Omaha daily bee., 1902-05-06
COMMERCIAL AND FINANCIAL
Oopious Rains in Nebraska and Kansas Send
Prices HeadlOng,
DRY WEATHER BUGBEAPe IN HIDING
Bears Dominate and wheat suner
over Cent Drop, while Corn, oats
l. and Provisions Also Close Be-
low Saturdays Figure.

= CHICAGO, May 5.-Actlng on the belief
that the drouth rules In grains are over
speculators pressed the market toqey enc
1t was clearly q day governed by the DIS,
appearance OF the dry weather DOGGY and
at the close July wheat showed a loss OF
iHc, July corn xd&c and July oats Nc.
Provisions closed a shade to &c lower.
Bears started TO dominate wheat at the
was at hand IN good array. cables were
lower. receipts were improving, but great
sst OF 6o aa f 10 tRe relief whs '6 of fsaEy sI and Ne.
braska- Private wires had reports OF crop
damage as usual, but the trade came 70
lost In the southwest. Estimates of the
Kansas wheat yield that had been as low
as SOoo9oO bushels b a T Ise rso aSe' 10 sao
10000 bushels. Moreover, statisucians were
showing that with even that small yield
age. Under these influences some heavy
lines OF long The9t owned i2ea nsy 81
Soid bsav1iv hofh here and in their own
weakening markets. The only governing
bullish factor was fear Of more rain in
the oyersoaksd spring W y sa sSunIt lover Su az
75H976kc, touched 75Nc and then slumped
TO A%9!4%c; There was a Large snort
of the offerings were absorbed to cover
accounts. Prices for July rallied to 75c,
5TEo sRe 0t Tocai receipts were q cars, . Of
contract grade; Minneapolis and duluth
reported 294 cars, making the total Tor the
three points Bis cars, against 2S last year
and ais a year ago. Primary receipts were
5000 bushels, compared to $4,000 bushels
last year. Seaboard ~clearances,. in wheat
shipments were s.eOs,00O bushels. against
100000 bushels a year ego. Breadstuns
Visible supply decreased 2,i21,O00 bushels.
The seaboard reported 20 loads taken for
export.
rains and the depression In wheat. The
southwestern markets were selling. lib
orally and were weaker, Kansas City being
&c OF at one time. and at a discount under
freely in the pit, and traders everywhere
argued bearishly because of the good grow
ing weather. The rains have started farm
literally. Rumors we're current that some
deal was on in this pit, but shorts con-
tlnued to sell to some extent. Cables were
were more liberal. July corn started %@%c
depressed and slumped to 60hc, a loss of
1Ac. There was a rally to Clio on cover
lower al 60N@eVXS Receipts were 17O cars.
Rains had a weakening effect in oats
and under the influences Of the breaks in
other grains the market declined steadily
Trade was not large and cash business
was improved, but offerings were increased
on the general good crop news. Receipts
were much larger than of late, 232 cars.
July closed NC lower at 35hc.
Steady hog prices at the yards held
prices of provisions from slurnping In the
pit. Products were inclined to follow
grains in the downturn and longs started
port. buying literally Of lard. The close
SHADE Sss a lower S at siyE.;io. Jul! July IRG = sS Sl9' iowe q
at slo17h and July ribs &c down at $3.50
Estimated for tomorrow: Wheat, 80 cars;
corn, 20 cars; oats, 2S5 cars; hogs, 1900
head.
The leading futures ranged as follows: