Omaha daily bee., 1903-03-17
COMMERCIAL AND FINANCIAL
All CommoditisI Tumble on Chicago Board
OF Trade.
MAY CORN BREAKS OVER TWO CENTS
other Grains suffer in Sympathy
while Provisions Are Also Az
fected In spite of Otherwise
Favorable Conditions,

CHICAGO, March l6-There was a break
of over z cents In March corn today, due
TO heavy liquidation by prominent holders
and the close WAS down lstc. May wheat
was on sc and oats were Hqssc lower
Provisions were easier and the May pro-
ducts closed from nc to 25c lower
Trading In wheat was only moderate and
the market held fairly steady the greater
part Of the day, but the extreme weakness
In corn caused decline late In the session
and the close was near the bottom. May
opened a shade to &c higher, at t41Ec TO
7415d74kc on comparatively steady cables.
the markets at Liverpool falling to respond
TO the decline here, and on small world
shipments, the decrease being largely from
Russia and Argentine. There Was genera
selling by commission houses, but the Of
ferings we're well taken by pit traders ana
local longs, and the price remained steady
until the session was well advanced, when
a reversion OF sentiment developed on the
break in corn and a decline to 1890 tol-
lowed. The close was 5sC lower at i3StW
1870. C.earances Of wheat and flour were
equal to 335,OyO bu. Primary receipts were
7g1, 600 bushels. against 69l,OOO bushels a
year ago. The amount on passage De
creased 1,672 600 bushels. and the visible sup
ply showed a decrease of 69l,OOO bushels
Minneapolis and Duluth reported receipts
Of COS cars which with local receipts of q
cars none of contract grade, made total
receipts for the three points of $50 cars,
against SOS cars last week, and 5S cars
Enormous liquidation of May corn re-
suited in a break of &c In that commonly
and with poor support the market closed
near the bottom. The selling was con-
tinuance of the liquidation begun last
week and was on a scale sufficient to SAT-
isfy the most incredulous that the bull
campaign inaugurated several weeks ago
had been abandoned. The selling was In
big blocks and at first was mainly con-
fined to one or two large operators. but
as the session advanced and no letup oc-
Cured the smaller holders took alarm
and Joined I'm the selling movement, so
that for a time II seemed as II the whole
pit had corn for sale. The opening was
easy on lower cables, May being shade
af 4GA n 4GIkr and from the tap OF
the bell until late in the day the market
experienced a gradual decline. At 4Bc there
was some covering by shorts and slight
reaction occurred, the close icing of l%c,
at 45Ikc. Statistics on the whole were bull
ish but had little effect on the situation.
Local receipts were 1863 cars, with one OF
contract grade.
There was early selling OF oats on the
increased receipts but the offerings were
well taken and the market held quite
steady until late in the session, when prices
declined with corn. The volume of trade
was only moderate. The close was weak
and 1aQ%c lower for May. at SAC, after
selling between 34bc and AAc. Local re-
ceipts were 413 cars.
There was considerable liquidation IN
provisions induced chiefly by the weak
ness in corn, although liberal receipts or
hogs and a decline of from &c to lOc In
prices at she yards were early pear factors.
There was no effort to support the market
and the whole list slumped on the close
being weak and 25c off, May pork at $1S.471a;
May lard down 17lzc at SS.95, and ribs were
7jRc lower at $8SlR.
Estimated receipts for tomorrow: Wheat,
20 cars; corn. 375 cars; oats, 20 cars;
hogs, 24OO0 head.