard closed
unchanged at 1920 and July ribs 2hc lower
Estimated receipts tomorrow: Wheat,
As cars; corn. so cars; oats, 25 cars; hogs,
h leading futures ranged as follows;