Omaha daily bee., 1902-05-10
COMMERCIAL AND FINANCIAL
Quiet Day in Grain Trading, Though
Prices Ascend.
MARKED STRENGTH IN HOG PRODUCTS
Good suppo Aids strong
values in Provisions aud Firm I'm
dertone Prevails In Cereals
oats Being Active.

CHICAGO, May 9.-Grain trading was
very quiet today, waiting Tor the govern
ment report on the crop situation which Is
expected tomorrow. In spite Of the slow
ness OF the market, however, a very hrm
undertone prevailed and July wheat closed
Jliy oats &C up. Provisions were again
Independently strong and closed TIC to
Il the outset wheat showed a tolerably
firm tone on dry weather In northwest,
with stlll further retarded spring SOWING
because of moisture and crop damage re-
ports from Kansas Yesterdays cash
situation was still bullishly effective and
handlers of cash stun still reported a con-
tInuance OF the demand aroused during
Inc recent decline. offerings were nght
and receipts were small. Although the de-
hold up the market. A fair export bust
ness was done at the seaboard, Is loads
being reported. The Michigan state crop
report showed q condition OF 50. against s.
per cent last month. M~inneapolls ana
Duluth reported that stocks would snow a
huences July, which opened unchanged TO
NC higher, at 74Mc to 74Ac. sold up TO 75c.
at 7l%c' Local receipts were 81 cars" 2 Of
contract grade; Minneapolis and Duluth re-
ceived 1853 cars, making a total 5o 9 tne
week and 233 a year ago. Primary receipts
were 2lS.OO bushels, compared 70 34I.OoO
%ere si2.oSe Bushels, against 1,Oi2,o5 last
week.
Although the corn trade was slow much
OF the time I'm sympathy with the waiting
wheat market the tone ruled strong under
the prevailing bullish sentiment. The OPEN
ing was higher on the wheat advance and
colder weather, but continued small re-
ccipts, declining stocks and the good cash
demand governed the pit. As usual of late
the crowd quickly followed the lead of the
leading bull house. Some small scalpers
sold, as did commission house. early, and
caused a dip. but when the bulls began to
buy September, whereas for several days
they had sold that option, the crowd tailed
after. September closed with a gain Of Nc
at C0%c and July, after selling at 619bc,
closed k@Ac up at size. Favorable
weather for seeding and growth OF the al
ready planted corn seem not to effect. an
were very small, at 76 cars.
Oats experienced a strong and fairly. ac-
tive market most of the session. The lead
ing bull professional in May options was In
the pit buying fairly, as also were several
big commission houses. There is still some
fear of manipulation of the pit by the
principal bull. Corn strength caused part
of the upturn, but receipts and offerings
were small, shipping sales were large and
July closed strong at its top figures, sc
higher at 36Ac. Receipts were 155 cars.
There was some fair liquidation for
profits in hog products. but II was not
sufficient to retard a good advance. Prices
were higher all day and the tone ruled
strong on the higher prices at the yards, a
good packers support and outside buying.
July. lard 1Oc up at Sl0.32h and July ribs
7kc higher at S9.721z.
Estimated receipts for tomorrow: Wheat,
90 cars; corn. 30 cars; oats, $50 cars; hogs,
1900 head.
The leading futures ranged as follows: