Omaha daily bee., 1903-05-17
wEARE GRAIN COMPANY.
Omaha Branch 1IO-11I Board of Trade


CHICAGO, May 16.-WHEAT-The action
TO wheat for the past week has. been so
limited and the interest so small that there
is almost nothing new to report,
Toward the close of the week, however,
there has been an increased interest mani
tested. which has resulted In higher prices
and a disposition to look for a still further
advance. There has been considerable talk
In regard to damage to the growing crop,
both from Hessian fly and drouth.
The fact that a considerable short inter
est existed in the deferred futures made IL
easy, when the news mentioned above
came. to score a considerable advance.
The condition abroad is not so good as
was reported last week, but the main fac
tor just at present seems to be the unusual
ightness of stocks Of wheat at nearly all
Of the large %centers. where there are specu-
We cannot help but feel that the reports
OF Hessian fly damage are considerably
exaggerated, but any continuance of the
drouth will be damaging to the growing
We feel friendly to July wheat on ac-
count OF the chances there are OF its doing
all that the May has done, and our reasons
are based on the hghtness of stocks mem
toned above, the difficulty that is being
facture a contract grade. and the fact that
what wheat Is moving Is being spread out
and scattered to meet a general demand
from all directions and not centerins on
any one point.
In the way Of a spread. we think well of
q purchase Of the July and a sale of Sep
tember at ruling differences.
For a long pull buy the July, margin IL
well, ana we DeneNo you Will realize a
splendid profit, Our opinion Of the Sep
TENDER is as we have written before, tndt
nothing short Of a disaster TO the growing
crop will make II anything but a good sale.
CORN-The action to the speculative
market has sympathized in a measure with
wheat and has felt the same increase in
the volume of outside business the last two
days.
the condition OF the fields I'm Iowa, where
operations are reported from three TO FIVE
Corn is being moved from the country
points where they have a reserve. to the
points in Iowa and Missouri, where last
years crop was not large enough to meet
requirements, and this demand is rapidly
the small elevators and Inquiries are be-
ginning to reach Kansas City from as far
north as northern Iowa for corn I'm small
lots TO meet immediate needs OF feeders.
These conditions certainly indicate higher
ana Souid IKE 10 see he tIsSee wSEss mn ~
the fact that Il is cheap before Il Is toe
late for them TO be benefited by the ad'
vance, which seems almost a certainty In
view OF the conditions as they appear q
us. Well posted grain handlers OF our &C,
Similar 10 that gwen above is correct, tSaI
they are putting out no heages against
their cash purchases.
There is a short interest I'm July corn, not
OF a lighting nature, but one that will rur
20 cover as soon as there Is determine
outside interest manifested on the bull
oATs-rhe oats situation has been q
very quiet one, and aside from the advanc'
in the May, which is quite In line will the
predictions We have been making for sons
time past. there Is little to report
Dry weather throughout those counties
IN Illinois which supply the heaviesf
amount OF oats Is becoming a much-talked
OF factor, and even II the damage Is no
great, this will delay the crop To a eonsid
cradle extent.
There has been "A steady buying OF both
July and September oats from this section
OF the country and these people feel salts
ned that these purchases Will more thai