Omaha daily bee., 1902-05-09
COMMERCIAL AND FINANCIAL
Prices Revive After Wednesdays Slump
and All Pits Close Up,
BIG GAINS IN PROVISION MARKET
Cash Situation strong, Cereals Freely
bought and Benrish News nor
Corn shows strength with
Little stun Outstanding.

CHICAGO, May SIT was buyers day
In the grain markets today. There was
much recitation early on weather condi.
fresh pressure; cash business was good
and prices made good advances. July
higher. IND July oats &c advanced. Pro-
visions closed 12hc to 30c higher.
Bears who had been hammering wheat
found too many bull factors arrayed
against them today. The weather was
Statistical Journals issued bearishly IA
vorable crop news, but receipts were very
small and the cash situation was very
firm when the depression WAS taken Into
consideration. After an early see-saw In
prices bulls took hold firmly and worked
ally developed a strength that the traders
say probably will influence speculation for
in sight, the country is Offering little and
the elevator people have sold much. OF
their holdings at July prices rather than
been a scarcity OF cash wheat at the re-
Gently current May figure. Today's prices
in outside markets advanced above July
and at one time here almost eQualed
them. Added TO this was a good corn
strength. Good cash sales we're made late,
h heps''s Shorts lDsos covered freely and July.
which opened hgAc to kq%o up at A$c
18 ' az solo Reee sG is "a ae cars Si0S none 7s con-
tract: Minneapolis and Duluth reported l0l
cars q total for the three points Of d2t
cars, against 263 cars last week and go
cars q year ago. Primary receipts were
10000 bushels, compared to 1852 cars last
year. Seaboard clearances equaled 3s4,OO
bushels.
Corn ruled strongest. of the grains today
and made good advances. The slump was
not responded to by the foreign markets and
although all outside news on the crop sit
uation was exceedingly hearish, everything
on the situation favored the bears: There
small and the leading bull house IL cred
tied with holding twice as much long corn
Us there is old stun visible. After hesi-
tating for a time at the opening ~"tailers'
again took the bulliBh view Of the mar
ket and bought literally shorts covered
and then the bull leaders sent prices up
further by taking in stun in good %quanti-
ties. Traders generally regarded the posi-
ton Of the bull party as such that at any
open buying by II the crowd quickly fol-
lows. July early sold as low as 6O12c, adj
for profits closed firm, ssq%c up at 6lh9
61tc. Receipts, l5 cars
Oats did not have much strength of their
own. The early market was weak on ia
July by the prominent puil operator I'm
May options started a buying movement.
July sold early at 35c, advanced to 36NC
and closed firm, &c up at S6lsc. Receipts,
Provisions were Influenced for good adj
vances by a continuation of the demand
that has marked the pit for several days.
The hog market was strong and packers
gave the pit good support. Liquidation
was in the shape of outside profit taking.
Corn strength also helped in the upturn.
July pork closed DC higher at SIPS; July
lard. 1214e up at Slo.22ta, ahd July ribs l2lac
Estimated receipts for tomorrow: Wheat,
so cars; corn, IS cars; oats, 100 cars; hogs,
1900 head.